What is Mervyn King up to?
In October last year he had inflation running at 10.7% but he has now brought it down to just a 5.1% growth figure.
We have seen the same thing with his friend Ben, in the US, with a slight tightening of the acceleration. Yes, they are still printing more and more money every day, but not quite at the same rate that they once were.
Perhaps these banksters really do fear hyperinflation, as we predicted a while back. Or maybe it's the collapse in the Pound's value, which is beginning to frighten Mervyn?
These crooks don't mind stealing the wealth out of your pocket via an 'orderly' diminution of monetary value. They just don't like losing control of it in wild crashes. (Sort of like hydrogen fusion power. It's great when you can access it in power stations, but less good when it takes out Bikini Atoll.)
My guess, however, is that as soon as we see the necessary malinvestment pains that this 'less-expansive-than-usual' policy brings, then the printing presses will be pushed into overdrive again, rather than merely being run in third gear.
Just like Roger said.
It's certainly an interesting game to be playing, for Mervyn, within a couple of months of a British general election. He has to keep Brown happy (inflate to prevent immediate economic collapse), in case this Stalinist monster wins. But then, he has to keep Cameron happy (stop inflating, to cause an immediate economic collapse), in case this feeble slacker wins. Perhaps he is coasting between the two sets of happiness. He judges that this slow-down in printing won't cause any more mass layoffs in time for the election, but will not be so much as to get Cameron accusing him of trying to buy the election for Brown, with counterfeit confetti.
What a twisted convoluted world these central planners must live in. So many masters, and you never know how they're going to react to anything?
Born to empire, and yet ruling over Slough and the dinner tables of North London.