From: Malcolm Parkin, Kinnesswood, Kinross.
Interest rates are on the rise, for complicated reasons trotted out by economists, who ignore the obvious which is that those who supply our money are putting their prices up to recoup a long period of getting next to nothing for it. It is forecast that the cost of borrowing might treble. Considering that the UK already pays about £2 bn a week in interest, that is a frightening prospect. But to whom is this interest being paid we ask.
from the Latin 'let it be done'... money made legal tender by government decree, and backed only by faith in that government; as opposed to real money, backed by an asset such as gold, and redeemable for such, and therefore a store of value for its owner. The huge advantage of fiat money however, is that for as long as faith in its issuer continues, it can go on being created.
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