BOE and Central Banks; The Madness of KING and GEORGE

This topic contains 40 replies, has 9 voices, and was last updated by  angie 6 years, 1 month ago.

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  • #56378

    angie
    Spectator

    I don’t fully understand what’s going on but some leading economists suggest that Mervy King of the BOE having stated they will pump another 75Billlion Β£s through QE into UK PLC was a panic move, bringing it forward because they and Osborne have run out of ideas/options and, more seriously that this is a con, a cover up for something more sinister!

    What though? Now today we hear 12 UK Banks have been downgraded by Moodys, including Lloyds, RBS and Santander. Also that RBS may need another bailout by the UK taxpayer.

    What with Dexia up the creek, shares suspended and the likely knock on with all Banks it looks like some Banks will fail this time and not receive Gov’t/Central Bank support, if so, could there be another run on a Bank as with Northern Rock?

    In the UK the headline should read :

    King and George in Bed Together screwing Savers and Pensioners whilst helping fraudsters through Liars Loans.

    It seems that the UK Gov;t, the BOE, the Banks and the FSA are complicit in the interest rate policy, not just the BOE, whilst turning blind eyes to the 70 Billion UK mortgage fraud that went on in the boom. Now we know more about the QE and why the Banks are up to their necks in exposure if the housing market bombs. 😑

    Another rant over πŸ™„

  • #106077

    Anonymous
    Participant

    Everybody can rant as much as they want, but there are really very few solutions to the current problems.
    We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.

    Bankers like King are just buying time hoping for the best. Savers are the least of their worries.

  • #105877

    Anonymous
    Participant

    Everybody can rant as much as they want, but there are really very few solutions to the current problems.
    We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.

    Bankers like King are just buying time hoping for the best. Savers are the least of their worries.

  • #106082

    Chopera
    Participant

    @flosmichael wrote:

    Everybody can rant as much as they want, but there are really very few solutions to the current problems.
    We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.

    Bankers like King are just buying time hoping for the best. Savers are the least of their worries.

    Yup. To be fair pensioners shouldn’t complain too much about QE because although it (probably) has caused some awkward inflation, it has also (re)inflated asset prices and prevented the odd pension plan from going bust. Without QE UK house prices would have dropped a lot more, and so would the stock market. Both of which are probably more important to many pensioners than the price of fish going up by a few percent.

  • #105882

    Chopera
    Participant

    @flosmichael wrote:

    Everybody can rant as much as they want, but there are really very few solutions to the current problems.
    We are at the end of a Ponzi scheme when the baby-boomers reduce their investment as they need money for retirement/health problems and the younger generations are too indebted by the huge mortgage deals they entered in order to buy way-overprice houses.

    Bankers like King are just buying time hoping for the best. Savers are the least of their worries.

    Yup. To be fair pensioners shouldn’t complain too much about QE because although it (probably) has caused some awkward inflation, it has also (re)inflated asset prices and prevented the odd pension plan from going bust. Without QE UK house prices would have dropped a lot more, and so would the stock market. Both of which are probably more important to many pensioners than the price of fish going up by a few percent.

  • #106085

    Anonymous
    Participant

    Angie: Love the creativity of the heading of the subject.

  • #105885

    Anonymous
    Participant

    Angie: Love the creativity of the heading of the subject.

  • #106095

    angie
    Spectator

    Thanks shakeel, I quite enjoy creating these headlines for various topics πŸ˜›

    I had thought about another : ‘George offers Little to Savers’, or ‘George wallpapers over Savers and Pensioners’ these being a reference to George Osborne’s family being the Osborne and Little fabric and wallpaper company. Not forgetting ‘Mervyn Panic King’ πŸ˜›

    Regarding King, there were some quite amusing letters about him recently on back of Saturday’s Telegraph money page, one of them in particular which referred to him being a bit of a nasty bit of work (ref Savers again) yet looking like everyone’s favourite uncle with his glasses and white curly hair. Whilst many are suffering in the UK, both he and Charles Bean live the high life jetting off Business and 1st Class to conferences, they eat in the exclusive Walbrook Club in the City and other top clubs, enjoy loads of free hospitality to many sporting and entertainment events, get paid 250k per annum each plus expenses etc etc and yet it’s recorded that they have made several major cock-ups on interest rates’ timings behind the curve constantly, have lost credibility with inflation problems which they blame on the World’s problems (never their own), they both know about the huge Liars Loans fraud. I know most of this because I asked questions under Freedom of Information act, know a few Chefs where he eats and have received letters from him which continually pay lip-service and even downright lies 😑

    It’s all good fun πŸ˜›

  • #105895

    angie
    Spectator

    Thanks shakeel, I quite enjoy creating these headlines for various topics πŸ˜›

    I had thought about another : ‘George offers Little to Savers’, or ‘George wallpapers over Savers and Pensioners’ these being a reference to George Osborne’s family being the Osborne and Little fabric and wallpaper company. Not forgetting ‘Mervyn Panic King’ πŸ˜›

