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Harry Sacks

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Everything posted by Harry Sacks

  1. I saw this a while ago. It's funny how as a society we celebrate this stuff. Imagine what would happen if the guys who keep the sewers clear and collect our rubbish downed tools for a few days. Edit, to say I've just noticed the much celebrated British entrepreneur in the ad on the right of this thread. How ironic that he grew up to be a tax looting parasite.
  2. I would advise, at least, listening to the entire Renegade Inc interview in full. On appeal, Carlin says the case was "struck out" in his favor on the grounds that the bank had initially lied by saying the mortgage had not been securitised. Carlin presented evidence to the contrary, obtained under the FIA, which proved his mortgage account had been settled, in full, by a third party. Apparently, Carlin then went on the offensive and compelled the judge to request evidence of the loan from Santander using primary legislation - 1871 bankers book of evidence. The judge adjourned the case for three months before the next hearing when he then ruled in the bank's favor. Carlin then attempted to arrest the judge on five separate allegations. What happened then is rather suspect. Carlin was arrested for assault. He was taken to custody suite but not interviewed by the police but by the police ombudsmen instead. He claims they did this as there would be no obligation to investigate his own claims. The judge that Carlin attempted to arrests actually tried Carlin in the trial that followed an jailed him for three months. Make of it what you will but please don't jump to conclusions without looking at what is being presented. Full interview https://www.rt.com/shows/renegade-inc/441255-cop-judge-arrest-law/ It's worth noting that the case, Santander vs Carlin, is ongoing.
  3. Oh, dear Fergus is throwing his toys out the pram because he can't exploit people like he could before.
  4. Sure, but look at all the other transfers that are doing exactly the same thing. Housing benefit, Tax Credits, and the the big ones like the Single Farm Payment and QE. All transfers, all leveraged, all driving asset prices.
  5. That was interesting reading. I had no idea it was that severe.
  6. The BoE are only interested in keeping money tied up in assets. Which is why, up to now, with all the QE around the place, there hasn't been a whiff of inflation in anything other than assets. It's a rentiers paradise. Any surplus goes into housing cost, directly, or indirectly into share buy backs and off shore investments. Daylight robbery. The looting continues. I bet the MPC are scratching their heads over this.
  7. Show me an economic theory or policy that isn't based on a "hunch". We've kind of had this already with tax credits and the self employed. I'm certain UBI would end up inflating assets through leverage, cancelling itself out in a few years. The Germans have a totally different banking system to us. Most communities are served by small, local banks of which there are over 1500. We're worlds apart in that respect.
  8. What do the majority of people do when their income increases? Leverage against it by selling a security to a bank, mortgage, personal loan, etc. I'm not saying this would happen but I've yet to see any proposal that would stop it from happening.
  9. I found out about this from a Renegade Inc post on Facebook...
  10. Yes, my own opinion is moving in that way. If window guidance was in the direction of productive assets instead, this could be deflationary as production efficiencies increased. Add a "green ethic" into the mix and we might see change for the better..
  11. https://www.legalquest.org/ Also have a listen to NI cop Anthony Carlin's story about his case against Santander.
  12. Yes, but that is as likely to happen as a sound money system.
  13. This is my argument against Basic Income. It would just end up expanding bank assets further. We need to ditch this monetary system.
  14. Yes, they are THE promissory note. The 97.5% is issued AGAINST promissory notes, approx 60% of which are called mortgages. When you take out a mortgage you are selling the bank a financial instrument, a bond. You are paid with numbers that are entered into your account. That money didn't exist before, and will cease to exist when repaid.
  15. The fight against living wages has been going on nearly 40 years now. The investment class don't want them, it spoils their capital returns. Post war welfare capitalism was so successful it had to be usurped with manufactured crisis in many developed nations. The boomer generation got the best of both worlds, assets paid for by inflation and real capital gains just in time for retirement.
  16. NO. The 2.5% is cash, coins and notes. It's the permanent, debt free percentage.
  17. Er, yeah. 97.5% of all money circulating IS debt.
  18. If you want to get really simplistic, it could be said that banking is about taking value from the future and bringing it into the present. This system works until the present surplus can no longer sustain the burden.
  19. The banks capital can be cash or is usually cash equivalents - anything AAA rated, dodgy MBS for example. What was happening 2000+, banks where accessing the repo market for funding, rather than the CB. Swapping securities with corporations who were sitting on piles of cash. The ratings agencies were complicit in triple A rating the securities used in these transactions. When the SHTF the CBs had to take the place of the repo market, recapitalising the banks by purchasing these securities of unknown value. It's worth remembering that there was a global shortage of AAA securities at the turn of the century. IMO that was the main driver for this bubble.
  20. There's a few old piles in my area that made silly money pre crash and have not recovered. One place had extensive renovation including new thatch (prob 80-100k total) and sold in 2016 for 25k less than 2005.
  21. The US could overheat. increased deficit spending, tax cuts and tariffs. I see IR rising.
  22. The LL was a retired estate/letting agent! She knew the score, told me that because I was self-employed, not rented since 1992, no refs, etc, that no agent would touch me. She knew I was desperate, the other bedroom was for my 12yo daughter, and she took advantage. One of the other dumps I looked at was a one bed terrace cottage with asbestos roof. The front door opened against the ******ing kitchen. My head touched the ceiling upstairs. I thought it was some kind of practical joke. The previous tenant said the key meter would rinse him of £1 when he had a shower.
  23. I saw a card in the PO window for a two bed flat. The card was ominously sun bleached. The flat was above a chip shop and next to a convenience stove, probably the reason it had been vacant for so long. Even so, the LL wanted 3 months up front. The opportunity for sleep was between the pubs kicking out and the shop deliveries starting at 2am. There were issues with the bodged plumbing and other stuff, all of which I fixed myself. When i moved out the LL quibbled about a stain on the carpet (there when I moved in), the cleanliness of the cheapest, barely functional electric oven (which I cleaned) and a tear in the shitty kitchen lino which wasn't even bonded to the chipboard floor. During my tenancy the sash windows wouldn't close properly because the latches were broken. I had offered to fit new ones if she could provide them, that never happened. After all of this I came to the conclusion that all these money-for-nothing rent seekers are of no use to society, (in fact they are the net drain, externalising the cost of their existence) and really need to be careful. I wouldn't be surprised if we see some kind of organised hate in their direction. Edit: to add, this was by far the best place of the few available for the money.
  24. Last year I had rent a place for six months after being out of the rental market since 1992. I'm also self-employed which didn't help. Basically no one in my area would rent outside of an agent because of the income insurance they offer if the tenant goes bad. I couldn't believe the shit I was viewing. Damp, filthy places with black mold and carpets from the 70s. One shit hole even had a fridge full of food the last tenant left, the electric was off because the key meter had run out, the place was full of flies. I totally lost my shit with the agent and told him to get ******ed after that.
  25. The ECB have selectively encouraged it through "window guidance".
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