Thursday, 9 August 2007

Britain should have joined the Euro

The European Central Bank has "printed" 95 Billion Euros today.

I reckon that's around 300 Euros for every man, woman and child in the Euro zone. (£199 to you, squire)

How wonderful that the government can create money out of thin air. Or am I missing something?

1 comment:

David Farrer said...

Comments made on previous template:

David Farrer
But where does it come from?

13 August 2007, 06:15:29 GMT+01:00
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yes you are. it didn't give the money away. it lent it out at the prevailing market rate.

13 August 2007, 00:43:04 GMT+01:00
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Surreptitious Evil
Yup, they can. Trivially. Obviously. As I suspect you and Cleanthes both know. 
You still think money is actually linked to something of corporeal value? How 1931 (1971 for your American readers) of you. 
If you are really, really bored, try here for endullment.

12 August 2007, 17:23:15 GMT+01:00
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David Farrer
Yes, I guess we both are. 
Presumably that's why Brown is PM and we're not...

10 August 2007, 06:37:16 GMT+01:00
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Hang on a mo.... 
Didn't Brown sell lots of our gold - at rock bottom prices - and buy Euros - which are just about to become (even more) worthless? 
Or am I missing something too?

9 August 2007, 23:52:13 GMT+01:00