I believe that's what was meant by "fake". In other words, inauthentic.
As far as the transformation from "private institution" to central bank, are you suggesting that this was a form of Open Market Operations?
This isn't what happened. They took money from their reserves and spent it.
> As far as the transformation from "private institution" to central bank, are you suggesting that this was a form of Open Market Operations?
Hu? No, the Bank was nationalised. I don't really understand what you mean or are trying to say.
I believe that's what was meant by "fake". In other words, inauthentic.
As far as the transformation from "private institution" to central bank, are you suggesting that this was a form of Open Market Operations?