read more at: https://eraoflight.com/2022/10/04/the-bank-of-england-rings-the-mother-of-all-bells/

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.

There is an old expression — “No one rings a bell” — meaning there’s no warning when there is a major top or bottom in the markets. But Peter said there often is a bell but nobody hears it. Last week, Peter said we got the “mother of all bells.”

“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.”