"Get stuffed"

[Organ Morgan.]

It's a slow rot, isn't it? Socially, economically, morally and politically. Years of self-imposed austerity on the back of pretending Blighty's skint when the government can create any amount of currency to spend without the need to borrow a single penny of it. That what QE is. There's been £434 billion of that so far. Instead of the Treasury simply entering those digits at their computer terminal someone at the BoE did so as debt to transfer over to the Treasury. Simply put, the British government borrowed £434 billion from itself. What a farce! QE is also known as monetising, another polite term, when in reality it's counterfeiting. It occurs because what we term as money is currency which is debt-based confetti because it's backed by nothing tangible and is why an infinite amount can be magicked into existence. It's the same the world over and is the reason all 200+ countries carry a national debt: not one is a creditor nation.

[RonnieBird]

It's a slow rot, isn't it? Socially, economically, morally and politically. Years of self-imposed austerity on the back of pretending Blighty's skint when the government can create any amount of currency to spend without the need to borrow a single penny of it. That what QE is. There's been £434 billion of that so far. Instead of the Treasury simply entering those digits at their computer terminal someone at the BoE did so as debt to transfer over to the Treasury. Simply put, the British government borrowed £434 billion from itself. What a farce! QE is also known as monetising, another polite term, when in reality it's counterfeiting. It occurs because what we term as money is currency which is debt-based confetti because it's backed by nothing tangible and is why an infinite amount can be magicked into existence. It's the same the world over and is the reason all 200+ countries carry a national debt: not one is a creditor nation.

Quite right