Submitted by Alasdair Macleod via GoldMoney.com, Make no mistake, sterling’s collapse is a very serious development, and has serious consequences for sterling interest rates. While it is becoming apparent that interest rates are going to have to rise possibly for all currencies on a one-year view, sterling’s problems are the consequence of bad judgement, and perhaps intellectual arrogance on the part of the Bank of England’s Monetary Policy Committee. The MPC in turn is not and cannot be independent from the influence of Mark Carney, the Bank’s Governor, who made…
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