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Mike Rowbotham On The Absurdity Of Mortgages

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Gets interesting half way.

What is apparent is that in bankers' boardrooms everywhere, there will have been a flipchart showing this type of information. The bankers will have colluded to keep this information well kept behind closed doors, because they must have planned it to be this way, collectively. They have indeed been laughing at the general populace for a very long time, nowadays - we must literally split their sides with laughter. We (non-bankers) must truely seem like nothing to them, is the gist of it.

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Guest UK Debt Slave

What is apparent is that in bankers' boardrooms everywhere, there will have been a flipchart showing this type of information. The bankers will have colluded to keep this information well kept behind closed doors, because they must have planned it to be this way, collectively. They have indeed been laughing at the general populace for a very long time, nowadays - we must literally split their sides with laughter. We (non-bankers) must truely seem like nothing to them, is the gist of it.

You either believe i God (truth) or you believe in Mammon (Lies)

Nearly everyone out there believes in lies.

We are complicit in the fraud via ignorance or apathy.

I'm not religious but the parallels with what is written in the Book of Revelation are disturbing

We have surrendered to the absurdity of fake money and the consequences are going to be absolutely terrible.

We are all guilty in one way or another and we will all pay the price ultimately.

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You either believe i God (truth) or you believe in Mammon (Lies)

Nearly everyone out there believes in lies.

We are complicit in the fraud via ignorance or apathy.

I'm not religious but the parallels with what is written in the Book of Revelation are disturbing

We have surrendered to the absurdity of fake money and the consequences are going to be absolutely terrible.

We are all guilty in one way or another and we will all pay the price ultimately.

Yeah but then there'll be Armageddon, the Rapture and all that good ****

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Is Michael Rowbotham still around?

His book, written in the late 1990's, is so relevent to todays financial mess he should be up on a pulpit preaching to the masses about debt slavery.

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Is Michael Rowbotham still around?

His book, written in the late 1990's, is so relevent to todays financial mess he should be up on a pulpit preaching to the masses about debt slavery.

Indeed he should, and the rest regarding the race to the bottom.

Great find.

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Gets interesting half way.

Excellent video, and some thought provoking views that will keep me thinking about this for a while.

Thanks for posting.

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Over the last 6+ years - I have put many posts up here on HPC as to how patently absurd Mortgages are.

All they really do is DICTATE the "price" of property. LIAR LOANS show this up perfectly.

Person A goes to the Moneylender and begs to borrow money: Moneylender asks how much he needs: Person A says £50k.

The next month, Person B does the same - only the Moneylender tells him he can have £60k to buy a similar property. Moneylender lends Person B £60k, and, once the borrower Person B leaves the room, the Moneylender rubs his hands with glee, dances a jig, and falls over laughing. Person B is, in his eyes, a stupid, bovine debt slave - ripe for the kicking. Person B hasn't got a clue: He thinks Mr Moneylender is a really nice kind chap.

Within a few years - the Moneylender has lent Persons X, Y & Z £280k, £290k - and £300k for similar properties. X, Y & Z have gone out and "bought" their properties - and IN THAT PROCESS HAVE SET THE "PRICE" for properties X, Y & Z - and ALL THE OTHER SIMILAR PROPERTIES IN THEIR STREETS, VILLAGES, TOWNS & CITIES. All subsequent "buyers" and "borrowers" just ask to borrow and pay this + more so as to buy into the "Pwoberdee Investment" Game - i.e. Ponzi/Pyramid Scam.

The Moneylender has quite deliberately THROWN money at the grateful & STUPID borrowers who don't realise the Moneylender and his fellow VI friends & Property Speculators are LAUGHING THEMSELVES SICK as the 'SUCKERS' keep coming back for more........ :rolleyes::rolleyes: And so the "price" just goes up and up and up. Nobody seems to question the illogicality of this process.... :rolleyes::rolleyes::wacko::wacko:

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Over the last 6+ years - I have put many posts up here on HPC as to how patently absurd Mortgages are.

All they really do is DICTATE the "price" of property. LIAR LOANS show this up perfectly.

Person A goes to the Moneylender and begs to borrow money: Moneylender asks how much he needs: Person A says £50k.

The next month, Person B does the same - only the Moneylender tells him he can have £60k to buy a similar property. Moneylender lends Person B £60k, and, once the borrower Person B leaves the room, the Moneylender rubs his hands with glee, dances a jig, and falls over laughing. Person B is, in his eyes, a stupid, bovine debt slave - ripe for the kicking. Person B hasn't got a clue: He thinks Mr Moneylender is a really nice kind chap.

Within a few years - the Moneylender has lent Persons X, Y & Z £280k, £290k - and £300k for similar properties. X, Y & Z have gone out and "bought" their properties - and IN THAT PROCESS HAVE SET THE "PRICE" for properties X, Y & Z - and ALL THE OTHER SIMILAR PROPERTIES IN THEIR STREETS, VILLAGES, TOWNS & CITIES. All subsequent "buyers" and "borrowers" just ask to borrow and pay this + more so as to buy into the "Pwoberdee Investment" Game - i.e. Ponzi/Pyramid Scam.

The Moneylender has quite deliberately THROWN money at the grateful & STUPID borrowers who don't realise the Moneylender and his fellow VI friends & Property Speculators are LAUGHING THEMSELVES SICK as the 'SUCKERS' keep coming back for more........ :rolleyes::rolleyes: And so the "price" just goes up and up and up. Nobody seems to question the illogicality of this process.... :rolleyes::rolleyes::wacko::wacko:

I love your posts Eric. You're one of the few posters here who truly understand how manipulated demand is driving asset prices, and its not just houses.

