Bank of England agrees to inject £ 75 billion to shield the British economy

Thursday, October 6th 2011 - 16:59 UTC

Full article 10 comments

The Bank of England will inject 75 billion pounds to shield Britain's economy from the Euro zone debt crisis and keep a faltering recovery going, opting for an early, dramatic move to maximise the impact. Read full article

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Marcos Alejandro
Telegraph
“Bank of England governor says the financial crisis is ”at least“ as bad as the Great Depression as central bank launches an extra £75bn of 'MONEY PRINTING' to help ease severe strains in bank funding”

http://www.debtbombshell.com/
Oct 06th, 2011 - 05:34 pm - Link - Report abuse 0
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geo
in 2007 ..UK gross government debt ... 43,9 % GDP

in 2011 ..UK gross government debt ... 80,8 % GDP.
Oct 06th, 2011 - 07:43 pm - Link - Report abuse 0
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Fido Dido
yeah wohooo, keep printing money, where does it goes? the bankster, but I'm sure that's all fine for the “people” in the UK, they love it.
Oct 06th, 2011 - 10:04 pm - Link - Report abuse 0
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Marcos Alejandro
Yes keep printing money!

“Quantitative easing by the Bank of England: printing more money won’t work this time”

http://www.telegraph.co.uk/finance/financialcrisis/8811210/Quantitative-easing-by-the-Bank-of-England-printing-more-money-wont-work-this-time.html
Oct 07th, 2011 - 04:43 am - Link - Report abuse 0
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lsolde
Can you spare me a few Pesos please, Marcos?
Oct 07th, 2011 - 08:16 am - Link - Report abuse 0
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Teaboy2
@geo #2 in 2011 ..UK gross government debt ... 80,8 % GDP.

actually its 60.6% as of july 2011. So get your facts right before posting inaccurate figures. Also back in 1940's through to the 1950's it was between 200-250% GDP. Did that break britain back then? No it didn't, so it won't break us now either. In fact in order to bring the GDP back down to 40% by 2015 we only need to cut spending by 1.5%. Our economy is a lot bigger than it was in the 40's and 50's so if would could survive 200 - 250% GDP back then am sure we can survive higher levels then that now.

Unlike argentina who are going to end up being swallowed up by inflation like zimbabwe was. Your Bread prices are about to go up to 10 peso per kilo an 800g loaf in the UK only costs £1.37. But its not just bread prices increasing its all products that are made from flour. And the only reason the bread prices were not higher before now, is simply due to government subsidising flour mills in return for fixed shelve prices. But now your government has gone back on their agreement. Basically a 1 kilo loaf sets you back a tenner in your money thats like us having to pay £10 for a loaf if the peso was the same value as the pound lol.
Oct 07th, 2011 - 12:31 pm - Link - Report abuse 0
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Marcos Alejandro
5 lsolde , What about a milking cow?
Oct 07th, 2011 - 03:56 pm - Link - Report abuse 0
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Conqueror
Oh look! As of 4 October 2011, Argentina only owes $11.2 billion in defaulted debt. Plus $8.2 billion to the Paris Club. Plus $9.1 billion for regular debt servicing. Plus $7.6 billion for multilateral lenders and the capital and interest on bonds. Only $36.1 billion then. Not forgetting 25% inflation.

Oh, and look! Unlike Britain, Argentina has no access to international capital markets.

What a wonderful place Argentina must be....not!
Oct 07th, 2011 - 04:38 pm - Link - Report abuse 0
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Fido Dido
again..what is Quantitative easing?

Quantitative easing= B.O.E. prints money like crazy, buys the the debt of the banks that lost at the casino, and puts it on the name of the people “national debt”. have a nice day.
Oct 08th, 2011 - 02:12 am - Link - Report abuse 0
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Teaboy2
@Fido #9

Its clear you do not understand what quantituve easing is. In this case the bank are not actually printing new money they are merely creating money electornically and crediting it to investors accounts, giving investers more money to invest where by they repay the bank of england from profits made on investsments. Also some of the electronic funds are used by the bank to buy gilts (from the british government).

The last time the bank of england did this the economy grew by 1.5% and that was in 2008. So no, it doesn't actually add to national debt at all as the money is not being borrowed by the bank of england from anyone.
Oct 08th, 2011 - 01:48 pm - Link - Report abuse 0
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