I see that official UK inflation (CPI) has reached 4.5%, at this rate money halves in value every 13 years. In May 2010 Mervyn King said in his letter to George Osborne that CPI would hit 1.7% this year.
Will Mervyn King be asked why he was so far out with his 2010 projection?
Will Mervyn King be asked why any of his subsequent projections should be trusted?
Will anyone ask if this high inflation rate might just possibly be the result of the Quantatative Easing policy of the last Labour government?
Will anyone ask a politician or central banker if inflation is deliberately being allowed to rise so as to reduce the level of UK government debt?
Will anyone ask, if the above is the case, what the UK population should do to protect themselves other than buy gold or other non monetary linked assets?
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3 hours ago
3 comments:
I tend to agree with you that it was deliberate Labour policy and is being continued by this pathetic coalition in collusion with the Bank of England.
To be fair, energy and food prices are mostly out of Government control
( although both made worse by the decisions that the UK should not be self-sufficient in either.
Why ? ).
Both the RPI and CPI are false. I guess the real rate of inflation is nearer 10%. So heading for disaster.
I believe there is a rock
song "You ain't seen nothing yet " !
All of the above.
Labour printed money, the Cleggerons are doing nothing much to reduce the deficit or the debt (despite all the sound and fury), and it suits the whole political class very nicely if Granny's savings are halved in thirteen years - after all, who benefits? Their clients do, and they get re-elected.
Simples.
Inflation is deliberate.
Weekend Yachtsman,
Quite agree, it is deliberate and we have been here before.
And who gives a damn about Granny ?
But she may have the last laugh as her savings won't be sufficient to pay the care home fees. But I guess the politicians will just dump her in the gutter.
Scumbags, the lot of them.
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