Friday 7 October 2011

So is this Plan B? £75billion round of money printing is right weapon to shore up our economy, says Osborne

Daily Mail
"The Bank said the latest bout of money printing will take four months to complete but added that ‘the scale of the programme will be kept under review’ – a hint that it may do even more next year. It is thought that as much as £300billion could be printed this time around – taking the total to an eventual £500billion.

Conservative MEP Daniel Hannan said: ‘Nothing new will be manufactured, invented or developed as the result of this monetary splurge, no services offered, no businesses founded. ‘Rather, the money already in circulation – the money in your bank account, in your purse, under your mattress – will be worth less.

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