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so we are broke?
But last year we managed to give away 11.3 billion in foreign aid.
That's about £137 for every man, woman and child living in the UK
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Who do we owe all this money too?
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Our old friends the banking industry, insurance companies, foreign countries and anybody who buys Government bonds which are sold to raise money.Originally Posted by Amanda_Hugg_n_Kiss
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Given that we sell bonds etc to raise money in reality we should ask who owns the UK debt rather than to whom is it owed.
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Our old friends the banking industry, insurance companies, foreign countries and anybody who buys Government bonds which are sold to raise money.[/quote]
What the money they created out of thin air? - view external link
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Our old friends the banking industry, insurance companies, foreign countries and anybody who buys Government bonds which are sold to raise money.[/quote]
What the money they created out of thin air?[/quote]
That's exactly what they do. When I did my 'A' level Economics - admittedly almost half a century ago - we were told that the amount of money in circulation was directly linked to the production of goods and services. Nowadays, the amount of money in circulation seems to be directly linked to how much people want to borrow. So, in theory, you could refuse to repay your mortgage by arguing that you can't owe money that never existed before you asked for it. Good luck with that one.
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