Mervyn King (and Bernanke) say there is no inflation, so don’t worry.

The latest round of panic buying sweeping British consumers isn’t for fuel, as it was earlier this year when threats of a strike by the tanker drivers’ union led to long queues of cars snaking their way around filling stations. Instead, the commodity Britons are desperately snapping up in bulk this month is stamps, after Royal Mail, the British postal service provider, announced it would raise prices after April 30 to make up for falling revenues. The price rise – which will raise the cost of sending a letter first class by a huge 30 percent to 60 pence ($0.96), and the slower, second class by 39 percent to 50 pence – has sparked alarm across the country where consumers are facing slow wage growth and high inflation.

63 comments on “Mervyn King (and Bernanke) say there is no inflation, so don’t worry.
  1. Bruce says:

    I guess this means BookDepository prices are going up for international orders too, if they haven’t already. Not good.

    I want that “1 Downing St” pic with Cameron on my bedroom wall. To go with my portrait of Elizabeth II, Blair and Thatcher candids.

    “Royal Mail said it has lost 1 billion pounds over the last four years.”
    I don’t see how that can happen without someone stealing a lot of profit. Same thing with the US Postal Service, which claims they are losing money.

  2. Alf says:

    Cameron is a menace, we all need protecting…

    …This guy tells it better than anyone.

  3. karate kid says:

    this video from 1933
    what do you think they are trying to tell you?

  4. What-me-worry? says:

    Royal Mail = gubmint revenue stream/river. Occupy mailboxes!

  5. Leeroy says:

    And what moves those letters around? Gasoline.
    Peak oil waits for no one.

  6. Becky says:

    @karate kid:-

    Really too good! Adore those old movies (even though Ginger Rogers looked a pratt with that gold “coin” on her fanny).
    Am feeling serious however – don’t care about the price of the bloody Stamps. System needs a complete Overhaul – hoarding stamps is like “pissing in the wind” right now – what a joke! Reckon it must get quite bad for people to get more awareness i.e We are getting Royally Screwed!!!!!!!!

  7. I_Cant_Believe_Its_Just_a_Dip says:

    Its hard to excited about stamps but 39% price rise and ebay trading already hotting up it ‘appears’ to be a sure way of making quick money-is there a catch? The post office is being privatised and sold off to the lowest bidder. One wonders if advanced warning is a cunning plan to sell an awful lot of stamps in a short time in order to get a load of fast cash to line the upper managerial lazy fat moggie pockets, after all businesses are buying a whole yr or more at once so when they do the accounts it’ll look good for those tasty muppet stocks.
    Tip guys, if yer gonna trade go for second class, this none deceased Dipster reckons many businesses will be forced into second class for cost reasons and its a higher 39% mark up as well(post offices still unlimited as far as I know)
    ”Ian Murray has called on the regulator Ofcom to investigate ‘shameless profiteering at the public’s expense’ by Royal Mail”

    Btw when the contents of the Anglican sheep pastures start panic barrring silver and gold then it’s starting to get more interesting.

  8. Michael says:

    What’s the point of hoarding stamps when every thing you send is weighed & measured now?

  9. p'tite jaune says:

    Y’all, who p[osts anything anymore>? Why would this matter in a post-post world.
    Victorian technology…time to move on!!!

  10. Mini US says:

    In Australia we are also getting price rises under the guise of Carbon Tax implementation.
    I wonder if they will just leave it all out of CPI calculations as an extraordinary event.
    So now, the the basket of goods that measure CPI is……clothes pegs. They don’t seem to have gone up too much.

  11. mbridges says:

    Thanks for the video, nama rama – looks interesting!
    Another interesting bit of information (but non-relevant to the topic of stamps):
    “Exclusive – confirmed: American ‘UFO’ over Korea”

    One sometimes looks at “timing.” Why now?

