Thursday, November 5, 2009

Nothing Working in Britain: So Print More Money

The Bank of England is expected to expand its radical programme of printing money by a further £50bn today as the fight against the deepest downturn for decades is stepped up.
City economists are on balance forecasting that Mervyn King, the Bank's Governor and the rest of the Monetary Policy Committee will extend the total size of the plan, known as quantitative easing (QE), to £225bn - matching the size of the Greek economy.
The unconventional plan, which was first adopted by the MPC in February, has seen the Bank buy billions of banks of UK government bonds, or gilts, from financial institutions in the hope the money spent will be invested in the wider economy.

Experts admit that it's hard to judge whether the policy is working, but with the economy still languishing in recession last quarter, most reckon it's worth expanding.
“It is a lot of money, but if it does restart the economy and gets it moving again then it’s worth it,” said George Buckley, an economist at Deutsche Bank. “It’s very difficult to say if quantitative easing is working, but it is doing something.”


  1. Black holes can't be filled up no matter how much money you throw at them. And gold is too hard to throw. So hold your gold, dump you fiat paper and hang on. The ride is going to get more than bumpy I think.

  2. I thought only Americans and Canadians are stupid and ignorant. It appears that the Brits and Europeans are not any better. Only French, once in a while, show up on the streets with some kind of protests, and even that is organized and conducted by the plot masters from the Theatre of Absurd. Like poring milk on the streets…….how did these clowns sell their milk in 1895 without European Commission setting the whole price? I watched an Alex Jones movie yesterday night where he shows a Republican convention in NY with a bunch of protesters on all sides, ranging from fringe communists (who sleep and dream to live in a “communist paradise” like Gulag) to California GOP knuckleheads (who believe that they can barge into foreign country and steal their oil while “preaching democracy and high morals”) to Democrat dumbos (who believe that the Clinton wars are better than the Bush wars). I can only imagine how the Bilderbergers laugh watching this circus on TV.

  3. 11:31 yes plus the Elite love to observe the wars and carnage they start.

    That is where the term Theatre of War came from; they sit back in power and laugh.


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