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Bank of England base rate held at 0.75%

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    Bank of England base rate held at 0.75%

    Full story here:

    Bank of England cuts UK growth forecast - BBC News

    #2
    Keeping our kindling dry I see.

    Comment


      #3
      Morons at Bank of England should have increased rates to 5% by now - then they'd have some firepower left.

      Comment


        #4
        Originally posted by AtW View Post
        Morons at Bank of England should have increased rates to 5% by now - then they'd have some firepower left.
        There'd be £2 to the $ but the government would have defaulted. My kind of Britain.

        Comment


          #5
          Originally posted by TwoWolves View Post
          There'd be £2 to the $ but the government would have defaulted. My kind of Britain.
          Why would the Govt default on debt issued in their own local currency? They can always print it.

          Comment


            #6
            Originally posted by AtW View Post
            Why would the Govt default on debt issued in their own local currency? They can always print it.
            In the limit printing money won't save a government from defaulting and I'm pretty much sure that at 2£ for a dollar we would be veryyyyy close to that limit!
            "The boy who cried Sheep"

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              #7
              Originally posted by AtW View Post
              Why would the Govt default on debt issued in their own local currency? They can always print it.
              Indeed. Worked out so well for Zimbabwe

              Ps. They print notes, not currency. And that promise to pay gets thinner by the day.
              "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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                #8
                Originally posted by CryingSheep View Post
                In the limit printing money won't save a government from defaulting and I'm pretty much sure that at 2£ for a dollar we would be veryyyyy close to that limit!
                In 10 years 1 USD will be £ 20 (English Sterling with Boris face on it )

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