    “…With the world economy in meltdown, a flood of “soft news” and “hard conspiracy” traveling around the world at the speed of light, threats of mass arrests of bankers, states near open rebellion against the Supreme Court, and a fear the world may be on its “last gasp” of borrowed/counterfeit money, what better time to bring out the flying saucers…”

  12. Rick says:

    Max, we live on a finite planet. As resources become depleted aka Peak Oil, prices go up. Your headlines are just hype otherwise.

  13. Happy Dick says:

    Workers make an Ipad … $14/day (in a couple years, $28/day)
    Inside Foxconn: Exclusive look at how an iPad is made

  14. Vonda Bra says:

    Latest Jim Willie article .. Thursday, 12 April 2012

    Golden Eye of Hurricane

  15. Sir Halibut says:

    a million to die in Japan… if the radiation doesn’t get you then hyperinflation will!

  16. F. Beard says:

    “Stretched Britons”

    As in the rack or when they were hanged for stealing a loaf of bread?

  17. Chris says:

    Ok, so now that postage stamps are rare, perhaps somebody can create a derivative for short term trading collateralized by postage stamps. And maybe, if enough people keep buying it, you won’t need to ever produce the stamps in question. Sounds like the next financial “innovation” from the City of London…..oh wait, this has already been tried before:

  18. I_Cant_Believe_Its_Just_a_Dip says:

    @Happy Dick, so Foxconn is one of the better employers who actually pays it’s workers on time. And yet so many suicides so it begs the question whose the worst/what do they make or are we to assume worst case scenerios all round?
    @mbridges, I’ve always thought stamps and UFO’s go very well together;)
    @Sir Halibut, Prof. Busby is fast becoming der Man-total respect to him for speaking out

  19. Marc Authier says:

    Meanwhile in United Slobs of America ?

    The indexes for food, energy, and all items less food and energy all increased in March. The gasoline index continued to rise, more than offsetting a decline in the household energy index and leading to a 0.9 percent increase in the energy index. The food index rose 0.2 percent as the index for meats, poultry, fish, and eggs increased notably.

  20. Danny Cunnington says:

    The unmentioned bit in the article is that whilst surface mail in the form of letters and postcards has gone down, there’s been a large rise in all sorts of parcel delivery that corresponds to the rise of on-line shopping. What the government has done is to toss this profitable section to private companies. The post office can’t compete with this by design. Here an example of it:

    I got my mother to send a parcel to me in Holland from the UK. This was sent using the post office. The costs were about £20.00 or €26,00. Weighing the parcel on a Dutch post office scale, I found that the cost to send it back to the UK was €13,00. Bear in mind this is exactly the same parcel to exactly the same addresses. One direction cost double.

    It just a case of crony capitalism and price gouging. Profits from parcel services are privatised and losses from surface mail are socialised. Policy makers have done this through design. It’s a self serving agenda masquerading as a public service.

  21. Citizen119 says:

    The British Post Office is the last utility not privatised. Yet.

    Thatcher, Major, Blair, Brown and Cameron have gradually taken all the
    business which was historically be transacted at Post Offices, and given it away
    to private interests. The mail alone is obviously unprofitable, so the aim
    is to close the postal system. The notion of charging a blanket charge for
    delivery anywhere in the UK is under attack. The Post Office is fading away,
    and will soon cease to exist, and the country will be poorer for it.

  22. Tamir says:

    Israeli Insanity/Stupidity/Idiocy Update

    Oh I’m getting so angry when I see those images!

  23. Youri Carma says:


    Rocket attacks still going on? Don’t hear anything from MSM about that.

  24. trooper dave says:

    The uk postal system is being readied to sell to a gubberment “friend” for the lowest bid price. Any public service/utility is eventually run into the ground by gubberments who deliberately employ idiots, impose self-damaging policy, etc so the service can be given, sorry sold, to a “friend”. The friend then can then turn the service around and make a killing…. at the public’s expense. Any service is built on public funds with CEO, gubberment friends from the club appointed to wreck the service. In times of financial trouble , engineered by the two headed snake of gubberment and banksters, the services are sold in a fire sale. Any service that merely supplies benefit to the public is SHUT DOWN. All other services now in “friends” hands become pay through the nose to fleece the public and strengthen the flow of wealth up the pyramid to the cap stone.

