Thursday, December 11, 2008
How can we expect anything but inflation in the future
"Mr Darling has refused to tell MPs how much further sterling would have to fall before he became worried about the value of the British currency. " ...I imagine he ,GB and Lord Mandy will keep it under their hats until it is so low, perhaps 1pound buying 80euro cents, before they bring it up. Making a case that joining the euro is the only possible option, by which time GB will have bought sterling with all his euros bought from selling the countries gold in 2000, and sell himself as a financial wizard for making the country so much money. Then the real pain will hit the UK, as all fiscal control is removed. Even though, and I hate myself for saying this, as I still have savings in sterling, removing control of interest rates from vote obsessed politicians may not be all that bad.