Operation Bernhard

[AtW]

"Operation Bernhard was the codename of a secret Nazi plan devised during the Second World War by the RSHA and the SS to destabilise the British economy by flooding the country with forged Bank of England £5, £10, £20, and £50 notes. It is the largest counterfeiting operation in history and has been fictionalised in books, the BBC comedy-drama miniseries Private Schulz and a 2007 Oscar-winning Austrian film, The Counterfeiters (Die Fälscher)."

"the printing press had produced 8,965,080 banknotes with a total value of £134,610,810."

Source: Operation Bernhard - Wikipedia, the free encyclopedia

Amateurs, Sir Merv will show 'em next year how to print money

[sasguru]

"Operation Bernhard was the codename of a secret Nazi plan devised during the Second World War by the RSHA and the SS to destabilise the British economy by flooding the country with forged Bank of England £5, £10, £20, and £50 notes. It is the largest counterfeiting operation in history and has been fictionalised in books, the BBC comedy-drama miniseries Private Schulz and a 2007 Oscar-winning Austrian film, The Counterfeiters (Die Fälscher)."

"the printing press had produced 8,965,080 banknotes with a total value of £134,610,810."

Source: Operation Bernhard - Wikipedia, the free encyclopedia

Amateurs, Sir Merv will show 'em next year how to print money

You're such a cretin you don't understand the difference between printing money and electronic bond purchases.
The question is when, not if, are you going to run your company into the ground?

On an aside, Sir Merv is considerably better looking than you.

[DodgyAgent]

You're such a cretin you don't understand the difference between printing money and electronic bond purchases.
The question is when, not if, are you going to run your company into the ground?

On an aside, Sir Merv's arse is considerably better looking than you.

FTFY

[Freamon]

You're such a cretin you don't understand the difference between printing money and electronic bond purchases.

Just for the rest of the board, could you explain the difference?

[chef]

[AtW]

You're such a cretin you don't understand the difference between printing money and electronic bond purchases.

Here is how this money printing works:

1. Govt prints electronic paper called gilts and hopes to sell it for "money" to fund projects it never had sustainable revenue to pay for. It never had plan to repay its debts hoping to roll them over.

2. Nobody wants to buy it at low interest rates the Govt wants to sell it for.

3. BoE prints its own electronic paper called money - actual cash can be printed as and when necessary but it's less of a problem these days thanks to electronic transfers.

4. BoE exchanges this "money" for "gilts", soon it will be like 40% holder of UK debt - that's why UK does not see 6-7% on gilts (of course this is later paid by inflation by everybody in the country).

5. Govt spends this money on all sort of projects - this is when cash reaches the economy:

6. Sir Merv writes another letter explaining why inflation is still above mandated threshold.

7. Sir Merv becomes Dame Grand Cross of the Most Excellent Order of the British Empire - Dame because he ain't got a pair of balls to stand up to the Govt, both current and previous.

The End.