Now Britain Prints More Money!

last SG · 2009-03-06T16:10:31+00:00

When I try to be subtle, people dont get it and say I am random. When I am explicit, people get angry with me. DAMN!!!

AndrewPKYap SG

The Bank of England announced yesterday that it would begin “printing money” on a massive scale in an unprecedented effort to kickstart growth.

The Bank said that it would pump £75 billion into the economy as it halved interest rates to 0.5 per cent in a last-ditch effort to combat the slump. It added that there was no limit to how far it could go down this untried route of quantitative easing.

Mervyn King, the Governor, said that it was very unlikely that interest rates could go any lower. With rates close to zero, the bank has been forced to resort to a drastic new strategy to try to breathe life into the economy.

After Alistair Darling gave permission for up to £150 billion of new money to be created – equivalent to 10 per cent of the entire economy – the Monetary Policy Committee swiftly approved detailed plans to inject an immediate £75 billion to boost the amount of cash and credit flowing in the economy.

AndrewPKYap SG

It is so unbelievable it is laughable. The countries that have been borrowing money to buy oil from the middle east and goods from the coolies economies of the east; when it is payback time, just prints more money.

John Wong SG

haha... IDEA

AndrewPKYap SG

Just like Singaporeans can do nothing about the despots taking as much of their money as possible and gamble with it; the world just watch in amazement at the antics of the US and Britain.

AndrewPKYap SG

Now we know what Gordon Brown talked to Obama face to face.

"Financial Crisis Dominates Obama-Brown Talks

President Obama met with British Prime Minister Gordon Brown in Washington on Tuesday to discuss an economic partnership to mend the ailing global economy. ..."

Gordon Brown: Hey you keep printing money, it is not fair leh...

Obama: You do it also lah!

Gordon Brown: People dump the Sterling Pound how?

Obama: Don't worry, as long as we keep the USD/GBP rate stable, what can the arabs and our coolies in the east do?

Emoticons

AndrewPKYap SG

Notice this warning in the article?

" It added that there was no limit to how far it could go down this untried route of quantitative easing."

...meaning... no limit to printing more money!

AndrewPKYap SG

minus 2 to minus 5%

Changed to minus 8%

Changed to minus 10%

Why dont they just say it?

Minus 50% in the next 10 years!!!!

Unless we see some structural changes... but despots will always be greedy and protect the interests of self, party, cronies, relatives and dogs.... Singapore be damned.

AndrewPKYap SG

So how did it come to this?

http://www.newsintercom.org/?p=615

Worldlybusinessman SG

the value of singpore dollar dropping further with this sh^t?

AndrewPKYap SG

With this new development,

NOW IS THE TIME TO GO INTO FULL PANIC MODE

Hope you have been taking my advice to HOARD your money, but maybe just maybe money will soon become useless.....

*sigh*

I know exactly what to do but I pity the majority of Singaporeans with their apathetic attitude.

AndrewPKYap SG

I know what to do for myself but, God, now I am in such a panic mode for Singapore, even I am praying that the damned cursed despots get some enligtenment as to what they should do....

stupidissmart SG

If britian just print money without increase in output, then it is indeed very bad. The value of the pound is gonna drop heavily.

AndrewPKYap SG

If britian just print money without increase in output, then it is indeed very bad. The value of the pound is gonna drop heavily.

President Obama met with British Prime Minister Gordon Brown in Washington on Tuesday to discuss an economic partnership... *edited to add - I doubt it is really* to mend the ailing global economy.

The pound should... but if it is pegged to the US$ with the blessings of Obama... it is end of the world as we know it (not end of the world... just "as we know it")

AndrewPKYap SG

What the despots here can do is to print massive amounts of money but keep the Singapore dollars exchange rates up.

The countries that do it first and fastest, win the WAR.

The US had a huge headstart... now Britian is following behind...

Singapore must do it NOW before it is too late!!!!

After that we see the end of globalization.... but it is going to happen anyway so might as well be among the firsts to do it while all the others are still sleeping...

AndrewPKYap SG

What I am afraid of course is that the dishonorable despots print the money and instead of distributing it to Singaporeans, distribute it among themselves... then Singaporeans die!!!

Because of the free press, Britain and the USA can never do that. They have to distribute what they print to their citizens....

xtreyier SG

I am glad you panic now.

Thanks to people like you who stupidly hoard money, this is what happens. Govts have to print notes to circulate for every dollar your kind hoards up at home or safe deposits and stupidly in banks whom use to balance their lost accounts and not lend.

Enjoy the panic. You had been warned hell long before. It's already too late to weep.

PS: The UK govt is not just simply 'printing' money. They are creating money by buying govt and corporate bonds from financial institutions for new 'notes of sterling pounds'.

Simply meant, loaning from future generations who will repay the debts through taxes and resource output.

AndrewPKYap SG

I am glad you panic now.

Enjoy the panic. You had been warned hell long before. It's already too late to weep.

PS: The UK govt is not just simply 'printing' money. They are creating money by buying govt and corporate bonds from financial institutions for new 'notes of sterling pounds'.

Simply meant, loaning from future generations who will repay the debts through taxes and resource output.

I panicked because the UK is printing money, which could lead to other countries following suit and depending on the scale, might just cause world trade to come to a halt. If the other countries do not follow suit, then they become disadvantaged.

What the fark has Singaporeans Hoarding money and Britain printing money got to do with each other?

Your stupidity is astounding!

AndrewPKYap SG

What should people do when

NOW IS THE TIME TO GO INTO FULL PANIC MODE

They should HOARD even more of course!!!! Except that you might not want to keep all the money you hoard in cash....

If you dont have much... well it is not going to make too much diff. Otherwise have a good talk with a financial advisor... no, a few financial advisors ... and ask them what you should do if inflation, or worse, stagflation (more likely) goes sky high.

Shotgun SG

I am glad you panic now.

Enjoy the panic. You had been warned hell long before. It's already too late to weep.

PS: The UK govt is not just simply 'printing' money. They are creating money by buying govt and corporate bonds from financial institutions for new 'notes of sterling pounds'.

Simply meant, loaning from future generations who will repay the debts through taxes and resource output.

Point being the money wasn't there in the first place. Thus the new money takes value from the old money. Now people who have "hoarded" money then now sees their hoarded value drop and starts releasing theirs thus causing inflation.

Perhaps this is to literally threaten financial institutions and banks to start lending money or else the government will just devalue the money that they are hoarding.

skythewood SG

hoard money ==> no money in market ==> print more money ==> value of money drop ===> can buy less stuff

If never hoard money ==> buy normal amount of stuff.