Carney vs. the British Pound
June 1, 2013 Leave a comment
UK citizens are running out of time before Mark Carney takes over their central bank.
Carney got the Bank of England job because he was a friend of bank bailouts and has shown no reluctance when it comes to printing money.
Mike Amey, head of sterling bonds at PIMCO, believe that’s what Carney plans to do when he takes over the BoE. He predicts Carney will devalue the pound by as much as 15%. That’s because Britain is desperate, and central bankers don’t really have any solutions other than “MOAR PRINTING.”
I’m so glad Carney’s going to be gone, not that I expect Stephen Poloz to be any better. But we should feel bad for the citizens of the UK. The pound has already lost significant value in recent years.
— Read more at The Telegraph —