Monday, November 16, 2009
Star fund manager warns on consequences of Weimar Republic wheelbarrow money
Fund managers are warning of an "almighty shake-out" on the gilt market amid mounting fears the Bank of England will lose control of inflation and send interest rates rocketing. Jupiter income star Tony Nutt said: "There is an unprecedented amount of Weimar Republic wheelbarrow money being thrown at the system. "The Bank of England will think 'I'm in control, I'm in control - oh, whoops, no I'm not'. We will wake up one morning and find interest rates are already higher than we were anticipating the day before."