Thursday, May 15, 2008


I must admit I was mildly bemused when I heard that the Governor of the Bank of England, Mervyn King (that picture might be slightly out of date), was declaring that 'the nice decade is over'. Did I miss something? What was nice about it? It seemed pretty nasty to me. Maybe he meant all the money and pretend money swishing around, the crazy mortgage deals and loans - but no such thing. Mervyn is un homme serieux, and here's the explanation. That's one worrying graph too... Oddly, the same acronym applies to that strange body that decides whether the NHS should be allowed to dole out new drugs. Niceness is everywhere. How nice.

1 comment:

  1. An earlier President of the Bank of England, Josiah Charles Stamp, had these rare words of truth to say about the banking system: “The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented. Banking was conceived in inequity and born in sin... But if you want to continue to be slaves of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit.”

    Anyone who looks into the extraordinary deception of the Federal Reserve- it's private, not federal, & isn't built on reserves-cannot but agree with Stamp.