    Regarding King, there were some quite amusing letters about him recently on back of Saturday’s Telegraph money page, one of them in particular which referred to him being a bit of a nasty bit of work (ref Savers again) yet looking like everyone’s favourite uncle with his glasses and white curly hair. Whilst many are suffering in the UK, both he and Charles Bean live the high life jetting off Business and 1st Class to conferences, they eat in the exclusive Walbrook Club in the City and other top clubs, enjoy loads of free hospitality to many sporting and entertainment events, get paid 250k per annum each plus expenses etc etc and yet it’s recorded that they have made several major cock-ups on interest rates’ timings behind the curve constantly, have lost credibility with inflation problems which they blame on the World’s problems (never their own), they both know about the huge Liars Loans fraud. I know most of this because I asked questions under Freedom of Information act, know a few Chefs where he eats and have received letters from him which continually pay lip-service and even downright lies 😑

    It’s all good fun πŸ˜›

  • #106096

    angie
    Spectator

    And, King was Knighted for all his cock-ups and cover-ups!! πŸ˜†

  • #105896

    angie
    Spectator

    And, King was Knighted for all his cock-ups and cover-ups!! πŸ˜†

  • #106098

    peterhun
    Participant

    He’s saving the debtors, you know, the people who are responsible for this mess.

    I’m afraid that the only solution is to hike yourself in debt and enjoy the ride. You can’t beat them.

  • #105898

    peterhun
    Participant

    He’s saving the debtors, you know, the people who are responsible for this mess.

    I’m afraid that the only solution is to hike yourself in debt and enjoy the ride. You can’t beat them.

  • #106111

    angie
    Spectator

    Well said Peter, that’s very good advice and reply.

    Yes the debtors got us in to this mess and yes the Coalition, B.O.E., Treasury, FSA etc are turning their blind eyes to this fraud and, even helping their own out. πŸ™„

  • #105911

    angie
    Spectator

    Well said Peter, that’s very good advice and reply.

    Yes the debtors got us in to this mess and yes the Coalition, B.O.E., Treasury, FSA etc are turning their blind eyes to this fraud and, even helping their own out. πŸ™„

  • #106114

    katy
    Spectator

    And the fiddling and fudging in the Eurozone is threatening and holding back the world’s economy!

  • #105914

    katy
    Spectator

    And the fiddling and fudging in the Eurozone is threatening and holding back the world’s economy!

  • #106124

    peterhun
    Participant

    The world economy has destroyed itself with debt. Whatever the Euro zone does will make no difference. The debt has to be reduced, they is no capacity for more, anywhere. Even China has managed to increase its debt by 100% of GDP in a couple of years.

    We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.

  • #105924

    peterhun
    Participant

    The world economy has destroyed itself with debt. Whatever the Euro zone does will make no difference. The debt has to be reduced, they is no capacity for more, anywhere. Even China has managed to increase its debt by 100% of GDP in a couple of years.

    We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.

  • #106129

    Anonymous
    Participant

    @peterhun wrote:

    We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.

    Yes there is. It’s called inflation. It’s a devious way to steal money from savers and pay off debts, especially government debts. I wouldn’t be surprised if the UK has 10pc inflation in a couple of years. It’s already up near 5pc and what are King and George doing about it? Printing more money of course.

    Inflation is always and everywhere a monetary phenomenon. Friedman said that. It’s not like we don’t know what causes inflation.

    Anyway, it’s obvious they have decided that inflation is better than grinding deflation, and they are probably right. If you let vandals like Brown run the economy for 10 years borrowing and spending like a lunatic, which the British electorate did, then you have to pay the price. Once in a debt trap, inflation is the only way out, regardless of the harm it does to people who save and live within their means.

  • #105929

    Anonymous
    Participant

    @peterhun wrote:

    We a looking at a ‘lost decade’ scenario (as in Japan), low growth, falling asset values (property esp.) for a very long time and there is no magic wand to fix it.

    Yes there is. It’s called inflation. It’s a devious way to steal money from savers and pay off debts, especially government debts. I wouldn’t be surprised if the UK has 10pc inflation in a couple of years. It’s already up near 5pc and what are King and George doing about it? Printing more money of course.

    Inflation is always and everywhere a monetary phenomenon. Friedman said that. It’s not like we don’t know what causes inflation.

    Anyway, it’s obvious they have decided that inflation is better than grinding deflation, and they are probably right. If you let vandals like Brown run the economy for 10 years borrowing and spending like a lunatic, which the British electorate did, then you have to pay the price. Once in a debt trap, inflation is the only way out, regardless of the harm it does to people who save and live within their means.

  • #106131

    peterhun
    Participant

    Printing money may also causes job loses. Large companies pension schemes will need cash injections to over come the losses in yield. Double whammy.

    BTW, there’s also carpet bombing as an alternative to inflation, its helicopters with money or B-52’s with HE. Same thing.

  • #105931

    peterhun
    Participant

    Printing money may also causes job loses. Large companies pension schemes will need cash injections to over come the losses in yield. Double whammy.

    BTW, there’s also carpet bombing as an alternative to inflation, its helicopters with money or B-52’s with HE. Same thing.

