Social Gold Mine
It was a busy day today what with the Autumn Statement here in the UK and monetary policy meetings for both the Bank of England and the European Central Bank.
First up we bring you the results of the BOE meeting, which were not surprising. Unsurprisingly.
BoE keeps rates low as Osborne raises forecasts | http://t.co/PceWGr7H58
— Bloomberg News (@BloombergNews) December 5, 2013
Of course, the decision by the MPC was released whilst Osborne was busy presenting his Autumn statement. Below, Fraser Nelson presents an excellent set of graphs that highlight the key points from the statement.
— Fraser Nelson (@FraserNelson) December 5, 2013
Then of course it was to the ECB and Draghi’s press conference that we next turned our attentions to. If any surprises were going to come today, it was going to be from Draghi, but he disappointed us. And fed everyone yet more bad news.
Draghi Paints Gloomy Picture but Signals No New Moves http://t.co/GMfZBlrRbd
— Real Time Economics (@WSJecon) December 5, 2013
The big news today amongst sound money and digital currency advocates is the announcement from the Chinese government that financial institutions are not allowed to accept bitcoin. But individuals can. Interestingly, this news sent the price of bitcoin down. We wonder why…after all we don’t want the banking system involved in it, look what happened last time they were dealing in sound money.
Bitcoin Tumbles After China Central Bank Bans Financial Companies From Using Digital Currency http://t.co/iKg4mcRlgo
— zerohedge (@zerohedge) December 5, 2013
And finally, be sure not to miss a Keiser Report LIVE Google Hangout tomorrow at 4pm GMT. Featuring yours truly and Save Our Savers’ Simon Rose. Find out more by clicking on the link below.
— Stacy Herbert (@stacyherbert) December 5, 2013