Friday May 29, 2020

Prolonging our debt agony

The government is trying to put off the inevitable by continuing to borrow

3rd July, 2010

In 989 AD, Ethelred the Unready, the Anglo-Saxon king of England, introduced a deeply unpopular tax called Dangeld (Danish gold).

These were coins that Ethelred minted from the tax and they were referred to as Dangeld or ‘Danish money’ because of the powers the king ascribed to these coins.

Having minted the new coins, Ethelred then waded into the Wash off the Norfolk coast and proceeded to throw the money into the sea.

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