Err…..


QE had the aim of removing gilts from the market. The idea was that money would go as a result go into riskier assets, and new investment. It didn’t. It went into speculation.

Speculation is riskier assets, isn’t it?

2 thoughts on “Err…..”

  1. And today tax pays for government expenditure

    All government spending is initially paid for by the Bank of England making payment on government command. The overdraft this might create is then by convention cleared by a mix of tax receipts and debt issues.

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