"The Bank of England was the first major central bank to blink in this global game of chicken..."
Via Schiff: Last week, the Bank of England suddenly pivoted.
It gave up its inflation fight to rescue its pension funds and bond market. What exactly happened? And what does it tell us about the Federal Reserve’s inflation fight? Peter Schiff explained it all on his podcast.

It was literally Big Ben that rang because the bell was in England... The Bank of England was the first major central bank to blink in this global game of chicken.”
Last week, the Bank of England pivoted and returned to quantitative easing.