According to Bloomberg this morning: UK gas producers and electricity generators may make excess profits totaling as much as £170 billion ($199 billion) over the
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Of course banks are not putting up savings rates: they really do not want or even need savers’ money
As The Guardian has noted: Millions of people are being short-changed on savings rates, with banks and building societies failing to pass on this month’s
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Interest rate rises are just another nightmare to add into the economic meltdown mix
On LBC at about 13.50 today: Political economist @RichardJMurphy: In my opinion, there should have been no interest rate rises at all@ShelaghFogarty pic.twitter.com/DJ1m3wlfku — LBC
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US banks are learning a lesson in failing to keep appropriate records: it’s a shame our dodgy government is not being required to do so as well
As the FT notes in an email this morning: As Brooke Masters writes in this week’s column, governments and companies have long known they must capture important communications for
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Banks and building societies might make £30 billion out of increasing mortgage rates – not a penny of which will be due to their efforts. So when is a windfall tax going to be imposed on them?
There are mortgages to a value of approximately £1.6 trillion (£1,630 billion) outstanding in the UK at present. The interest rate on these will be
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We need a windfall tax on banks – now
This is from the FT this morning: Spain became the largest eurozone country to impose a windfall tax on banks in a sign of European
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Andrew Bailey is right to forecast deep economic woe for the UK because that’s exactly what he’s planning on delivering
As the Guardian notes this morning: Britons should expect to suffer a more severe bout of inflation than other major economies during the current energy
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The double entry behind the money creation in the central bank reserve accounts
I have been asked for a blog post explaining the double-entry that explains the money creation in the central bank reserve accounts that commercial banks
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How are the central bank reserve accounts created?
I have been asked to explain how the central bank reserve accounts held by the commercial banks with the Bank of England are created. This
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Richard Murphy
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