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Marco SabaThat the liability of the central bank is a fake liability is a well recognized fact among academics. Here: Seigniorage, W. Buiter, 2007: http://eprints.lse.ac.uk/19733......

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RJif the UK Govt deficit spends itDEBIT ExpenseCREDIT ????????????????????If a bond is issued to either the market or the BoE = debtCREDIT Bonds issued (DEBT?)But what if a bond wasn't issued and the treasury just had a reserve overdraft at the BoE. That the treasury paid interest on. Is this really a...

November 2016

RJ"There can be no net savings"Only if you exclude Government bonds held by for example pension funds. And why would you do this. As you pointed out"The liability is measured by bonds in issue."Agree. But here is a point that many overlook. This can include Govt bonds held by the non bank sector. Or b...

November 2016
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Michael Wallace EllwoodWouldn't it be better to petition the Chancellor to give his fellow ministers the authority to spend government money on building whatever infrastructure the country needs as an investment for the future?The BoE will already do whatever the Chancellor needs it to do in order to further the governmen...

November 2016
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Marco SabaAll the UK money is ending up in the black (magic) hole of fake liabilities of the central and commercial banks. All the clients deposits must be segregated from the banks balance sheet....

November 2016
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Diana Whiteomg, wouldn't that help a lot of people and could be in time for Christmas the season of goodwill!...

November 2016

Michael Wallace EllwoodYou are right - the country needs "fiscal easing", or as we used to call it "government spending".However, the government could easily do this now - today, if it so wished, without changing the money system.It could either do it under the present (artificial) arrangements, whereby gilts are sold, ma...

November 2016

daviebobGreat summary of situation:Sent the same kind of thing to T. May the other day:-The exceptional stress to the British Economy caused by Brexit justifies exceptional action. The Government needs to regain control over the sovereignty of our money from the Banks and replace monetary easing with QE wit...

November 2016
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