Monday, 29 June 2009

A quantitative easing alternative

The government has finally caught on. Despite the swish graphics on BBC and ITN News, no-one understands quantitative easing. Ex nihilo, deposit multiplication - nope, it means nothing.

So instead, the clever people at the Royal Mint have made 20p coins actually worth £50. How did they do this? Well, tens of thousands of 20ps have entered circulation with no date on them. They've instantly become a collector's item.

This is undoubtedly good news for the economy. People are prepared to pay for money. Purchasing for one of these coins would set you back 250 times its actual value.

I live in hope that I will be given one with my change on my next visit to Amin's Hamlets Express. Then I shall go and spend that £50, and our economy will be saved.


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