The Bank of England just stepped into the bond market to prevent a collapse.
Breaking news: The Bank of England has taken emergency action to stem a crisis in government bond markets, suspending its programme to sell gilts and instead buy long-dated bonds https://t.co/DNU3KUTkuG pic.twitter.com/KgruWZriK3
— Financial Times (@FinancialTimes) September 28, 2022
There were apparently going to be mass defaults of pensions and other problems if they didn’t step in.
The real reason for the Bank of England intervention into their bond market.
They were trying to avoid a Lehman moment 🚨 pic.twitter.com/A0g0y9sTzK
— Wall Street Silver (@WallStreetSilv) September 29, 2022
This move is only going to further erode the value of the British currency.
They are basically continuing to print money while increasing rates. So they are giving the public the illusion that they are doing something to fight inflation while continuing to create inflation.
The currency continues to plunge. It is now close to parity with the US Dollar.
Pressure on Bank of England to hike interest rate after pound plunges to ALL-TIME low https://t.co/Z6cIPSMolL
— Daily Mail Online (@MailOnline) September 26, 2022
A short time ago, you could exchange roughly around two British Pounds for one US Dollar. So the currency has lost a tremendous amount of value in a fairly short period of time.
Meanwhile the British government is telling the public that they have to do a war with Russia in the name of gay Jewish Ukrainian trannies.
The entire system is collapsing and nobody is really even explaining how bad the situation is.
