Tim Worstall

2 responses so far ↓

• 1 Matthew // Oct 6, 2008 at 5:18 pm

  So there’s going to be a huge institution which is prepared to lend money to every bank in the world (or say US), and borrow money from every bank in the world, and guarantees never to go bust?

• 2 Mark Wadsworth // Oct 7, 2008 at 12:18 pm

  He’s a bit behind the curve on this. The market has already provided the solution he proposes. Banks now deposit all their spare cash with BoE, and the only bank left that will lend to banks is … er … the BoE.

  We keep hearing about the billions that the BoE is lending banks, they hardly mention the billions that commercial banks are depositing with the BoE.

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