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I only skimmed this briefly (no time), but things operating as suggested (eg the banks loaning money they do not have) would fall into the category of fraud IMO.

Whether that's currently legal or not is another matter that I cannot comment on.



I'm going to have a hard time understanding how it's fraud if it's legal.


That document is published by the Bank of England. I'm not sure what higher authority would convince you.


I never said it was false; only that it suggests fraud.




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