Dimple Solution - Give Everyone £500,000 Cash

[Guest casaloco]

How about this for a solution:

The bank of england secretly prints £90 billion in cash, and then in one week, in one big push, gives each and every person in the uk £300,000 in cash.

Each person then pays their debts off. Obviously any cash left over after all the debts were paid would be worthless.

The banks would have to accept the money and clear the loans. Suddenly the entire population is debt free. All the mega rich people with millions in the bank find their no more wealthy than the checkout girls at asda.

Our government could also pay off any international debts it has.

The banks can't refuse the money and can't refuse to clear the loans, and any changes to the terms of a loan requires the banks to give 30 days notice.

At the end of it you just declare the bank of england bankrupt. (Which it already is anyway!) Then we just issue a new currency "Freedom Pounds" and start again.

Lets face it, after the big crash our money will be worthless, at least this way the mega rich who basically live off of the work of others will lose all their cash, and at least we wont be saddled with debt forever.

Yes, internationally, everyone will be pi$$ed at us for about 18 months, but being a fresh clean economy with no debts, they'll quickly change their minds. After the coming crash they'll avoid us like the plague for a couple of years anyway.

Apart from the possiblity that the americans will invade us, I can't see any downsides compared to what is going to happen anyway.

Even if we were shut out by the rest of the world for a few years we have enough farmland and oil and coal to see us through... we will be no worse off than what is going to happen in the crash anyway.

[Guest casaloco]

Lots of people and read it, and no-one can deny the logic!!!

[AvidFan]

And then all of a sudden, the next generation of people want houses and the current generation can sell up their 500K country piles and spend their dosh into the economy like there's no tomorrow... Hey presto, hyper inflation.

[margesimpson]

How about this for a solution:

The bank of england secretly prints £90 billion in cash, and then in one week, in one big push, gives each and every person in the uk £300,000 in cash.

Each person then pays their debts off. Obviously any cash left over after all the debts were paid would be worthless.

The banks would have to accept the money and clear the loans. Suddenly the entire population is debt free. All the mega rich people with millions in the bank find their no more wealthy than the checkout girls at asda.

Our government could also pay off any international debts it has.

The banks can't refuse the money and can't refuse to clear the loans, and any changes to the terms of a loan requires the banks to give 30 days notice.

At the end of it you just declare the bank of england bankrupt. (Which it already is anyway!) Then we just issue a new currency "Freedom Pounds" and start again.

Lets face it, after the big crash our money will be worthless, at least this way the mega rich who basically live off of the work of others will lose all their cash, and at least we wont be saddled with debt forever.

Yes, internationally, everyone will be pi$$ed at us for about 18 months, but being a fresh clean economy with no debts, they'll quickly change their minds. After the coming crash they'll avoid us like the plague for a couple of years anyway.

Apart from the possiblity that the americans will invade us, I can't see any downsides compared to what is going to happen anyway.

Even if we were shut out by the rest of the world for a few years we have enough farmland and oil and coal to see us through... we will be no worse off than what is going to happen in the crash anyway.

Are you 15?

[Guest casaloco]

Are you 15?

29.

Think about it.... would it be any worse than the coming economic collapse?

At least people wouldnt have and debts any more.

You'll think it's a stupid idea, but if you accept that house prices are about to cause an economic collapse, you'll find it hard to find a good argument to the idea.

Edited June 15, 2007 by casaloco

[mrhappy]

29.

Think about it.... would it be any worse than the coming economic collapse?

At least people wouldnt have and debts any more.

You'll think it's a stupid idea, but if you accept that house prices are about to cause an economic collapse, you'll find it hard to find a good argument to the idea.

google "Weimar Republic"

[Bearback]

This is inflating the money supply on a scale that is seen in places like Zimbabwe.

[Guest casaloco]

Yup. Were f*cked ayway, we might as well be f*ckd and debt free.

[Starcrossed]

Douglas Adams wrote about a planet where leaves were made the legal currency "because there were lots of them."

Everybody thought they were immeasurably rich until they realised that it would cost a forest to buy a peanut.

Ergo, no free lunch.

[nick22abdn]

29.

Think about it.... would it be any worse than the coming economic collapse?

At least people wouldnt have and debts any more.

You'll think it's a stupid idea, but if you accept that house prices are about to cause an economic collapse, you'll find it hard to find a good argument to the idea.

How exactly were you brought up? How is a good economic solution making those who have maxed out credit cards that they can't afford and bought designer clothes they dont have the money for debt free. Meanwhile, those who have worked hard and saved are put in the same economic position as muppets.

The notion that everyone is or should be equal is inherently flawed. If everyone started on a level playing field those who are currently rich would be rich again within 10 years and uneducated neds would still be claiming the dole. You seriously think that people like Richard Branson, Duncan Bannatyne etc wouldn't quickly amass fortunes and city workers in the financial secotrs wouldn't be earning more than the majority in a short time frame? The poor are poor because they are uneducated, lazy or just born stupid.

An alternative solution to boost Britain's economy - stop paying benefits to scrounging scum - the government can employ them at £1 per hour to boost manufacturing and make us competitive once again in this sector globally. If those who did not have alternative emplyment refused to turn up and work, they would have no money and wouldn't be able to eat - a choice made by themselves. Why should I pay for teenage parents cigarettes?!!

