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Your assumption is incorrect.

No, not like Zimbabwe.

Why is any of that relevant to the UK which has a currency issuing govt with it's own fiat, floating currency?

I have.

What's it got to do with the IMF? If they are that bothered tell them to hand over the £5bn(ish) they owe to the NLF and the £2bn(ish) they owe the Exchange Equalisation Account.

Yeah, the BoE releases, particularly their Quarterly Bulletin can be very informative can't they?

I think you've misunderstood that section. The idea was QE would 1. raise asset prices - check, done that, then 2. people holding those assets would think everything is great and automatically go out and start spending - nope, didn't happen. It was a truly dreadful policy, a pathetic attempt...

Ah, denso, wrong again. But thanks for playing, keep trying, eh. Can't be wrong all the time, can you?

Nope. He was wanging on about: If you understand how fiat economies work then you wouldn't be wanging on about that sort of thing, it's pure bs. So I asked them what their understanding of how fiat economies run and he got all butt-hurt. but hey, seems par for the course on here, lol.

There's a clue in the first sentence - Monetary Policy Committee. The WGA explains that QE is not the creation of new money: Once intra-government transactions are eliminated, the scheme represents an exchange of gilts (liabilities of the National Loans Fund) for central bank reserves...

Opinion? who asked about opinion? See posts 61 67 & 84 in this thread. As I said, get a grown up to help you read and understand them

You really seem to have a problem with comprehension. Here's my reply, again, in its simplest form. You don't seem to be able to understand it so I suggest you get a grown-up to help you.

Yep, both printed and digital. Sort of, the government promises to redeem it at par. So, if you take your tenner to any bank they will happily swap it ... for another tenner or two fivers etc.

Ah, dunso, wrong again mate.

Nah, QE is a truly dreadful policy but it has nothing to do with money creation, it's a simple asset swap. Don't believe me? No problem, check the WGA 2011-2012 ... no-one on here will. Thes rest of it looks like you've spilled your scrabble game on the table.

Well, you've had a couple of chances to back up your position and you haven't taken either. If you could, you would have. I'll let people make their own decisions. Want to have a discussion about finance, banking deposit insurance etc.?

What did your buddy write? Oh yeah ... As I said, we can come back later to find out who knows what about finances, banking etc Later, if you like, we could even have a discussion whether fiat economies 'work for the majority' or not. However, for now, stop p!ssing yourself (maybe seek some...

Well, we can come back to who knows what about finance later and even maybe discuss deposit insurance. But, instead of p!ssing yourself, why not stop dodging my point and explain how you think fiat economies, like the UK, work?

Ok, here's a simpler answer for simpler folk. What's my understanding of fractional reserve banking? It's not a thing in the UK. Commercial banks are not constrained in any way by the amount of reserves they have on deposit with the BoE. Simple enough for you?

Decided to have lunch later. It's not obvious what you meant, you like the dodging accusation thingy here dontcha. I asked for clarification as many people conflate capital requirements/banking regs with bank reserves. They are not the same thing. Let's persevere. Here's my answer to your...