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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (65962)	5/5/2008 5:20:57 PM
From: TimF	Read Replies (1) \| Respond to of 90947

Consols (originally short for consolidated annuities, but can now be taken to mean consolidated stock) are a form of British government bond (gilt), dating originally from the 18th century. Consols are considered one of the rare examples of an actual perpetuity, although they may be redeemed by the issuer... en.wikipedia.org OK they are a bond with no expiration date. They are debt because they are a bond, a form of debt security which represents a contractual debt agreement. What's your point?