Interest rates got dropped again today....lowest for about a million years or so...not only that, the BoE are pumping 75billion squiddies and a whole lot more into the economy, thinking it'll give it a bit of a boost...
I read on the BBC News website this morning
Quantitative easing is the process of increasing the amount of money in circulation in an attempt to revive the economy.
While the Bank will initially add £75bn, Chancellor Alistair Darling has given it permission to extend this to up to £150bn.
The idea is that if the amount of money in the system is boosted, commercial banks will find it easier to lend.
Quantitative easing is sometimes incorrectly referred to as printing money, but the Bank will not expand the supply of money by making new banknotes.
Instead, it will buy assets - such as government securities (gilts) and corporate bonds.
So it will just be printing money then....hoorah, glad we have got to the bottom of what bonds are....bits of paper....for the printing on of many more bits of paper. Wow, and like the BoE can just say, "here, have 75 billion".....they can, but it's worth nothing now....I think the amazingness was right...maybe this hyperinflation thing will come about, and perhaps we will be rioting over a loaf of bread....but then they can get rid of the paupers, it'll become a time of survival of the fittest, and that could see the end of you or I....but fear not....it'll only hurt for a little while....besides, you'd be damn lucky to escape from this evil corrupt world....
However, until that day comes, enjoy what small things you have, for it's life's small things that will give you the greatest comfort in the dark times...even if it's just a nice warm cosy duvet :)
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