Licence to print money denied
His Majesty’s Offshore Bankers have pooh-poohed suggestions they’re pumping the constipated economy with worthless paper.
“It’s absurd to say we’re feeding people laxatives,” said Fulton Cable, the HMOB deputy currency monitor. “Our loosening policy helps stop bank runs.”
Money was being supplied proportionately, Mr Cable said, not to “make something out of nothing.”
He dismissed Internet rumours that banknotes were just fancy IOUs, and only had value because HMOB decreed it.
“The notion we have ever had licences to print money is as baseless as our fiat currency,” he said.