  • #106146

    angie
    Spectator

    ‘We’re all in this together’ says Cam-moron and Osborne.
    ‘We know what it’s like for everyone who is finding things hard’ they say.
    ‘We have kept interest rates at record lows’ they say (with no mention of savers’ problems)

    These comments coming from 2 multi-millionaires, members of 18 multi-millionaires who sit in the Coalition (incs. Lib Dems) 18 from 21 and the other 3 only millionaires yet aspiring multi-millionaires.

    Not many of the population went to Eton/Harrow and then Oxbridge!

    Not forgetting that many in this Coalition have offshore funds in tax havens like Cayman Islands, like Phillip Hammond with his 7-8 million pound fund.

    Now, let them tackle their own greedy members as well as the Likes of Phillip Green who avoid nay evade their UK taxes, then we might be all in this together.

    Sorry to rant about UK greed but makes a change from ranting at Spanish property greed πŸ™„

  • #105946

    angie
    Spectator

    ‘We’re all in this together’ says Cam-moron and Osborne.
    ‘We know what it’s like for everyone who is finding things hard’ they say.
    ‘We have kept interest rates at record lows’ they say (with no mention of savers’ problems)

    These comments coming from 2 multi-millionaires, members of 18 multi-millionaires who sit in the Coalition (incs. Lib Dems) 18 from 21 and the other 3 only millionaires yet aspiring multi-millionaires.

    Not many of the population went to Eton/Harrow and then Oxbridge!

    Not forgetting that many in this Coalition have offshore funds in tax havens like Cayman Islands, like Phillip Hammond with his 7-8 million pound fund.

    Now, let them tackle their own greedy members as well as the Likes of Phillip Green who avoid nay evade their UK taxes, then we might be all in this together.

    Sorry to rant about UK greed but makes a change from ranting at Spanish property greed πŸ™„

  • #106147

    Chris M
    Participant

    @angie wrote:

    Sorry to rant about UK greed but makes a change from ranting at Spanish property greed πŸ™„

    Yay…! Keep it up Angie… It’s all good stuff, its what keeps bringing me back to the forum! πŸ˜‰

  • #105947

    Chris M
    Participant

    @angie wrote:

    Sorry to rant about UK greed but makes a change from ranting at Spanish property greed πŸ™„

    Yay…! Keep it up Angie… It’s all good stuff, its what keeps bringing me back to the forum! πŸ˜‰

  • #106153

    Mexberry
    Participant

    Angie,
    I presume you worked for the N.of the World – Please if you do have an image of George and King in bed together keep it to yourself – the sight of two pale fleshy bodies on a futon will spoil dinner!

  • #105953

    Mexberry
    Participant

    Angie,
    I presume you worked for the N.of the World – Please if you do have an image of George and King in bed together keep it to yourself – the sight of two pale fleshy bodies on a futon will spoil dinner!

  • #106154

    Anonymous
    Participant

    Will it be acceptable to Mex, if Osborne is pasted in one of his very expensive & wonderful wall paper

  • #105954

    Anonymous
    Participant

    Will it be acceptable to Mex, if Osborne is pasted in one of his very expensive & wonderful wall paper

  • #106177

    angie
    Spectator

    I just love those 3 replies from Chris, Mexberry and shakeel so thanks for them πŸ˜›

    A pal of mine went on BBC radio 4 World at One today re the latest UK inflation figures which rather knocks Ca-moron, Osborne and Panic-King, inflation is out of hand and maybe worse is to come for the UK πŸ™„

    I might one day think of bagging a bargain in Spain but, I’m thinking of putting a consortium together to buy Greece soon πŸ˜†

  • #105977

    angie
    Spectator

    I just love those 3 replies from Chris, Mexberry and shakeel so thanks for them πŸ˜›

    A pal of mine went on BBC radio 4 World at One today re the latest UK inflation figures which rather knocks Ca-moron, Osborne and Panic-King, inflation is out of hand and maybe worse is to come for the UK πŸ™„

    I might one day think of bagging a bargain in Spain but, I’m thinking of putting a consortium together to buy Greece soon πŸ˜†

  • #106179

    Anonymous
    Participant

    Greece as a collateral may not be acceptable to the lenders from whom if you were planning to raise the finance. If you are lucky enough to find a lender.

  • #105979

    Anonymous
    Participant

    Greece as a collateral may not be acceptable to the lenders from whom if you were planning to raise the finance. If you are lucky enough to find a lender.

  • #106180

    katy
    Spectator

    I read yesterday that money from Greece has been pouring into London in investments as the rich Greeks are getting worried.

  • #105980

    katy
    Spectator

    I read yesterday that money from Greece has been pouring into London in investments as the rich Greeks are getting worried.

  • #106182

    Anonymous
    Participant

    Does not surprise, rich & professional Greeks have been in UK , long before the crises.

  • #105982

    Anonymous
    Participant

    Does not surprise, rich & professional Greeks have been in UK , long before the crises.

  • #106000

    angie
    Spectator

    My post was a tongue in cheek joke about buying Greece, the country, not an individual property, I have a few euros put by πŸ˜†

  • #106200

    angie
    Spectator

    My post was a tongue in cheek joke about buying Greece, the country, not an individual property, I have a few euros put by πŸ˜†

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