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watchinandwaiting

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Everything posted by watchinandwaiting

  1. 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.
  2. 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!
  3. The intrusiveness of these adverts will drive people away from this site!
  4. Do you charge your tenants £39.00 if they are late with the rent?
  5. 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.
  6. The banks may find themselves being sued for closing accounts. Link
  7. 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.
  8. 100k motgage at 10% over 25years £908 month total £272,610 over 50years £839 month total £503,463 can't see much point!
  9. Yes but IOM's still have a term, they have to be paid of by a capital repayment at the end of the term.
  10. 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.
  11. My memory must be fading or something. Conservatives were in power from about 1979 to 1997.
  12. Back when oil was $20 dollars a barrel there was $1.5 trillion dollars a day moving around the world, its about $5.3 trillion at the moment. Thats $3.8 trillion more dollars printed into circulation, created by the US from nothing.
  13. All the countries that want to buy oil have to hold reserves of US Dollars, therefore the US can just keep printing money!
  14. Just a few thoughts. Bankrupts do not lose their houses for at least one year! IVA's allow people to wipe off large proportions of their debt, unsecured lenders might be the big losers. HIP's, as I understand it, the inspectors are government licenced or government employed, and is there not a shortage of qualified inspectors, surly this gives the government an opportunity to restrict the number of houses hitting the market. I also have a sneaky feeling that this time round the mortgage lenders will offer a solution to those in danger of repossession in some sort of rental scheme, ie the b
  15. Park Cakes sheds 425 jobs NORTHERN Foods said it intends to sell off Park Cakes, which employs 1,860 people, and in the short term cream cake production will stop in Oldham to concentrate on other areas like pizzas and sandwiches. The Oldham Advertiser exclusively reported the potential for job losses on May 25. Most of the 425 jobs to go from the cream cakes line are filled by workers on temporary contracts. Chief executive Pat O'Driscoll said: "The company will be radically refocused to drive improved shareholder returns. First published by the Oldham Advertiser
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