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  • Bailey: The importance of central bank reserves by Andrew Bailey

    From bankofengland.co.uk

    It is a great pleasure to be here at this event, hosted by the LSE’s Financial Markets Group in honour of Charles Goodhart. This evening, I am going to talk about central bank balance sheets and in particular the Bank of England’s balance sheet. An esoteric topic perhaps, but an important one, now more than ever. And it is a topic on which Charles has written extensively. Charles worked at the Bank for nearly two decades, of course, before his distinguished career as a professor here at the London School of Economics. His article “The importance of money”, published in the Bank’s Quarterly Bulletin in 1970 ... (full story)

Added at 1:02pm

Added at 1:05pm

Of course, a private company that has been granted a Royal Charter to carry out its independent legal business “for ever". Is talking up the benefits of increased reserves from the practice of usuary while the UK government and the UK economy take on more debt.

The real solution is in stark contrast to these red herons offered out for dinner at the LSE. With fanatic economists who care not about reality. Only the side their bread is buttered.

How about the BoE becomes a public state entity, acting in the best interests of the UK government and its citizens. Putting an end to private banks creating interest baring money supply, taking this practice back to state ownership, creating money supply that is free of interest and debt free.

By this change in function, and by the time the US recession passes, the UK will have dramatically increased GDP.
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