Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia | WHAT REALLY HAPPENED


Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia

Rather than issuing “sovereign debt” – federal bonds indebting the nation to pay at interest in perpetuity – the government through the Commonwealth Bank issued “sovereign credit,” the credit of the nation advanced to the government and its constituents.

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