Is Gordon Clown about to start printing money?

[jesusbuiltmycar]

link

Looks like GB is abolishing a the 1844 Bankning Bill, which basically stated that the Bank Of England would produce weekly accounts....

By abolishing this bill the Bank of England can produce accounts as a when it sees fit...

Could this be a precurser to GB turning on the presses and printing money?

Edited by jesusbuiltmycar on Friday 5th December 19:21

[runway78]

I wouldn't laugh to much, its the only bullet left in the gun.

The BofE is going to have to replace the wholesale market if they want to get banks lending again, end of.

Brown, has finally worked out you cant have banks, cut interest rates, have great captial ratios, pay the govenrment back, and lend money out all at once.

Lower interest rates aren't working due to job fears stopping people spend, and the fact Libor and BofE base rate seem no longer linked.

Only problem with printing more cash is the pound, its going to fall even futher, and its on the edge of a run now!

[anonymous-user]

runway78 said:

Only problem with printing more cash is the pound, its going to fall even futher, and its on the edge of a run now!

Pictures of people burning banknotes to try and stay warm in the Weimar Republic spring to mind.

[grumbledoak]

runway78 said:

its the only bullet left in the gun.

He was dumb, he's remained dumb. With the economy screwed the currency will falter. Now, he'll have little choice other than to print more to pay off the promises he's made. Welcome to inflationsville, population: us.

Same old, same old.

[BeerForBreakfast]

Merry Christmas everyone.

[robm3]

He could sell all our gold reserves to cover the debts.....oh ste, wait a minute....

[Frederick]

Isn't this rather similar to what a certain Robert Mugabe did in Zimbabwe?

Printing more and more money in order to prop up a failing economy leading to hyper-inflation and a worthless currency?

[voyds9]

Frederick said:

Isn't this rather similar to what a certain Robert Mugabe did in Zimbabwe?

Printing more and more money in order to prop up a failing economy leading to hyper-inflation and a worthless currency?

Well Mugabe will need somewhere to rule when they throw him out, so it could be here.

[Simpo Two]

Good job Brown is so PRUDENT - think of the mess we'd be in otherwise...

[Skywalker]

There's nothing to see here - move along.

We are almost nowhere near drawing extra noughts on the bank notes and taking wheelbarrows to the bank.

You can trust Gordon.

He is so prudent you wouldn't see him fk the country's economy up the arse for over a decade. Someone will convince you all that he didn't really sell the gold for a major loss; rob the pensions; drive the national debt the way of all things labour; make government the employer of last resort by increasing the number of jobs paid for by the state by an exponential level.

It's good to know that the cowardly st had the honour & decency to stand up for his beliefs and sign the european constitution in front of the whole world's media and assembled politicians, consigning the sovereign state of the nation to the past.

Oh...sorry...my mistake

[sa_20v]

No more boom and bust...

Doesn't matter if you've got money in the bank or are in debt - any way you look at it, we be fked...

[FourWheelDrift]

I wonder if the irony has been lost on Gordon that he is doing exactly the same thing as all the people in the UK (and USA) who took out loans and credit they could not afford to pay back causing the problem in the first place.

I wonder if Brown will be using Ocean Finance?

[Puggit]

Or we could always rescue ourselves by converting to the euro

[sadako]

Puggit said:

Or we could always rescue ourselves by converting to the euro

Forgive me if i know little of the finer points of economics but that gives me an idea. What is the betting they will try that when the currency is eventually worth feck all so the economy will remain weak in the UK for a very long time afterwards as it has no potential of recovering independent of another currency.

[Stealth-wagon]

Side splittingly funny, but just a bit too close for comfort... well worth two minutes of your time :-

http://uk.youtube.com/watch?v=wtIjgsxe-jM


How much more crap served up by our unelected 'leader' will it take for the British people to WAKE UP ???

[callyman]

Brilliant.

[danrc]

Forgive me for being stupid but how can he even contemplate this?! Has the Queen got no say in this? I wonder what she makes of her country going to dogs?

[Scrotum]

Sobering viewing, i cannot believe this man is our PM....

http://uk.youtube.com/watch?v=lKz-aO6LU8s&feat...

[Simpo Two]

danrc said:

Forgive me for being stupid but how can he even contemplate this?! Has the Queen got no say in this?

Regrettably not. Since about the time of King John the power of the monarch has gradually been eroded by Parliament until all they can do is appear on stamps. Ideally you need a balance of course, and Parliament is needed as a controlling influence, but the balance of power is now 100% Parliament. When that Parliament comprised men of intelligence and life experience things were OK, but now that it contains 20-something idealistic career politicians qualified only in PR and concerned mostly with getting re-elected, the whole thing goes up its own bumhole. Add to this the fact that a significant proportion of the electorate are now ill-eduated bottom-feeders who care nothing for the good of the country but only for who will give them the most benefits - and I present you with the Great Britain of the 21st century. It's nothing to be proud of.

[Zod]

Scrotum said:

Sobering viewing, i cannot believe this man is our PM....

http://uk.youtube.com/watch?v=lKz-aO6LU8s&feat...

He is clueless.