The Bank of England Goes Into Hyperinflationary Mode.

#boe #weimar #hyperinflation #sterling #hmtreasury #gilts #centralbanks #markets #moneyprinting #gold

Today is, in my opinion, a historic day as the Bank of England announced it will provide HM Treasury directly with printed money so it does not have to borrow it in the Gilt or money markets.

We are being told it will be a temporary measure and the that the Treasury will pay back the money by the end of the year but I would not bet the house on this happening as until last weekend the Bank of England governor, Andrew Bailey, said this kind of financing was out of the question.

My conclusion is that the Bank of England and the U.K. government are embarking on a very dangerous exercise that has historically always ended in hyperinflationary disasters as it did during the Weimar Republic in the 1920s and more recently in Zimbabwe and Venezuela.

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