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Bank of England -


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According to Dan Snow, the B of E originated in 1685, and was created to pay for the building of a large Royal Navy. To raise the "1.2 milion. investors were promised a return of 8% - the Navy was built - our trade was protected and taxed - and revenues were used to pay out to investors. This huge increase in ship building stimulated the creation and expansion of new industries and employment, the number of sailors quadrupled and with it a demand for food and supply, that increased agricultural output by a third. Sounds a bit like Keynesian economics to me?! :wink: PS - and of course the National Debt was created! :lol:

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