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El_Pirata

How We Are Indoctrinated With Debt Culture

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"Bank minutes build rate cut hopes" says the Beeb.

"Hopes of cheaper borrowing in the New Year have been boosted by news that a member of the Bank of England voted to cut rates this month."

http://news.bbc.co.uk/1/hi/business/4550328.stm

Would they ever talk of rate rise hopes? I am a saver, so that is what I am hoping for.

Also why is the headline not "rates may be cut on fears of weak economy." That is the real story here. But not the one you'll hear from the Brown Broadcasting Corporation.

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"Bank minutes build rate cut hopes" says the Beeb.

"Hopes of cheaper borrowing in the New Year have been boosted by news that a member of the Bank of England voted to cut rates this month."

http://news.bbc.co.uk/1/hi/business/4550328.stm

Would they ever talk of rate rise hopes? I am a saver, so that is what I am hoping for.

Also why is the headline not "rates may be cut on fears of weak economy." That is the real story here. But not the one you'll hear from the Brown Broadcasting Corporation.

The pound dropped almost 3 cents against the dollar today on the news that just one of 8 of the BoE Muppets voted fro a drop in IR. The only thing propping up the pound is high rates relative to the USD and the EURO. The pound has a long history of terrifying crashes and seems to do so whenever there is a house price correction. Houses first then the pound. This time it may be different: the pound first then the houses. I am long on the US $ and have more confidence in that economy than the UK which is at the end of the long boom cycle that has been based on debt and inflationary house prices.

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The privilege held by the banks of being allowed to create money out of thin air would become useless. You and I have to earn our money, the banks don't have to earn money, they make it. You and I are not allowed to do that. And thus we have a system of issuing new money into circulation at a rate which is controlled by interest rates.

The rate at which new money is issued into circulation is determined by the rate at which people can be seduced into borrowing money whilst paying a toll for its use.

If the toll is too high they will not borrow.

If the toll is too low they will borrow too much.

As a result the health of the economy is measured in terms of how much confidence people have in borrowing money.

This is the feel good factor.

http://www.monetaryreform.org/money/index.htm

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"Bank minutes build rate cut hopes" says the Beeb.

"Hopes of cheaper borrowing in the New Year have been boosted by news that a member of the Bank of England voted to cut rates this month."

http://news.bbc.co.uk/1/hi/business/4550328.stm

Would they ever talk of rate rise hopes? I am a saver, so that is what I am hoping for.

Also why is the headline not "rates may be cut on fears of weak economy." That is the real story here. But not the one you'll hear from the Brown Broadcasting Corporation.

high/rising house prices and low/falling IRs...

it's like a chap high on ecstasy... he thinks its the most wonderful thing ever and correctly attributes his current euphoria to it. However, there is no way of avoiding the inevitable comedown, no matter how many of the little things he swallows.

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We no have two competing mindsets:

1. The monetarists who like to periodically see the excess debt-money wrung out of the economy in a credit crunch, suddenly leaving many without money, work or means of supporting themselves while the rich hoover up the remains like vultures.

2. The inflationists who think plunging people into sickening debts while masking the massive inflation caused by their policies of letting banking run amok should be allowed to go on and on and on. This is even to the point of propping up the whole house of cards with tax money (£250 for each kid into the Stock Market via child trust funds, shared ownership schemes, public sector make-jobs when the economy starts suffocating on debt).

Both are terrible side-effects of money created as debts to private banks.

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BBC2, interlude after "Dragon's Den Revisited":

"If you have a business idea, you can check the latest interest rates and loan information on BBC interactive"

??????

Public enquiry required - something is VERY WRONG at the BBC.

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  • 301 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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