Thread: 'Base interest rate' and capitalism
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Unread 15 May 2007, 10:55   #12
Nodrog
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Re: 'Base interest rate' and capitalism
Quote:
Originally Posted by All Systems Go
I don't understand it. Explain it to me.
What is a pound? What gives a piece of paper its value? Banknotes say on them that they are issued by the bank of england, so if you took your a 10 pound note to the bank of england and asked to redeem it, what would they give you in exchange?
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