Can a sovereign government run out of knighthoods?

[James Keenan]

On Richard Murphy's blog this morning, a fellow named Tom Butcher wrote with respect to a monetarily sovereign government's ability to meet all obligations denominated in the currency it issues:

I think of it in terms of knighthoods.

The King doesn’t need to ask anyone to hand in knighthoods before giving the next lot out. He is THE source of ALL knighthoods. No one ever asks him ‘where are you going to get the knighthoods from?’ It is obvious even to stupid people that this is a nonsense question. It may be that the King issues too many knighthoods over time and they are considered a lesser prize, but that has nothing to do with his ability to issue them in the first place.

Then imagine that for every knighthood that the King issued, he committed to writing an email of congratulation to the holder twice a year. Again no-one in their right mind would be asking him ‘where are you going to get the emails from?’. Because even stupid people know that as long as your computer and server are working, you can write as many emails as you wish. The only thing you can run out of is people to send them to.

But reform* are asking us to believe that not only can the King run out of knighthoods, but can run out of emails too.

Its insanity gone mad.

* Nigel Farage's right-wing Reform Party.