deeplyblue Posted June 24, 2009 Share Posted June 24, 2009 (edited) If you really want us to believe a story you've invented, then make it slightly credible! Or, do you believe in the old adage "If you tell a lie, make it a big one!"? What makes you think she really wants us to believe it? Reminds me of the old "Deadalus" pages at the back of the New Scientist, which was always coming up similarly highly improbable but entertaining schemes. Keep it up Laura - with or without the G&T. db Edited June 24, 2009 by deeplyblue Quote Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted June 24, 2009 Share Posted June 24, 2009 My public service mole (the same one who told me about Brown's barmy 'Compulsory House Price' idea way back) has revealed another nutty, yet interesting plan that is being tossed around, a Two-Tier Currency! - I kid you not! i think you are a big kidder Quote Link to comment Share on other sites More sharing options...
Gideon Gono Posted June 24, 2009 Share Posted June 24, 2009 My public service mole (the same one who told me about Brown's barmy 'Compulsory House Price' idea way back) has revealed another nutty, yet interesting plan that is being tossed around, a Two-Tier Currency! - I kid you not!If I have this right, the idea is that vendors will be encouraged to reprice their properties back up to 2007 values but in new 'Property Pounds'. Whereas buyers will use the GBP, as we all know & love it, at a ratio of ten to one PP to GBP for property purchase. The clever part is that vendors do not have to convert their PP stash back into GBP if they do not wish to as special PP savings accounts will be set up. Thus they can keep their money safe until they wish to buy another house. No interchange of the two will be allowed outside of property sale & purchase until the UK is back on its feet. At some point in the future the govt. will gradually begin to reduce the differential between the two until parity is restored. In the meantime buyers will be able to purchase one property (& one only) using the scheme, & sellers can only sell using it. Breaking these rule will be a criminal offence. The plus point for sellers is that they will (if they have sufficient equity) be able to see all those zeros in their saving accounts knowing that one day they will again be equal to Sterling. It is thought that this will provide a huge boost to the housing market & allow the deserving to buy a place of their own without BTL scum pricing them out. This sounds so socialist to me that I can't believe anyone from Brown's mob had anything to do with it. The chances of this idea being introduced are very slim, but who knows what legislation will be imposed when the uk collapses. With Brown out of the picture this wont happen. Quote Link to comment Share on other sites More sharing options...
Gideon Gono Posted June 24, 2009 Share Posted June 24, 2009 anyone holding their wealth in that PP currency would be taking a real chance Anyone thinking this would actually happen needs their head read. Quote Link to comment Share on other sites More sharing options...
Laura Posted June 24, 2009 Author Share Posted June 24, 2009 Reminds me of the old "Deadalus" pages at the back of the New Scientist, Thxs db Anyone remember 'Bargepole' at the back of 'Punch'? He wrote a towering piece just before GC1. I kept it for years. Then I moved. You can guess the rest Quote Link to comment Share on other sites More sharing options...
50%deposit Posted June 24, 2009 Share Posted June 24, 2009 more evil from our evil govt. i wish i was made of semtex, id blow them all to hell. Quote Link to comment Share on other sites More sharing options...
Pytyr Posted June 24, 2009 Share Posted June 24, 2009 Even this seemingly bonkers idea has been done before. I give you the Financial Rand. Quote Link to comment Share on other sites More sharing options...
grizzly bear Posted June 24, 2009 Share Posted June 24, 2009 (edited) I can see how this works as part of a chain, but what about the property at the top? eg most of the houses we are looking at are either probate sales or owners who are downsizing or emigrating. What would these people do with the property pounds if they were not going to buy a UK property again? But if they had to accept them they wouldn't sell at all, instead their just rent it out. So it would cause market to totally stagnate. Totally unworkable. Much better idea would be to reprice all houses at half of 2007 levels and to convert the negative equity into a special type of loan that gets repaid via PAYE from gross income over 10 year period - increase in tax rate. Edited June 24, 2009 by grizzly bear Quote Link to comment Share on other sites More sharing options...
Giordano Bruno Posted June 24, 2009 Share Posted June 24, 2009 My public service mole (the same one who told me about Brown's barmy 'Compulsory House Price' idea way back) has revealed another nutty, yet interesting plan that is being tossed around, a Two-Tier Currency! - I kid you not!If I have this right, the idea is that vendors will be encouraged to reprice their properties back up to 2007 values but in new 'Property Pounds'. Whereas buyers will use the GBP, as we all know & love it, at a ratio of ten to one PP to GBP for property purchase. The clever part is that vendors do not have to convert their PP stash back into GBP if they do not wish to as special PP savings accounts will be set up. Thus they can keep their money safe until they wish to buy another house. No interchange of the two will be allowed outside of property sale & purchase until the UK is back on its feet. At some point in the future the govt. will gradually begin to reduce the differential between the two until parity is restored. In the meantime buyers will be able to purchase one property (& one only) using the scheme, & sellers can only sell using it. Breaking these rule will be a criminal offence. The plus point for sellers is that they will (if they have sufficient equity) be able to see all those zeros in their saving accounts knowing that one day they will again be equal to Sterling. It is thought that this will provide a huge boost to the housing market & allow the deserving to buy a place of their own without BTL scum pricing them out. This sounds so socialist to me that I can't believe anyone from Brown's mob had anything to do with it. The chances of this idea being introduced are very slim, but who knows what legislation will be imposed when the uk collapses. Mmm. Interesting. It sounds a bit complicated. I'm not sure how it would work in practice.I think there was also mooted the idea that any person who does not own property, and who has a job paying over, say, £20k pa, could be legally required to buy a property or face going to prison. After all, these people who do not buy property are not playing their part in bringing about the much needed recovery in house prices. Just kidding. Quote Link to comment Share on other sites More sharing options...
deeplyblue Posted June 25, 2009 Share Posted June 25, 2009 more evil from our evil govt.i wish i was made of semtex, id blow them all to hell. Please tell me you were joking - on both counts. In case you weren't: a. It was written to provide a little light relief. It is NOT an evil plot to destroy our way of life. b. I thought we'd seen enough of people who believe that blowing themselves up is a good way to put the world to rights. If you were joking - try for a lighter note next time. db Quote Link to comment Share on other sites More sharing options...
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