Not yet but the hint is in today’s article.
Members of the Financial Policy Committee confirmed that the BoE will double the counter-cyclical capital buffer rate to 2% of risk weighted assets in July next year, and said it could vary the rate in either direction depending on how the global economy pans out.https://www.reuters.com/markets/europe/bank-england-tells-lenders-brace-economic-storm-2022-07-05/
I’m only paraphrasing an american investor here but he thinks this CB tightening is intended to soften us up before they loosen monetary policy again (they have no exit strategy – this is a one way street only) to give us a break before the 2024 US election, after which they will loosen further to negative interest rates.
That way they will “own” your deposits through charging you for custody. Hand in hand with removing cash and introducing digital ID‘s, they will (they think) subjugate populations to save the planet (like they do in China) through controlling access to services like transport.
The good news is that we humans are a tricky bunch and when they realise that most of us will opt out of this system it will come crashing down. It might take a few years though…
It may be a bit like living through the 70’s again but with better technology 😁.
The 70’s weren’t too bad; in fact people looked a lot fitter than they do now!
It all seems very plausible to me and I’m actually looking forward to the challenge, but then I am better prepared (mentally, physically and financially) than most.