Savers have hit for £70bn as printing money ‘helps rich’ admits Bank of England #behindthecurve #BOE #eurocrisis


The Bank of England in Threadneedle Street, Lo...

The Bank of England in Threadneedle Street, London. Deutsch: Sitz der Bank von England in der Londoner Threadneedle Street. (Photo credit: Wikipedia)

Even in recession the rich get richer: Savers have been hit for £70bn as printing money ‘helps rich’ admits Bank of England | Mail Online.

A staggering admission from The Bank of England, leaves the average reader totally dumbfounded as to why there is no change in direction over monetary policy.

Evidently, according to our great leader at The Bank

‘Without the Bank’s asset purchases, most people in the United Kingdom would have been worse off. Economic growth would have been lower. Unemployment would have been higher. Many more companies would have gone out of business. This would have had a significant detrimental impact on savers and pensioners along with every other group in our society.’

Well to be honest, if The Bank keeps up the same policy, that is exactly where we are heading, into a deeper and deeper downward spiral.

Common sense, put up interest rates NOW!

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