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Osborne unhappy with BOE...
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.ft.com/cms/s/0/448c2dbc-7082-11e2-a2cf-00144feab49a.html#axzz2KDXFjus8George Osborne let slip his frustration with the Bank of England on Wednesday, calling for looser monetary policy to boost economic recovery.
In an extremely unusual move on the day before the BoE’s monetary policy committee announces the outcome of its monthly meeting, the chancellor put pressure on the bank to take action.
Seems to me the BOE is trying, albeit ineffectively, but is hamstrung by the banksters continued ability to subvert their intentions.
BOE reduces cost of funding to the banks to try and get cheap credit into the economy, but the banksters increase margins to record levels!!!
BOE makes £80 bn available through FFL to try and increase lending, banksters take just enough to reduce their costs, and then actually reduce net lending!!!
Madness!
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »http://www.ft.com/cms/s/0/448c2dbc-7082-11e2-a2cf-00144feab49a.html#axzz2KDXFjus8
Seems to me the BOE is trying, albeit ineffectively, but is hamstrung by the banksters continued ability to subvert their intentions.
BOE reduces cost of funding to the banks to try and get cheap credit into the economy, but the banksters increase margins to record levels!!!
BOE makes £80 bn available through FFL to try and increase lending, banksters take just enough to reduce their costs, and then actually reduce net lending!!!
Madness!
Why doesn't George get some and simply tell the state owned banks to do it and confirm that the government takes full responsibility.
All this arms length threatening and posturing is tiresome.
Who are the Banksters? A good proportion of them are actually the government.
Of course if he isn't so sure it is good idea why stir things up whilst covered in teflon."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Because the banks own osbourne.
And every other politician for that matter.0 -
I think George is displaying his lack of understanding of economics and yet again his unsuitability for the job.
3 morons in a row, no wonder we are in such a mess !!!'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
BOE is independent. So may have a different opinion.
Given that we're in the middle of an experiment.
Headline us much ado about nothing.0
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