BBC finally tells the truth about government borrowing

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Title	:	BBC finally tells the truth about government borrowing
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Don’t they just print money lol
Comment from : Keith Venom

Value of GBP is backed by ability to pay that debt If lets say Rishi would say fuck it had enough lets write of that debt the rate of the pound would drain to shit hole faster than in "black Wednesday" of 1987 unless every country would do the same 😎😆
Comment from : NoToCo

That’s because government debt isn’t borrowed It is self-created, because a) a national gov’t, b) it’s own currencies and c) it’s own central bank See John Weeks book, “The Debt delusion” (Understand this also, example the US, there isn’t enough monies in all the US banks, to lend this accumulated sum, Duh Another good book challenging this false claim about ‘national debt’ is “The Deficit Myth”, by Stephanie Kelton I really like Robert’s posts Sanity in an ocean of distortions and outright falsehoods
Comment from : John Maisonneuve

MMT on BBC? wow
Comment from : boz

Hang on, doesn't the public own the Bank of England? Can we tell them we owe nothing?
Comment from : Antony Warren

Okay , just want to ask if it is true English language or United Kingdom language where the nation that takes care of the independent language and its own land that will never be sold because of community responsibility Where if they have and the united state is a separate land and there is the united kingdom government where the us various nations who learn about religion actually learn the language The United Kingdom and most of the religious governments teach about God/ independent language that's the difference between dollars and euros
Comment from : Malaysia

Yes - but who owns the Bank of England? It's not the government
Comment from : PDZ1122

This applies to all the debt btw, including much overhyped US debt
Comment from : Señor

deceptive theft a con that why they stopped using gold and silver you can only do it with the paper con debt
Comment from : Ron

But made up from nothing printed out of thin air Debt from fuck all Billion paid to the baks made from from nothing If yòu print your own money there is no debt We pay these shits to keep printing more debt what bollocks is that
Comment from : Ron

I don't mean to make a spurious statement or just point out the obvious, but it's all just make believe, who makes the money, who makes the rules and who follows them?
Comment from : sonofwilliamchris

Doin the same in canada at a higher rate
Comment from : Cones

Wait Bank of England- another branch of the government mmmmhmmm' you sure mate'
Comment from : Yugal R

They might have told the 'truth', but I don't think the running up of all this debt over the past year is in any way a good thing
Comment from : naturous_aspect

Well, they told a half truthbrThat "debt" is the creation of money, not the redistribution as should be the case with private debt (private banking regulations aside for ease)brTo "pay it back" is to take the value of that money out of existencebrbrThat, is why "the debt" has never been paid off Its an accounting practice at best to ever claim it hasbrTo actually pay it off, take it back out of existence has no precedent to judge bybrAnd that is scary because nobody is talking about what those consequences could be
Comment from : Spike20101000

When you are borrowing from a central bank, you are basically borrowing purchasing power from the holders of the currency
Comment from : ECONOMICS

Excatly now the tories can stop hiding behind this excuse and pay the NHS workers a fair pay rise, build more social housing and provide more to schools
Comment from : qwerty

finally!
Comment from : 77Tigers

To all the inflation fear-mongerspost WW2 debt to GDP was circa 245 Japan’s is currently 237brbrAs a leading economy we are capable of sustaining a higher ratio of debt to GDP and leveraging the borrowing to produce wealth This < 100 figure by the Tories seems arbitrary
Comment from : Vörös Medve

OMGonly 10 years too late!
Comment from : Vörös Medve

Who really owns the Bank of England though? 🤔
Comment from : Steel Stunners

let the future generations worry about it, just like they'll have to worry about the environment - right?
Comment from : Beautiful Sickening Rolex

you only have to worry about the massive inflation that is going to come
Comment from : Ron

It makes no logical sense to borrow from ‘oneself,’ does it? This is being economical with the truth, to say the least, and the majority of people have not awoken to the ruse that has been playing from right under their collective noses The only reason why government must borrow is because it has handed the power of money creation to private commercial banks that issue money as a debt In reality, it is the banks that ought to borrow money and the government that ought to create money This deception has yet to be unveiled The public debt will cease to exist once these institutional roles have been reversed
Comment from : Polymath