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So, Who, when it comes down to it, has all the money that is being lent out?

Or, put another way, if every country in the world defaulted and started with a clean slate, who would be the losers?

If a mass default took place, would the UK be better off, or worse off? More specifically, which groups of people in the UK would do badly out of the deal, and who wouldn't suffer so much (would any groups actually benefit??)

Ultimately, countries are irrelevant. "Countries" do not have debts, or funds of money. These, ultimately, are owned, in different proportions, by the people of that country.

So, where is it? Is mass default just another word for wealth distribution to the poor?

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So, Who, when it comes down to it, has all the money that is being lent out?

I think the short answer is "ourselves". We are collectively borrowing from future tax payments and our own pension funds.

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So, Who, when it comes down to it, has all the money that is being lent out?

Or, put another way, if every country in the world defaulted and started with a clean slate, who would be the losers?

If a mass default took place, would the UK be better off, or worse off? More specifically, which groups of people in the UK would do badly out of the deal, and who wouldn't suffer so much (would any groups actually benefit??)

Ultimately, countries are irrelevant. "Countries" do not have debts, or funds of money. These, ultimately, are owned, in different proportions, by the people of that country.

So, where is it? Is mass default just another word for wealth distribution to the poor?

The wealthiest people in the UK became 4x+ wealthier over the past decade!

They quadrupled their wealth and sucked the country dry whilst the financial gambling losses (that made the super rich, richer) were all loaded onto the UK taxpayer. (Our Govt and BOE manipulated)

So they hung on to all their extra wealth by not being forced to take a haircut on their investments - Crafty, manipulating bastards!

They also get laws put thru OUR Govt so they can 'Legally' avoid paying their full dues back in to society by usage of tax avioidance and think they are clever!

A double whammy on the rest of the population and the chief parasites of the Nation!

Edited by erranta

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The wealthiest people in the UK became 4x+ wealthier over the past decade!

They quadrupled their wealth and sucked the country dry whilst the financial gambling losses (that made the super rich, richer) were all loaded onto the UK taxpayer. (Our Govt and BOE manipulated)

So they hung on to all their extra wealth by not being forced to take a haircut on their investments - Crafty, manipulating bastards!

They also get laws put thru OUR Govt so they can 'Legally' avoid paying their full dues back in to society by usage of tax avioidance and think they are clever!

A double whammy on the rest of the population and the chief parasites of the Nation!

+1

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Credit Suisse is, as the name suggests, a Swiss bank, and therefore very interested indeed in the whereabouts of money. In October, its “research institute” issued a report on the world’s disposable cash. This put a figure on “global wealth”: $200 trillion. It also put a figure on “global government debt”: $45 trillion.

The report said there are, roughly speaking, 4.4 billion adults on the planet, but only about 10 million of those exist in a manner Credit Suisse would understand. These are ultra “high net worth individuals” (HNWIs). Between them, they can lay hands – have a calculator ready – on $39 million millions. Seriously.

Now, I don’t say anyone should want to eat the rich. As I have mentioned previously, they have no taste. Nor do I say, necessarily, that there are 10 million thieving swines among us. (Then again, what are the odds?) I merely remind you: $45 trillion in debts; $39 trillion known to be – and never mind the rest – in private hands. Have we really cracked this taxation thing?

Predictably, the largest number of HNWIs are in America, land of the free, where anyone can become rich, but few – for what sort of system would that be? – actually do. Some three million Americans have 31% of the £39 trillion, with the Japanese close behind. But Europe, continent of emigrating Irish folk, rioting Greeks and Britons who are “all in this together”, doesn’t do badly.

We also have around three million HNWIs. Their collective wealth is calculated at $9.5 trillion. Better still – for them, at least – that figure represented a 14.2% increase in 2009. Why so lucky? Because in 2009 the stock markets were roaring. They were roaring chiefly because of all the money pumped into “the system” by governments saving banks. Now those governments are a bit short and would like the rest of us to pay up, please. Which brings us back to taxation.

http://www.heraldscotland.com/comment/ian-bell/why-don-t-we-tax-the-rich-1.1069738

https://emagazine.credit-suisse.com/app/article/index.cfm?fuseaction=OpenArticle&aoid=291405&coid=284071〈=EN

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  • 142 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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