More funny money. Why don't we all just start printing our own money.
Bank will write to Darling to begin 'printing money'
Bank of England rate-setting committee agrees unanimously to begin 'quantitative easing' and votes 8-1 for half point rate cut
From Times Online
February 18, 2009
Grainne Gilmore, Economics Correspondent
The Bank of England is set to begin "printing money" in a bid to boost the economy after its rate-setting committee unanimously agreed that its Governor must write to the Chancellor.
The minutes of the Bank's rate-setting meeting earlier this month showed that as well as voting 8-1 to cut rates to 1 per cent, the nine-strong Monetary Policy Committee (MPC) agreed that the Mervyn King, the Bank's Governor, should write to Alistair Darling to seek permission to embark on "quantitative easing" — sometimes called printing money.
The minutes said: "It is unlikely that the inflation target could be met solely by cutting Bank Rate."
Article Continues: http://business.timesonline.co.uk/to...cle5757895.ece