watchinandwaiting

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.

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

google

Moved that fast did'nt they.

The intrusiveness of these adverts will drive people away from this site!

Do you charge your tenants £39.00 if they are late with the rent?

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.

The banks may find themselves being sued for closing accounts. Link

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.

100k motgage at 10% over 25years £908 month total £272,610 over 50years £839 month total £503,463 can't see much point!

Yes but IOM's still have a term, they have to be paid of by a capital repayment at the end of the term.

Just a sec, I think Einstien's next door.

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.