Bank of England expands data and cloud framework by £26.7 million after revising data strategy The UK central bank is expecting a 45 percent hike in the maximum cost of support services as it moves to the cloud and executes a revised data and analytics plan. In an official notice, the Bank of England said it would increase the maximum spending of a framework deal for a raft of services including support for its complex …
The data strategy at the Bank is a total mess. They have been trying for about a decade to consolidate and provide a shared framework for accessing the data. However so far they have run 2 projects for this, both with huge scope, multi million pound budgets. Both projects pumped the money into external consultants and both projects ultimately didn't achieve anything!
Sounds like most Government they need a decent in-house IT operation to run their existing data centres and some Sovereign Cloud.
Shame the Tories axed it and NuLabour transformed what was left into an endless procurement function.
https://en.m.wikipedia.org/wiki/Central_Computer_and_Telecommunications_Agency
I don't think the BoE can be classed as government. As far as I'm aware the BoE is outside of government. That's why the square mile is not subject to the same laws as the UK and the monarch, in theory, has to ask permission to enter. They don't even have to publish or inform the government of their operations, in fact I heard they do not even report fully on their meetings with the BIS etc. (As if Rachel from Accounts would be able to contribute anyway). Same goes for the US Fed in a different way and I assume ECB is the same. The banks rule us and have done for centuries. The people you vote for are puppets. Look what happened to Truss & Kwarteng, that was orchestrated and there was a reason they didn't fully consult on what they did, they knew it would be opposed because of the danger it might work and increase the power of the people.
There is constant insider trading and manipulation of markets. It is allowed when by certain institutions close to the central banks just not by individuals or random organisations. That's how the world really operates.
So where's the funding for Britcoin coming from? If it's to be anything but an unmitigated disaster it will cost a lot of money. Or do they intend to borrow from themselves having magicked the money into existence. They could borrow in current currency and pay off in Britcoin magic and nobody would be any wiser, it would just be covered by inflation and the general reduction in standard of living! Once they have it, they can do whatever they like including disolving government and the pretence of democracy. Don't like it? Ok starve, you'll find your Britcoin cannot be spent on food. When the Russian / Chinese / Iranian / North Korean hackers get to it, we'll all have nothing, even the toadies that work for the bank "misinformation" monitoring department.
Also, can someone explain to me why our government using our money has to pay interest on borrowing? Why don't we as was done in WW1 with the Bradley pound not pay interest on currency that is unlimited and made on demand such as during QE or just loans?
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