‘We May Need To Print Even MORE Money’, Bank of England Economist Warns Just Days After £75billion Cashflow is Sanctioned !

• The idea that you can generate economic growth and wealth via creating money out of thin air is nonsense! If it is true, then, central banksters should go the whole hog and print millions for every man, woman, child and their dog! All it does is to stir inflation and destroy savings. The United Kingdom is toast! The British pound is a worthless currency!
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  ‘We may need to print even MORE money’, Bank of England economist warns just days after £75billion cashflow is sanctioned
  By Simon Duke, http://www.dailymail.co.uk/
  – Warning from leading expert Dr Martin Weale
  -‘2.5m now jobless’ in worst figures for 17 years
  – Economy is predicted to shrink early next year
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  One of the Bank of England’s leading economists has warned it may need to print even more money to bolster the sickly economy. In a sign of growing fears over a double-dip recession, Dr Martin Weale signalled that it will step up its money-printing scheme if growth does not pick up soon.
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  The warning came before the Bank has even begun distributing the extra £75billion it set aside for its quantitative easing (QE) programme just days ago. Today two new reports on Britain’s economic prospects make grim reading for ministers – predicting that growth could go into reverse next year  as confidence levels in plunged to two-year lows.
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  In addition, Dr Weale’s comments came as the country braces itself for the worst labour market figures since the depths of the recession of the early 1990s. Economists predict official data released on Wednesday will show unemployment rose by 90,000 to 2.54million in the three months to August, pushing the jobless rate up to eight per cent.  That is the worst figure for 17 years.
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  But Dr Weale, a member of the rate-setting Monetary Policy Committee, yesterday admitted there was ‘quite a lot of scope’ for QE to be expanded. That is despite the view of some experts who believe another injection of new money will spell bad news for savers as it could drive down long-term interest rates and boost inflation. Annuity rates on new pensions are already falling and the cost of living is likely to rise yet again – putting even more pressure on household bills.
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  … for the full article click here!

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