Another conclusion did I reach:
As the Bank of England, by way of Quantitative Easing, purchases, among other assets, large amounts of Government bonds from private companies, it indirectly alleviates the State's liabilities towards these bonds. Indirectly, because the Mastricht Treaty does not allow money printing to DIRECTLY reduce the annual budget deficit or the overall National Debt.
In other words, the BoE cannot purchase Government issues directly from the State.
However, the Bank of England DOES keep these bonds that it has purchased (and will purchase?) from private holders, and can sell them in the future.
Does this not mean, therefore, that the State is massively indebted towards the bank of England?
Actually, yes!
So where do all our national debts and private company deficits (company pension schemes) start, and where do they end?
It appears they go round in circles, snow-balling.
Yes, it appears that by way of company pension schemes, many a company in the UK is involved in a massive pension deficit.
Well, teach me more, I've studied enough for tonight!
