The UK cannot "run out of money"

[MungoBrush]

You keep fantastically missing the point. The 2008 bailout was a Central Government policy. They said to the BoE, "print us some money", and they did...

Don't you understand even the basics Gigabit?
One of the functions of the Bank of England is to be the "Lender of last resort"
You'd better look that up and learn

[Gigabit]

I assume you're just going to avoid the question indefinitely. We are done.

[Cannydc]

You keep fantastically missing the point. The 2008 bailout was a Central Government policy. They said to the BoE, "print us some money", and they did...

Absolutely correct.

The policy, called Quantitative Easing, pumped some £435Bn into the economy. To do this the central bank buys assets, usually government bonds, with money it has "printed" - or, more accurately, created electronically.

Simple as that. And yes, they can rinse and repeat if necessary as long as inflation remains relatively low.

[MungoBrush]

You keep fantastically missing the point. The 2008 bailout was a Central Government policy. They said to the BoE, "print us some money", and they did...

Absolutely correct.

The policy, called Quantitative Easing, pumped some £435Bn into the economy. To do this the central bank buys assets, usually government bonds, with money it has "printed" - or, more accurately, created electronically.

Simple as that. And yes, they can rinse and repeat if necessary as long as inflation remains relatively low.

You forgot this important piece:

"The ultimate aim of this is to boost spending to reach our inflation target of 2%"
https://www.bankofengland.co.uk/monetar ... ive-easing

This is a lever in the BoE's kitbag for managing inflation
It's not what Gigabit thinks it is - a licence to print money for unaffordable programs.

[Cannydc]

You keep fantastically missing the point. The 2008 bailout was a Central Government policy. They said to the BoE, "print us some money", and they did...

Absolutely correct.

The policy, called Quantitative Easing, pumped some £435Bn into the economy. To do this the central bank buys assets, usually government bonds, with money it has "printed" - or, more accurately, created electronically.

Simple as that. And yes, they can rinse and repeat if necessary as long as inflation remains relatively low.

You forgot this important piece:

"The ultimate aim of this is to boost spending to reach our inflation target of 2%"
https://www.bankofengland.co.uk/monetar ... ive-easing

This is a lever in the BoE's kitbag for managing inflation
It's not what Gigabit thinks it is - a licence to print money for unaffordable programs.

The question wasn't "What does the money get spent on ?"

It was "Can the BoE print money, as and when it pleases ?"

And the answer is YES.

[MungoBrush]

You keep fantastically missing the point. The 2008 bailout was a Central Government policy. They said to the BoE, "print us some money", and they did...

Absolutely correct.

The policy, called Quantitative Easing, pumped some £435Bn into the economy. To do this the central bank buys assets, usually government bonds, with money it has "printed" - or, more accurately, created electronically.

Simple as that. And yes, they can rinse and repeat if necessary as long as inflation remains relatively low.

You forgot this important piece:

"The ultimate aim of this is to boost spending to reach our inflation target of 2%"
https://www.bankofengland.co.uk/monetar ... ive-easing

This is a lever in the BoE's kitbag for managing inflation
It's not what Gigabit thinks it is - a licence to print money for unaffordable programs.

The question wasn't "What does the money get spent on ?"

It was "Can the BoE print money, as and when it pleases ?"

And the answer is YES.

No, you are wrong.
The BoE is charged with executing the Governments monetary policy
It cannot create new money when it pleases.

[Gigabit]

Is MungoBrush capable of answering a question?

You've literally just agreed with me - I assume by accident - when you said the BoE does the Government's monetary policy. What do you think the bank bailout was?

The BoE is the Government's bank, it's pretty clear I meant the Government asks the BoE to print some money, not it in of itself. In fact it has to, the Government being its majority shareholder.

[Cannydc]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

[Gigabit]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

Think it's just DS-style trolling by purposefully missing the point. If he is a financial economist, I fear for humanity.

[Cannydc]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

Think it's just DS-style trolling by purposefully missing the point. If he is a financial economist, I fear for humanity.

He isn't.

We are safe for now.

And even safer when his financially illiterate mates get chucked out of government.

[Gigabit]

I have to say Mungo seems awfully similar to cbx1985.

[MungoBrush]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

Think it's just DS-style trolling by purposefully missing the point. If he is a financial economist, I fear for humanity.

He isn't.

We are safe for now.

And even safer when his financially illiterate mates get chucked out of government.

You mean this illiterate government?

"The government has balanced the books on day-to-day spending for the first time since 2002 as public borrowing rapidly comes under control."

https://www.thetimes.co.uk/article/aust ... -g6037lkcb

Thank god for illiteracy

[Gigabit]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

Think it's just DS-style trolling by purposefully missing the point. If he is a financial economist, I fear for humanity.

He isn't.

We are safe for now.

And even safer when his financially illiterate mates get chucked out of government.

You mean this illiterate government?

"The government has balanced the books on day-to-day spending for the first time since 2002 as public borrowing rapidly comes under control."

https://www.thetimes.co.uk/article/aust ... -g6037lkcb

Thank god for illiteracy

It's a shame they promised to do this by 2015 and failed multiple times.

It's also not the deficit they promised to reduce to zero. Our annual budget deficit isn't £0 as promised. They failed, like academics said they would.

[Cannydc]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

Think it's just DS-style trolling by purposefully missing the point. If he is a financial economist, I fear for humanity.

He isn't.

We are safe for now.

And even safer when his financially illiterate mates get chucked out of government.

You mean this illiterate government?

"The government has balanced the books on day-to-day spending for the first time since 2002 as public borrowing rapidly comes under control."

https://www.thetimes.co.uk/article/aust ... -g6037lkcb

Thank god for illiteracy

It's a shame they promised to do this by 2015 and failed multiple times.

It's also not the deficit they promised to reduce to zero. Our annual budget deficit isn't £0 as promised. They failed, like academics said they would.

Correct.

Osborne spectacularly FAILED every single target he set.

Financially illiterate doesn't even cover it.

[MungoBrush]

What ?

Of course it is directed by central government. By 'as and when it pleases' I meant, and should have written 'as and when the government pleases'.

You really are dancing on the head of a pin.

Think it's just DS-style trolling by purposefully missing the point. If he is a financial economist, I fear for humanity.

He isn't.

We are safe for now.

And even safer when his financially illiterate mates get chucked out of government.

You mean this illiterate government?

"The government has balanced the books on day-to-day spending for the first time since 2002 as public borrowing rapidly comes under control."

https://www.thetimes.co.uk/article/aust ... -g6037lkcb

Thank god for illiteracy

It's a shame they promised to do this by 2015 and failed multiple times.

So you think that the austerity cuts were's severe enough?