Telegraph
"Market insiders said that most of the gilt selling had been done instead by investment banks and hedge funds, many of whom had been buying gilts from the Debt Management Office and merely selling them straight onto the Bank for an instant profit."
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Why should 'printing money' succeed here when it failed in Japan ?
"..The Japanese (and for that matter the Americans) spent around 5pc of their GDP on QE, printing money to buy up assets. The Bank of England, on the other hand, has committed to spending just over 10pc of GDP. This is a hell of a lot of money. A terrifying amount."
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Although the process of pumping billions into the economy is known as printing money, it in fact involves the Bank buying gilts and other assets from banks and paying for them with newly created money that is wired into their accounts.(Daily Mail)
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