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If Capitalism is so great........ (Read 3089 times)
Gnads
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Re: If Capitalism is so great........
Reply #75 - Sep 21st, 2020 at 6:00pm
 
The_Barnacle wrote on Sep 21st, 2020 at 4:10pm:
Bertie wrote on Sep 21st, 2020 at 3:53pm:
The UK government is to repay part of the nation’s first world war debt – 100 years since the start of the war.

As Europe marks the centenary of the Great War, the Treasury said it would pay off £218m from a 4% consolidated loan next February, as part of a redemption of bonds stretching as far back as the 18th century. They also relate to the South Sea Bubble crisis of 1720, the Napoleonic and Crimean wars and the Irish potato famine.

Almost £2bn of first world war debt remains, and the government said it was looking into the practicalities of repaying it in full.

The “4% consols” were issued in 1927 by Winston Churchill, then chancellor, to refinance national war bonds originating from the first world war. The government’s Debt Management Office (DMO) estimates that the nation has paid £1.26bn in interest on these bonds since 1927.



2 billion pounds is nothing.
The current UK national debt is more than 1 trillion pounds


Were you an early employee at one of the first Ten Pin bowling alleys?

Rack 'em up Solley.  Roll Eyes
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Grappler Truth Teller Feller
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Re: If Capitalism is so great........
Reply #76 - Sep 21st, 2020 at 6:15pm
 
Indeed - all Western nations - the successful ones anyway, are socialist to some degree..... nothing to see here... including the US.....
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Bertie
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Re: If Capitalism is so great........
Reply #77 - Sep 21st, 2020 at 7:03pm
 
The_Barnacle wrote on Sep 21st, 2020 at 4:10pm:
Bertie wrote on Sep 21st, 2020 at 3:53pm:
The UK government is to repay part of the nation’s first world war debt – 100 years since the start of the war.

As Europe marks the centenary of the Great War, the Treasury said it would pay off £218m from a 4% consolidated loan next February, as part of a redemption of bonds stretching as far back as the 18th century. They also relate to the South Sea Bubble crisis of 1720, the Napoleonic and Crimean wars and the Irish potato famine.

Almost £2bn of first world war debt remains, and the government said it was looking into the practicalities of repaying it in full.

The “4% consols” were issued in 1927 by Winston Churchill, then chancellor, to refinance national war bonds originating from the first world war. The government’s Debt Management Office (DMO) estimates that the nation has paid £1.26bn in interest on these bonds since 1927.



2 billion pounds is nothing.
The current UK national debt is more than 1 trillion pounds



It's 2 billion pounds of debt still outstanding AFTER 100 YEARS.  In other words they had a huge debt for 100 ears and HAD to service it and it is still not paid off. So money doe not grow on trees.
Sure, you can cancel foreign debt - but it is very detrimental to your credit rating as a country - but not debt to your own people.
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