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Ok, Not trying to start an argument, but hey i will give it a go?

Recently there seems to be many discounting sterling, good old British lagal tender. I went to work today and for example worked eight hours, for one hundred Great British Pounds. There i gave up ten hours of my day to work for this worthless crap. Why did i not demand to be paid in Gold, or in coffee beans, or in Sterling, or in Jap Yen.

No i go this paper rubbish no one wants anymore. It just falls in value. Whats worse i have saved up some of this rubbish, got a pile of it under the matress, whats the point?

The point i am making is if so many on here are that convinced the Great British Pound is becoming worthless by the day, and in two years time, lose so much buying power, well you would be better off buying some over priced artifact you do not need then why get up to go to work?

Cash, savings, earnings will all fall together and rise together. Most of us have to work, will work, our pensions are paid in worthless sterling paper.

When wages rise, so will interest rates, so will the return on your cash. We all have our own personal inflation rate, if i choose to be cold, starve, and sit alone in a darkened room for weeks on end, my inflation rate is zero.

I just don't get this paper money, this Sterling is no good. You live here, you work here, you get paid here, you are staying here, things ain't that bad if you are not in debt and have savings.

Why should you get 5% after tax return on your cash, when wages are falling, and you take no risk. If you are getting north of 2% after tax, you are doing better than the poor bugger who has no job, or has taken a ten percent pay cut, or has taken a two year pay freeze to keep his job?

P

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When wages rise, so will interest rates, so will the return on your cash.

Have your wages gone up by 10% in the last two years?

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You make the assumption that everybody goes to work for money.

I actually go to work to keep myself sane.. In that basic supply and demand economics, when unemployed I have uber spare time and it is not valuable... When I have a book to write or something complex to do this suits me fine but I don't always have complex things to do or books to write and have dry periods where I can't think of anything to write.

With cut backs in most areas of my life I could live on a lot less, the bits of paper I get at the end of each month are just a sweetner on things and it is not the end all of the job. People call me crazy for going to work when I return with not much to show for it, but I get satisfaction doing (some) jobs and it helps pass the time.

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the answer is don't keep your savings in cash - buy some form of asset, companies, gold, a house, furniture, bonds.

Historically buying and holding stock for a long period has been the best guard against inflation.

At the very least that means that inflation will not eat the value of your nest egg from underneath.

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You make the assumption that everybody goes to work for money.

I actually go to work to keep myself sane.. In that basic supply and demand economics, when unemployed I have uber spare time and it is not valuable... When I have a book to write or something complex to do this suits me fine but I don't always have complex things to do or books to write and have dry periods where I can't think of anything to write.

With cut backs in most areas of my life I could live on a lot less, the bits of paper I get at the end of each month are just a sweetner on things and it is not the end all of the job. People call me crazy for going to work when I return with not much to show for it, but I get satisfaction doing (some) jobs and it helps pass the time.

Just checked ou the blog - are you the chinese guy?

:)

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You make the assumption that everybody goes to work for money.

I actually go to work to keep myself sane.. In that basic supply and demand economics, when unemployed I have uber spare time and it is not valuable... When I have a book to write or something complex to do this suits me fine but I don't always have complex things to do or books to write and have dry periods where I can't think of anything to write.

With cut backs in most areas of my life I could live on a lot less, the bits of paper I get at the end of each month are just a sweetner on things and it is not the end all of the job. People call me crazy for going to work when I return with not much to show for it, but I get satisfaction doing (some) jobs and it helps pass the time.

Having been unemployed earlier in my life work is certainly more than just going for the money. If you work with good people who you can get on with there is a big socializing element helping to keep you sane. Being unemployed is incredible demoralizing and becomes very draining mentally. I can see why many long term unemployed simply give up.

As for working for money what option do the majority of people have, if I turn round and demand to be paid in gold or silver I think I'd be told to go fook myself.

Money is currently easily exchangeable if the trust that fiat is built on is destroyed currently we are going down that path then the real terror will begin.

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Having been unemployed earlier in my life work is certainly more than just going for the money. If you work with good people who you can get on with there is a big socializing element helping to keep you sane. Being unemployed is incredible demoralizing and becomes very draining mentally. I can see why many long term unemployed simply give up.

As for working for money what option do the majority of people have, if I turn round and demand to be paid in gold or silver I think I'd be told to go fook myself.

Money is currently easily exchangeable if the trust that fiat is built on is destroyed currently we are going down that path then the real terror will begin.

Every day I spent at work a little piece of me died.

That's why I want my kids to get a degree - so hopefully they have a chance of doing a job they find interesting and enjoyable.

But for many people not working is much more preferable to working

Who would choose to spend 12 hours a day in a call centre or a chicken gutting factory?

It isn't good for your soul, or anything else for that matter - it's actually soul destroying.

:blink:

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The reason you should continue to work in return for fiat currency is that other people will work for it, or swap tangible assets.

It's a confidence game. As long as everyone (in practice, 'most' people) believe that it has value then it does. Once people start to shun it then get out. Preferably get out before everyone else.

You could actually say the same thing about gold, just that it's impervious to inflation or control by the men in charge of the printing press. The ultimate 'currency' is food/water, closely followed by energy. And some sort of means to defend yourself of course.

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We've got to stop believing what the wealthy few are telling us. One is this lie that if there is even a slight inflation the economy will go away, no one will use the currency. Reality: Many nations are running 10-20% inflation a year and their economy still goes forward each day, and everyone goes to work. And even the most aggressive pro-printing gurus I know of are recommending moving to 5% annual inflation, not 20%.

