Wonder when the stamps with Charles III will be issued. There’ll be a few envelopes with them on them landing on the Graham Brady’s doormat soon, to go with those that have already been sent.
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Whatever way you look at it its worrying.
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OGF - I don’t think they are ever doing it deliberately just all incompetent?
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An investment fund manager friend just posted that the reason for the interest hikes is to safeguard pension funds. So pension fund companies are going broke because of trusseconomics…
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Just watching Peston, and they were discussing this very point. Really not looking very good at all.
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I saw this earlier but wasn’t sure what it meant so I thought I must have missed something - now I know:
The Bank of England stepped in to calm markets after some types of pension funds were at risk of collapse.
It pledged to buy £65bn government bonds after Friday’s mini-budget sparked turmoil on financial markets and the pound plunged.
Investors had demanded a much higher return for investing in government bonds, causing some to halve in value.
Pension funds, which invest in bonds, were forced to start selling, sparking fears of a fresh market downturn.
The Bank said its decision to buy government bonds at an “urgent pace” was driven by concern over “a material risk to UK financial stability.”
The government borrows money to fund its spending plans by selling bonds, or “gilts”, to investors such as pension funds and big banks on international markets.
But a collapse in the price of those bonds was forcing some pension funds to sell gilts and assets, further forcing down the price.
If that process had continued, there was a risk that those pension funds could have got to a position where they couldn’t pay their debts.
To stop this from happening the Bank said it would buy around £65bn of gilts on Wednesday.
Editorial Comment:
The Bank will now, for a temporary period, buy up government bonds in unlimited quantities. But it was not a decision made by the Bank’s Monetary Policy Committee, who were informed of the decision after it was made by the Bank’s financial experts.
It comes at exactly the same time as that committee had been committed to do the exact reverse policy - selling government debt. That process was due to start next week and has now been delayed.
It is a massive intervention, and while it will not solve the government’s problems, it might buy them some time.
But it could confuse markets about the clarity of policy making and lines of accountability.
So, the left hand doesn’t know what the right hand is doing … what a shambles … 
any tory party member who voted for this madness should have their personal assets confiscated
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I’ve got a tiny ISA which I set up a few years ago and haven’t done much with. It’s interesting to have a look at it every so often. Had a nosey earlier, and it’s dropped from circa 18% profit a few weeks ago to 2.3%. Pretty much every company invested in has dropped in value. The market is not a happy place, so no wonder pensions are in big trouble.
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Hi
People often complain about Public Servants not doing their job and not following the rule of Parliament.
The Bank of England was given far more powers after the 2008 Financial Crash and they have just used them to stop another crash, this time of Pension Funds.
The decision was made by men in suits immediately it was necessary and was a big call which could cost some or all of them their jobs.
We now have a Government which is hell bent on deregulation and no criticism or action by the experts who are paid to protect us.
A Government who lifted the cap on Bankers Bonuses which was designed to stop such things happening.
A few bankers made hundreds of millions this week by betting against the £ and putting millions of pensions at risk.
This is just stupid, the people who did this are stupid and treat us with such contempt that they do not even apologize.
Our politicians are out of control and this applies to politicians of all Parties., Corbyn and Abbott as well as Truss and Rees Mogg.
A lot of the problem lies with us,the Voters, for electing idiots rather than reasonable competent people to run the country.
We have to find a way of stopping this happening.
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It looks like our inflation rate is similar to EU countries. Australia recorded an annual inflation rate of 6.8 per cent in August, down from 7 per cent in July, according to brand new data from the Bureau of Statistics.
The ABS has decided to publish inflation data every month, rather than every quarter.
It is not just Britain that is suffering from high inflation.
Waiting to see the list please - which countries do you do you say are the same as the UK?
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Excellent news indeed. A few pennies or grains of rice may end up trickling down for us to scramble around with a deep sense of gratitude. Oh happy breed of men…
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Lets hope they had the foresight to put those billions into a more stable currency than sterling. I woke up today worrying about whether to split savings into several accounts in case the banks default and fall over
Its the PM who puts the idiots in the ministries, who voted for Truss as PM ? you (a general you) thought Boris was bad .
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I’m opting out of this one strathmore because it’s well out of my area of expertise (that’s if I actually have an area of expertise) and I know bugger all about big finance and commerce, and I think most of the posters on this thread are the same. In any event, I don’t think the government will be contacting the forum for advice any time soon. Although some think they can do a better job.
@OldGreyFox ,“don’t think government will be asking?”
Don’t you believe it Ogey!
Who do you think AZZ sells his info too ?? 
Sorry to rub salt into the wound but if you are going to comment it will help everyone if you are also able to back up that comment. Otherwise you are just spouting empty words. It is singularly, solely and specifically the UK that is experiencing this financial crisis. Of its own making. That is 100% clear.
False posts such yours (which you then admit to being without foundation) are at best distracting and at worse spreading lies. And spreading lies, as you yourself have noted, is the job of our politicians.
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The cause of the UK’s crisis is Mrs reverse Robinhood & her
cohorts.
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I didn’t realise we had a new moderator on the forum…
I post my interpretation of the news in the same way that you do. sometimes I back it up with quotes and observations from various sources which you may or may not consider sufficient. I don’t care what you think strathmore, and I shall continue to post the things I believe in, whether I can produce evidence or not. They are my opinions and observations and will continue…
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Yougov polls put Labour 33 points ahead, that would wipe the tories out,