Wednesday 25 November 2009

How the Bank of England made £62bn 'disappear'

Telegraph
"In order to hide the emergency loan, all it had to do was, when printing the details of its balance sheet, to plop the loans in the same category as these currency swaps. Voila, no-one could be sure that all that fizzing in the Bank’s accounts wasn’t just due to those volatile currency swaps."

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