babesagainstmachines

The main problem with this way of thinking is that it presumes a total collapse of the financial system, and that there would be anything to buy using your gold if this does happen. I think it's far more likely that having gold will get you killed than it being any form of financial insurance, in this eventuality. Speculation is fine though, at least it's not propping up house prices

Or it just hasn't happened yet... If you say "eventually" then you will always be right, no-one can prove you wrong

I'll put a AAA+ with a gold star rating on it ...

Corollary : Bank stocks only ever go up! Can I be Chancellor?

Your all correct, in my dizzied state of mockery at the article, I neglected to spot the extremely important names missing from the list.

Are your savings safe? Invesitgative journalism of the highest order!! Sun : Excuse me, Mr Banker. Are banks safe to put your money in? Banker : Yes, very safe. Safe as houses. Sun : Well there you are then, nothing to worry about.

How is it that price of food goes up and everyone thinks it bad. Price of accomodation goes up, and most of the population think it's party time. I used to be a socialist... but the stupid and lazy can go f**k themselves

They get shot for looting under the state of emergency. Chavicide I think is it's official term.

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Come back and say the same in 6 months... The program was called the Housing Trap, yet there was scarcely a mention of the real trap... NEGATIVE EQUITY. I'm sure they could have dug up some footage from the last crash of people saddled with high debt levels and unable to get rid of that debt due to negative equity. Other than that point, I quite enjoyed it.

I love reading these goldbug threads... I would contend that we do not have a fiat currency, since the introduction of the minimum wage. Our currency is now valued based on the minimum you can legally pay someone for an hour of their labour. This is a much better system than backing by gold or any other such stupid commodity. It cannot be hoarded, and it is a direct link to economic capacity. All we need to add is a strict non-inflationary policy which takes account of the prices of things we actually need to live... housing, energy, food, clothing, transport. The problem isn't with the currency, it's with the managament of that currency. Until the man in the street can see monetary inflation for what it is, instead of pushing for a bigger and bigger pay rise every year, this will continue. Unless cgnao is right of course, and we're already bu**ered, which is highly possible. EDIT - we also need much more debt free money in the system, which can be achieved easily enough, if someone would stand up to the banking cartel.

I sold to rent, and it was easier to cancel the cards than change the address when I moved. I don't anticipate any liquidity problems for a good few years. I kept the Egg card just for online payments.

This doesn't match my experience at all. MBNA have been sending a whole ream of cheques every couple of months urging me to get into some debt. I finally cancelled the credit card. My credit limit was 22k, which is more than my annual salary was when I got the card. My Egg card has a credit limit of 9k. My co-op card which I have also just cancelled, had a 12k credit limit. That 43k of credit with just 3 cards... which I find a bit mind boggling. I could easily have had 8 or 9 cards, I know some people who do

Is that what the Inca thought?

There's several different types of HIV test, not just non-specific antibody tests. That me be the first test that is done in some cases, but it would involve further more specific tests. For instance adult video industry workers in the US are given PCR test which looks for HIV DNA. Don't ask me how I know this, but you can call me Big John

Get out of it! There's no such thing as a white swan!

And that's just the engine oil

I agree. You can even give people all the information they need from as reuptable a source as available, and they will STILL deny that banks create money. It's laughable really

Our currency is backed by the minimum wage. It's the new gold standard. All we have to do is get it set at the correct level, and have sufficient debt free money circulating for people to save for retirement. We do need to ban central banks though. Interest rates should be set be the market based on real risks, no bailouts by BoE etc.

I love these guys : http://idler.co.uk/ I love the way that hard work has been made into a virtue. A virtue?? A folly more like...

When tiny newbuild terraces started going up on every square inch of land in my area... the least desirable area close to town.

That's a good summary. They monetize it by creating an additonal deposit, backed by your promise to pay them back. Check the Bank of England website, it's fascinating.

Because the £150k will have gone out of the bank when paid to the original house owner. The bank still has to find £150k of M4 to take out of circulation.

The bank is just acting as a trusted intermediary. It is responsible for removing the £150k of M4 when the loan is paid back. The bank is also responsibe for removing the £150k of M4 from the system if you don't pay it back. So the bank can lose, if you default on your debt. The fraud is telling you that they are lending you money, when they are actually creating the money for your use, but then charging a ridiculous rate of interest to service your repayments and risk.

What is amazing is that you can post a link to a Bank Of England document which classifies banks and building societies as money creators, and people will still say you are incorrect, or a conspiracy theorist.