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Gregory SchoenmakersEven if the government issued the money directly, it would still be a debt for the government. The difference is that like the BoE, it wouldn't have to redeem these IOUs for anything; they just call it "legal tender". (It is different for private banks which must be willing to redeem their created b...

2 weeks ago

Gordon BrooksThat brings up the question, though: if the Bank of England is, in fact, part of the government, then why does it issue money as debt? It makes absolutely no sense for a government to sell bonds to itself....

2 weeks ago

Gregory SchoenmakersThe BoE is a nationalized central bank meaning it is part of the government. So any money owed by the government to the BoE is just money owed by one department to another. That doesn't mean that buying up bonds is a good idea. It is sending newly created money to the wrong places - the very rich....

2 weeks ago
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