Bank of England makes the case for taxpayer bailouts of central banks: It’s mandatory

Source: Cobden Centre
by Bob Lyddon

“The Bank of England’s working paper attempts to obfuscate the truth and distance itself from it: central banks – with the Bank itself in the vanguard – have made colossal mistakes and now their policies have blown up in their (or rather the taxpayer’s) face. The working paper is the intellectual capital with which the world’s central banks will press their finance ministries for new monetary capital. The money will have to be found, and from the taxpayer – the contrary of the promise made after the Global Financial Crisis.” ()5/09/24)