Money-printer Osborne says only failures print money

As it’s the weekend, I’ll keep this short.

Hopefully readers all know that the Coalition has been ‘printing money’. If this had happened a couple of decades ago, the Government would have actually had to print a few hundred bilion �5, �10 and �20 notes. Now, using ‘quantitative easing’, the Government can create this money electronically and then use it to lend to itself (by buying Government bonds) in order to keep its own borrowing costs low.

Our great chancellor, Baronet George Osborne, is behind this policy as it lets him double our national debt from �700bn to �1.4trn between 2010 and 2015 without anybody really noticing this is happening.

But George Osborne�- a man without the same amount of economic understanding as his predecessor, Scottish sociopath Gordon Brown – has not always been such a great fan of money-printing. In fact in 2009, just before the last election, this puffed-up old Etonian buffoon pontificated, “The very fact the Treasury is speculating about printing money shows Gordon Brown has led Britain to the brink of bankruptcy.”

He then went on to say, “Printing money is the last resort of desperate governments when all other policies have failed.”

Well George, thanks for telling us that your government is a ‘desperate government’ and that ‘all other policies have failed’.

On this occasion I believe that what George Osborne told us in 2009 was absolutely correct. Osborne seems to have accurately predicted and described his own failure. Whoops!

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