The UK starts printing money, er, no, "quantative easing"

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    Mar 05, 2009 10:32 PM GMT
    Zimbabwe here we come.
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    Mar 05, 2009 10:34 PM GMT
    icon_lol.gif

    They're going to give £75bn to banks though, can you believe that?

    I can think of better causes.
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    Mar 05, 2009 10:37 PM GMT
    £75bn. The mind boggles. All these clever economists who think this will solve the problem. I don't see how it will work.
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    Mar 05, 2009 10:42 PM GMT
    On behalf of all the student who receive their loans in sterling...

    They are royally screwed
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    Mar 05, 2009 10:47 PM GMT
    So does that mean the pound has been devalued by £75 billion, as this money doesn't exist does it? There is no gold to back this new money up?

    To anybody reading this who isn't from the uk, come visit us, bring money.
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    Mar 06, 2009 12:49 AM GMT
    ^ The Bank of England is worried that there's going to be deflation, so they're printing £75 bn in order to artificially create inflation.

    .... never really been tried before apparently. icon_smile.gif
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    Mar 06, 2009 1:33 AM GMT
    AMT87 saidOn behalf of all the student who receive their loans in sterling...

    They are royally screwed


    NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO


    my scholarship and loans will now amount to nothing

    icon_cry.gif
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    Mar 06, 2009 1:34 AM GMT
    dashdashdash saidSo does that mean the pound has been devalued by £75 billion, as this money doesn't exist does it? There is no gold to back this new money up?


    I think they scrapped money as a representation of gold quite a while ago (in the UK)
    Don't quote me though.
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    Mar 06, 2009 1:40 AM GMT
    Well, my hope (sorry for you Brits) that inflation will affect all and the American dollar will revive quicker. Dollars being worth more than Sterling has been a long time coming. icon_biggrin.gif
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    Mar 06, 2009 10:00 AM GMT
    I'd like to join the euro, but it's a dead issue. Not gonna happen.

    Also, I guess we can 'manage' our economy a bit better if we keep the pound.

    Is that your own bill? It's amazing.
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    Mar 06, 2009 11:00 AM GMT
    Parable said
    dashdashdash saidSo does that mean the pound has been devalued by £75 billion, as this money doesn't exist does it? There is no gold to back this new money up?


    I think they scrapped money as a representation of gold quite a while ago (in the UK)
    Don't quote me though.




    1931 if i am correct... so yes, quite some time ago
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    Mar 06, 2009 11:02 AM GMT
    Lost_And_Found saidI'd like to join the euro, but it's a dead issue. Not gonna happen.

    Also, I guess we can 'manage' our economy a bit better if we keep the pound.

    Is that your own bill? It's amazing.



    the Euro is a bad idea...
    it will fare better than the pound... and the UK WILL be forced into accepting the Euro soon enough... but then you have no control over any monetary issues.

    not since you really have, to be honest, since the creation of the Bank of England... which actually isnt a public institution... but that's besides the point. The Euro is just a further step in the wrong direction.
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    Mar 06, 2009 8:17 PM GMT
    ^ I like the euro for political reasons. I'm not sure about the economic case.

    Also, I think the euro's kinda pretty ;)

    Euros_1337_18545019_0_0_7005926_300.jpg
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    Mar 06, 2009 8:21 PM GMT
    haha, well it may be pretty.
    but i am against it for political and economic reasons.
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    Mar 07, 2009 2:23 PM GMT
    Well the dollar may well be the most important currency on the planet, but it's hard as hell for us foreigners to tell the different notes apart. icon_wink.gif

    I just kept giving everyone $20 notes for coffee...

    As for the euro? I think it could help keep european living standards high in the much talked about China-America era. A strong currency representing a large economic area is potentially a very powerful tool.