Demonstration outside Bank of England
Today while the Monetary Policy Committee sat around eating biscuits and deciding to issue a further £75 billion of quantitative easing, we took the opportunity to illustrate the impact that their decisions over the past 3 years have had on the UK’s Savers.
So in front of numerous press photographers and several film crews we hit Bertie the paper-mache piggy bank with a big hammer. He crumbled under the blow.
Savers are being made to pay for the debt crisis. In an interview for Channel four later in the day Mervyn King said “ I have enormous sympathy for savers and pensioners, suffering from the consequences of a crisis they did not create”. Not that he is prepared to do anything about it.
And as long as UK savers remain quiescent those who manage our economy will always find it more palatable to devalue savings than to make borrowers pay the true price of borrowing too much. That is why savers must continue to protest and make their voices heard.
We would like to say a big thank you to all the savers who turned up and for all the messages of support we received from those that couldn’t make it.
Dear Mervyn – the real letter
Bank of England rolls the printing presses again
State pension delays for women
Savings Accounts: Past, present and future
Mervyn King misleads on household debt
The dangers of prolonged low interest rates
Why we need sound money and a restoration of savings
Are low interest rates the answer – or the problem?
Well done today everyone who turned up at the demonstration and a big thank you to you all. If there was a even remote possibility that I could have I really would have turned up myself. It was a great start by you all to get savers noticed.
Thank you.
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Mervyn King, Mervyn King, riding through the glen – steals from the poor, gives to the rich – silly bi***, sillly bi***
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With news now that the BOE may print up to 500 billion pounds and Citi predicting they will buy up all outstanding gilts I would say now is the time to do something positive with your sterling savings folks. I’m doing so with the remainder of mine right now. Good luck everyone!
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Well done with the demo, it made the news and raises the profile. Bit far for me to come from W. Yorkshire.
It would be good to repeat next time. But with Bertie having bitten the dust who or what should take his place? A bit of street theatre with “Mervyn” picking peoples’ pockets?
As for QE, last time it just seemed to feed through to assets such as equities and property prices (sorry to bang on about it but one of the government’s overriding aims seem to be to protect inflated property prices.) We’ll see what happens this time.
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Hi if you really want to see what is going on here then please spend 15 minutes of your time and go to
http://www.youtube.com/user/theamericandreamfilm
If you want to see more please go to see part 2:
http://www.youtube.com/user/theamericandreamfilm#p/u/1/kx7HDTDDopA
Also
Google Zeitgeist the movie.
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Why not have a demo every month when the BoE meet to decide interest rates? Inflation now at 5.2%, it’s getting worse. Support for savers will surely grow.
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