| Money, what is it? 22:30 - Jul 5 with 4093 views | scottishjack |
I don't mean the £20 in the back pocket type of money, but the money that the banks, governments, IMF etc. talk about... I'm lost? There isn't enough produce / money in the world to cover the amounts that they talk about on the news surely?
For example, they talk about "Trillions" of pounds??? Surely I could buy just about everything (not anything!) if I had a spare couple of Trillion pounds down the back of the sofa....
In conclusion, is money f**ked? |  | | |  |
| Money, what is it? on 23:42 - Jul 5 with 4049 views | Jack_Meoff |
I'm curious to this too. As far as I can make out we use a fiat currency backed by absolutely nothing but our consent to be enslaved to it. We haven't been on a gold standard since 1931. (Not that gold has any intrinsic value bar our belief it does.)
Our national 'debt' (currently £1.5 trillion) originated in 1694 as a £1.2 million loan to William III from Charles Montague (to contribute to the then war against France). This also led to the formation of the Bank of England.
For further info on money (USA side) Google 'Woodrow Wilson Federal Reserve Act 1913' and for a bit of background on the formation of the Federal Reserve Google 'Jeckyll Island meetings Federal Reserve'. Hours of fun. The dollar is the planet's reserve currency so this is fairly important. Before 1913 there was no income tax in the US. Now their national debt is approaching $14 trillion.
To who are these monies owed? And how can they ever be paid back?
Money is the ultimate form of control. Ever get the feeling we're all being taken for idiots? [Post edited 5 Jul 2015 23:48]
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| If you want a vision of the future, imagine a boot stamping on a human face--forever. |
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| Money, what is it? on 23:49 - Jul 5 with 4034 views | ScoobyWho |
Is there an amount in zillions or does it just go to billions ? |  |
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| Money, what is it? on 00:20 - Jul 6 with 4001 views | Jack_Meoff |
| Money, what is it? on 23:49 - Jul 5 by ScoobyWho |
Is there an amount in zillions or does it just go to billions ? |
Current global debt is around $200 Trillion. Global debt. How does that work? | |
| If you want a vision of the future, imagine a boot stamping on a human face--forever. |
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| Money, what is it? on 00:51 - Jul 6 with 3976 views | PozuelosSideys |
| Money, what is it? on 23:49 - Jul 5 by ScoobyWho |
Is there an amount in zillions or does it just go to billions ? |
Well at the end of last week the Chinese markets tanked and lost "trillions".. think that was USD too.
For the OP, dont mistake physical cash for numbers which just exist on screens. For instance, if business A owes business B $100bn and business B owes business C $100bn, then that is $200bn. That exists nowhere but within the accounting. The problem becomes liquidity when C cant pay B who in turn cannot pay A...Its one big stack of cards. [Post edited 6 Jul 2015 0:53]
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| Money, what is it? on 05:48 - Jul 6 with 3916 views | builthjack |
If all these countries owe these vast amounts of money, surely there are countries that they are owed to, making them super rich? |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Money, what is it? on 07:48 - Jul 6 with 3863 views | Watchman |
Because money does not exist. Bank notes are promissary letters, a bank note says ' i promise to pay the bearer' the only time that note will be truly redeemed if it it goes to a bank.
Banks use fractional lending it is a purely notional form of lending where banks can lend to a certain % of what they have on deposit, so you could have banks simply lending to themselves money that does not exist. That is why banks/govts fear a run on a bank as people quickly find out there is actually far less money in circulation than what is believed |  |
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| Money, what is it? on 09:04 - Jul 6 with 3809 views | Chief |
at a national level, all it is is numbers on a screen........ |  |
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| Money, what is it? on 10:44 - Jul 6 with 3761 views | controversial_jack |
| Money, what is it? on 09:04 - Jul 6 by Chief |
at a national level, all it is is numbers on a screen........ |
Numbers that are just plucked out of the air. When you go to a bank for a mortgage, they give you the money, which they never had in the first place. You actually create the debt when you sign for the loan and pay back with interest which they didn't give you in the first place. |  | | |
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| Money, what is it? on 12:02 - Jul 6 with 3715 views | sherpajacob |
| Money, what is it? on 05:48 - Jul 6 by builthjack |
If all these countries owe these vast amounts of money, surely there are countries that they are owed to, making them super rich? |
China |  |
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| Money, what is it? on 12:08 - Jul 6 with 3701 views | sherpajacob |
| Money, what is it? on 23:42 - Jul 5 by Jack_Meoff |
I'm curious to this too. As far as I can make out we use a fiat currency backed by absolutely nothing but our consent to be enslaved to it. We haven't been on a gold standard since 1931. (Not that gold has any intrinsic value bar our belief it does.)
