Vocal Voices

As consumer sales come in stronger than expected since June, Jobs are on the rise (although claimant counts are also higher than expected) and the £ is rising with analysts now predicting a climb back into the €1.3 area by mid next year.

No Ed Balls is talking more control over the BOE to ensure they are not making "political" moves without control from the politicians.

The only reason that £ is not climbing against the $ is that the $ itself is surging. Just keeping pace means that the $ is climbing against all the other world currencies.

Still the crowd who want us to believe that anything but the EU is bad are willing to try and bid us down over and over again. I'm reminded of Soros and the Euro though. No matter how the government tried to stop him he always had more leverage (and money to spare), than they did. So he won.

Here's the other fun thing. Soros is one of the crowd telling us we should not leave. But it was Soros and his determination to keep us out of the Euro that has made Brexit feasible...

I'm very sure the BOE is not going to enjoy the ride for the next year. Serves them right.

I saw that Ed Balls was a co-signatory of a paper to Harvard University regarding Central Banks, not just the BoE.

They are also supported by Andrew Sentance, who used to be on the BoE's Monetary Policy Committee.

I am really not sure what to say. Should they be independent or only partly or totally controlled? Is there another way?

What is pretty clear is that they cannot control individuals like Soros. Some of these individuals have more 'money' than nation states and can, to some extent, control all sorts of markets.

The global economy needs a re-think and a re-set is how I see things. How is for the 'brains' to work out.

Workingman wrote:The global economy needs a re-think and a re-set is how I see things. How is for the 'brains' to work out.

That I agree with.

What I think is that the central bank of a country is one of the most powerful instruments in that country. Powerful instruments are, essentially, political instruments and therefore, in a democracy, should come under some form of political control.

We've tried the other way. What was the result? Financial Crisis in the first round and Osborne and Carney on Breixt in the second round. I wonder what they'll do for a third round if not controlled to some degree???

My take is they abused the privilege and now need to lose some of it.