Green New Deal Bonds Must Pay 3% – Because That’s Not Available Elsewhere

Richard Murphy, the would be architect of the Green New Deal, tells us that the whole thing could and should be financed by Green Bonds which will pay 3% interest. Because that’s just not available anywhere else.

But suppose the Green New Deal was funded by Green ISAs, backed by a Green Investment Bank and paying 3% a year – which is almost impossible to get anywhere, but which has almost no net cost to the government as a means of funding right now.

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Mozambique’s Tuna Bonds Are Coming Home To Roost

One of the most outrageous, barefaced even, bits of stealing from the public purse was the story of Mozambique and the Tuna Bonds. The country borrowed money on the international markets to buy boats to go fishing for tuna. And why not? There’s tuna in the territorial waters, running a canning operation isn’t particularly high tech.

Well, one reason is perhaps don’t get the government doing it. If it’s a good idea, if there’s a profit in it, then it’s possible to define those fishing rights and then put them up to tender.…

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Put Not Your Trust In Government – They’ll Play You If They Can

A useful and interesting little example of how we should not put our trust in governments. Especially about money, specifically here about lending our money to them but the general point of not trusting them concerning money is important. Because they’re somewhere between cynical realists on the subject and lying b’stards. Our example today being inflation linked interest rates on loans to the government:

Half a million savers desperately trying to protect their cash from the effect of inflation will see their returns slashed in the new year.

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Turkey’s Proof That Speculation Is A Zero Sum Game

A useful little proof from the current Turkish shenannigans that speculation, as speculation itself, is a zero sum game. Whatever is made by one participant on one side of the ledger is lost by another over on the other side of that same bet. At which point we can have two views about it all, something basically harmless that we should leave alone or perhaps something wasteful as it has no use and thus something we should limit or ban.…

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