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Ask The Bank Of England About Printing Money

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http://www.bankofengland.co.uk/monetarypolicy/qe/ask.htm

Quantitative easing or the creation of currency out of thin air is theft of the purchasing power of peoples savings.

Do you think the police should be investigating this theft

Every time in history that a similar policy has been carried out by bankers and politicians it has resulted in devastation and a destruction of the currency involved. What makes you think it will be different this time

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Charlie Bean, Deputy Governor for Monetary Policy, is undertaking a 7-day tour of Britain beginning on 13 July to explain the MPC's policy of injecting money directly into the economy alongside its decisions on interest rates.

The Deputy Governor will make a number of visits to parts of England, Scotland and Wales. He will meet business groups and organisations and undertake media interviews. This is part of an ongoing effort by the Bank to explain its quantitative easing policy - why injecting money into the economy is needed, how the policy is expected to work, how the MPC is monitoring its effectiveness and how the MPC will remove the stimulus when it is appropriate to do so.

To complement these visits, Charlie Bean will answer your questions on quantitative easing. If you have questions, you can send them to the following email address AskDeputyGovernor@bankofengland.co.uk. Questions will be grouped so that they can be answered together. Emails will be accepted until 24 July. Charlie Bean will answer as many questions as possible shortly after that.

Good question from you, (but add on the end) .....

"Every time in history that a similar policy has been carried out by bankers and politicians it has resulted in devastation and a destruction of the currency involved. What makes you think it will be different this time?...

Do you feel lucky? Well do ya, punk...?"

Edited by loginandtonic

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Quantitative easing or the creation of currency out of thin air is theft of the purchasing power of peoples savings.

Do you think the police should be investigating this theft

Every time in history that a similar policy has been carried out by bankers and politicians it has resulted in devastation and a destruction of the currency involved. What makes you think it will be different this time

Fascinating opportunity - though I consider your questions somewhat resemble banal hyperbole.

If I had an opportunity to ask a question it would be this:

Given that currency is the mechanism of exchange and an important store of value, it stands to reason that any individual element of monetary policy will positively affect one demographic while disadvantaging another. I am interested to discover what, if any, ethical perspective is taken into account. For example, would the bank pursue policies that support abusive economic practices if it can be shown that they maximise GDP? Furthermore, how does the bank hold itself accountable with respect to objective targets... given that, with bank decisions affecting the economy directly, this renders any allusion to scientific method a sham. Do bank officials still have confidence in linear models inspired by physical processes - or is it recognised that what matters about our monetary system defies measurement?

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http://www.bankofengland.co.uk/monetarypolicy/qe/ask.htm

Quantitative easing or the creation of currency out of thin air is theft of the purchasing power of peoples savings.

Do you think the police should be investigating this theft

Every time in history that a similar policy has been carried out by bankers and politicians it has resulted in devastation and a destruction of the currency involved. What makes you think it will be different this time

Purchasing power doesn't exist. How can it be stolen? :P

Edited by Alan B'Stard MP

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what is the difference between them printing money and debasing the currency or using inflation to stealthily steal it from you? The net result is the same, you pull your pants down and bend over.

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