| Title | The Bank of England Declares the Pound is Fiat | |
| Date | Tuesday March 25 2014, @03:15AM | |
| Author | LaminatorX | |
| Topic | ||
| from the Fiat-£ dept. | ||
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."
| Links |
printed from Dev.SN, The Bank of England Declares the Pound is Fiat on 2024-04-29 04:35:36