Anonymous Coward writes:
"http://www.theguardian.com/commentisfree/2014/mar/ 18/truth-money-iou-bank-of-england-austerity
Back in the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, 'there'd be a revolution before tomorrow morning.'
Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct. In doing so, they have effectively thrown the entire theoretical basis for austerity out of the window."
(Score: 0, Troll) by maxwell demon on Tuesday March 25 2014, @08:12AM
Intentionally Opaque Underwear?
Interesting Old Utopia?
International Obscure Unicode?
Intentionally Odd Unfairness?
Incidentally Overrated Undertaking?
International Owner's Union?
Infernal Orwellian Underworld?
It would really be helpful if that acronym was expanded!
The Tao of math: The numbers you can count are not the real numbers.
(Score: 2) by c0lo on Tuesday March 25 2014, @10:52AM
What did you get?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 1) by fishybell on Tuesday March 25 2014, @03:28PM
All I heard was a whooshing sound.