Blog 2023 Malcolm Blair-Robinson

The Governor

It is becoming clear the the Governor of the Bank of England is somewhat under siege from a Government out of its depth and bankers who are cocking a snook to the rest of us and getting back to their dangerous ways. His speech was not only wise and to the point. It was very courageous. Some of it was in code. Read very carefully what he said and weigh every word. Should we worry? Yes we should. In particular we should look at the actual solvency of the casino banking industry with its giant daily trades. They end each day with hard liabilities in real money protected by soft assets which can become worthless in seconds. This is why the financial structure remains unstable.

This entry was posted on Friday, October 23rd, 2009 at 11:20 am and is filed under Malcolm Blair Robinson. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.