UK government may start "printing" money today..
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- moth0
Wish I'd got a tracker mortgage
- kezza_20
"Interest rates have now been reduced six times since October, and the latest half a percentage point cut from January's 1% had been expected.
The Bank said it would expand the amount of money in the system by £75bn in an attempt to boost bank lending.
This policy, so far untried in the UK, is called quantitative easing.
Buying assets
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. "
Anyone else think no one has a fucking clue what they're doing.
- moth0
Every country that ever tried this, tried this an failed.
- maximillion_0
I heard Aus is looking for talent
- lowimpakt0
AUS can fuck off..
- 23kon0
i used to b&w photocopy fivers then colour them in with coloured pencils at my dads work when i was wee.
i'd then go out and use sticks to pick up dog shits and put the fake fivers under them, then walk round the block and come back to find it gone - some tink had picked it up!slightly off topic lol
someone was on about a better way to distrubute this extra money - rather than giving it to financial institutions for them to pass on the benefits to us - which just ISNT going to happen, its only going to be used to rescue themselves or line their own pockets. this other idea was to just helicopter drop loads of money to the population, then we'd all kickstart the economy by going out and spending al that cash we'd picked up by buying flatscreen tv's n stuff.
a better idea would be to distribute the money to people in relation to the taxes they pay. it means that joe bloggs like you and me get a good fair share and folk that sponge from the state get little or none.
- moth0
I reckon that would start a riot 23kon.
The best way is cashless. They should put a freeze on income tax for a month.
- moth0
cunts.
- moth0
Who the fuck sends a final demand a day before the due date?
That's right - a cunt.
- mistermik0
- we should just invent a new money system.
- 23kon0
yeah im not saying printing more money is a good idea.
but if they are going to ... dont give it to the financial institutions to distribute. they are the c*nts that got us into this mess in the first place!
- The banks are why they're doing it. Why would they give the money away when they can give it to their golf buddies?raf
- chossy0
Bear in mind as well that the people who got the mortgages etc. were lying to their back teeth about what they earned, and thought that they could live in a very very expensive house.
The banks were morons to lend the money but the people who took the money are just as liable, in addition to this there should have been stricter rules on the lending of money but then people would all bitch about how they can't get a loan.
Things will sort themselves out in the long run but it will be a long run.
- raf0
This can only work one way, prepare for..
- mistermik0
chossy works in a bank.
- raf0
It's scary to think what they're up to. Why are they trying to fuck up the economy even further? Are they planning to shed the Sterling in fafour of Euro?
- kezza_20
Zimbabwe anyone?
- chossy0
I was anxious at the beginning of this week then on wednesday I had calmed down a wee bit, now after reading that I can bearly breathe.