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More BBC financial nonsense…

November 28th, 2011 | Posted by admin in Uncategorized

Reporting on the £275bn programme of UK government debt purchases the BofE are engaging, yet again the BBC completely mislead…

“It is designed to put more cash into the UK financial system, to reduce long-term borrowing costs, and to push up the value of assets such as shares and house prices.”

Inflation does not increase values. It increases prices. Anyone reading that sentence who doesn’t understand money (and that’s most people unfortunately) would assume that it is unequivocally good – why not do more? Why not buy all our debt so our houses are worth billions and trillions – then we can all be rich? Pathetic. The BBC are getting more and more ridiculous in gatekeeping for the cartel of bankers and their political minions.

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