Our national 'debt' (currently £1.5 trillion) originated in 1694 as a £1.2 million loan to William III from Charles Montague (to contribute to the then war against France). This also led to the formation of the Bank of England.
For further info on money (USA side) Google 'Woodrow Wilson Federal Reserve Act 1913' and for a bit of background on the formation of the Federal Reserve Google 'Jeckyll Island meetings Federal Reserve'. Hours of fun. The dollar is the planet's reserve currency so this is fairly important. Before 1913 there was no income tax in the US. Now their national debt is approaching $14 trillion.
To who are these monies owed? And how can they ever be paid back?
Money is the ultimate form of control. Ever get the feeling we're all being taken for idiots? [Post edited 5 Jul 2015 23:48]
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The dollar is the world reserve currency because all oil sold must be in U.S. Dollars. Helping maintain the value of the dollar
In 2002 Iraq said they would start accepting payment for oil in euros.
You know what happened next. | |
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| Money, what is it? on 12:54 - Jul 6 with 3659 views | controversial_jack |
| Money, what is it? on 12:08 - Jul 6 by sherpajacob |
The dollar is the world reserve currency because all oil sold must be in U.S. Dollars. Helping maintain the value of the dollar
In 2002 Iraq said they would start accepting payment for oil in euros.
You know what happened next. |
Putin's aim is to sidestep the Petrodollar. There are already signs this is happening. The Brics nations are forming their own bank, The Shanghai cooperation agreement is another, and some countries have paid for oil in currency other than the dollar
As the a previous poster said, Iraq tried to bypass the dollar, so did Gadhafi and look what happened to them. The difference this time is that Russia is a very different kind of adversary to Iraq and Libya | | | |
| Money, what is it? on 13:36 - Jul 6 with 3623 views | Neath_Jack |
What is it? It's the route of all evil is what is is, along with religion. |  |
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| Money, what is it? on 13:43 - Jul 6 with 3610 views | Highjack |
It's just an ethereal mist swirling around us. |  |
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| Money, what is it? on 13:46 - Jul 6 with 3604 views | sherpajacob |
| Money, what is it? on 13:36 - Jul 6 by Neath_Jack |
What is it? It's the route of all evil is what is is, along with religion. |
Money is not the root of all evil. The love of money is. | |
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| Money, what is it? on 14:12 - Jul 6 with 3577 views | Neath_Jack |
| Money, what is it? on 13:46 - Jul 6 by sherpajacob |
Money is not the root of all evil. The love of money is. |
The love of money is not the root. That is a by-product of the existence of money. | |
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| Money, what is it? on 18:08 - Jul 6 with 3470 views | sherpajacob |
| Money, what is it? on 14:12 - Jul 6 by Neath_Jack |
The love of money is not the root. That is a by-product of the existence of money. |
Interesting concept.
So if it is money itself (an inanimate object) that is evil as opposed to human beings attitudes towards it.
What do you suggest we use instead, barter?
Next time down the liberty, when i want a programme I'll give the seller 3 eggs.
A replica shirt?, that will require me to paint huw jenkins fence.
I want to make a donation to swans aid? | |
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| Money, what is it? on 18:13 - Jul 6 with 3467 views | ImAlrightJack |
It's a "Gas" isn't it?. | | | |
| Money, what is it? on 18:27 - Jul 6 with 3447 views | Neath_Jack |
| Money, what is it? on 18:08 - Jul 6 by sherpajacob |
Interesting concept.
So if it is money itself (an inanimate object) that is evil as opposed to human beings attitudes towards it.
What do you suggest we use instead, barter?
Next time down the liberty, when i want a programme I'll give the seller 3 eggs.
A replica shirt?, that will require me to paint huw jenkins fence.
I want to make a donation to swans aid? |
I suggest we use kittens and dwarfs. | |
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