It used to be said that central banks were the most profitable businesses on earth. They chop down a $1000 tree, pulp it into paper, cut the paper into strips, print on them, and call it a billion dollars.

There’s money in them thar trees

In America this is now happening on a grand scale at the Fed — electronically, at least. The practice will be coming to Britain before you know it. The Old Lady of Threadneedle Street is already gathering up her skirts and sizing up her lumberjack outfit.

Even the austere Trichet of the ECB has been caught lasciviously eyeing up the axe. The Black Forest may not have long to live.

Gordon Brown, who famously once shared a bed with a lady called Prudence, will soon adopt policies widely recommended by Robert Mugabe of Zimbabwe.

The world has succumbed to the Zen-like contradictions of Wonderland. Alice has finally gone through the looking glass.

Almost anything could happen … and probably will.

John Evans

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