4 1 min 10 yrs

The Bank of England’s economic commissars have ordered up another £50bn off the presses. This brings the total to a whopping £375bn and, like the previous efforts at QE, it’ll be used to buy up government bonds to hold down interest rates.

Forget the other banker boys, this is the real rate manipulation scandal: it’s the government and Bank of England colluding to keep the government over-spending by cheating savers today and looting the young tomorrow to pay it back.

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4 thoughts on “IT’S OK WHEN THE STATE DOES IT

  1. I think it was around 2006 that ‘Charles of Texas’ exhorted everyone on ATW to buy gold. He probably made a killing if he took his own advise, which he most likely did.
    Now that the BoE is rolling the presses once again, this can only mean good news for those who have part of their portfolio in gold/silver – the perfect assets when this phoney paper trail finally burns out.

  2. Most hold on to any asset too long.

    Gold ( and many other commodities, including oil ) have had a considerable coming back to earth in recent months. They’re the lowest they’ve been since 2010.

    Some of us may have to recalibrate their economic theories or anti Obama bellyaching.

  3. The Small Business Federation has opposed this QE on the grounds that it will lead to inflation and that the previous £300 billion was used by the banksters to speculate in commodities and derivatives rather than lending to businesses. There is nothing to stop then doing exactly the same with this windfall.

  4. we’re all doomed,

    when nations buy their own debt the inevitable outcome is always collapse

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