Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 I don't think there is a huge conspiracy here. I was just pointing out that the central banks are privately held, it seems odd to most people when they hear for the first time that the Bank of England pays dividends to shareholders. We all know what power large shareholders wield over companys The system is a stange one as it is designed so that money gravitates to a small number of people, the lenders. That is rather at odds with the sensationalist tone of your previous post. You point out the BoE holds £11bn of government bonds. This is a tiny fraction of the national debt, which is £480bn. I think a better question is why do the government borrow money from private sources (i.e. bond investors) rather than simply create the money and spend it into the economy themselves? This way they would not have any interest to pay to private sources, they would not have any debt, and not have any interest to pay. Why should governments outsource the creation of money to private banks (true private banks, not the BoE) and pay a massive price for doing so? Quote Link to comment Share on other sites More sharing options...
IMupNorth Posted December 16, 2005 Share Posted December 16, 2005 I don't think there is a huge conspiracy here. I was just pointing out that the central banks are privately held, it seems odd to most people when they hear for the first time that the Bank of England pays dividends to shareholders. We all know what power large shareholders wield over companys The system is a stange one as it is designed so that money gravitates to a small number of people, the lenders. I'll say this only twice, obviously you are ignoring facts and my post above ...... the B of E IS NOT PRIVATELY HELD, IT IS NATIONALISED, 1st March 1946 to be precise. Go and read the B of E website for 10 minutes and you will realise that you have been fed a right dose of bullsh1t. Gawd help us !! Quote Link to comment Share on other sites More sharing options...
Biriani Posted December 16, 2005 Share Posted December 16, 2005 Does everyone realise the Bank of England is privately owned? First, as it has already been pointed out, the Bank of England was set up by private owners, but is now owned by the government. This is a common situation in most countries. However, what many people don't realise is that actually quite a few central banks (USA, Belgium, Italy, South Africa, Switzerland) are partly or wholly privately owned. This isn't as significant as you might think though - while the capital of a CB might be privately owned, its purpose and operations will be governed by statute - ie private shareholders have no say in its running. Also, remuneration to private shareholders tends to be either fixed or capped, rather than just a distribution of the profits of the CB. So ownership is more like owning bonds than equity. This is important since CBs are monopolies with the ability to earn high rents and profits from seignorage. Most of such profits are distributed to the government, regardless of the ownership structure. There has been a bit of shareholder activism, particularly in Belgium and South Africa, with them demanding more control and profit, but these have always been unsuccessful. Private ownership isn't a particularly big deal for central banks, but it is nevertheless something which most have got rid of and the remainder are considering phasing out. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted December 16, 2005 Share Posted December 16, 2005 Can we go back talking about the demise of milkmen - my ex is now seeing a milkman (Mr. Perfect, Mr. Gulliable morelike), and I would love (bitter and angry mode) for them to be the major casualties of the coming global financial crisis... perhaps not! Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 Can we go back talking about the demise of milkmen - my ex is now seeing a milkman (Mr. Perfect, Mr. Gulliable morelike), and I would love (bitter and angry mode) for them to be the major casualties of the coming global financial crisis... perhaps not! As someone else pointed out, the milkman is on a long downward trend anyway, due to the rise of Tesco et al. They have been struggling for years and will continue to do so. My mother still has milk delivered, I buy mine in the shop when I need it. It is a symptom of our rootless society - the milkman was part of the community when I was growing up, not any more for most people. P.s. Milkmen do NOT own the bank of england. Quote Link to comment Share on other sites More sharing options...
Mushroom Posted December 16, 2005 Share Posted December 16, 2005 Can we go back talking about the demise of milkmen - my ex is now seeing a milkman (Mr. Perfect, Mr. Gulliable morelike), and I would love (bitter and angry mode) for them to be the major casualties of the coming global financial crisis... perhaps not! I feel your pain! There's probably a correlation between more women at work and declining numbers of milkmen. Hmm. Might even be causation. Don't want milk left on doorstep all day. Quote Link to comment Share on other sites More sharing options...
BoredTrainBuilder Posted December 16, 2005 Share Posted December 16, 2005 (edited) Is this RFD-Veritas thing a wind up? I'm guessing it isn't from his reaction..... You mean non-reaction. I'd still like to know whether Veritas is Kilroy-Silk's inspiration or not. He seems to come up in google but on the website itself he has been airbrushed. RFD seems the right person to ask, as the only live (OK, disembodied) veritas person I've ever met. We need to know, it's crucial to the whole future of house prices in this country. Edited December 16, 2005 by BoredTrainBuilder Quote Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted December 16, 2005 Share Posted December 16, 2005 Can we go back talking about the demise of milkmen - my ex is now seeing a milkman (Mr. Perfect, Mr. Gulliable morelike), and I would love (bitter and angry mode) for them to be the major casualties of the coming global financial crisis... perhaps not! demise of milkmen is this why the uk birth rate is falling Quote Link to comment Share on other sites More sharing options...
deano Posted December 16, 2005 Share Posted December 16, 2005 I feel your pain! There's probably a correlation between more women at work and declining numbers of milkmen. Hmm. Might even be causation. Don't want milk left on doorstep all day. Yeah, I noticed a lot of babies liked drinking milk back then; like father like son eh!, no wonder the milky was always a happy wistling chappie. Quote Link to comment Share on other sites More sharing options...
