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THE BIGGEST FRAUD?

22nd May 2015
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All concealed by double entry book-keeping?

http://www.positivemoney.org/join-us/thank-you/

Any sensible responses?

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By User deleted
22nd May 2015 09:02

Fractional reserve banking ...

Have a look at this

https://www.accountingweb.co.uk/blog-post/fractional-reserve-banking-pri...

 

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Out of my mind
By runningmate
22nd May 2015 19:01

Another huge misunderstanding is that government expenditure ideally should not exceed - or even should be less than - government receipts.  But if government was taking off us more than it spent it would be sucking the life blood out of the economy!

RM

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By User deleted
23rd May 2015 07:35

Ignore borrowing ...

@runningmate – ‘.. if government was taking off us more than it spent it would be sucking the life blood out of the economy ..’

Probably misunderstood, but is this Mr Micawber approach too simplistic

Doesn’t this ignore borrowing, PFI (off balance sheet) etc. and all the other little tricks Governments get up to – resulting in more being spent than received?

... borrow and hopefully trust inflation to extinguish the debt over time - hence nervousness over deflation

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