IMF tells UK to consider rate cut to boost growth

[STEED]

Here's some wise words.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
3rd president of US (1743 - 1826)

[Skybird]

Cutting interests always means a redistribution from the people to the state, since it eats up private savings and saving plans.

That's why the all-time low in intersts for Germany is not a nice thing for germany, but is a signal of dangerous crisis. The crisis it indicates just breaks out with delay.

[Jimbuna]

Originally Posted by Skybird

Cutting interests always means a redistribution from the people to the state, since it eats up private savings and saving plans.

Precisely the point I was attempting to make

[mookiemookie]

Originally Posted by STEED

Here's some wise words.

Jefferson couldn't have said that, as the word "deflation" was not used as in the sense of an economic concept in his day.

http://www.snopes.com/quotes/jefferson/banks.asp