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23 May 14
16:03
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Date Joined:
29 Sep 10
Would all the debt be wiped out in China if we declare war with China? No shooting just declare war and refuse the debt.
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If you owe somebody money and you have a fight with him do you think that you no longer owe him any money? 
Do you have different fights for different owes? One hand only for a fiver. 'No kicking' ones for twenty quid. And knives for a ton?! 
Much of our debt is owed to ourselves rather than the Chinese. A lot of it could be squared off by cancelling what the Treasury owes the Bank of England.
George Osborne says: "I hear you!"
9 November 2012 Last updated at 14:18
The Bank of England has said it will give the Treasury the interest it earns on certain government debts it holds.
The Bank owns £375bn in gilts due to its quantitative easing (QE) policy of buying up debt to boost the economy.
http://www.bbc.co.uk/news/business-20268679
However ...
The Bank said that the Treasury may eventually have to repay its cash windfall if interest rates rise
Yeah. Right.
9 November 2012 Last updated at 14:18
The Bank of England has said it will give the Treasury the interest it earns on certain government debts it holds.
The Bank owns £375bn in gilts due to its quantitative easing (QE) policy of buying up debt to boost the economy.
http://www.bbc.co.uk/news/business-20268679
However ...
The Bank said that the Treasury may eventually have to repay its cash windfall if interest rates rise
Yeah. Right.
we would be mad to declare war with China
but if we decide we are longer going to pay our debts, nobody would lend us any money
we would be in an appalling state
but if we decide we are longer going to pay our debts, nobody would lend us any money
we would be in an appalling state
If we want China to let us off the debt we owe them
I doubt declaring war on them is the way to go
it would not put us in their good books!
I doubt declaring war on them is the way to go
it would not put us in their good books!
war with china has been called off, we've got nowhere to put the prisoners of war
the bigger concern should be what happens when the US tell China they aren't getting their money back.
The world economy will collapse at that stage. I hope I am not here when that happens. Money will be worthless.
but yes I believe they will renege on their debts at some time and go back to isolationism.
but yes I believe they will renege on their debts at some time and go back to isolationism.
George Osborne has decided that it is bonkers for the Treasury to borrow £11bn a year to generate spare cash that sits at the APF doing nothing”
Fck Genius
Fck Genius
I'd like to know what interest rate they're getting paid back to the Government ?
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