Dear Merv,

Sterling fell on your chattering about printing money (aka “quantitative easing”) today. No matter the complexity of the situation or good intentions don’t you realise that this is a punishment to savers who keep their money on deposit That it is a poverty-creating measure for vulnerable people on fixed incomes? That you are helping the most reckless – be they wannabe BTL billionaires or purchasers of HBOS debt?

Being one of the 364 economists who rallied against Thatcher and was proven wrong please forgive me for being nervous about your monetary policy decision making. You may need reminding about a very basic lesson. Please watch the following video replacing the “Fed” with “BoE”, Bush with Brown and Helicopter Ben for, erm, you.

Regards,

A not-so-loyal citizen of Great Britain.

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