- Jim Costa
Jim’s Daily Rant. Early Obit For The Bank Of England.
The BOE is dying, the first of all the Central Banks of Western Civilization to do so, including the U.S. They threw themselves on the hand grenade that they themselves dropped. There is no escaping the outcome.
The BOE and the other Central Banks are condemned to follow in the footsteps of the Weimer Republic of 1923 Germany. In order to pay the world reparations for WWI damages, Germany was going broke. No other countries would buy their treasuries as there was no future for their country. So Germany printed unlimited quantities of its fiat currency until it was all worthless.
England is now in the same position and has taken the same action, and like Germany, there is no way out of this pit. England will be the first country to fall due to its Central Bank playing with a hand grenade.
This is my paraphrasing of Gold Soars 2% on England QE Panic Pivot.