BOE Staff Pension fund - inflation protected bonds ...
Surely this sends out a clear message that the future intentions of the BOE are to inflate the countries way out of debt by printing more worthless money & watering down ones existing wealth
Moreover, this may well have been the intention all along - so why does no-one in the Government come clean about the matter and admit that they are protecting an insolvent financial system rather than letting market forces take over
A lot of those (large & small - Greece to negative equity homeowners) may realistically never be able to repay their debts but again everyone refuses to acknowledge the situation - so everyone else has to suffer the pain and a prolonged period of uncertainty because those in debt are being constantly underwitten
One presumes that 'lower or cost or valuation' does not apply in these circumstances - or perhaps it does and by refusing to crystallise known debts those holding the debt are guilty of fraud?
Could one get away with this in the private sector - running a knowingly insolvent company? If it is unacceptable in the private sector why are Governemnts allowed to perperate a lie with no sanctions?