Display:
Thank you for your comments. Having the Bank of England be not independent would have allowed the government to be mmuch more aggressive in the issuance of bonds and not raise interest rates to combat 'so called inflation'.

The only way the UK can begin to substantially improve public services is to adopt an 'American' system of aggressively issuing bonds and allowing referendums for the voters to specifically approve the issuance of said bonds for specific purposes. Otherwise; the UK willnot be able to raise the necessary funding requiresd to make a significant difference in health,education etc.

by An American in London on Fri May 11th, 2007 at 03:08:44 AM EST
I don't understand the connection between an independent central bank and the ability to issue bonds. Government bonds are not issued by the central bank.

Bush is a symptom, not the disease.
by Migeru (migeru at eurotrib dot com) on Fri May 11th, 2007 at 03:22:19 AM EST
[ Parent ]
The issuance of bonds generally has to be done with the approval and backing of the central banks as the governments are guaranteeing a return to the purchasers of the bonds through their central banks.
by An American in London on Fri May 11th, 2007 at 03:26:27 AM EST
[ Parent ]
So the US treasury has to ask for the Federal Reserve's permission in order to print money?

Bush is a symptom, not the disease.
by Migeru (migeru at eurotrib dot com) on Fri May 11th, 2007 at 04:31:39 AM EST
[ Parent ]
...or to raise tax revenue?

Bush is a symptom, not the disease.
by Migeru (migeru at eurotrib dot com) on Fri May 11th, 2007 at 04:32:05 AM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series