The Guernsey Press – and the Guernsey establishment – have not always been big fans of mine. I did my utmost to change the tax
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Does money just disappear in a crash?
When crashes happen, vast quantities of money are reported as being lost. But are they really? Or is it that they actually just cease to
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Rachel Reeves really is a very big threat to the well-being of this country
As Rachel Reeves made clear in her Mansion House speech last night, she wants to relax banking regulations. Big bonuses will be coming back, paid
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Too little, too late
The Bank of England has cut its base interest rate by 0.25% to 4.75%, leaving a positive real interest rate of nearly 3% in place
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Why doesn’t the Bank of England tell the truth?
The Bank of England knows that all money is created by lending. It has published papers that confirm that fact. They must, as a result,
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The risk that Andrew Bailey will bring the economy down remains very high
Two reports in the FT grabbed my attention this morning. The first concerns comments made by Andrew Bailey, Governor of the Bank of England, at
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We need a Bank of England, but not the one we’ve got
As far as most people know, the job of the Bank of England is to control inflation, which it has proved itself utterly unable to
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The case for large interest rate cuts is overwhelming
As the Office for National Statistics has reported this morning: The Consumer Prices Index (CPI) rose by 2.2% in the 12 months to August 2024,
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Can commercial banks create money out of thin air?
As a matter of fact, the Bank of England can always create money out of thin air. But can commercial banks really do so? The
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Richard Murphy
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