Britain's richest gain most from Quantitive Easing.

So the richest 5% Britain's will gain the most from Quantitative Easing, where the poorest will suffer again, through inflation and lack of assets. So even in a double dip recession the Rich continue to improve their lot.

The richest 10% of households in Britain have seen the value of their assets increase by up to £322,000 as a result of the Bank of England's attempts to use electronic money creation to lift the economy out of its deepest post-war slump.

Threadneedle Street said that wealthy families had been the biggest beneficiaries of its £375bn quantitative-easing (QE) programme, under which it has been buying government gilts for cash since early 2009.

The Bank of England calculated that the value of shares and bonds had risen by 26% – or £600bn – as a result of the policy, equivalent to £10,000 for each household in the UK. It added, however, that 40% of the gains went to the richest 5% of households.

www.guardian.co.uk...
www.independent.co.uk...

No surprise.Just think if they actually gave that ten grand to each household instead,the economy would be booming.I bet half of the householders have never had ten grand at once to spend as they choose.

reply to post by woodwardjnr

Yea its all a sham, if more average people had government bonds it would probably work a little better. But all that happens is these rich people sell their bonds and reinvest, and from what I read, they tend to reinvest their money in other countries if they can get a bigger return on it. So the money doesn't stay in the country and really does nothing for the economy.

reply to post by glen200376


With the money that was used to bail out the 'too big to fail banks' in the 1st place, every household could have recieved circa 30 -40 K. If the stipulation had been to clear your household debt and only spend anything left in the UK, preferably with a UK based manufacturing company or one paying UK tax, we would have been out of the brown stuff and be well on the way to no poverty in the UK.

We might not have had the same banks we still have but hey ho, survival of the fittest. Take RBS they couldn't let that fail though, after all they own Coutts, the Queens bank. Cant have that being hived off to a non UK bank