Sunday, January 31, 2010

The world’s boldest monetary experiment

Bank of England ready to put the brakes on quantitative easing

The end of emergency QE is a task of surgical precision that risks setting off a gilts crisis and a surge in borrowing costs if mishandled.

Posted by devo @ 11:52 PM (616 views)
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6 thoughts on “The world’s boldest monetary experiment

  • i have to hand it to the financiers

    keeping the ponzi scheme apparently intact ( as far as you, the general public is concerned) is no mean feat

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  • aa3 (on the forum) says…

    The budget deficit was about ~£200 billion last year. So some people say we could cut our way to a more reasonable budget deficit.

    We could shut down the entire ministry of defense, and just go without a military. That would save us ~£35 billion a year.

    We could shut down the entire NHS, lay off 1.2 million people directly, shut down all the buildings, lay off all the contractors, stop all payments to doctors etc.. Shutting down the entire NHS would save ~£115 billion.

    So with no military and no health system we would be down to a deficit of ~£50 billion. Which isn’t that bad its not much more than 3% of gdp at that point. On the downside shutting all that down would probably cost over 3 million jobs across the country and we would lose their tax take, plus have to pay them benefits for being unemployed.

    Long story short.. printing money isn’t stopping anytime soon.

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  • letsgetreadytotumble says:

    Devo, don’t hit free thinking, upwardly mobile people. How much would be saved if you stopped giving to the work-shy, unmarried mothers, disabled who are actually quite able, scrap payments to people on public pensions (they seem to own their house and have savings)?

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  • Very good of you to call ma economic strategy the boldest”

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  • YES, close down the military, it is useless. The UK’s Bill of Rights is supposed to protect us against standing armies. The true national defense? A nuclear deterrent combined with a well trained militia.

    Switzerland makes EVERY 18yr old male have an assualt rifle and live ammo in their house. All of these men have to spend at least 1 day training per year and government provides people free ammo to encourage them to partake in shooting contests. Women are encouraged to partake. Swizerland could amass an army of over 2million in less than 48hrs. If Britain did this, we could amass an army of 20 million in less than 48hrs. NOBODY would EVER invade, because any invader eventually must leave their tanks and win hearts and minds. In Swizerland, try that, and you will return home, in a body bag. As you can imagine, home invasions simply do not happen in Swizerland, and you guessed it, break in, you can kill the criminal and be treated as a hero. Try that in the UK and get treated as a criminal. This is why we have so many criminals. Police solve crimes, they don’t stop them happening. So, we could also slash the police force.

    The little secret, is that this is why Swizerland never got invaded during the World Wars. The establishment did their intelligence and decided to put their gold in Swizerland because they knew it was safe, so, this is simply the truism that capital flows towards liberty, but the media tells you that it is because Swizerland is corrupt, no, it is because their government is less tyrannical and actually trusts its people, within the rule of law.

    “You cannot invade the mainland United States. There would be a rifle behind every blade of grass.” – Admiral Isoroku Yamamoto WWII

    The British Bill of Rights 1689 says the following about standing armies and the right to bear arms, clearly, we now need a bill of rights to protect us against acts of Parliament that extinguish our natural rights, but you will get the gist:
    – That the raising or keeping a standing army within the kingdom in time of peace, unless it be with consent of Parliament, is against law;
    – That the subjects which are Protestants may have arms for their defense suitable to their conditions and as allowed by law

    You can still target shoot, find your local club and use that liberty or loose it: nra.org.uk

    But I agree with Devo, this won’t happen, so, because this chicken neck country do not understand history. Money printing will continue.

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  • Oh, one more point, Brits partaking in the OLYMPIC sport of pistol shooting, must travel to Switzerland to practice their OLYMPIC sport to practice for the London Olympics!! Meanwhile, a father just had a sentence reduced, but continues to be considered a criminal because he bashed in a man who threatened to kill his family. This man is my hero, and all men should stand up for his right to protect his family and country.

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