Two stories from the FT make uncomfortable reading this morning:
Contrast that to this:
I have to say I do not believe the Bank of England, and I am sorry to say that. I need to believe someone and I hoped it was them but they are talking utter nonsense: it is glaringly obvious that the government is now on a pro-bank offensive and that Bank has been embraced in this process. So much for its independence.
I am sure the Bank has its own motives for denial. I suspect they are not attractive. I suspect they will cost most of us a great deal. But bankers not a lot.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Obviously the Tories would do what they have done. They are the political wing of the City of London after all. It is dissapointing if the BOE is in on this in some way. Wonder why . Suppose it doesn’t help that the Tories get to choose the main people
I think you’d agree with me, Richard, that any shred of evidence that the BoE is independent of government (the Treasury) has been lacking for some while. But I have to say that when I saw this story I was suprised at how blatant (and desperate) this fiction is. Just when I think that the government’s and establishment’s capacity to willfully misrepresent facts on a regular basis must have reached its zenith another, even bigger fiction emerges. Shocking!
And there was me, accused of threatening its independence last summer
That was nonsense if any was ever spoken
I was merely observing a truth