“The Duchy of Lancaster paying rent to the Crown Estate? Isn’t that just the King paying the King, or at least the monarchy paying the monarchy? An accounting trick? Almost a fiddle?” Yes. Yes, it is.
See also the Treasury, which is the State, mostly issuing bonds to the Bank of England, which is the State. Even when those bonds were held by the big scary “bond markets”, which have no such hold over the policy debate in any other advanced country, then the State could simply issue itself with enough of its own free-floating, fiat currency to redeem them. There is no debt. There is no debt. There is no debt.
You weren't at Mas, are you all right?
ReplyDeleteOh, you clearly know me with my aches and pains. Thank you so much for asking. God bless.
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