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Old 03-05-2012, 20:17   #25
AccyChris
I am Banned
 

Re: Bank of englands promisery notes

MY CONCLUSION:

Money is created when you sign a piece of paper agreeing to pay(could be toilet roll)

that's the only way money is -ever- created.

Your 'promise to pay' creates money. Yours, and everyone else's

banknotes are Promissory Notes(spelt correct unlike the title) - just like a cheque or Loan Agreement or any other IOU
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