Wednesday, 18 February 2009

Quantative Easing (update)

The BBC report that:
"The Bank of England is seeking approval from the government for a series of measures aimed at increasing the supply of money in the economy.

Technically known as quantitative easing, the aim of the process is to try to increase the amount of funds in the UK banking system.

The hope is that this will make it easier for the commercial banks to start to increase their lending levels.

Analysts said the Bank could start to introduce measures within days.

These are likely to include the purchase of both government and corporate bonds.

The bank's decision to introduce quantitative easing was unanimously agreed by its nine-member Monetary Policy Committee (MPC) at their meeting earlier this month. "

Hyper-inflation here we come; the Zimbabweisation of the UK continues apace. Harassment of opposition MPs, totalitarian security laws and now hyper-inflation, welcome to the third world.

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