Editor’s Note: This week the pound fell to as low as $ 1.02 USD, after the intervention it has risen to $ 1.07. — This is historic. When I was a child, the pound was worth more than $2.50… — This news is more important than one might think, since the United Kingdom has pursued for more than 200 years the practice of issuing tremendously large long term debt, the interest rates on which would break the government if the pound falls below parity with the US Dollar. Note also, that since the Bank of London has the one of the largest gold reserves in the world, to expect the price of gold to fall, as it attempts to bolster its reserves. In fact, since the spring, when the pound began to weaken, the price of gold has also fallen. The energy crisis in Europe and the threat of war throughout the continent will keep the Euro and Pound low and sinking for the next forseeable future. That means that US dollars are a good investment.
2 thoughts on “UK: Bank of England makes extraordinary intervention to prevent collapse of Pound”
Comments are closed.
The NHS is doomed no matter how much money is thrown at it, as right now 2 out of 5 doctors and nurses (all burnt out from 2 years of Covid lockdown overwork and underpayment), are planning early retirement; NOR are there are sufficient numbers to replace them, EVEN if there are (unethical) worldwide attempts to recruit/ poach medical personnel from other countries.
Excellent Analysis, Br. Alexis. Wasn’t aware of the Currency Market and am shocked at the instability of the Pound in comparison to the Dollar. The ‘Nut Job’ Neo-Feudalist Predators are doing their ‘Due Diligence’ to bring-down the seats of FREEDOM. No doubt, the new KING is fully aware of all and is smiling.