Friday, October 7, 2011

Central banker predicts his own doom

World facing worst financial crisis in history, Bank of England Governor says 

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.

Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.
Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.
Comment: At first central bankers provoked the crisis and since when it began to happen they make it worse with both their deeds and mouths.

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