(This article is repeated from way back in Boz’s archives, when he predicted inflation was on its way as long ago as March 2009. I take no smug pleasure in being proved right. Inflation will go through the roof soon; you ain’t seen nothing yet ! )
You too can will shortly be carrying your loose change around in a wheelbarrow just to buy a loaf of bread or pint of milk, exactly as they have been doing for ages in Zimbabwe.
Governor of the Bank of England, Mervyn King, announced today ( that would be back on March 5th 2009) that Goofy Gordon and the Darling Chancellor have cooked up another wheeze with the Bank of England to destroy the UK economy even more than it already has been by the greedy, unprincipled, immoral, banks.
Gordon’s great idea, with Mervyn King’s connivance, is to print lots and lots more bank notes. This is because the banks are hoarding all the money they can lay their sticky, dishonest little fingers on and no one else has any money to buy anything with.
No doubt the banks will get their hands on that new money too for a while, and the Government will be forced to print more and more pretty little bank notes with the fairytale idea that all those impressively printed and colourful little bits of paper will have real value and worth, and people will be convinced they are rich enough again to be able to spend money to buy things, employ people to make them, and generally kick-start the economy.
Garbage ! What it really means is the economy will nosedive even further and inflation never before experienced outside of Third World comedy economies like Zimbabwe will take root in the UK.
Well done Gordon and cronies. You did it yet again !
What would do wonders for solving the economy here and the rest of the World would be to arrest a few bankers and charge them with fraud and throw them in jail for a while. That might encourage banks to stop behaving like thieves and try and be a bit more honest in their dealings.
It is purely the deceit and dishonesty of the banks which have caused this global economic crisis, so the people responsible should be punished. They undermined everybody’s trust in money and the entire system of banking as they committed more and more fraud of one sort or another. They ended up not even being able to trust each other. There’s no trust among thieves, the old saying goes.
That certainly proved right in the case of the banks !
It might be a good idea to let the whole lot of them go bankrupt and completely reform the entire banking system at the same time.
The banks have proved they cannot be trusted to run the financial system, so it needs to be done differently, more intelligently, and by more honest organisations.