Thursday, June 4, 2009

Newly minted Bank of England cash is going abroad

Foreigners are stealing our quantitative easing

FT's take on yesterday's Daily Mail story. "Up to half of the fresh cash being minted by the Bank of England is flooding abroad, official figures suggested yesterday." Foreigners are making use of QE to get rid of their UK Gilts. This is confirmed by a drop in lending by UK banks; depressing chart for BoE. "So inevitably, people will be asking whether QE is effective."

Posted by mountain goat @ 04:50 PM (953 views)
Please complete the required fields.

2 thoughts on “Newly minted Bank of England cash is going abroad

  • Good lawd.

    As if the wall of money from QE being thrown at mortgage lenders isn’t big enough already when they can raise prices despite rising unemployment, low affordability and no first time buyers in sight.

    The foreigners are saving us from our government and central bankers!

    Please complete the required fields.

  • “The Bank of England itself thinks it could take six to nine months for the full effects of its unconventional policy measures to become clear”

    How do they know it will take six to none months, if these are such unchartered waters? If it does take that long to see any effect, does that mean that by the time we see hyperinflation or currency collapse it will be too late to stop it? As usual the bank is just feeling its way in the dark.

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>