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Thread: Bank of England to engage in anther round of Printing Money out of Thin Air

  1. #1

    Default Bank of England to engage in anther round of Printing Money out of Thin Air

    The Madness continues.

    The Bank of England will increase its emergency bond-purchase plan by 100 billion pounds ($160 billion) to aid the economy as the government cuts spending, the Centre for Economics and Business Research said.

    The central bank will also keep its benchmark interest rate at a record low of 0.5 percent until at least “late” 2012, the London-based group said in an e-mailed statement today. The bank kept its stimulus plan at 200 billion pounds this month.

    Britain faces the largest public spending cuts since World War II as the government tackles the record budget deficit. The British Chambers of Commerce earlier this month backed a call by policy maker Adam Posen for the central bank to expand its bond stimulus plan as recent data indicate the recovery has slowed.
    BOE Will Increase Bond Plan by 100 Billion Pounds, CEBR Says - Bloomberg.com

    Quantitative Easing cannot end. For if it does it will simply reset back to the purpose it was first required.
    Last edited by He3; 17th October 2010 at 08:38 PM.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by Cassandra Syndrome View Post
    The Madness continues.



    BOE Will Increase Bond Plan by 100 Billion Pounds, CEBR Says - Bloomberg.com

    Quantitative Easing cannot end. For if it does it will simply reset back to the purpose it was first required.

    deleted
    Last edited by Odyessus; 17th October 2010 at 08:59 PM.

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    Christ I wish I could print some money like they do when times are hard.

    Cass, if the Fed and the Brits start the printing press yet again what do you see the end results being? Last time it appears they both managed to gain some borrowed time, and it looks like there going to do it again surely it cant be this easy?

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    Politics.ie Member Ulster-Lad's Avatar
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    The British pound should be near parity then with the Euro after the printing.
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Quote Originally Posted by Ulster-Lad View Post
    The British pound should be near parity then with the Euro after the printing.

    I hope that start printing before Xmas then!

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    Politics.ie Member Ulster-Lad's Avatar
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    Quote Originally Posted by Bi ciuin View Post
    I hope that start printing before Xmas then!
    Ahh, you're thinking we may actually have some money to spend at Christmas. Maybe a little journey to the North I think not. Would be nice though.
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Quote Originally Posted by Bi ciuin View Post

    Cass, if the Fed and the Brits start the printing press yet again what do you see the end results being?
    Don't forget the milk this time love....

    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by Cassandra Syndrome View Post
    The Madness continues.



    BOE Will Increase Bond Plan by 100 Billion Pounds, CEBR Says - Bloomberg.com

    Quantitative Easing cannot end. For if it does it will simply reset back to the purpose it was first required.
    Its certainly a good way to take the money out of the pockets of old age pensioners.

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    Having my salary linked to inflation seems like a good thing!!
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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    Quote Originally Posted by Cael View Post
    Its certainly a good way to take the money out of the pockets of old age pensioners.
    Inflation is a tax on the poor.

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