The Bank Of England’s New Logo
The new bank of England Logo is very telling. She has less money, less food, less focus, less power and more importantly less options.
The BOE ( Bank of England) has one job
- Monetary stability - which is price stability or inflation
In their own words
In order to maintain price stability, the Bank of England and their monetary policy committee (MPC) have set an inflation target of 2%.
They have failed!
Currently CPI Stands at 9% and RPI ( the only index I follow) stands at 13.1%
Source:RPI: Percentage change over 12 months - All Services - Office for National Statistics (ons.gov.uk)
They have failed because they have been focused on other things, dabbling in the dark arts of MMT ( Modern Monetary Theory) and shifting a focus from protecting the economy to imposing their political will on the world.
The only certainty has been increased waste and a guaranteed decline in wealth for all Citizens aka levelling us all down.
Recently the current governor of the Bank of England, Andrew Bailey, recently said that crypto investors will lose all their money. Highlighting the old trope that crypto has no intrinsic value … compared with say fiat currency which has intrinsic value?
At least with crypto as a miner or a staker you have a direct link to the income of a coins network like with Causevest Coin XCV you get a share of the networks fee income like the shareholders of the central bank do!
I don’t like people who moan without any solutions of their own so lets propose a few.
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A pause on money printing and QE to service government debt,
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An increase the oversight and powers of the National Audit office
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Promote and push long rate mortgages from banks to protect more landlords and hence their tenants from the impact of rising rates.
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Proper hedging against interest rate rises which you control!
Rishi Sunak 'lost the UK £11BILLION by failing to insure huge debt stocks' | Daily Mail Online -
Finally most of all massive deregulation one of the major driver into the crypto space in the first place is just the huge barriers to entry to set up in the traditional financial services sector.