The funny side of quantitative easing

The anniversary of Weimar Germany seems as good a time as any to rehash an old joke about an old joke.  This one is set in ‘recessionary times’ during the middle ages. People are desperate for new ways to drum up business. In one village the goatherd, Bob, isn’t very happy. He sold a goat to Bill, who is licensed to print money. He walks into his office.

Bob: I want my goat back. You gave me ‘One Goat Pound’, and I believed that this pound really was worth one goat.

Bill: Well it was at the time of the exchange. So, what’s the problem?

Bob: Well, you then printed more ‘Goat Pounds’ without any goats actually passing hands, and then you used them to pay off your debts to Jim, who you ‘ad two chickens off of, and Ivor who had given you his entire turnip crop.

Bill: And very pleased they were too. Business is moving again as a result. Ivor and Jim have been out buying bread and the like, and Ed the baker bought more flour. And so on… People have money in their pockets again.

Bob: And you are doing very nicely out of it too, I bet. But our pound notes won’t buy goats anymore…What if I’d done the same to you and started printing goats? You wouldn’t have been happy.

Bill: Well, you can’t print goats, so piss off.

Bob: Bill, I took your ‘Goat Pound’ on trust. And you have broken that trust. And now I have lost my goat.

Bill: Well, you know what they say, don't you? Easy come, easy goat.



(Please note, this is not the anniversary of Weimar Germany. If you are approached by anyone claiming otherwise, please call our hotline and leave a message after the tone.)