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About watchinandwaiting
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Money As Debt, Fractional Reserve Banking Etc
watchinandwaiting replied to othello's topic in House prices and the economy
Money deposited with a bank becomes the banks property, the depositor is now only a creditor. This money is then deposited with the central bank and becomes a "Reserve Account". the bank can now lend up to the reserve ratio 5:1...10:1...whatever the rules allow at a given time. When depositors demand their deposits back, this reduces their reserve account balance, and thus the amount they can legally lend. -
Inflation V Deflation.
watchinandwaiting replied to watchinandwaiting's topic in House prices and the economy
Trouble is, with the deflation scenario, eventually government runs out of money to pay public sector wages (sounds familiar) more people opt to work in the black market, cash in hand jobs etc, less tax take, less VAT take (sounds familiar) crime rises as people choose to steal what they can't afford to buy IMO at that stage the government ceases to function (South Africa prior to Mandella's release) and great and rapid changes occur. The alternative is for government to continue to print money to pay the wages of essential government workers (read police and armed forces) Hyperinflation! -
Aint Firefox Magic
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Moved that fast did'nt they.
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Bank Gets Spiteful
watchinandwaiting replied to Bear Goggles's topic in House prices and the economy
Do you charge your tenants £39.00 if they are late with the rent? -
Bank Gets Spiteful
watchinandwaiting replied to Bear Goggles's topic in House prices and the economy
Not a lot, most merchant service providers charge 20p to 40p to a retailer for each debit card transaction, and its much cheaper than printing cheques. -
Bank Gets Spiteful
watchinandwaiting replied to Bear Goggles's topic in House prices and the economy
The banks may find themselves being sued for closing accounts. Link -
Bank Gets Spiteful
watchinandwaiting replied to Bear Goggles's topic in House prices and the economy
Consumeractiongroup.co.uk has more than doubled its membership in the last three months, now 26,000 and has helped its members reclaim £677.000. -
Extended Mortgages 30, 50 Year Etc
watchinandwaiting replied to I Told You So's topic in House prices and the economy
100k motgage at 10% over 25years £908 month total £272,610 over 50years £839 month total £503,463 can't see much point! -
Extended Mortgages 30, 50 Year Etc
watchinandwaiting replied to I Told You So's topic in House prices and the economy
Yes but IOM's still have a term, they have to be paid of by a capital repayment at the end of the term. -
Tax Credits - Anyone Understand The System?
watchinandwaiting replied to delboypass's topic in House prices and the economy
Just a sec, I think Einstien's next door. -
Iran's Oil Bourse Will Not Be In Euros
watchinandwaiting replied to El_Pirata's topic in House prices and the economy
I dont believe we can be sure what Putins intentions or motives are, but one thing I am sure of is that having British Troops in Afghanastan and Iraq is morally wrong. We were lied to regarding WMD's, Iraq didn't have them.