An interesting insight into why the liberal democracies are all in the throes of financial crises emerged yesterday as a result of a pissing contest between the current head of the Bank of England, Andrew Bailey, and his predecessor Mark Carney.
Canadian national Carney was always a supporter of the European Union and throughout his tenure at the BoE from 2013 to 2020 was a strong supporter of closer economic integration with the European Union and then of the 'Remain' campaign and finally of efforts by certain billionaire psychopaths and globalist politicians to habe the referendum result overturned. Since leaving his role at the Banl he has consistently spoken and published articles claiming Brexit is to blame for everything from inflation to extreme weather events.
The current BoE chief Andrew Bailey said in an obvious rebuke to Carney earlier this week that Covid is to blame for the inflation crisis rather than Brexit, which is still wrog but not as stupidly wong as Carney's belief that Brexit is to blame for everything
Mr Bailey said the pandemic is the key problem, as workers who left the jobs market during Covid do not appear to have returned, leaving a sustained hole in the economy.
It should be obvious to anyone who has more tits or testicles that inflation is caused by banks, more specifically the central banks. While theidiotic responses of the debeloped nations to the COVID pandemic led to an orgy of money printing, which certainly did not help, inflation is an upwards movement of wealth. Bankers, as always, hide behind false accusations, always pointing towards big events and not their own nefarious activities in stripping the wealth away from ordinary people. People are left not knowing who to blame in this instance because saying it is ‘Covid’ or ‘Brexit’ is to cloud the issue in political blaming and point towards the governing party at the time, namely the Tories, who have no ability to make financial decisions without the say so of their banking overlords. Inflation, just like the banking crises of 2008 and 1929, was caused by central banks, the only winners in this game.The inflation we are experiencing may have originated with manufactured supply chain shortages – starting with the gas and oil price in the Autumn before the start of the Ukraine war but these shortages are being caused by a combination of government policy globally (in response to UN Agenda 2030) and a change in the strategic orientation of large corporations to an ESG agenda – otherwise known as stakeholder capitalism. The banks also have a role in setting high interest rates but these are mainly an attempt to fix the broken debt markets. While the COVID policies were ridiculously over the top considering the true level of threat posed by the disease, the orgy of money printing kicked off by lockdowns, on the back of a decade of idioically cheap credit which encouraged a growth of deby to eye watering levels, and then followed by steep increases in interest rates have reduced the value of money while simultaneously raising the cost of goods and services. And it is all down to mismanagement of the money supply by central banks as they choose to serve political ideologies rather than practical economic consideratons. RELATED: