Bank of England to Start "Printing Money" (GLD)

According to reports from the Times of London, the Bank of England is set to start "printing money" to avoid the deflationary slump, its "most forceful action to date" according to the report.

The Bank's Monetary Policy Committee is expected to act on Thursday to begin the so-called 'quantitative easing', as soon as it is given a final green light from Alistair Darling.

With the expected approval, the Monetary Policy Committee will inject billions into the economy by buying company and government bonds, their IOUs, from banks.

Link to Times of London Article

The move in England, along with the ongoing quantitative easing in the U.S., is why Gold (NYSE: GLD) is a must for any portfolio, if for nothing else as a hedge. It's easy to print money when nothing is backing it, and now with it becoming common practice around the world - look out. Inflation may not come tomorrow, or the next day, but it's coming.

This is why David Einhorn and other smart investors have been getting long the yellow-stuff.

For an alternative view on Gold go here

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