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Printing more money

The UK Government is about to abolish a 164 year-old law that obliges the Bank of England to inform the Government (and thereby, the people of England) how much money it is printing.

This means that the B of E will be able to print money without constraint, a road that Germany went down just before WW2, and more recently, Mugabe has used to prop up his regime. In both cases, the economy was ruined.

Is the UK about to join pre-war Germany and Zimbabwe – it certainly looks like it.

What is laughable is that  Gordon Brown puts forward a Bill to hide the printing of money and simultaneously calls for greater transparency amongst the banks.


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