Panicked Brits Demand Further Unleashing of a Weimar-Style Wall of Money

June 26, 2010 (LPAC)—The British Empire is calling for the financial equivalent of having British Petroleum drill a well right into the Federal Reserve or Fort Knox deposits: "Let's just blow the whole thing out and get the liquidity gushing," is a fair representation of their so-called policy.

As the heads of state of the G-20 gathered in Toronto, Canada, the London Daily Telegraph's Ambrose Evans-Pritchard reported that Fed chairman Ben Bernanke is desperately trying to figure out how to pump more liquidity into the system. He is "quietly mulling a fresh burst of asset purchases, if necessary by pushing the Fed's balance sheet from $2.4 trillion to uncharted levels of $5 trillion." Evans-Pritchard quotes analyst Chris Whalen to drive the point home: "The only default option left is to crank up the printing presses again."

Meanwhile, the new "Basel III" banking regulations that will be presented at the G-20 meeting, will not propose major new capital reserves for banks as originally envisioned, as that would cut their average profit margins from 20% to 5%. "That contentious proposal, fiercely opposed by the banks," the Financial Times reported, "could be replaced by an alternative system of oversight."

So, Weimar hyperinflation it is.