Hello fellow rebel capitalists hope you're well. So the Bank of England just came out with a urgent

warning about the pension funds. Get right into this article from CNBC.

Screen share.

All right, there we go.

Off to the article title, Bank of England

that calls for urgent global action

after near collapse of the UK pension funds. We know what happened. This was maybe two months ago. They're basically saying now that we need to take more action, urgent action to avoid a total collapse of the UK

pension funds in the future. Key talking points, a number of pension funds were hours.

Now this is being disclosed here, you know, back then there, oh, nothing to see here.

We're just going to do a little more quantitative easing and, um, would imply this situation is urgent is

simply fear-mongering in your tin foil hatter now after the fact they come out and say oh yeah by the way we were hours away from collapse.

The bank emphasized the need for regulators across jurisdictions to strengthen the

resilience of the sector saying that there is a need for urgent

international action to reduce risks in non-bank finance. This is the ultimate hypocrisy. Think about this for a moment. This is the

Bank of England. This is the Central Bank. This is the entity that kept rates at zero percent and they might have even got negative.

Josh did the UK go negative with their overnight rate. I don't think they did. But they kept rates at

0% for a long time. So you're keeping rates, let's assume, artificially low.

What is this going to do to the pension funds?

It's going to make them go further out the risk curve.

So what are they going to have to do to get that return

that they otherwise would have with quote unquote normal interest rates.

They're going to have to lever up.

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