Wednesday, 11 June 2008


Making a step away from technology and environment I want to tell the world how strange is that Prince Charles paid £453.15 to the Clothiers Company of Worster this week. This is the actual amount of debt left by King Charles II for the uniforms for his army in 1651. If all of us could "honour" our debts in the same way we would certainly be as rich as the Royal family! This amount's appreciation during the past 360 years makes its real value today worth something around £47,518.07 using the retail price index. (try to measure it yourself with the online calculator on a great site "Measuring Worth"). It is somewhat funny to read that the Prince "was glad he didn't have to pay back any interest" - it should be inflation plus interest to make it a proper repayment, Your Royal Highness! And hold on to your chairs now, because the real value of this debt taking into account retail price index changes and the long-term interest rates (please, note, not the commercial high-street rates) is.... IS 31 billion 972 million 389 thousand 2 hundred and 22 pounds!! The interest only calculation still gives an impressive 291,599,676.87 pounds. It shows how important it is to clear off debts on time...


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