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...why would the government borrow from a private bank when, in the form of the Bank of England, it actually owns its own? If we persist in the idea that asking the Bank of England to create money puts us in debt, then given its only shareholder is the government we are actually in debt to ourselves – and that is no debt at all. And logic dictates that if you are not indebted you do not have anything to pay back. Progressive PulseThe debt deceptionPeter May
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...why would the government borrow from a private bank when, in the form of the Bank of England, it actually owns its own? If we persist in the idea that asking the Bank of England to create money puts us in debt, then given its only shareholder is the government we are actually in debt to ourselves – and that is no debt at all. And logic dictates that if you are not indebted you do not have anything to pay back. Progressive PulseThe debt deceptionPeter May
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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...why would the government borrow from a private bank when, in the form of the Bank of England, it actually owns its own?
If we persist in the idea that asking the Bank of England to create money puts us in debt, then given its only shareholder is the government we are actually in debt to ourselves – and that is no debt at all.
And logic dictates that if you are not indebted you do not have anything to pay back.Progressive Pulse
The debt deception
Peter May