Socio-Economics History Blog

Socio-Economics & History Commentary

“None Of It Was True”: 103 Years Later, The FT Admits It Lied And Colluded With The Bank of England

  • “None Of It Was True”: 103 Years Later, The FT Admits It Lied And Colluded With The Bank of England
    by Tyler Durden, http://www.zerohedge.com
    When one strips away the lies about central banks’ “inflation and employment” mandates and focuses on what they really do – which is to keep asset prices artificially supported and volatility suppressed – the motive behind virtually every central bank act becomes readily apparent: preserve (and increase, if possible) confidence in the market and economy, while saying anything and everything that helps achieve this, or in other words, lie but don’t get caught.

    Today, thanks to the FT, we have proof of precisely this, in what may be the first recorded instance of a central bank openly lying in an attempt to preserve market stability… and getting caught.

    On Tuesday, the Bank of England admitted that the UK government failed to find enough investors to fully cover its its 1914 War Loan, and was forced to turn to the central bank to help plug a deficit of more than £100m in the fundraising. However, it did so only after it lied to the public that the bond was oversubscribed:

    read more.

end

August 11, 2017 - Posted by | Economics, GeoPolitics, History | , , , , , , ,

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