Friday, September 24, 2010

Great pics

UK National Debt

The UK national debt is the total amount of money the British government owes to the private sector and other purchasers of UK gilts.

Posted by mark @ 12:44 PM (3333 views)
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One thought on “Great pics

  • This article is founded on many popular misconceptions.

    Investigate why bond markets exist and what “public debt” means to a monopoly issuer of currency. It’s a difficult concept to grasp but you might be surprised.

    In simple terms bond issuance is an artificial construct of the central bank used to maintain interest rate settings. In recent years there has grown an erroneous belief that bond issuance must match Government spending deficits. This is a fallacy. Most probably initiated by net beneficiaries of the bond trade.

    Many progressive economists (That’s those that have not always been wrong) suggest a country would be able to operate a more stable monetary system without Government debt issuance.

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