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Quantative easing?


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Could someone explain this latest smoke and mirrors operation ? :? Apparently, the Bank of England buys up "bad debt", then re-issues new money to cover the difference? :shock: So what happens to the folk that have been living irresponsibly beyond their means for the last 10 years and run up huge debts (average UK debt over ?19,000!); are they being written off - sort of, lost at a game of monopoly, oh tip the board over and start again? :roll: And if they start start "printing" more bank notes - won't that devalue the currency even more - have we got some of Mugabe's bankers here on loan?! :? As for reducing interest rates, yet again; what a reward for all those fiscally responsible folk who have worked and SAVED all their lives, only to discover their savings are being devalued to save the feckless. :twisted:

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I seem to recall last time I was in Germany a few years back; that they still put the price in Marks on price tags in shops.....


My German mate still longs for the return of his currency unlike our Euro Collaborator friends who would sell us all down the river for a bit of self recognition

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Notice that the East European entrants into the EU, having shed communism and entered the EU with their begging bowls; are now suffering from the recession, to the point where some may be declared bankrupt - so more of our money required to bail them out no doubt. :roll::twisted:

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