Bank of Englands 'Quantative Easing' Shafts Britons Pension Plans

In a mere 24 hours the size of the pension deficits facing some of Britain’s biggest companies has jumped by around £100 billion to a record £390 billion - the equivalent of over £150,000 for every member of a final salary scheme.

The increase is a direct result of the Bank’s announcement this week to create £150 billion and pour it directly into the financial system, experts said.

The ballooning deficits sharply increase the chance that a swathe of companies shut down their pension schemes - not only for future employees but for those already paying into them.

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Bernake's Money Printing Helicopters Are Here

'Newly printed dollars are being used to replace the capital losses of America's corporations. If it were possible to replace wealth simply by printing money, humanity would have eliminated poverty shortly after discovering the printing press. Instead, it always results in the same fate - destruction of the currency through the process of hyperinflation. The following chart using data from the Federal Reserve of St. Louis visually reveals just how extreme the latest measures from the US Federal Reserve have impacted the monetary base.'

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