The British government owes over £920 billion pounds to its creditors, and this amount is growing by half a billion pounds every day. Because politicians like spending (because voters like it) but don't like taxing (because voters don't like it), they fill the gap with borrowing, which immoral people lend to them on the basis that they trust that the British government will go round to people's houses with clubs, at some point in the future, and beat this money out of the people within its territorial control.
What these immoral lenders of money to the British government don't realise, is that although the British government may be borrowing in the name of the people under its cosh, those people did not agree to this borrowing, and as-yet-unborn children certainly did not agree to this borrowing. And there will come a point where all of these people will reject the cosh, the club, and the gun of government, and simply refuse to be bled white to continue making good on politicians promises to spend money on worthless projects which produce nothing of any value. Indeed, many of these projects (such as the ID card scheme) destroy value.
This then is AngloAustria's message to those people who continue propping up the British government by lending money to it. Repudiation will be the name of the game. You are not going to get your money back. The best you will get back is worthless paper. Personally, I prefer repudiation. It has a cleaner feel.
And I cannot understand why most (often libertarian) commentators think it is terrible if the British government defaults on its debt. I think it will be brilliant. For once, they will then be forced to live within their budget. And nobody will lend money to them for decades, perhaps centuries. Every promise they then make will have to be paid for in the present, and not paid for with promises pushed off into the future. As a result, government will shrink immeasurably as voters protect their pockets from the grasping useless dead hand of government.
Repudiation. It's time is coming.
Bring it on.