Ex-Central Bank Boss Admits Post-Covid Inflation Was Caused By Money Printing

Ex-Central Bank Boss Admits Post-Covid Inflation Was Caused By Money Printing

In a rare moment of truth aired on the BBC, former governor of the Bank of England—the world’s first central bank—Mervyn King, admits that the soaring inflation and living costs experienced worldwide post-Covid, were a predictable result of money printing by central banks.

“During Covid, when the economy was actually contracting because of lockdown, central banks decided it was a good time to print a lot of money. That was a mistake. That led to inflation. We had too much money chasing too few goods, and the result was inflation. That was predictable. It was predicted and it happened.”

In these uncertain economic times, allowing the entirety of your wealth and savings to waste away in the bank is just asking for trouble. Not only is it losing purchasing power by the day, as inflation and living costs continue to skyrocket, but in the event of economic catastrophe—which at this point seems more a matter of ‘when’ than of ‘if’—you run the risk of losing everything.

On top of that, with the arrival of programmable CBDCs, you could lose access to your wealth entirely should your government decide they don’t like your political views, or something you posted on social media. Maybe you didn’t get all the injections they told you to get? What if they impose expiry dates on your hard-earned life savings?

While cryptocurrencies certainly have some advantages, they would be rendered completely useless if the internet or power grid were to go down. Worse yet, what if governments decide to ban them outright?

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Written by colinnew

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