The emails that reveal how King and Osborne fixed the gilts market – Telegraph Blogs
I here reprint a damning exchange of e-mails between the Governor of the Bank of England and the British Chancellor which recently fell into my hands.
Osborne to King: "Hey Merv, I'm up to my neck in debt right how, and I really need a bit assistance to get me out of this trade. Can you fix it for me to monetise the deficit and get the friggin interest rate on UK gilts down to a level I can live with? We need a really low fix. Would really appreciate your help. Cheers you old geezer you, George."
King to Osborne: "Dude I thought you would never ask. Easy peasy. It's called quantitative easing. I just print money and buy up the entire gilts market and everyone's happy. But don't talk about it too much. I'll give some bulltulip explanation…this is between you and me. Really, Don't tell anyone what we are really up to."
Osborne to King: "Your annoying colleague again…This is going to cause a real tulip storm if it gets out. But I need a bit more of that QE stuff you did last time. They bought it last time. Would love another low three monther if poss. Cheers."
King to Osborne: "Done for you big boy".
Osborne to King: "Dude, I owe you big time! Come over one day after work and I'm opening a bottle of Bollinger".
King to Osborne: "What about my knighthood?"
I here reprint a damning exchange of e-mails between the Governor of the Bank of England and the British Chancellor which recently fell into my hands.
Osborne to King: "Hey Merv, I'm up to my neck in debt right how, and I really need a bit assistance to get me out of this trade. Can you fix it for me to monetise the deficit and get the friggin interest rate on UK gilts down to a level I can live with? We need a really low fix. Would really appreciate your help. Cheers you old geezer you, George."
King to Osborne: "Dude I thought you would never ask. Easy peasy. It's called quantitative easing. I just print money and buy up the entire gilts market and everyone's happy. But don't talk about it too much. I'll give some bulltulip explanation…this is between you and me. Really, Don't tell anyone what we are really up to."
Osborne to King: "Your annoying colleague again…This is going to cause a real tulip storm if it gets out. But I need a bit more of that QE stuff you did last time. They bought it last time. Would love another low three monther if poss. Cheers."
King to Osborne: "Done for you big boy".
Osborne to King: "Dude, I owe you big time! Come over one day after work and I'm opening a bottle of Bollinger".
King to Osborne: "What about my knighthood?"
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