buswolley writes:
"https://www.creditwritedowns.com/2014/03/boes-shar p-shock-monetary-illusions.html
In a new paper "Money creation in the modern economy," the Bank of England admits that the pound is a fiat currency, explains how it is created, why this matters, and why virtually everything that economic textbooks say about money is wrong.
The authority of the Bank of England on these matters is not easily dismissed, and can represent a shift in thinking among the financial elites from traditional models to fiat centric models."
(Score: 4, Informative) by coolgopher on Tuesday March 25 2014, @03:17AM
http://dev.soylentnews.org/article.pl?sid=14/03/25/026 230 [dev.soylentnews.org]
(Score: 2) by zocalo on Tuesday March 25 2014, @03:38AM
UNIX? They're not even circumcised! Savages!
(Score: 0) by Anonymous Coward on Tuesday March 25 2014, @04:29AM
Cue Gene Chandler.... Dupe of URL [youtube.com] ( couldn't resist )...
(Score: 2) by The Mighty Buzzard on Tuesday March 25 2014, @09:55AM
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(Score: 0) by Anonymous Coward on Tuesday March 25 2014, @12:14PM
It's a slashdot tradition that soylentnews is proud to continue.
(Score: 5, Funny) by Daniel Dvorkin on Tuesday March 25 2014, @05:49AM
Well, see, news aggregator sites create stories by fiat ...
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