Newsnight: Quantitative Easing

neverdespairgirl

SGE1 wrote: »

Why should it be considered as gov't spending? After all, er, it isn't "spending", it's redistribution. You may not like the redistribution, but to call it a "scam" is a laughable.

It's very clearly a tax, though.

WTF?_2

More from the Torygraph:

http://www.telegraph.co.uk/finance/economics/interestrates/3551328/Bank-of-England-mulls-nuclear-option-of-cash-injection.html

In what would be a major departure for British monetary policy, the Bank is considering pressing the button on printing presses by engaging in a so-called policy of quantitative easing. It emerged after the Monetary Policy Committee cut borrowing costs by 1pc to just 2pc - the lowest level since 1951.
In the statement published alongside its decision, the Bank warned that "it was unlikely that a normal volume of [bank] lending would be restored without further measures."

..
Danny Gabay of Fathom Consulting said: "There has been a seismic shift at the Bank of England. I think [quantitative easing] is a natural progression from where we've got to now. The Bank has reached a tipping-point with interest rates. With a target rate for inflation of 2pc, this cut means that real interest rates are now at zero.
"It's quite sensible for them to start thinking about what other things to do. The easiest thing that they could do is to under-fund the fiscal deficit."
This would involve using the Ways and Means bank account at the Bank to buy government securities and would, in effect, amount to printing cash. In normal times such a move would be highly inflationary, but with the UK facing deflation next year such a plan is now thought to be valid.

So, forget about working, earning and saving. That concept is just for us plebs. If you're the authorities, just print the stuff up as needed. Legalised counterfeiting for politicians.

amcluesent

>Legalised counterfeiting for politicians.<

And Clown's just abolished the 1844 law that requires publication of how much money is being printed!

Lotus-eater

amcluesent wrote: »

>Legalised counterfeiting for politicians.<

And Clown's just abolished the 1844 law that requires publication of how much money is being printed!

Oh dear, that really does appear to be bad news
In fact, this could probably be the worst news of the week, looks like !!!!!! has been right all along.
If anyone wants me, I'll be with DD in the cellar with my tinfoil hat on.

ps, nothing will be going on, apart from the eating of beans.... I might have to come up for air later.

SGE1

amcluesent wrote: »

>Legalised counterfeiting for politicians.<

And Clown's just abolished the 1844 law that requires publication of how much money is being printed!

No. The Banking Bill, which is why you're getting your knickers in a twist, is a Bill, not yet an Act - so it's not yet law. Nothing has been abolished yet.

And interestingly enough, I doubt you'll see either of two main opposition parties voting against that Bill, which contains, as hard as it may be for you to understand, a lot of useful changing to the financial system.

Lotus-eater

SGE1 wrote: »

No. The Banking Bill, which is why you're getting your knickers in a twist, is a Bill, not yet an Act - so it's not yet law. Nothing has been abolished yet.

And interestingly enough, I doubt you'll see either of two main opposition parties voting against that Bill, which contains, as hard as it may be for you to understand, a lot of useful changing to the financial system.

Well why didn't you say so before.
Lotus throws his tin foil hat on the floor and goes skipping into the sunshine.

amcluesent

>a lot of useful changing to the financial system<

Maybe it does. But why does Crash Gordon now need to abolish financial reporting that's been good for 164 years?

It's either -

1) The hide the magnitude of the financial scam he's working on the middle-class savers of England, in favour of TruLabour voters in the sink-estates.
2) To hide preparations to bounce us into the Euro

Or possibly both of the above

SGE1

amcluesent wrote: »

>a lot of useful changing to the financial system<

Maybe it does. But why does Crash Gordon now need to abolish financial reporting that's been good for 164 years?

It's either -

1) The hide the magnitude of the financial scam he's working on the middle-class savers of England, in favour of TruLabour voters in the sink-estates.
2) To hide preparations to bounce us into the Euro

Or possibly both of the above

I don't know. What do you mean by "financial scam"?

Really2

SGE1 wrote: »

Actually, I asked you what WUN meant, it's not my fault you have some kind of persecution complex and assumed I was taking the mick.

I wrote WUM not WUN learn to read before being an idiot.:rolleyes:

StevieJ

Really2 wrote: »

I wrote WUM not WUN learn to read before being an idiot.:rolleyes:

You don't like him do you Really Is he a WUN?