Printing Money To Be Hidden

Guido has written this week about the wheel barrow based monetary policy. We wrote here a while ago about the loss of control over monetary policy by the Bank of England and also noted the change in the Banking Bill which will provide a get out.

The Telegraph reports this today, hopefully to wider audience. Despite my kite flying of a couple of months ago I am utterly against quantitative easing. The only reason the Yanks can get away with it is that they have the Dollar, the world’s reserve currency. We don’t, we have the sickly British Krona.

This will collapse as capital flies the UK when we begin printing money. The Government will then get its guilt’s strike that it is angling for with its insane borrowing policies to escape the borrowing crisis.

Personally, I could do well from high inflation, hugely in debt and with no cash savings, I would find a way out. We will discuss on the blog as time gets nearer how we can all avoid being wiped out; but many won’t escape and they will be the oldest and poorest in society.

This will be the legacy of New Labour.

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