How would you feel if you were told that two-thirds of the apparently scary rise in the stock of UK government debt since the start of the crisis has taken the form of ultra-cheap, irredeemable bonds? Would you not feel reassured that the government need never redeem this debt or, if it wanted, even pay interest upon it? Yet as soon as you learn that this ultra-cheap debt is money, the phrase “Zimbabwean economics” might trip at once off your tongue.
如果有人告诉你，自危机爆发以来，英国政府债务总量出现了令人触目惊心的增长，其中三分之二是极廉价的不可赎回债券，你会怎么想？英国政府永远不需要赎回这批债务，或者如果它愿意的话，甚至不用付利息，你难道不会松一口气吗？然而，一旦你知道这种廉价债券其实就是货币的话，或许你就会脱口说出“津巴布韦manbetx20客户端下载 学”这个词语吧。
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