Opinion

King Canute and the evils of money printing

Jenny Ruth
Fri, 10 Jun 2022

King Canute and the evils of money printing
Former Bank of England governor Mervyn King expounds on the King Canute theory of inflation. (Image: Getty)
Jenny Ruth
Fri, 10 Jun 2022
The view that printing money is a very bad idea has some heavyweight support.For example, former Bank of England (BOE) governor Mervyn King has decried money printing by central banks around the world in reaction to the covid-19 pandemic, labelling it a mistake.Governments around the world had deliberately shut down parts of their economies to try to prevent the spread of covid, King noted in an interview with Sky News last month.But the decision by central banks to start printing money, otherwise known as quantitative easing (QE) and involving...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

The Economist
The great Silicon Valley shake-out
The Economist | Sat, 02 Jul 2022

We look at the world’s startups and identify the safe, the uneasy and the doomed.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.