"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Saturday, October 8, 2011

Just print the money - What could go wrong?

Bills?  Who cares about bills?  We can print the money.

Inflation?  The Bank of England has said it will inject (I mean print) a further £75 billion into the economy through quantitative easing (QE).

The government printing presses are running night and day around the world churning out money to cover the moronic decisions of government and business leaders.

So simply print money until your problems go away.  What could possibly go wrong?
The Bank of England has already pumped £200 billion into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks.

But this is the first time it has added to its QE program since 2009. There have been recent calls for it to step in again to aid the fragile recovery says the BBC.

The Bank also held interest rates at the record low of 0.5%.

On Wednesday, data showed the UK economy grew by 0.1% between April and June, which was less than previously thought.

Sir Mervyn King was reported yesterday as saying: “This is the most serious financial crisis we’ve seen, at least since the Thirties, if not ever.” Perhaps the Bank of England is privy to data that makes it believe that further collapse in the British banking sector is now inevitable.

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