British pensions required emergency gilt purchases (QE) from the Bank of England because falling gilt prices threatened to wipe out entire pension fund portfolios, revealing the fragility of the 'safe asset' framework that relied on government bonds always being safe.

factualpending

Speaker

Preston Pysh

Evidence Quote

their entire pension fund was literally going to zero for the entire UK if they didn't step in and perform the backstop with quantitative easing

Source

BTC101: Macro Overview 4th Quarter 2022 w/ Luke GromenPreston Pysh
Created: 8/11/2026, 1:30:01 AM

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