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Gets interesting half way.

Good series. Thanks for posting it.

The link below (No. 4) is about 3rd world countries and 3rd world debt and it fits the UK almost exactly as a poor and impoverished country. That's what the UK leaders have led the country into.

Edited by billybong

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Most of it was good. Although the bit where he said 'there is not enough money to repay the debt' made me question his deeper understanding.

EDIT: Just to explain...it is not the 'money stock' that repays debts...it is trade. The creditor and debtor need to trade in balance over time. So the rich must buy more from the indebted poor, the surplus countries must buy from the deficit and so on and so on.

It is just that those coins need to flow in the direction of the debts to extinguish them.

( and don't say - 'but what about interest' or I might have to kill myself )

Right. He only looks at one side of the balance sheet as usual, forgetting to mention that the borrower has committed to paying off the loan, which is the real source of new money.

Mortgages per se are not absurd. What is absurd, as he points out, is the way people will bid up prices in competition for houses without any regard for value. Only affordability matters in this Game. Not sure what you can do about that other than ration mortgage amounts (multiples of salary as he says). Nothing inherently wrong in lending money to people who can repay out of their cash flow (and not relying on asset price inflation).

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Nothing inherently wrong in lending money to people who can repay out of their cash flow (and not relying on asset price inflation).

Nothing inherently wrong, in a sound money world. But where disposable income is squeezed and prices are elevated due to the debt based system as he says ,then the debt can never be paid back and the system must cycle on until the environment can't take any more. :unsure:

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Gets interesting half way.

I think it's important to point out that that speech was recorded in 1999 as well!!!! So the bit about how much mortgages have increased is even more poignant now than ever!!

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Right. He only looks at one side of the balance sheet as usual, forgetting to mention that the borrower has committed to paying off the loan, which is the real source of new money.

Mortgages per se are not absurd. What is absurd, as he points out, is the way people will bid up prices in competition for houses without any regard for value. Only affordability matters in this Game. Not sure what you can do about that other than ration mortgage amounts (multiples of salary as he says). Nothing inherently wrong in lending money to people who can repay out of their cash flow (and not relying on asset price inflation).

He completely mises the point.

banks don't lend money. They don't create money either.

They just pretend and then bluff it out. Theres a solution already available to anyone who wants it - simply call them on it.

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Most of it was good. Although the bit where he said 'there is not enough money to repay the debt' made me question his deeper understanding.

EDIT: Just to explain...it is not the 'money stock' that repays debts...it is trade. The creditor and debtor need to trade in balance over time. So the rich must buy more from the indebted poor, the surplus countries must buy from the deficit and so on and so on.

It is just that those coins need to flow in the direction of the debts to extinguish them.

( and don't say - 'but what about interest' or I might have to kill myself )

Yap. Thought the idea of velocity of money has been there since ages ago - how could he missed that.

IF the velocity is close to infinity, we only need a single 1p coin to facilitate all transactions and pay off all debt.

If velocity is close to zero, trillion of coins won't help.

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Yap. Thought the idea of velocity of money has been there since ages ago - how could he missed that.

IF the velocity is close to infinity, we only need a single 1p coin to facilitate all transactions and pay off all debt.

If velocity is close to zero, trillion of coins won't help.

You can't pay debts off with velocity.

Velocity itself creates more debts.

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You can't pay debts off with velocity.

Velocity itself creates more debts.

It doesn't. The 1p is a debt free government money.

I give 1p to HSBC that cancel by 1p debt, then HSBC give the 1p to a deposior which cancels its debt and in the next second, the 1p is back to me.

Of course all the credits will be extinguished, but the 1p will still exist.

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Most of it was good. Although the bit where he said 'there is not enough money to repay the debt' made me question his deeper understanding.

EDIT: Just to explain...it is not the 'money stock' that repays debts...it is trade. The creditor and debtor need to trade in balance over time. So the rich must buy more from the indebted poor, the surplus countries must buy from the deficit and so on and so on.

It is just that those coins need to flow in the direction of the debts to extinguish them.

( and don't say - 'but what about interest' or I might have to kill myself )

Sounds good, but if the debtor has no skills or assets that the creditor needs or wants then they simply will not be able to repay the debt.

You cannot turn a consumptive economy into a productive economy on a sixpence.

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It doesn't. The 1p is a debt free government money.

The hint is in "it's government money."

I give 1p to HSBC that cancel by 1p debt, then HSBC give the 1p to a deposior which cancels its debt and in the next second, the 1p is back to me.

Of course all the credits will be extinguished, but the 1p will still exist.

If you owe me 2 pence.

1 pence isn't enough.

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Most of it was good. Although the bit where he said 'there is not enough money to repay the debt' made me question his deeper understanding.

EDIT: Just to explain...it is not the 'money stock' that repays debts...it is trade. The creditor and debtor need to trade in balance over time. So the rich must buy more from the indebted poor, the surplus countries must buy from the deficit and so on and so on.

It is just that those coins need to flow in the direction of the debts to extinguish them.

( and don't say - 'but what about interest' or I might have to kill myself )

I'm not having that!

You can't pay taxes and loans with "trade", they want currency. Money, trade and wealth are separate entities.

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I love your posts Eric. You're one of the few posters here who truly understand how manipulated demand is driving asset prices, and its not just houses.

Most people truly understand it, they just choose not to bang on about it every f*cking day, in BIG RED LETTERS

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  • 238 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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