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We've got to stop believing what the wealthy few are telling us. One is this lie that if there is even a slight inflation the economy will go away, no one will use the currency. Reality: Many nations are running 10-20% inflation a year and their economy still goes forward each day, and everyone goes to work. And even the most aggressive pro-printing gurus I know of are recommending moving to 5% annual inflation, not 20%.

Inflation is like a good virus, it can lay dormant for a great period of time before it takes hold all of "unexpectedly" for no recognisable reason, can be anything that sets it off, thats why its time proven to be completely uncontrollable. As it goes i think we are less than a couple of weeks away from the big QE2 announcements, so youll get what you want, it wont stop the end of this 18 month bear rally coming in a couple months though, it should bring in and persuade enough retail investors to hold though and get rinsed on the way back down.

Its nice and symmetrical, QE1 is viewed as ending the bear market, QE2 will probably after a relatively small run up be viewed in hindsight as having completely the opposite effect

Edited by Tamara De Lempicka

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You could actually say the same thing about gold, just that it's impervious to inflation or control by the men in charge of the printing press.

Why is it out of control of the men in charge of the printing press? They seem to be able to do what they want.

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We've got to stop believing what the wealthy few are telling us. One is this lie that if there is even a slight inflation the economy will go away, no one will use the currency. Reality: Many nations are running 10-20% inflation a year and their economy still goes forward each day, and everyone goes to work. And even the most aggressive pro-printing gurus I know of are recommending moving to 5% annual inflation, not 20%.

Quite... I think the general concencus is that two or three per cent is a good place to be for inflation.... but the germans appear to be one of the very few nations to have managed to deliver consistent growth levels and consistent inflationary figures ( even the german property market didn't go double bubble I think.. wonder how they managed that).

I am not betting that interest rates will rise anythime soon neither do I think wages will rise.... which is a problem on the basis that headline inflation certainly will what with VAT, rising fuel costs , perhaps some sterling pressure, rising food prices, exported chinese infaltion etc etc

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Recently there seems to be many discounting sterling, good old British lagal tender. I went to work today and for example worked eight hours, for one hundred Great British Pounds. There i gave up ten hours of my day to work for this worthless crap. Why did i not demand to be paid in Gold, or in coffee beans, or in Sterling, or in Jap Yen.

Erm...why don't you just buy some gold or coffee beans with your wages then?

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Could be worse, you could have been paid in 1999 in FTSE100's, Or in Gold around 1980.

Just saying, You may be right about sterling, all signs point that way. But there is no such thing as a surefire store of money/wealth, only good/bad timing.

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Well,

Nothing really worth noting? Money is money, you need it to just exist, its just funny the way individuals buy into a position, then put their blinkers on?

Makes me laugh though...................Most have to work, so this work for a hobby, well not real for most. As for wage rises, that was not the point, i said while wages are falling or stagnating or disappearing, then holding this worthless crap paper called sterling ain't that bad.

If wages rise, well watch interest rates rise, so offset any help to the over leveraged indebted.................

I watched the Four Corners Overdose today, very good, but for the life of me, if this bailout bubble does blow, asset prices could fall 90%.

P

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Ok, Not trying to start an argument, but hey i will give it a go?

Recently there seems to be many discounting sterling, good old British lagal tender. I went to work today and for example worked eight hours, for one hundred Great British Pounds. There i gave up ten hours of my day to work for this worthless crap. Why did i not demand to be paid in Gold, or in coffee beans, or in Sterling, or in Jap Yen.

No i go this paper rubbish no one wants anymore. It just falls in value. Whats worse i have saved up some of this rubbish, got a pile of it under the matress, whats the point?

The point i am making is if so many on here are that convinced the Great British Pound is becoming worthless by the day, and in two years time, lose so much buying power, well you would be better off buying some over priced artifact you do not need then why get up to go to work?

Cash, savings, earnings will all fall together and rise together. Most of us have to work, will work, our pensions are paid in worthless sterling paper.

When wages rise, so will interest rates, so will the return on your cash. We all have our own personal inflation rate, if i choose to be cold, starve, and sit alone in a darkened room for weeks on end, my inflation rate is zero.

I just don't get this paper money, this Sterling is no good. You live here, you work here, you get paid here, you are staying here, things ain't that bad if you are not in debt and have savings.

Why should you get 5% after tax return on your cash, when wages are falling, and you take no risk. If you are getting north of 2% after tax, you are doing better than the poor bugger who has no job, or has taken a ten percent pay cut, or has taken a two year pay freeze to keep his job?

P

Did you know that you can walk into any shop in the country and exchange this worthless "paper rubbish" for goods and services of your choosing. You can even have things delivered to your door with a few clicks of a mouse. You might find this a bit more difficult with coffee beans.

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Did you know that you can walk into any shop in the country and exchange this worthless "paper rubbish" for goods and services of your choosing. You can even have things delivered to your door with a few clicks of a mouse. You might find this a bit more difficult with coffee beans.

Exactly.......................The whole point of my thread. You would think we are about to enter the abyss, the total fall of FIAT, when reading some threads.......

If FIAT falls then so does society in general, there is no alternative considering it took the elite 40 years to get where we are, to accumulate the mountain of debt they own and we will have to pay down. Why swap a winning elitist formula?

Its just we live to work, and work to pay down debt, its like a revolving door for most?

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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