20 August 2016
Brexit
When the Bank of England forecast doom and gloom should the people of the United Kingdom to vote to leave the European Union, what it meant was it would create the doom and gloom by ramping up inflation and hence confiscation of earnings and savings. And that is what its members did at the first opportunity in the next meeting, as seen in the chart below.
Sterling against the US dollar June 2016 - August 2016. Data from
Yahoo Finance.
Rather than raise the base rate to support sterling, and shrink the money supply given demand for sterling had taken a hit, it decided to use the opportunity to ramp up inflation and pursue its main goal of returning Britain back to feudalism, and ensuring only a few wealthy individuals can benefit from the productivity of the nation.