Eurozone Break-Up Would Trigger £1 Trillion of QE, See Banks Nationalised And Deep Recession, Warns Fathom!

• Wealth cannot be created by printing money, by creating fiat money out of thin air. If QE can solve our economic problems I will be the first to push for it. Heck, why not just create, out of thin air, $1million for each man, woman, child and their pet dog! Abolish all taxes, if the government needs money just QE to infinity! It is economic heresy which these people are proposing. What do you think will happen once UK starts to implement £1 trillion of QE? The UK pound will be toast! All fiat currencies are a CONfidence Job! The sheeple will realize it sooner or later. When they realize it, it will be too late. Their hard-earned money will be stolen by the Illuminist politician/bankster snakes via hyperinflation! Got physical gold yet?
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  Eurozone break-up would trigger £1 trillion of QE, see banks nationalised and deep recession, warns Fathom! 
  By  Philip Aldrick, http://www.telegraph.co.uk/ 
  A Eurozone break-up would plunge the UK into an even deeper recession than the last one, force the Government to nationalise the banks, and trigger a £1 trillion bout of money printing, leading economic consultancy Fathom has   warned.
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  According to Fathom Consulting, the economy would shrink by 5.2pc in 2013 if the euro collapsed – a projection that former Bank of England deputy governor Sir John Gieve, speaking at Fathom’s quarterly Monetary Policy Forum, described as “modest”. In 2009, the worst year of the recent recession, the economy shrank by just 4pc.
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  The warning came as Moody’s, the ratings agency, lowered its UK growth forecast to just 0.4pc this year and 1.8pc in 2013, in the wake of the shock 0.7pc contraction in GDP in the second three months of the year. The Organisation for Economic Co-operation and Development separately said the economy would shrink this year as a whole.
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  Christophe Andre, acting head of the organisation’s UK desk, said: “The eurozone crisis is going to weigh on the UK in the coming months. Under these circumstances you cannot expect much more than very slow growth. GDP will probably fall in 2012.”
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  Despite the forecast cut, Moody’s did not change its “negative outlook” on Britain’s AAA rating. However, it warned of “rising challenges in achieving debt reduction within the timeframe laid out by the Government” and said the growth outlook “underscored” the UK’s problems. Last week, Standard & Poor’s reconfirmed Britain’s top-notch rating.
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  Fathom said it expects the economy to shrink by 0.3pc this year and bounce back to 1.4pc growth in 2013, but to slow down again as Britain’s “debt overhang” weighed on the recovery.
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