| Topic: | Re:Re:Re:Re:Re:Is Inflation the inevitable result of the Devaluation of the Gordon Brown Pound ? | |
| Posted by: | Fraser Pearce | |
| Date/Time: | 10/11/09 12:58:00 |
| “...the judgement of history will be how close Brown and Darling, given virtually no notice and flying by the seat of their pants, got to the minimum cost, and how well they shape their policies so that the price is paid more by those who most benefitted from the bubble in the first place.” - They had plenty of notice. There was work on this at least 18 months beforehand at the EU, which was alluded to on postings here. There were warnings at a G7 finance minister meeting, the Bank of England, IMF and BIS. The CFTC warned the Fed and US government of the dangers in the late 1990s – which itself resonated with the BIS and major central banks. In short, the British government had plenty of warning. It’s inconceivable Brown and Darling were unaware of such warnings, especially given Brown was there in person at the G7 meeting (perhaps he went for a crap during that presentation?). As such, Brown and Darling shouldn’t have been “flying by the seat of their pants”, which thanks to Darling’s cack handedness, at one point put the UK hours away from bankruptcy. ------- Brown hasn’t “been a long-standing opponent of joining the Euro”. He’s been opposed to joining at a time that isn’t beneficial to the UK’s interests. This is common sense. Unfortunately people sharing such caution have been derided here and elsewhere as ‘Europhobes’. ------- As for “the judgment of history”, I can’t help thinking it’ll be more along the lines of why so many intelligent people suspended their critical faculties and refused to see the emperor had no clothes. |