That is alright with me, Barry, if you don't agree with my economics, the main thing was to get the facts right with regards to what I have stated and what not.
But today the Band of England did say they are not printing another £50 billion QE.
This means their economics on this occasion correspond with mine.
The only countries that should print more money, once they left the euro, would be the four Mediterranean ones currently in bailout status, sometimes referred to by economists as PIGS. Personally I find this abbreviation unnecessary.
For them, QE would be a forgone conclusion to repay their high interest bonds, but they'd have to leave the eurozone first.
I don't know what your view is on UK QE, would be interesting to know, however, as you referred to Labour in your above post, it was the Labour Cabinet who did the first QE in 2008 to bail out the banking crisis in Britain.
In that occasion it was necessary, but since then, the present Coalition Cabinet have also done QE printing, and I think they were getting into a bad habit of digitally circulating money in this way.
The BoE would not do any QE unless the Cabinet, in particular the PM and the Chancellor of the Exchequer, gave the go-ahead.
Of-course they have economic advisers to the Government, who evidently have come to the conclusion that the risk of habitually printing off tens of billions of new pounds to buy assets from banks would make the pound toxic, something like a toxic debt.