In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘Quantitive Easing’

The Mystery of Quantitive Easing

Posted by seumasach on February 10, 2012

Craig Murray has hit the nail on the head. The official narrative is devoid of sense – it is merely a cover for the reality of further bailouts. We should be opposing QE i,e, bailout and, as a logical corollary, calling for the banks to be put through bankruptcy proceedings. This is the next step which must be taken if we are to avoid disaster. The state would have to take on some of the banks liabilities, having foolishly bought large shareholdings in some of them, and would have to guarantee deposits. The state itself would then be bankrupt and would have to negotiate a settlement with our creditors. Debt could be written off in exchange for our abandonment of our current aggressive foreign policy, our leaving NATO, and adoption of a policy of cooperation with our international partners. Like Scrooge buying a turkey for Bob Cratchet on Christmas Day, we would present the world with the long-awaited, ever more needed, peace dividend.

Craig Murray

10th February, 2012

The headlines all say that the Bank of England has pumped another £50 billion into the economy in the third round of quantitive easing. In fact, the money will not get far into the economy. It is given to the banks and other financial sector companies, and evidence from the previous £250 billion worth of quantitive easing is that almost all of it will stay there, being very handy stuff with which to fund massive salaries and bonuses.

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