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Banks Create Fiat Out Of Thin Air And Then Charge Interest.........Yet the Public Flock To Borrow.........


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See, this is what I don't understand about Western countries who have a sh1t load of intelligent people.

Why is it that, when money and finance are involved, many of the smartest people in the Western world fall apart and act like village idiots?

The current banking system is a sleight of hand that manipulates the public by using worthless, created with a signature, fiat as the end stop of value and worth, when the reality is that fiat is backed by...........nothing at all in 2020.  Nothing. 

With that in mind, govenments and states have to play the charade too and demand tax paid in worthless fiat, otherwise people who sell their time for worthless fiat would loss faith in it and give up.  It's all embarrassingly pathetic, but then, that's Western (American) consumer capitalism for you. 

Just think of all those desperate people who crawl to a bank for a mortgage and the bank laughs and gives them.....................fook all of any worth......................and then demands interest paid in more worthless fiat for 25/30/35 years...........lol

 

FFS, the British and American 'dream wasp model' is looking about as much use a chocolate fireguard in 2020................it had a good run up until 1989 though.

 

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Just think of all those desperate people who crawl to a bank for a mortgage and the bank laughs and gives them.....................fook all of any worth......................and then demands interest paid in more worthless fiat for 25/30/35 years...........lol

For most people of they do not want to get a loan to buy a house they have 3 choices.

1 Rent for ever - which makes saving enough to buy very difficult

2 save the cash and buy

3 Ask rich parents for money to buy in cash

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See, this is what I don't understand about Western countries who have a sh1t load of intelligent people.

Why is it that, when money and finance are involved, many of the smartest people in the Western world fall apart and act like village idiots?

The current banking system is a sleight of hand that manipulates the public by using worthless, created with a signature, fiat as the end stop of value and worth, when the reality is that fiat is backed by...........nothing at all in 2020.  Nothing. 

With that in mind, govenments and states have to play the charade too and demand tax paid in worthless fiat, otherwise people who sell their time for worthless fiat would loss faith in it and give up.  It's all embarrassingly pathetic, but then, that's Western (American) consumer capitalism for you. 

Just think of all those desperate people who crawl to a bank for a mortgage and the bank laughs and gives them.....................fook all of any worth......................and then demands interest paid in more worthless fiat for 25/30/35 years...........lol

 

FFS, the British and American 'dream wasp model' is looking about as much use a chocolate fireguard in 2020................it had a good run up until 1989 though.

 

We are all to busy fighting each other for the leftover scraps to notice the sleight of hand.

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A money system is loosely analogous to a language.

The money tokens are intrinsically worthless; individual words are essentially meaningless noises.

However in both cases there is a social convention, a mutual agreement.

We agree to accept each others money tokens; likewise we agree to mean the same thing by the same word.

Now imagine a world in which the only words allowed must be rented from "commercial dictionaries."

This is clearly absurd, but the analogous absurdity of renting our money tokens from commercial banks is all too real.

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See, this is what I don't understand about Western countries who have a sh1t load of intelligent people.

Why is it that, when money and finance are involved, many of the smartest people in the Western world fall apart and act like village idiots?

Smart and financially savvy are two separate things.. I know people earning 6 figures in a variety of roles who haven't the slightest clue about investing and wonder why they can't retire. Going to work and not knowing about finances is like watching comedy and not understanding the jokes.. Comical really.

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Exactly. A tried and tested approach that seems to work almost all the time in Britain.

Remain vs leave 

"Scroungers" vs hard working people 

Home owners vs renters

North vs South 

Public sector vs private sector 

Millennial vs Boomer

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A money system is loosely analogous to a language.

The money tokens are intrinsically worthless; individual words are essentially meaningless noises.

However in both cases there is a social convention, a mutual agreement.

We agree to accept each others money tokens; likewise we agree to mean the same thing by the same word.

Now imagine a world in which the only words allowed must be rented from "commercial dictionaries."

This is clearly absurd, but the analogous absurdity of renting our money tokens from commercial banks is all too real.

Exactly how I see money. A common language of value.

A chicken farm paying for expansion of land and new facilities with 10,000 eggs over 5 years isn't practical at all.

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The chickens will come home to roost. They always do. We will eventually see inflation and higher rates 

Over the last 20+++ years the magic money has produced inflation in assets, eg housing.  The balancing act in the old days was worker pricing power, eg unions, little immigration and little offshoring.  That side of the equation has gone.  When workers had pricing power the game was for goods and services providers to get ahead of them by pushing prices up but then the workers got uppity and so it went, At that time in history the government and BOE for eg took a lot of notice of wage inflation and applied higher interest rates to beat it back down. 

The application of magic money and pretend low inflation was seen as a way for the big boyz to chase speculative profits without restraint and this is what has happened and various governments and central banks have obliged them with truck loads of magic £$£.  They never saw the endgame, they never do, its about getting rich now and bugger the future and nor does it affect the big boyz if cost of living inflation goes skywards, they now own everything and will profit from being rentiers.

Edited by steve99
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  • 439 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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