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House Price Crash Forum

MrFlay

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About MrFlay

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  1. We have a housing crisis because it is government policy to have a housing crisis (a housing crisis and high house price inflation are two sides of the same coin). The only way to fix it is to reverse government policy.
  2. Did everybody stop spending in 2003 when savings rates were way higher than inflation?
  3. Central Banks. https://truthout.org/articles/central-banks-have-gone-rogue-putting-us-all-at-risk/
  4. I suspect a lot of the foreign money properties are bought for money laundering, not investment. You buy a property with your dodgy money, then you take out a loan against it. Then your loan money is squeaky clean as it has come direct from a 'reputable' bank. There's no reason for the owner to bother with the hassle of renting it out.
  5. Imagine you are an evil dictator, and you want to extract as much wealth from your population as possible. How do you do it? You could tax them, but they might get angry and overthrow you. Alternatively you could create an artificial scarcity of an essential resource (e.g. housing) and give the people access to unlimited credit to buy the resource. The people will then willingly sell themselves into debt slavery to outbid each other and you get to collect all the interest payments. Everyone thinks you are great for lending them the money. Its a genius system.
  6. IMO the two main features of cryptocurrencies like bitcoin are: - You can make a transactions without having to trust a third party - Cryptocurrencies are not tied to a country These two properties mean that cryptocurrencies make offshore bank accounts obsolete. Consequently the estimated $20T in offshore bank accounts is likely to start migrating into cryptocurrencies.This suggests that cryptocurrencies, with a market cap of about ~$500M, are currently undervalued.
  7. VAT seems to be broken. If someone buys something off eBay from a Chinese company they don't pay any tax. How are UK companies supposed to compete?
  8. There would be a big capital gains tax bill for a uk resident buying that house in bitcoin.
  9. By my estimates he owns more bitcoin than 99.995% of the worlds population, so there is still plenty of scope for greater fools. https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
  10. According to my economic theory that I've just made up, helicopter money should be safe as long as the amounts involved are significantly less than the amount of debt in the system. The helicopter money will just flow through the economy providing a stimulus until someone uses it to pay a debt, where it will effectively disappear. I'm inclined to think the way out of this economic mess is to put interests rates back to a sensible level, and use helicopter money to compensate for the reduction in money supply.
  11. So that's why they want to privatise the land registry - private companies don't have to grant freedom of information requests. Some relevant petitions: https://you.38degrees.org.uk/petitions/stop-privatisation-of-the-land-registry https://speakout.38degrees.org.uk/campaigns/extend-foi
  12. I don't really know anything about gold markets, but I guess what is happening is that the investment banks create paper gold out of nothing (basically an iou based on the future price of gold), then they sell it, and invest the money in something that increases in value faster than gold, then pocket the difference. If the price of gold increases faster than their investments, all they have to do is to create even more paper gold (from nothing) and dump it on the gold markets to reduce the price, which is what happened here. I guess eventually the paper gold investors will realise that they can't win, and the price of paper gold will fall to zero, and the investment banks keep all the money.
  13. If I understand it correctly, I think that having money in a bank account isn’t really ‘money’ as such, it just means that the bank has an obligation to pay the account holder that ‘money’ sometime in the future. When banks ‘create money’ they are just creating a new obligation to pay someone some money in the future. So there doesn’t need to be any actual money involved, they just need to change a number in a computer somewhere.
  14. In the initial video, is there a subliminal message in the backing vocals?
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