Bank of England Pivots First, Fed to Follow – Ep 844
The Peter Schiff Show Podcast
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The Bank of England's New QE Infinity
The British pound started a free fall. It went to a new all time record low and traded below a dollar four. Yield on 30 year British gilts was up to about 5%. Pension funds were getting margin calls on all the money they had borrowed. And so instead of fighting inflation, which yesterday was public enemy number one, it had to be brought down at any cost. The Bank of England folded. They decided to launch a new QE program. Now they have now committed to another QE infinity in order to prop up the bond market.
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