I don’t pretend to understand this stuff (hence the total lack of a seven-figure bonus this year) but I do know that the Bank of England cannot simply ‘print money’. It’s all done electronically these days.
I’m imagining Sir Mervyn King sitting in front of a leather-bound keyboard, surrounded by advisors, and taking immense care to tap out the right number of zeros for 75000000000 pounds. Maybe he’d also have to enter a PIN, conscientiously obscuring it as his advisors take a momentary interest in the chandelier.
This done, they’d all head to the pub for a well-deserved pint. No-one would would be surprised if Merv doesn’t offer to get the first round in.
