Alice stop bitching ,we get value from our investment !
A government borrowing from its own central bank is a meaningless paper shuffling exercise, as Mark Wadswoth explains. See:http://markwadsworth.blogspot.co.uk/2012/04/half-right-is-still-completely-wrong.html
It's worse than that, Ralph. To me it seems like deception.(Enjoy your comments btw)
Its continuity Brown, he may be out of office but he's still in power and the Coalition are following his doctrine.The Government prints the money, gives it to the BOE who use it to buy the Government debt. Absolutely bloody brilliant the Government under Mr Brown's guidance has discovered a means of perpetual self funding with a rich seam of unlimited borrowing. No more boom and bust for Britain we can just crack on with the printing. What can possibly go wrong?
The light blue bits are also pretty alarming. The nationalised banks?
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