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House Price Crash Forum

Alan B'Stard MP

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Everything posted by Alan B'Stard MP

  1. How does an antiship missile make someone pay their bills?
  2. My Cash ETF is doing really bad for some reason.
  3. I put you in the same class of fruitloop as erranta. What's with this ceremony of printing up 100,000? Just default and jubilee it.
  4. I can only say we differ on the definition of debt. For me its someone forgoing a benefit - to have it returned at a later date. The world produces enough surplus for everyones needs - that much we know. No-one needlessly goes hungry for lack of a physical object somewhere on the globe. They may go hungry for not actually having ownership of said item of course. If we can produce all that we need in totality - there is no debt in totality. Unequal distribution of these surpluses of is the precursor of this debt - nothing more. Why is debt taken on? To gain access to surplus. How can debt be taken on - because someone has a surplus to give. If government emits money at face value equal to its cost of production - provides no services - and said money flows equally among all economic participants - then no debt is necessary. Therefore, money as debt is therefore not a hard rule of the universe. That in fact it creams a little of everyones surplus is irrelevant.
  5. I'm not contesting when and how money occurs - just that it is a perquisite that it has to be debt based. Firstly, in a productive economy where each transaction forms the national income and is taxed accordingly - can not this taxation money be used to fund necessary public services, using the economies of scale that bulk purchase allows? Is every level of public service from good to bad provision always going to require debt? The first point about debt is that it requires a willing borrower. What if everyone income and associated expenditure is such that no-one needs to borrow? Are you saying in totality there isn't enough national income for no-one to be debt? How? Who can fund the debt in the first place?
  6. Cavemen Police? What's would happen if public services werent forthcoming?
  7. It has no funding cost. In fact the State received benefit by spending it in the first place.
  8. No this is wrong. If I borrow a tenner from Bank Scepticus - you have funded this loan. I have received a benefit that you have forgone. This is debt. Taxation is not debt because the recipient has not funded it initially - and it has no servicing cost to them.
  9. Yes. But expectations of future taxation or consumption of debt based services will not render coinage worthless. It's metallic content can be used to meet demand. No debt but money will still circulate.
  10. So if ALL debtors default - does ALL the coinage disappear? Does it lose its ability to form legal tender?
  11. So if ALL debtors default - does ALL the coinage disappear? Does it lose its ability to form legal tender?
  12. So you are saying there can be no money (in your context - for the hard of hearing) without debt?
  13. Talking in riddles again I see. He established a perfectly valid context. He wasn't talking about monopoly money nor WH Smith vouchers nor ciggies.
  14. He had a context. Like talking about all the potatoes - when gardening your veggie patch.
  15. Not the class of money he was referring to. I got the context. It seems you missed it.
  16. He is. Government can emit coinage. Everything else is a derivative.
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