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    Re: Trapped in the maze Archived Message

    Posted by Ken Waldron on September 7, 2023, 8:45 pm, in reply to "Trapped in the maze"

    "The Treasury had to transfer 14.3bn in July alone to cover losses. But, within the current system, the alternative of having to pay ever higher interest on the 900bn or so of central bank reserves created to buy the gilts in the first place is no less palatable. "

    It's internal accountancy... as the bank of England is also part of the Government... its essentially paying interest to itself.

    Message Thread:

    • Trapped in the maze - Keith-264 September 7, 2023, 7:18 pm
      • Re: Trapped in the maze - Ken Waldron September 7, 2023, 8:45 pm