    It’s all a game, and the players all meet at the club house. And you and I ain’t in the club.

  25. Phil says:

    Last I heard stamps were legal tender in the UK, buy a barrow load then go to the mint after the stamp price hike and stock up on bullion, can use the barrow to bring it home.

  26. Youri Carma says:


    Jim Sinclair: “Haven’t you seen the tremendous jawboning and market intervention to hold gold in that range at $1,650? $1,764 and they lose control.”

  27. Tamir says:

    @Youri Carma,

    I don’t really follow the MSM news to be honest. I spoke with my sister-in-law yesterday (my niece Eden is gorgeous!) and she seemed rather relaxed and did not mention it so I guess things are under “control”.

  28. Youri Carma says:


    Glad to hear that.

  29. gold bullet says:

    The Guardian is doing a ”Battle for the internet” special this whole week, and of course, in true Guardian-esque, neoliberal style, the biggest threat to the free internet, according to them, are the govs of Russia, China, Iran, Syria, North Korea (the usual suspects), not the Fascistic States of America or the United Kingdom of Great Fascism. Pathetic!

  30. MirrorMirror says:

    BIS FX/Gold “Intervention” Profiles – Before And After

    Wow …well done ZeroHedge !

    If that isn’t “significant”.
    Obviously BIS reads ZH … LOL

  31. MirrorMirror says:


    Labour peer suspended after he ‘offered £10m for capture of Barack Obama’ claiming his bounty on terrorist suspect has ‘insulted all Muslims’

    …Lord Ahmed of Rotherham is reported to have made the gesture….


  32. MirrorMirror says:

    @Harry … Deek is The Best …. love him.

  33. gold bullet says:

    ”Paramount Thinks That Louis CK Making $1 Million In 12 Days Means He’s Not Monetizing”


  34. gold bullet says:

    ”Pirate Party Sues Hollywood Backed Group over Pirate Bay Censorship”

    ”The Dutch Pirate Party is taking local anti-piracy group BREIN to court in the hope of overturning a recent order that prohibits the Party from operating a Pirate Bay proxy site. The Pirates claim that the Hollywood backed group is guilty of “legal harassment” and “trampling people’s freedoms.” They demand that the court overturns the previous ‘ex parte’ verdict to allow the Pirate Party to be heard.”


  35. gold bullet says:

    Exclusive: Assange on ‘The World Tomorrow’ premiere (full version)

  36. Youri Carma says:

    • CPI Headline Inflation of 0.3% Was 0.8% Not Seasonally Adjusted
    March Year-to-Year Inflation: 2.7% (CPI-U), 2.9% (CPI-W), 10.3% (SGS)

  37. Youri Carma says:

    Fed fines Bank of NY Mellon $6 million
    The Federal Reserve on Monday fined Bank of New York Mellon $6 million for putting up ineligible collateral when it borrowed money under one of the central bank’s emergency loan programs in 2008.

  38. Danny Cunnington says:

    Thanks for the link Harry, Deek rocks and smacks the nail on the head.

  39. giggler says:

    … “Royal Mail said it has lost 1 billion pounds over the last four years.” …

    They lost my parcel last month too

  40. Vonda Bra says:

    @ Harry | April 16, 2012 at 4:17 pm |

    Thanks! 😀 … brillant!

  41. Mark Lytle says:

    Tracking the trackers: a step-by-step guide

    Cookies and web trackers are constantly monitoring our online lives. But who are the big players tracking us? Help us to identify them and we’ll reveal what they’re doing with our data

    Seems like a good idea but can you trust the Guardian?

  42. gold bullet says:

    @Mark Lytle

    ”Seems like a good idea but can you trust the Guardian?”

    No, you can’t trust them, since they are the mouthpiece for the neo-liberal axis of evil. Have you seen their article today about the US organization that fights internet censorship in all of the usual suspect countries (Russia, China, Iran, Syria, etc.), but doesn’t give a shit about internet censorship in the West?

    A truly shameful article, pure propaganda.

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