For help, advice and discussion about stuff not related to aviation. Play nice: no religion, no politics and no axe grinding please.
By oldbiggincfi
#1830491
I keep hearing about our 300 Billion National debt but I have no idea who has loaned this .

Where is this big barrel of money stored and who fills it ?

What is a Billion anyway ?

No politics please - just plain ignorant
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By johnm
FLYER Club Member  FLYER Club Member
#1830496
1bn is 1000million we have all adopted the US model now and so a trillion is a 1000bn

The money comes from a range of sources some of it created out of thin air by the Banks especially the Bank of England.

It is stored as digits in a range of computers, barrels are used more wisely for wine, whisky and Beer :-)
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By Nero
FLYER Club Member  FLYER Club Member
#1830499
Yeah, can be anywhere from newly created money (which is normally avoided as it causes inflation), to pension or investment funds, to other countries, etc.

I always like to imagine it as a Scroodge McDuckian vault that can be dived into

Should also be remembered that these loans are often repayable over decades and not always repaid as they're simply rolled on. Like having a never ending mortgage, but the lender is often the Bank of England which needs you to survive just as much as you need it

~ Scott
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By Flying_john
FLYER Club Member  FLYER Club Member
#1830523
National savings, Premium Bonds, Guv'mint Bonds all part of the national debt. Even when we "print money" it is a government bond that is issued to the Bank of England.


We are all creditors to the national debt in some way or other.
By oldbiggincfi
#1830547
Paultheparaglider wrote:Doesn't it all come from a magic money tree?



And if we invested what we had, when we had it, in " Bit Coins", then we would all be rich .


Funny , when I borrowed money from Granny , she went to her purse and took out a fiver.

So I knew I owed Granny a fiver to put back into her purse ,

Oh so simple :bball:
By GAFlyer4Fun
#1830584
How about the Covid specific debt is just written off world wide.... carry on as you were with any previous debts.

Yeah far too simple but it would save the world population a whole lot of hassle and stress.
By oldbiggincfi
#1830592
low&slow wrote:I think I would get stressed if the government told my pension fund "too bad, we're not going to pay you back."



No good ideas **********************Please
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By Jim Jones
#1830607
GAFlyer4Fun wrote:How about the Covid specific debt is just written off world wide.... carry on as you were with any previous debts.

Yeah far too simple but it would save the world population a whole lot of hassle and stress.



Jack Ryan did that in a Tom Clancy novel. It’s all just numbers on s spreadsheet after all.
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By AndyR
FLYER Club Member  FLYER Club Member
#1830642
GAFlyer4Fun wrote:How about the Covid specific debt is just written off world wide.... carry on as you were with any previous debts.

Yeah far too simple but it would save the world population a whole lot of hassle and stress.


I’m not the only one that has that simple solution then :thumleft:
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