5 hours ago, talahtnut said:

On Wednesday last week the BoE printed £B65 to

prop up the bond market, but it hasn't worked too

well as the spread is enormouse, so in effect the

final salary pensions is still at risk. Printing money

in double digit inflation aint going to work.

What do you think?

I believe they are destroying the Fiat to make way

for CBDC.

A couple of corrections to what you wrote:

 

The BOE didn't print anything. They are going to (they haven't started yet and indeed may never do so) temporarily buy long dated gilts using their foreign currency reserves for the  purchase, when the markets have settled those gilts will be sold again. It might just be that the threat that they are prepared to do so is enough to calm markets.

 

Printing money doesn't mean that somebody fires up the printing presses and new pound notes spew forth! The term printing money is where the central bank, the BOE or the Fed., adds credit to member banks deposits thus expanding credit.  That isn't happening at present.

 

 

8 hours ago, nigelforbes said:

A couple of corrections to what you wrote:

 

The BOE didn't print anything. They are going to (they haven't started yet and indeed may never do so) temporarily buy long dated gilts using their foreign currency reserves for the  purchase, when the markets have settled those gilts will be sold again. It might just be that the threat that they are prepared to do so is enough to calm markets.

 

Printing money doesn't mean that somebody fires up the printing presses and new pound notes spew forth! The term printing money is where the central bank, the BOE or the Fed., adds credit to member banks deposits thus expanding credit.  That isn't happening at present.

 

 

Holy smoke, thanks for letting me know that they're not

going to actually print £B65 pound notes, which went out

of date ages ago, 'printing money' is just a common expression

most people understand.

They have 13 days to ease the money into the Gilt market,

but according to the spread there is not much appetite for them,

it could be just a last ditch bummer.

As I said before, printing money when there is double digit

inflation is not very clever. Good luck with that!

 

Bounced a lot

 

Told you

 

Media always wrong