-
Content Count
2,496 -
Joined
-
Last visited
About the_austrian
-
Rank
HPC Veteran
-
The only way to get a meaningful nominal crash is for there to be less money in circulation. Which can only happen if significant amounts of debt are paid back... which is literally impossible. A big mistake people make is to compare what we are going through now with the depression of the 1930's. A stock market index is NOT THE SAME as a house price index. People need houses more than they need stocks. In the 1930's the leveraged investors were generally wealthy speculators who could easily close their accounts and pay back the debt... they had the liquidity to do so. With the current house
-
Who Do We Keep Borrowing From?
the_austrian replied to trippytinker's topic in House prices and the economy
The government is borrowing from people who sell things. Let's say the government wants to commission the building of a new hospital. The people who win the contract agree to build the hospital and agree to receive their payment in the future. (They have purchased a government bond.) This means the government is now in further debt. A bond has been issued (to be repaid by taxpayers in the future) and your children are now further in debt. The government is borrowing from anyone who will sell things to the government and is willing to accept deferred payment. It continues for as long as the go -
Moneyweek- The Rise Of The Robots.
the_austrian replied to wonderpup's topic in House prices and the economy
There is a huge distinction between excluding the 'poor' from food directly and excluding them from land. No one made the land. One of the best written expositions of this important distinction is by Winston Churchill... http://www.landvaluetax.org/current-affairs-comment/winston-churchill-said-it-all-better-then-we-can.html In short... the landless have justified grievances against the rich... those with land do not. There is easily enough land on the planet to feed everyone. This is where the arguments against technology are futile. People have been able to feed themselves for thousands o -
Interesting thread. My only thought is what are you doing with the cash? Fiat money is a dangerous thing to be holding onto... especially as we face a very uncertain future financially. As you accept yourself. Hard to know where to squirrel away that sort of retirement money. Stocks and shares?
-
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
No coercion no crime... A fraud can be avoided by those who have seen through it. Not so with banking. -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
Call me an optimist but I have faith in the internet remaining free. If it isn't we have (perhaps) bigger problems than banking. -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
It's difficult to see something you do not want to see. And the money is good -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
The days of being able to bump off a president are long gone. If there is sufficient soft pressure in the media (the ballot box is less important... ) to look at reform it will happen. Mervyn King: "Of all the many ways of organising banking, the worst is the one we have today." Central bankers have never spoken like this. They must change because their inconsistencies are becoming more and more obvious. The internet age likes consistency. -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
Truth and reconciliation. I'm long past the stage of wanting to seek revenge. Now all I want is for the system to be fixed so that banks can fail and we can get on with our lives. -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
Perhaps they do not share our cynicism. In fact being somewhat naive concerning the effects of their actions might be a qualifying attribute. -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
I see that most people do not know how banking works and they think their bank account is representative of cash... this doesn’t strictly define fraud. Even the bank could be confused about what is going on. It’s not fraud if it’s not deliberate and that’s where the accusations of conspiracy are relevant. I don’t think there is a deliberate conspiracy amongst the bankers they are merely the happy beneficiaries of legal precedent (and ignorance) that have lead us to where we are now. The most important organisation in the country is the central bank and almost no one pays them any attention. H -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
I thought the value of cash comes from the state? Or have you changed your position on that -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
No this is a complete misunderstanding... prices remain the same -
Banking Is Not A Conspiracy
the_austrian replied to Extradry Martini's topic in House prices and the economy
A mistake which they are now forced to accept by the coercion of the state. Coercion can influence the market.