Thursday, May 5, 2011

Surprise news!

Bank of England holds interest rates

And guess what. The more it holds rates down, the more damage will be done...

Posted by peter @ 12:45 PM (3440 views)
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11 thoughts on “Surprise news!

  • Why has the pound rebounded against the Euro? I was hoping that this would put some pressure to raise rates.

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  • 1. khards

    I think they are trying to give the pound a leg up.

    Quick, call the plunge team, Crunchy’s making too much money and we can’t have the likes of that nutter getting in on the action. lol

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  • the number cruncher says:

    I love the way this article builds up all the ‘evidence’ to say why this was a wise solution and reinforces, to the Torygraph readership, why they have wise rulers.

    It is a wonderfully written piece on how to create a false consensus.

    There is no alternative views,
    all the statistics presented support the decision to hold
    credible ‘opinion formers’ are quoted supporting the hold
    There is even a quote saying we must now Hold rates for at least another year

    This sort of expert manipulative Journalism is what makes me think we are living in an subtly crafted conspiracy as outlined by the likes of Noam Chomsky.

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  • 2. the number cruncher

    Come, come, as we have been told by much wiser and discearning souls than ours, there are no such things as conspiracies.

    Both I and indeed youself have never conspired to do anything throughout our pathetic pre arranged lifes. 😉

    I’m in a wonderous and thankfiul mood today, everything is haphazardly falling into place quite deleriously.

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  • general congreve says:

    @2 – Of course we are. Chomsky and Finkelstein should be compulsory reading at GCSE level. Instead nothing is taught on current geo-politics and the idiot box pumps out readily accepted propaganda to the masses.

    On the bright side, I welcome this interest rate decision, may they hold rates low and QE far into the future, my gold and silver will lap it up 🙂

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  • 3. general congreve

    If you can’t beat em…..

    It’s all so predictable it’s quiet boring this investing lark. Oh well.

    However, my juicy charts are screaming something big is about to happen within the 3 weeks. That should hot things up a little.

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  • In the City of London (“The Square Mile”), there is a huge amount of unoccupied office space. At least one attempt to convert some of it to residential apartments has failed (none of the flats sold).

    The Corporation of London are now investing in tourism promotion.

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  • 3. general congreve

    I said yesterday that I see something ‘big’ on the horizon, within 2/3 weeks. It’s in my charts.

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  • Paul, I know you’re out there. lol

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  • Trouble is, your gold and silver are not holding up that well since this news broke.

    In addition, “the more it holds rates down, the more damage will be done” sounds woefully desperate. Let’s look at this pragmatically. Current rates are hurting savers right now and you’re supposing that at best, this might be reversed in future?

    Don’t get me wrong I’m not condoning how the Bank of England has made savers pay. I just think it’s important to understand that payback time may never come.

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  • general congreve says:

    @4 – There are other forces at play. Plus this is not something that concludes today or tomorrow, this financial story will run for some time yet and in much the same two steps forward, one back that it has for the past decade.

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