Bank of England asks Darling's permission to start printing more money as Brown calls for a new global economic deal

Daily Mail
"The meeting came after policymakers on its Monetary Policy Committee unanimously agreed they have no choice but to start printing money to ease the credit crisis.Mr King formally communicated that wish to Mr Darling, where he asked for consent to 'conduct purchases of government and other securities, financed by the creation of central bank money,' ....
Howard Archer, economist at IHS Global Insight, said: 'It is now very much a question of when will - rather than will - the Bank of England engage in quantitative easing.
'The answer seems to be sooner rather than later - very possibly as soon as March - and that this will take up the thrust of the Bank of England's efforts to drive the economy out of recession.'
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COMMENT: "quantitative easing" (printing money) is a form of devaluation in all but name.

PS The Bank of England has been doing this for over a year,so now it goes into overdrive!