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Bank of England announces further rate cut and ramps up bond-buying program


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Idiots

https://www.cnbc.com/2020/03/19/bank-of-england-announces-further-rate-cut-and-launches-new-bond-buying-program.html

Interest rates now down to 0.1%.

Nothing to see here, move along. . . . 

Maybe if they print enough, the paper can absorb the virus. If not, we can all use it for toilet paper so a win win for the morons at the BOE.

Edited by bubbleturbo
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3 minutes ago, bubbleturbo said:

Idiots

https://www.cnbc.com/2020/03/19/bank-of-england-announces-further-rate-cut-and-launches-new-bond-buying-program.html

Interest rates now down to 0.1%.

Nothing to see here, move along. . . . 

Maybe if they print enough, the paper can absorb the virus. If not, we can all use it for toilet paper so a win win for the morons at the BOE.

What do you expect them to do? 

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22 minutes ago, bubbleturbo said:

Idiots

https://www.cnbc.com/2020/03/19/bank-of-england-announces-further-rate-cut-and-launches-new-bond-buying-program.html

Interest rates now down to 0.1%.

Nothing to see here, move along. . . . 

Maybe if they print enough, the paper can absorb the virus. If not, we can all use it for toilet paper so a win win for the morons at the BOE.

they are machine washable now, so you could get some good use out of them

Gold also seems to have dropped on the news (or Sterling rallied...somehow)

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1 minute ago, Locke said:

they are machine washable now, so you could get some good use out of them

Gold also seems to have dropped on the news (or Sterling rallied...somehow)

Yes I noticed that too.

I cannot think of any explanation other that it being dumped by central banks at the same time as the announcement in a coordinated effort to try and stop gold taking off!

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Posted (edited)
50 minutes ago, MonsieurCopperCrutch said:

What do you expect them to do? 

Something different. We have seen over the last weeks with the actions of the Fed and ECB that the market is not buying it.

Of course, preferably we would not be in this mess. The mess is entirely of the worlds central banks own making though. They have blown even bigger bubbles since 2008 and the world has not taken the medicine.

Albert Einstein is widely credited with saying, “The definition of insanity is doing the same thing over and over again, but expecting different results.”

Edited by bubbleturbo
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8 minutes ago, Patfig said:

Yeah but those new notes will be a bit slippery like Izal

You mean they'll just spread the turd evenly rather than actually clean anything up?

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1 hour ago, bubbleturbo said:

FTSE positive 20 points and now falling back again.

Well that was worth it.

Come on - a measure like this isn’t just designed to have an impact on today’s FTSE.

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Posted (edited)
12 minutes ago, scottbeard said:

Come on - a measure like this isn’t just designed to have an impact on today’s FTSE.

Really? Do you have any idea of the derivatives positions which are out there?

Have you not noticed that the central banks one after another are attempting to stop the equity markets tanking? These are all emergency measures taking place outside of the planned schedules. Did you notice on Sunday evening the Fed cut even though they had a scheduled FOMC meeting a few days later?

Ever heard of the Fed put?

Edited by bubbleturbo
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The price of debt to the proletariat is of the order of 20-40%. 

The cost to the banks of what they lend is, well almost nil.

What is the point of reducing interest rates - by a fraction of a % in this case - if the banks are not compelled to pass on reductions? 

I can only assume it's to keep mortgage rates low even though some banks were talking about increases only last week.

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  • 415 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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