Happy Third Birthday Quantative Easing

tim_wand

Three years after the release of (printing of) £325 billion of extra currency by the Bank of England to bolster the economy after the disasters befallen it by the Banks.

It would appear that those who have benefited the greatest from these measures are those in the Top 5% of wealth and asset holdings across the country.

I don't claim to understand the ins and outs of all this so in the Bank of England's own words:

By pushing up a range of asset prices, asset purchases have boosted the value of households’ financial wealth held outside pension funds, but holdings are heavily skewed with the top 5% of households holding 40% of these asset.

So yet again the rich get richer as the poor grow poorer. But hey were all in it together, are n't we?

Kerguelen

tim wand wrote:

Three years after the release of (printing of) £325 billion of extra currency by the Bank of England to bolster the economy after the disasters befallen it by the Banks.

It would appear that those who have benefited the greatest from these measures are those in the Top 5% of wealth and asset holdings across the country.

I don't claim to understand the ins and outs of all this so in the Bank of England's own words:

By pushing up a range of asset prices, asset purchases have boosted the value of households’ financial wealth held outside pension funds, but holdings are heavily skewed with the top 5% of households holding 40% of these asset.

So yet again the rich get richer as the poor grow poorer. But hey were all in it together, aren't we?

Is this the scheme where the govt. takes our money and gives it to the banks, as long as the banks promise to lend it back to us and charge us interest on it, or the one where the govy. magically increase the money supply by adding zeroes to certain banks accounts?