From 2009, the Bank of England started a scheme called Quantitative Easing. They electronically created £375bn of new money, to stimulate the economy. That’s nearly £6000 for every man, woman and child in the UK! But instead of giving this money to the government or even to ordinary people, the Bank of England put this £375bn straight into the financial markets. By flooding the markets with newly created money it pushed up share prices by 20%. The big idea was that people who owned shares would feel wealthier and would then go out into the economy and spend more. The money would trickle down, and eventually everyone would end up better off... Our economy is flawed and unsustainable Quantitative Easing & Fractional Reserve Banking
Posted on: Sat, 10 Jan 2015 17:31:59 +0000
Trending Topics
Recently Viewed Topics
© 2015