Article

2009-01-08 Britain

British Chancellor Backtracks On Printing Money Scheme

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Posted by Anonymoose 2009-01-08 15:06|| || Front Page|| [6 views ] Top

#1 The hope would be that the banks would then lend this extra money to consumers who would in turn go out and spend it.

But they don't do that, they horde it to make their books look better. We've already been through this in the US.

Posted by bigjim-ky 2009-01-08 15:49|| 2009-01-08 15:49|| Front Page Top

#2 If the banks are sound, there's no need to give them money. Even if they have a zillion dollars in cash on their books, they won't lend it unless there's something to loend it on. and that's where the guvmint comes in.

Posted by Mike N. 2009-01-08 19:43|| 2009-01-08 19:43|| Front Page Top

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