balois

Will Gordon Brown's New Bailout Save U.K. Banks?

I ve sent the following to a newspaper today:

quote
Messrs. Brown, King & Co are desperately trying to encourage lending and spending with a debased currency. Encourage an alcoholic to drink more bad booze? The problem has less to do with banks not lending but more with the United Kingdom s lack of competitive industries, saleable goods and services to world markets when at the same time North Sea oil reserves are dwindling. For my part my portfolio is clear of Pound Sterling. Only good thing is the floating exchange rate – otherwise all would be in place for an Encore by Mr. Soros.
unquote

Have a good day