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Audit Uncovers Fed Loans Of $17 Trillion.

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Loans equating to $2500 each for every single person on the planet, solely in the hands of a few hundred people to fvck the rest of us over with.

How quaint.

http://www.nationsonline.org/oneworld/third_world.htm

Income data a few years old but I wonder how many people on the planet don't even earn $2500 a year and yet the bankers get given it virtually free to gamble with food prices.

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Whilst all the rubbish Wall Street paper has its value protectb by QE, the bankers get to prance round playing billionares, when in reality the stuff is worthless. Allowing them to denominate the paper in $/£ is what gives it value, as in the real economy we are forced to use the same $/£, its just there are less of them.

Let's cut the link, declare Wall St paper worthless.

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PRINTY PRINTY!!!!

well, maybe they had $17T in security to back the loans?

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well, maybe they had $17T in security to back the loans?

....plus your internal organs and one or two external organs.

Don't worry folks, I'll keep working until people start looking down.

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I wonder how many people on the planet don't even earn $2500 a year and yet the bankers get given it virtually free to gamble with food prices.

Id Guess around 70%.

50% of Humanity [over 3 billion people] live on less than $2.50 per day.

80% of Humanity live on less than $10 per day.

Utterly obscene figures. All Governments are bought and paid for.

Edited by Milton

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Id Guess around 70%.

50% of Humanity [over 3 billion people] live on less than $2.50 per day.

80% of Humanity live on less than $10 per day.

Utterly obscene figures. All Governments are bought and paid for.

Correct numbers, wrong conclusion.

There are not enough full-time jobs on earth for "humanity"/earth' population.

And there not enough full-time UK jobs for UK population either. Just compare the claimant numbers with vacancies numbers, both stats are freely available on ONS website.

So someone has to live on what's left.

No amount of libertarian policies will change this mathematical fact.

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Correct numbers, wrong conclusion.

There are not enough full-time jobs on earth for "humanity"/earth' population.

And there not enough full-time UK jobs for UK population either. Just compare the claimant numbers with vacancies numbers, both stats are freely available on ONS website.

So someone has to live on what's left.

No amount of libertarian policies will change this mathematical fact.

Right, however there is gross misallocation of resources if the wealthiest 5% of the population would stop over-consuming there would be enough to meet the needs of everyone.

It's absurd that modern business obsesses about cost efficiency, totally disregards resource efficiency at its most fundamental, while operating under a political regime where full employment is the economic holy grail.

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Right, however there is gross misallocation of resources if the wealthiest 5% of the population would stop over-consuming there would be enough to meet the needs of everyone.

It's absurd that modern business obsesses about cost efficiency, totally disregards resource efficiency at its most fundamental, while operating under a political regime where full employment is the economic holy grail.

Define "misallocation of resources" and "resource efficiency" please.

Is oil/petrol a resource? Is food a resource?

So if wealthiest 5% stop driving and eating altogether, all others should then get their oil/petrol and food needs immediately met/satisfied? Is that what you are saying?

If yes I'd suggest you watch this video

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Define "misallocation of resources" and "resource efficiency" please.

Is oil/petrol a resource? Is food a resource?

So if wealthiest 5% stop driving and eating altogether, all others should then get their oil/petrol and food needs immediately met/satisfied? Is that what you are saying?

If yes I'd suggest you watch this video

That's not what I'm saying and that excellent video (thank you) demonstrates exactly what I'm saying.

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That's not what I'm saying and that excellent video (thank you) demonstrates exactly what I'm saying.

OK we are on the same side then :)

Unfortunately, resource reallocation or growth does not solve the problem. KD has an excellent piece today on this

Pretending that we can "grow" out of this is a lie. We cannot. To do so we would need to double GDP over the next decade, and yet do so without taking on one penny of additional debt anywhere in the system. That amounts to 7% growth each and every year for the next ten, with zero additional debt. That exceeds any long-run GDP growth the United States has experienced on a debt-adjusted basis at any point in the modern era and as such is simply not going to happen.

and his recipe is simple:

The government cannot provide that which we are unwilling or unable to pay for with current tax revenues. Period.

If the above becomes reality then what happens is: there will be even more people (former govt employees/public sector workers) without jobs and there will be even less full-time jobs.

No easy way out, I am afraid :angry:

1/ either redistribution/"reallocation of resources" by force, or

2/ radical shrinkage of govt

Number 1 will end capitalism as we know it and postpone the society collapse for a few short years

Number 2 will drastically lower living standards for millions for long time, if not till the end of their lives

Take your pick :P

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OK we are on the same side then :)

Unfortunately, resource reallocation or growth does not solve the problem. KD has an excellent piece today on this

and his recipe is simple:

If the above becomes reality then what happens is: there will be even more people (former govt employees/public sector workers) without jobs and there will be even less full-time jobs.

No easy way out, I am afraid :angry:

1/ either redistribution/"reallocation of resources" by force, or

2/ radical shrinkage of govt

Number 1 will end capitalism as we know it and postpone the society collapse for a few short years

Number 2 will drastically lower living standards for millions for long time, if not till the end of their lives

Take your pick :P

He's saying we need biblical style deflation.

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So wht did the FED lend so much money? Why would the BoE need a billion dollars, unless they were to lend it straight back to the FED?

To prevent institutions scrambling for dollars on the open market, which had virtually ground to a halt.

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  • 335 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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