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World in grip of worst ever financial crisis, Bank of England governor fears

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posted on Oct, 6 2011 @ 03:01 PM
You know things are going to start getting realy bad when a pillar of the British establishment starts using language like this

Sir Mervyn King expressed fears that Britain is in the grip of the world's worst ever financial crisis after the Bank of England announced it was injecting £75bn into the ailing economy. The Bank's governor said the UK was suffering from a 1930s-style shortage of money and needed a second dose of quantitative easing to boost demand and prevent inflation falling too low.
Its very rare for someone in his position to give such an honest opinion, and it justifies what many here on ATS have been saying for a long time now.

Full Article
edit on 6-10-2011 by Atzil321 because: (no reason given)

posted on Oct, 6 2011 @ 03:06 PM
He is just now figuring this out?
What rock has been hiding under? He probably also believed dear leader's hope and change speech. Right now we can only hope for enough change to feed our kids one more day, and hope that wal-mart doesn't change their overnight parking rules. We can hope other cities don't change their minds and start ripping down obamavilles like Tampa Florida did. I really hope for a change in the laxity of the sheeple in my country. You know what they say? Hope in one hand and poop in the other...see which one fills up first.

posted on Oct, 6 2011 @ 03:07 PM
reply to post by Atzil321

LOL now THATS a good idea... look at whats happening to America after our legislators injected money into OUR economy.

posted on Oct, 6 2011 @ 03:21 PM
Seems none of these captains want to go down with the titanic

posted on Oct, 6 2011 @ 05:14 PM
This is the farthest thing from an honest opinion, seeing as the BoE is basically the head of the Hydra that has CREATED the whole situation. And NONE of this is happening by accident. Further "quantitative easing" (normally known as inventing more money out of thin air) will only serve to make it worse.

The stooges of the world still believe these people every time they say, "Oops, my bad. We didn't know THIS would happen..."

Kind of like "I am from the government. I'm here to help you."

posted on Oct, 6 2011 @ 05:18 PM

This is the farthest thing from an honest opinion, seeing as the BoE is basically the head of the Hydra that has CREATED the whole situation.
reply to post by CaptChaos

I'm not really understanding how central banks work and whether the BofE is a central bank, could you clear that up and explain how the BofE created the whole situation.

posted on Oct, 6 2011 @ 05:19 PM
Here it is as reported by The Telegraph in the UK:

Worl d facing worst financial crisis in history, Bank of England Governor says

This is undoubtedly the biggest financial crisis the world has ever faced and it has continued now for four years.

I do not know when it will come to an end.
What I do know is that in order for it come to an end we have to find a way for imbalances to unwind, for the debts to be repaid and for the countries that need to repay debt to other countries to be able to export their way out of difficulty.

edit on 6-10-2011 by surrealist because: Added citation

posted on Oct, 6 2011 @ 05:19 PM
Damn man whats the point of taxes if the government can just print itself money if there isn't enough....

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