Wednesday, March 14, 2012

Never repay any debts but screw the public

U.K. May Revive Long Gilt First Used in South Sea Bubble

Chancellor of the Exchequer George Osborne will use his March 21 budget to announce a consultation on introducing government bonds of up to 100 years and reviving debt with no fixed maturity, a sort of bond first issued in the 19th century to put off repaying debt resulting from the South Sea Bubble.

Posted by mark @ 10:21 AM (1089 views)
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One thought on “Never repay any debts but screw the public

  • general congreve says:

    Priceless!!! And they were saying it was a brand new idea on Newsnight last night.

    The bubble is in bonds and fiat currency alright, just like I always said.

    Stick with your cognitive dissonance if you want, but the writing is now firmly on the wall in six foot high letters.

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