Arse handed to

Any way you look at it though, and however you consolidate the accounts buying Gilts back at higher prices than they we issued at is still going to mean HMT has lost money. You can acknowledge it upfront, as you see to want to do with consolidated accounts or you can amortize the cost as HMT has done, but you can’t escape this very basic fact.

This is pretty simple stuff in concept – you only need to understand bond valuation and pricing and some common accounting principles to get there. I’m sort of surprised you haven’t managed to.

Richard Murphy says:
October 26 2020 at 5:38 pm
I have already explained why you are wrong on this

And the Treasury did not lose on repurchasing these gilts

It saved paying future interest to third parties – and that was what the premium represented

Hence, prepaid interest

It really is not hard

And now your posts will be deleted, because I bet bored after a while with people who can’t understand macro issues

It’s all rather amusing.

Richard Murphy says:
October 26 2020 at 6:59 pm
It hasn’t been paid

Stop the BS

That was your last post

How dare you disagree with me!

5 thoughts on “Arse handed to”

  1. This is the man who is now turning his mighty intellect from examining and commenting on tax to audit and accounting.

    Lord help us all, and his deluded funders.

    Such a pity Christy Malry is no longer around.

  2. This is the BBC’s go to ‘expert ‘ on things financial. I haven’t heard on the BC recently. But then he’s one of the (many) reasons why I gave up listening to the BBC…

  3. You’d think he would want to keep all these posts in which he vanquishes the Unbelievers, wouldn’t you? I mean, if they show him in a good light as he thinks.

    You would delete them if you’d been shown to be a chump and your only response was bluster and ad hominem. In that case yeah, delete them.

    How odd!

  4. “And now your posts will be deleted, because I bet bored after a while with people who can’t understand macro issues”

    Exactly the sort of patient and sympathetic soul you’d want to be teaching students at Uni

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