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Topic History of: Who do we owe this £799billion to ?
Max. showing the last 5 posts - (Last post first)

Author	Message
BR	Yes China seems to have bought alot of debt from the USA and UK in order to buy influence in our politics. I think the USA are "more owned" by China than us - but who knows. The IMF is the body which can lend countries money if they run out. Labour had to borrow money from them in the 1970s. The stockmarket has been artificially bumped up over the last 10 days despite all the awful economic news. Must have cost the Bank of England a few billion. So expect a further stock market crash when they need the money back later in the year to pay bills and balance this massive debt. We are just circulating a small amount of money to keep the system going - it is shrinking - and our time is running out. One day something will go wrong and the whole thing will unravel - like it did in Iceland. It could be as small as a bad speech or a big bankruptacy or Swine Flu being more serious that expected. Put your money in Gold and in things which would be useful in an economic crisis. Foodstuffs ( non perishable ) generators - water filtration - renewable lighting and heating and cooking stuff. Sort of "home camping". 12Volt batteries are good plus a solar charger for the battery. Maplins do these things. I cant afford them but would buy them and leave them in my garage if I could.
Foz	Isn't China helping a lot with this? Hence you won't hear the UK gov't say a word against them.
Emma Bee	Meanwhile he's announced that he'll be taking a whole month vacation this summer. Country at war and in serious economic and social crisis. At times like this, no matter how crap the PM is, he should be at his desk setting an example to the nation. Everyone is entitled to a break now and then, but a whole month in one go, at a time like this? If he can't hack it he should make way for someone who can.
veritas	some is owed to me..I forgot to put in tax returns for years. I know I paid too much.
In The Know (sometimes)	UK debt (thanks, Gordon) is now a record 799 billion pounds - but who exactly do we owe this money to? Is there a "superbank" where countries deposit surplus cash to lend out to bankrupt countries like us?