A couple of days ago the British pound reached the lowest point in history.
Yesterday the Bank of England intervened in its bond market to keep it from collapsing and threatening the solvency of its pension funds. At one point on Wednesday, one insider confided “there are no buyers of UK government bonds”. But as usual, finance capitalists have no long-term plan. Intervening in the bond market will never be enough to curb inflation.
Read in WSWS
