You're browsing: Home » The Bank of England hits the panic button



The Bank of England hits the panic button

Print This Post Print This Post | Topic: Other — September 20th, 2007

Bank of England 20sep07
The Governor of the Bank of England lost his nerve yesterday and flooded the capital markets by providing a further £10 billion of emergency money.

Merv King 20sep 07

Mervyn King who a few short weeks ago appeared to have found his backbone by standing steadfast and not coming to aid of the ‘free’ market, panicked.

The Bank of England will accept “mortgage collateral” following the US Federal Reserve and the European Central Bank in an attempt to soften the blow highlighted by the troubles up there in Newcastle with the Northern Rock.

The printers roll and more paper money is created thus fanning the flames of inflation and sending more investors into the arms of that historically safe haven GOLD, which is trading at $733.70 as we write.

Have a good one!


Gold Prices Newsletter:



Related Articles
Northern Rock: Let it fail!
UK Interest Rates Rise Yet Again
GOLD hits $750!
Gold and the US Dollar
Gold: Turbo Driven Spikes!

  

No Comments »

No comments yet.

Leave a comment

  

Search Gold-Prices.biz
 
Big Gold
Gold Price Banner: [Most Recent Quotes from www.kitco.com]
 Gold Updates by Mail
 Sponsored Information

 
 Latest News On:
 Our RSS Feed
 
 Price of Gold
 Categories
 Latest Articles
 New Comments
Buy Gold Today
 

About Us | Disclaimer
© 2008 gold-prices.biz