Brown plans to print more money amid fears rate cuts won’t work

Joe Murphy
Daily Mail
Wednesday, January 7, 2009

The Government may resort to printing extra money if interest rates keep falling. 

It is being considered as a desperate measure if base rates fall so far that they cease to work as an economic lever. 

Base rates are set to plunge tomorrow to the lowest level since the Bank of England was founded in 1694, with another big cut of at least half a point to 1.5 per cent or even lower. 

Chancellor Alistair Darling and Bank of England governor Mervyn King are considering whether to embark on a new policy of expanding the money supply, or quantitative easing, sources today told the Evening Standard.

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‘We are looking at the issues,’ a senior Treasury source told London’s Evening Standard. ‘No decisions have been taken.’

It would mean a historic retreat from the economic housekeeping rules that have held sway since Margaret Thatcher wrested control of the money supply in the Eighties in her crusade to drive out inflation.

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5 Responses to “Brown plans to print more money amid fears rate cuts won’t work”

1. John B. in FL Says:
   January 7th, 2009 at 4:59 pm

   I’m setting up my color printer at home to start printing my own bills. If the fed can do it why can’t we?

2. G. Lauren Says:
   January 7th, 2009 at 10:37 pm

   If interest rates fall below zero would we will have to pay to use money? Think about it.

   As to printing money at home, why bother? It will be cheaper to get them from the government.

3. Frank Thoughts Says:
   January 8th, 2009 at 6:29 am

   Remember: Gordon Brown is a crap hound of the highest order. The more chaos, turmoil, death, disaster, misery, the happier the guy gets. He loves this shit: your misery is his joy and power. Try and wipe the smirk off his face by being self-reliant and ignore his plans.

4. katie Says:
   January 8th, 2009 at 7:18 am

   all the countries worked in unison manipulation their currencies during the depression. I think all of this is to usher in one electronic currency for total control.

5. Rob in CT Says:
   January 8th, 2009 at 7:21 am

   Hey could I have some of that money? I never see any of it!