[DabHand]

I dunno, after trying to make something of my savings and investment, l find instead l could have spent the last decade blowing it on idiot powder and chucking my spuff up a multitude of pre-paid mucky birds' chuffs. And either way STILL end up in the same position l would be murderously angry, as l would regard it as a loss of 10yrs of my life l would have spent differently, probably as a steaming London tosser.

Sure people above me would be levelled, but l dont give a crap about them, l give a crap about me and the loss of any advantage over anyone else l may have built up from my life choices.

Edited June 15, 2007 by DabHand

[Bearback]

How exactly were you brought up? How is a good economic solution making those who have maxed out credit cards that they can't afford and bought designer clothes they dont have the money for debt free. Meanwhile, those who have worked hard and saved are put in the same economic position as muppets.

The notion that everyone is or should be equal is inherently flawed. If everyone started on a level playing field those who are currently rich would be rich again within 10 years and uneducated neds would still be claiming the dole. You seriously think that people like Richard Branson, Duncan Bannatyne etc wouldn't quickly amass fortunes and city workers in the financial secotrs wouldn't be earning more than the majority in a short time frame? The poor are poor because they are uneducated, lazy or just born stupid.

An alternative solution to boost Britain's economy - stop paying benefits to scrounging scum - the government can employ them at £1 per hour to boost manufacturing and make us competitive once again in this sector globally. If those who did not have alternative emplyment refused to turn up and work, they would have no money and wouldn't be able to eat - a choice made by themselves. Why should I pay for teenage parents cigarettes?!!

It would probably be better to employ the idiots at 1 pound per hour in the service sector. Our manufacturing industry is now too advanced for scrounging scum.

Edited June 15, 2007 by Bearback

[nick22abdn]

It would probably be better to employ the idiots at 1 pound per hour in the service sector. Our manufacturing industry is now too advanced for scrounging scum.

Very true!!!

[margesimpson]

29.

Think about it.... would it be any worse than the coming economic collapse?

At least people wouldnt have and debts any more.

You'll think it's a stupid idea, but if you accept that house prices are about to cause an economic collapse, you'll find it hard to find a good argument to the idea.

I don't think HPC will cause an economic collapse and certainly not one that would equate to the complete wipe out your "dimple idea".

I'm assuming you've been enjoying a rather large liquid dunch today.

[huw]

Try Harare, if that's the sort of scenario you want.

As a side-benefit, I doubt UK debt collection agencies have offices there

[Peter & The Wolf]

google "Weimar Republic"

Google "Spain", it's easier to spell and it's more recent.

4 times between 1992-1995.

[MarkG]

The bank of england secretly prints £90 billion in cash, and then in one week, in one big push, gives each and every person in the uk £300,000 in cash.

I see maths isn't your strong point.

300,000 x 60,000,000 = 18 TRILLION pounds.

That's, what, about fifteen years of GDP?

[Guest casaloco]

I see maths isn't your strong point.

300,000 x 60,000,000 = 18 TRILLION pounds.

That's, what, about fifteen years of GDP?

I worked it out in Excel. Bloody Microsoft... thought the figure seemed low.

I know the damage it would do to the economy, but looking at the figures we're lined up for a complete economic collapse anyway.

As I keep saying... if were going to have a collapse it'd be better if we didn't all have huge debts!!!

Edited June 16, 2007 by casaloco

[Rave]

I don't have huge debts anyway, and it doesn't bother me if people who were stupid enough to amass them get screwed.

[Guest Bart of Darkness]

Douglas Adams wrote about a planet where leaves were made the legal currency "because there were lots of them."

Everybody thought they were immeasurably rich until they realised that it would cost a forest to buy a peanut.

Yup. Then they started burning down the forests to control their rampant inflation problem.

You won't be too surprised to lean that the planet turned out to be Earth.

[cells]

Lots of people and read it, and no-one can deny the logic!!!

no it will not work

for every pound of debt there is someone with a pound of savings, a simple example is you buy a house via a mortgage for 100k and this money is given to the person you bought it off, who then buys a house of another person ect ect, who buys a car who buys... balh blah blah someone ends up with that money. you have debt but someone has the money

basically your idea just steals from those who are left with the paper money and gives to those in debt

pensions would be worthless, cash and savings would be worthless, bonds will be worthless ect

it would also not effect the rich/very rich because they are asset rich not paper money rich, im sure bill gates doesn’t have $50 in cash but might have them in stocks / property / gold / which will not be affected by your idea

the only good thing might be it would screw over foreigners who hold our pounds, so that wouldn’t be bad

but if what you said did actually happen, i would expect at lest half a million to die in this country from that action.

[cells]

I worked it out in Excel. Bloody Microsoft... thought the figure seemed low.

I know the damage it would do to the economy, but looking at the figures we're lined up for a complete economic collapse anyway.

As I keep saying... if were going to have a collapse it'd be better if we didn't all have huge debts!!!

a economic collapse by definition would wipe out all debt/savings

so your idea is a collapse

[Dr Doom]

Sounds like a good idea to me.

Only problem is those pesky money masters.

JFK proposed something not altogether dissimilar, and was killed.

Lincoln also got involved in producing debt-free money, and was killed.

Etc, etc... the list goes on and on.

[Guest Magrathea]

Sounds like a good idea to me.

Only problem is those pesky money masters.

You mean the people with savings?

[Dr Doom]

You mean the people with savings?

Not really.

But you are right, such a plan would devalue any cash savings that anyone has,

but not many people have savings nowadays do they?

So ultimately such a plan would be ultimately good, because it would shift

wealth and power away from the banks. Assuming we can then stop them from

creating more money, as debt.