Jump to content
House Price Crash Forum

Setantii

Members
  • Posts

    226
  • Joined

  • Last visited

Posts posted by Setantii

  1. Can anyone explain to me why the Economic Terrorism that Bankers have carried out whilst hiding their shady dealings - are only described by Gordon Brown as "Irresponsible" and by their Banking Guru's as "Mistakes"

    Why are they all not locked up under guard in Guano Bay-watch?

    They are simple terrorists - even Muslim haters of the West could not have conceived such underhand tactics

    DISCUSS> . . . .

    edit spellin

    Sounds a reasonable point of view to me.

    :ph34r:

  2. I suspect that some on this forum would welcome this outcome, I am talking about the full 'tinfoil hat' situation where banks fail, money becomes worthless, there is rioting on the streets, shops stop trading and there is no food available, subsistence living becomes the only option, power supplies fail etc etc?

    I am curious - does anyone think this would be a good thing?

    If I'm brutally honest I'm torn between conflicting emotions.

    On one hand I'm fearful of a full scale breakdown of capitalism and the consequences it would bring because I have four kids to care for.

    On the other hand, apart from my mortgage (a modest £30,000) and a car loan that I paid off I've never been in debt. However I'm almost sure that the company I work for is going bust soon so I'll be out of a job and who's going to bail me out? The only savings I had we're 100 B&B shares I was given when they turned into a bank and they've gone up in smoke (I wished I'd just sold them and blown the money like my mates did). So this part of me would see a global crash as an economic equalizer that might eventually bring about a more egalitarian society.

  3. So what we have is a triple whammy -

    1- The government is borrowing half a trillion pounds on your behalf at interest, to give to banks so they can lend it out back to you, at interest.

    2- Banks are now charging you to put money in their bank (IRs lower than inflation) even though they're thieves who keep losing peoples money.

    3- All this extra money is causing inflation, which is stealing your wealth from you.

    Basically we're all been robbed blind. No doubt I've missed some other thieving aspect of this too.

    So what can we do? Call the police? Cry? Withdrawal all our money from the banks tomorrow and have a big 'destroy the banks' party?

    I'm so ******ed off with it all. A big 'destroy the banks' party sounds good. Anybody up for a riot? :ph34r:

  4. Both In the US and now here, the focus is totaly on getting the lending going again- note that this is always phrased as getting credit flowing again- it would be just as accurate to say it's about getting debt flowing again- but this lacks a certain positive gloss and would perhaps lead to a train of thought that nobody wants to get onboard of.

    Nice piece of discourse analysis there mate.

  5. The next series will be about such things as country places on the tops of hills, oh look, this one is good because it has its own private well, wind turbine and battlements, and good fields of view (and fire) from all the windows!

    :lol::lol::lol: Some funny comments on this thread but this one's a classic.

    You HPC guys help me smile in the face of adversity.

  6. Recently I've felt a bit like someone watching a volcano going off thinking "Wow look at that, I knew it was gonna blow!" but suddenly realising I'm about to be fried alive by a pyroclastic flow!

    :lol:

    To be honest mate I feel the same. I've been warning my friends and work colleagues about the coming crash for ages yet it's aproaching so fast I'm completely unprepared myself!

  7. Ok, I'll admit that I'm not very clued up on 'derivatives' and I can't find any comments on the subject from the major news outlets. However, if the claims in this six month old article are true then the housing bubble could be the least of our worries.

    SNIP -

    A massive new derivatives bubble is driving the domestic and global economies, a bubble that continues growing today parallel with the subprime-credit meltdown triggering a bear-recession.

    Data on the five-fold growth of derivatives to $516 trillion in five years comes from the most recent survey by the Bank of International Settlements, the world's clearinghouse for central banks in Basel, Switzerland. The BIS is like the cashier's window at a racetrack or casino, where you'd place a bet or cash in chips, except on a massive scale: BIS is where the U.S. settles trade imbalances with Saudi Arabia for all that oil we guzzle and gives China IOUs for the tainted drugs and lead-based toys we buy.

    To grasp how significant this five-fold bubble increase is, let's put that $516 trillion in the context of some other domestic and international monetary data:

    U.S. annual gross domestic product is about $15 trillion

    U.S. money supply is also about $15 trillion

    Current proposed U.S. federal budget is $3 trillion

    U.S. government's maximum legal debt is $9 trillion

    U.S. mutual fund companies manage about $12 trillion

    World's GDPs for all nations is approximately $50 trillion

    Unfunded Social Security and Medicare benefits $50 trillion to $65 trillion

    Total value of the world's real estate is estimated at about $75 trillion

    Total value of world's stock and bond markets is more than $100 trillion

    BIS valuation of world's derivatives back in 2002 was about $100 trillion

    BIS 2007 valuation of the world's derivatives is now a whopping $516 trillion

    SNIP

    Is there any truth behind these claims?

  8. What's interesting is the fact that despite having an abundance of tv channels I have yet to see a single programe on the fractional reserve system- ever. Despite the fact that it forms the basis of our financial system- it's odd.

    If you stood in the high street of the average town in the uk and asked each person who passed what the fractional reserve system is, you would have to kiss a hell of a lot frogs before your prince came along.

    I've often wondered the same thing myself.

    Another thing, why aren't kids taught the fundamentals of Capitalism at school? Are they afraid of the Proles discovering how they are exploited by the system?

  9. No, one can determine property based on facts - we look at who took what raw materials and turned them into something else and then say that those items belong to them.

    i.e. I cut down a tree and build a table. It's very obviously my table. The tree very obviously belongs to no one. I dig coal out of the ground and then it is mine. in the ground unclaimed it belongs to no one. This can be very complicate,d obviously but the basic thinking is sound.

    I can see the logic in that but what about the actual land under our feet? How do you decide the ownership of that?

  10. Oh boy, I've never thought of it like that before.

    'Taxation relies on violence ...'

    Too true. If you want to opt out and not pay the state arrests and imprisons you.

    How did it ever get started?

    Bloody religion. That's how. The king was head of the church and had 'divine' rights.

    In those days people were not educated and superstitious. You can understand why they bought into the bull that said they had to pay tax - to finance a divine war.

    Why do we buy into it? As you say, the answer is state violence.

    But Isn't the same 'state violence' used to uphold individual property rights?

  11. That wouldn't be taxation though, would it. Taxation relies on violence, otherwise it's merely payment.

    SNIP

    And property can be a fact, if you use facts (and not bits of paper) to determine who it belongs to.

    This is what I don't understand about your logic. You argue that taxation relies on violence yet fail to see that private property relies upon the same violence. Otherwise it's merely land.

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.