liquid Posted December 16, 2005 Share Posted December 16, 2005 That's funny. What's also funny is that if you google 'veritas' it comes up with Veritas Party - The Official Website of the Veritas Party, The poltical party launched by Robert Kilroy-Silk whereas on said site itself of Mr K-S there is no trace. How come? It’s come to the stage where the gossip on this site is more interesting that the purpose of the site itself! What’s all this about Veritas?! Did I also read who owns the Fred? Is he to be burned at the stake or something? Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 It’s come to the stage where the gossip on this site is more interesting that the purpose of the site itself! What’s all this about Veritas?! Did I also read who owns the Fred? Is he to be burned at the stake or something? There is a rumour that Fred is owned by the Rothschilds! They use him to extract money from the world population (he has £483bn of government bonds....I know - in Salford! Unbelievable!). I remember Dr Bubb mentioned months ago that he went to Manchester on a business trip.....putting 2 and 2 together, that must mean that Dr Bubb is in fact ROBERT KILROY-SILK!!!! The plot thickens..... Quote Link to comment Share on other sites More sharing options...
aussieboy Posted December 16, 2005 Share Posted December 16, 2005 I think a better question is why do the government borrow money from private sources (i.e. bond investors) rather than simply create the money and spend it into the economy themselves? This way they would not have any interest to pay to private sources, they would not have any debt, and not have any interest to pay. Fantastic idea! After all, it worked so well for the Weimar Republic in Germany in the 20s. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted December 16, 2005 Share Posted December 16, 2005 My dad used to say I was the milkmans. ;-/ And he doesn't own the bank of england either Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 Fantastic idea! After all, it worked so well for the Weimar Republic in Germany in the 20s. That was caused by a massive oversupply of money, surely - leading to hyperinflation. You might care to note that HPI has been driven globally by oversupply of money - the difference is we have to pay interest to private corporations for today's oversupply. Whether money supply is private or public, inflation will result from an oversupply. The difference is with a private supply, you have to pay interest on top. It is effectively an outsourcing of money creation by the government, and seems like a damn expensive way of doing it. Quote Link to comment Share on other sites More sharing options...
aussieboy Posted December 16, 2005 Share Posted December 16, 2005 That was caused by a massive oversupply of money, surely - leading to hyperinflation. snip Quite. That's why I highlighted... "simply create the money and spend it into the economy themselves" ...in the quote in my post. That'll be the oversupply, then. Quote Link to comment Share on other sites More sharing options...
CrashConnoisseur Posted December 16, 2005 Share Posted December 16, 2005 P.s. Milkmen do NOT own the bank of england. [smell the Fear] Maybe they should, then it could become a cash cow. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted December 16, 2005 Share Posted December 16, 2005 P.s. Milkmen do NOT own the bank of england. [smell the Fear] Maybe they should, then it could become a cash cow. They haven't got the bottle. Quote Link to comment Share on other sites More sharing options...
BearLite Posted December 16, 2005 Share Posted December 16, 2005 They haven't got the bottle. Dairy me. You're milking it now. Quote Link to comment Share on other sites More sharing options...
rockdoctor Posted December 16, 2005 Share Posted December 16, 2005 911 was ACTUALLY a conspiracy by out-of-work milkmen. They also assassinated Kennedy and faked the moon missions. Masons = milkmen = moon missions = mentalists Quote Link to comment Share on other sites More sharing options...
frugalista Posted December 16, 2005 Share Posted December 16, 2005 Is this RFD-Veritas thing a wind up? I'm guessing it isn't from his reaction..... No wind up on my part. The evidence is in this forum and on the web for anyone to check. RFD has not confirmed or denied the claim that he is the former Veritas candidate. frugalista Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 Quite. That's why I highlighted... "simply create the money and spend it into the economy themselves" ...in the quote in my post. That'll be the oversupply, then. The idea is that you would create money that the economy needs to function - measure inflation and increase/decrease the money supply as and when required to prevent overly high/low inflation. Same as it is today, except that banks don't charge interest on all of the money in the economy...... Quote Link to comment Share on other sites More sharing options...
liquid Posted December 16, 2005 Share Posted December 16, 2005 No wind up on my part. The evidence is in this forum and on the web for anyone to check. RFD has not confirmed or denied the claim that he is the former Veritas candidate. frugalista A sense of humour certainly helps to be a member of the Veritas party. What made you decide to investigate? Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 A sense of humour certainly helps to be a member of the Veritas party. What made you decide to investigate? RFD would be wasted in politics. He should be a comedy sketch writer by rights. Quote Link to comment Share on other sites More sharing options...
aussieboy Posted December 16, 2005 Share Posted December 16, 2005 The idea is that you would create money that the economy needs to function - measure inflation and increase/decrease the money supply as and when required to prevent overly high/low inflation. Same as it is today, except that banks don't charge interest on all of the money in the economy...... Quite the opposite, actually. The UK no longer controls money supply: that's why the MPC sets a target interest rate. It's one or the other. At this point, I think I'll disengage. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted December 16, 2005 Share Posted December 16, 2005 Quite the opposite, actually. The UK no longer controls money supply: that's why the MPC sets a target interest rate. It's one or the other. At this point, I think I'll disengage. It's basically the same thing - they set a target inflation rate (I think this is what you are referring to, not interest rate). Inflation goes up if the money supply expands too much. They control the money supply today by raising or lowering interest rates. Quote Link to comment Share on other sites More sharing options...
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