The Bank of England’s going to increase interest rates today. It may be by 0.25%. It could be by 0.5%. But the question is, why are they choosing to increase the price of money when we already have an inflation problem? A thread to explain…..
UK energy prices increased by around 50% yesterday but the cost of producing most energy has not increased. Nuclear and renewables cost the same to produce, for example. So, the price increases deliver very large profits to some energy companies. Why is Sunak happy about that?
The French government is taxing EDF energy €8.4 billion to cover the increase in price rises.
The UK government is not taxing our energy companies, they are issuing loans which we all have to pay back.
See the difference?
@jacobbizley There are lots of layer 2's on ethereum like immutable X which are used for gasless minting.. its still a young tech and there are lots of solutions in the pipeline for reducing costs. Layer 1 Ethereum NFT's are not likely to be around once the cheap layer 2's take over!