Thursday, 27 October 2011

Central banks are attempting to stop the money supply falling...

I have been telling everyone that would listen that the problem we have been facing for the past few years is a falling money supply. The so called "credit crunch" is in fact, a "money crunch". Frustratingly, over the past four years I have not heard a single person in the mainstream media concur with this fact... until now. On the 25th October, the Governor of the Bank of England, Mervyn King said

"What we were doing was injecting money into the economy and what the banking system has been doing is destroying money".
"What we were doing was to partially offset what would otherwise been an even bigger contraction."

No comments:

Post a Comment