Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.
Comment by Adamantine:
George Soros, Warren Buffet, Robert Shapiro of the IMF and now Sir Mervyn King of the Bank of England have all said the same thing in the last week.
Global depression,global bank freeze and worst financial crisis in history are their terms. Is this true or an exaggeration ? This scenario would fit the pattern of several prophecy fiction books, interesting.