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FIGGY

Martin Weale: 'a Lot Of Scope For More Qe'

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The ink hasent even dried and they are happy to consider more

http://www.telegraph.co.uk/finance/financialcrisis/8816919/Martin-Weale-A-lot-of-scope-for-more-QE.html

Martin Weale, a member of the nine-strong Monetary Policy Committee that voted for "QE2", said: "There is quite a lot of scope for further quantitative easing.

Before the purchases that we announced last week, the amount of government debt in the system was actually higher than it had been before the earlier bout, so there is quite a lot more that could be done."

The Bank has now injected £275bn into the economy, including the initial £200bn of QE, and economists say it may go as high as £500bn.

Mr Weale, who was until recently voting for a rate rise, denied QE simply led to inflation without stimulating the economy, but he admitted there was "uncertainty" about its impact.

Speaking to Sky News he also added: "I think one has to recognise that central banks can't be expected on their own to resolve all of the world's problems."

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Speaking to Sky News he also added: "I think one has to recognise that central banks can't be expected on their own to resolve all of the world's problems."

No, but they can be expected not to make them worse or even create entirely new ones. :angry:

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Once the magic printing press has been found it will not be turned off until they are forced.

Either inflation stops them or the pitch fork. It will never voluntarily be turned off.

Thats the wory. its the casual nature of the comments that really gets me "Well we don't really know if it works but we know there is scope for a LOT more, dont worry though its not like we are printing money"

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Once the magic printing press has been found it will not be turned off until they are forced.

Either inflation stops them or the pitch fork. It will never voluntarily be turned off.

There was an earlier thread, sorry I don't know which one, which had the following link:- Fiat Money Inflation in France

I've read the first four pages or so. Worth a read. It is shocking, imo.

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Isn't all he saying that because there are now more gilts issued, it is possible to print more money to buy them.

i.e. that money printing is not limited by a lack of debt?

Yes that is the fact he is quoting but its everything around this comment that gives me the willies. Its like saying the bank has given me a £10k limit one my credit card so I see no issue with spending it all :o

Edited by FIGGY

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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