- Re: Trapped in the maze Archived Message
- Trapped in the maze - Keith-264 September 7, 2023, 7:18 pm
Posted by Ken Waldron
on September 7, 2023, 8:45 pm, in reply to "Trapped in the maze"
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"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. |
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