Tuesday, 28 August 2012 09:53
'The richest 10% of households in Britain have seen the value of their assets increase by up to £322,000 as a result of the Bank of England's attempts to use electronic money creation to lift the economy out of its deepest post-war slump.
Threadneedle Street said that wealthy families had been the biggest beneficiaries of its £375bn quantitative-easing (QE) programme, under which it has been buying government gilts for cash since early 2009.
The Bank of England calculated that the value of shares and bonds had risen by 26% - or £600bn - as a result of the policy, equivalent to £10,000 for each household in the UK. It added, however, that 40% of the gains went to the richest 5% of households.'
Tuesday, 28 August 2012 09:40
Instead brainless goons protect Paulson from answering questions on how he coldly sank the American economy and put millions out of work and on the street while this major player in America's economic demise was driven off in a limo.
A genuine Peoples' Revolution is long overdue? You bet.
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