And here's who's footing the 10 trillion-dollar bill
Can't the Bank of England print the money instead of private banks? 🤔
By their own admission, the BoE reports on their website that nearly 90% of £GBP is created by private banks. They create the rest... almost exclusively as interest-bearing debt. It's madness, and unnecessary.
😦
I thought only the BoE could legally print money out of thin air. I'm still confused.
Can't the Bank of England print the money instead of private banks? 🤔
By their own admission, the BoE reports on their website that nearly 90% of £GBP is created by private banks. They create the rest... almost exclusively as interest-bearing debt. It's madness, and unnecessary.
😦
I thought only the BoE could legally print money out of thin air. I'm still confused.