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Richard Woolnough adds to last week's thoughts from a colleague that the BoE could just cancel...

Richard Woolnough adds to last week's thoughts from a colleague that the BoE could just cancel the gilts it holds to improve the U.K.'s finances. What the 2 are describing is the alchemy of fiat money - allowing governments to issue debt denominated in the currency which their (supposedly) independent central banks can print. It works swimmingly, until it doesn't.
Comments (3)
  • Just cancel your credit card, but make sure you get a new one first.
    20 Apr 2012, 12:09 PM Reply Like
  • Printing money is good. It has no affect whatsoever on the world.
    Print from now until forever and it won't matter. Ben Shalom Bankster
    has decreed. You muppitts are so stupid.
    20 Apr 2012, 01:13 PM Reply Like
  • Wow ... this is an idea of a genius. Cancel the debt!!! Only somebody super intelligent could possibly come up with such an idea. I think that this is Nobel Prize winning stuff. Didn't that idiot Stiglitz get a Nobel Prize as well?
    23 Apr 2012, 06:13 PM Reply Like
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