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The Bank of England just increased and expanded their bailout. This comes despite the fact that this emergency bailout, this QE, Unlimited QE, was supposed to be ending on October 14th, and even that was not ever supposed to happen because they were supposed to start quantitative tightening and selling assets off of their balance sheet.
But before they ever got around to selling, there was a blow up about to happen with pension funds because the pension funds there had increased their leverage and used derivatives to increase their returns because there wasn’t enough money coming in to pay what was going out.
And on top of that, the country’s tax cuts without spending cuts and now the implosion of corporate debt. It looks like the Bank of England may not be able to end this QE on October 14th like they said they would, especially considering they just expanded their QE to other debt.
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Timecodes
0:00 Video Overview
0:55 Intro
1:03 Sponsor: iTrustCapital
3:11 Bank of England Schemes to Stabilize Markets
6:21 John Laws Central Bank
8:09 Bank of England tells Pensions Funds to Rebalance
10:14 Outro
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The Bank of England has announced an extension to its coronavirus crisis response package. This includes an expansion of the government’s overdraft facility, in an effort to bolster the economy. The extension comes just weeks after the bank cut interest rates to record lows.
The new measures are expected to assist businesses and consumers as the coronavirus pandemic continues to affect the UK economy. The government has pledged to spend billions of pounds to help the country recover from the crisis, and the Bank of England’s latest plans are designed to support this effort.
The bank has expanded the government’s overdraft facility from £350bn to £560bn, which will help finance the government’s growing debt. This move comes as the government is expected to spend an additional £44.3bn in the next fiscal year, in a bid to alleviate the economic impact of the pandemic.
The bank’s decision to expand the overdraft facility was welcomed by the government, with Chancellor of the Exchequer Rishi Sunak saying: “This additional funding will help ensure that we can keep supporting businesses and households through the difficult days ahead.”
The Bank of England’s latest measures follow a series of actions taken in recent weeks to help stabilize the UK economy. The central bank has cut interest rates to a record low of 0.1%, and has also launched a £200bn scheme to boost lending.
Despite these measures, some economists have warned that the UK economy is still likely to suffer a significant downturn due to the pandemic. They argue that the measures being taken by the government and the Bank of England will only mitigate the effects, rather than solve underlying problems.
However, the Bank of England remains optimistic, and governor Andrew Bailey has said that the bank is “committed to doing everything we can to support households and businesses through this difficult time”.
Overall, the extension to the government’s overdraft facility is a significant move by the Bank of England, and signals its commitment to supporting the UK economy through the coronavirus pandemic. While the economic impact of the crisis is likely to be severe, the bank’s latest measures will go some way towards mitigating the effects and laying the groundwork for future growth.
CRIMES AGAINST HUMANITY TRIBUNALS 2022 AND FORWARD JUSTICE WILL BE SERVED !
Must-read Classic: "Popular Delusions and the Madness of Crowds."
Feeding the YouTube algorithm. Great video.
Danke!
This guy needs to touch me asap
We are having a huge bail out for rich and powerful in America. Same in EU. Wicked People hang out together and feel comfortable. Holy Alliance of corrupt wicked people. Members all over the world and free lifetime membership.
Does the Bank of England produce an audited Balance Sheet ? What does/would it look like.?
This is the second time our market has gone up after the BOE pumped money in to save their pensions. It’s like they keep doubling down. One more good smack down could break them?
Considering what UK has done in past they deserve to suffer to the worst hope their trouble doesn't finish
Whether it's Gold or Paper, it's both banking: Usury. And THAT is the problem. Gold Standards were ALL run by Central Banks in the past, and they led to permanent deflation. Paper for inflation, Gold for deflation, that's how the Banksters roll.
Usury is strictly forbidden. Produce something useful for your brethren, that's the ONLY source of wealth, and the ONLY legitimate form of income.
Most interesting, quite appreciated the analogies
"Money measures wealth, money isn't wealth"…well said.
Sir, you should be a high-school or University teacher. Very well explained. Much obliged.
If it was a choice between me losing my pension or central bank going brrrrrrr. I'd choose the money printing.
Thanks for the understandable tutorial.
Nice 3 minute ad
A fiscal policy of taxing bubbles and spending into recessions is the most sane approach to economic intervention.
[scratches neck]
"Got any of the QE?"
Raise rates. Keep printing. Like I said, banana republic economics.
HYPERINFLATION
brilliant well explained
I say they extend. What do you guys think?
I figured they would push it off so that it can get bigger.
We live in a clown world. Thanks for this video, fantastic as always.
There's no dragons in Whackamole Joe.
With all due respect are we not overdue a collapse and reset in broad strokes this lingering caused by QE means the middle and lower classes if such things still exist get poorer living on borrowed time Bad governance seems to be main issue not reckless consumerism
"Today's problems are a result of yesterday's solutions." — Thomas Sowell
Keynesians, Leftists, and Communists are unable and unwilling to solve the problems that they create.
Imagine a world where middle class Romanians are bargain hunting ocean front property in england
I highly recommend the book "Millionaire" about the life of John Law. That man led a life like an adventure novel. You wouldn't believe it if it wasn't real. A genius from humble beginnings in Britain grows up to be a tall handsome charming ladies man who makes his living as a professional gambler and bedding aristocratic women. He gets accused of murder by a rival and is forced to flee to France were he manages to smooth talk his way into King's court as the most trusted financial adviser for the French government. He literally invents modern finance and nearly destroys the French economy in the process. There is so much more craziness that you have to keep reminding yourself that this is true story and not fiction.
Always appreciate your analysis of this issue! Great work!
1000% Right!! However, since we have lots of central banks and too many trillionaires with too much money too lose. They just keep the big lie going! It's why "Real" wealth at the masses level keeps going down and the "corporate" shop owners keep having to leand more credit to the peasants to buy their goods to keep their profits increasing.
Up to date financial danger ahead for the world, well explained as always. Thank You.
If you are the one earning all the money, never give your wife a credit card. That's basically where we are with our relationshipwith the government. We made a fortune, and they took it all and spent it all on shoes.
The word DEBT means SIN and that is the ORIGINAL SIN. To take on DEBT you have to become a PERSON ( PERSONA) which is basically a CORPORATE ENTITY it is not alive. To become a PERSON you use Government documents such as the Birth Certificate to create an identity so you can do business in statute Law.A living man or woman cannot CONTRACT with Government only a PERSON can once you understand their are 2 Jurisdictions then you can free yourself.