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the_austrian

It's Lucky We Have A Central Bank Otherwise High-street Banks

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People are willing to leave their money on deposit in member banks because they know the central bank would bail out the banking system in the event of a run on reserves.

Edited by the_austrian

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The central bank is a private bank.

The 1946 act was a paper shuffling exercise.

Thanks... title changed (From Private Banks to High-Street Banks)!!

Edited by the_austrian

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It's lucky we have a central bank otherwise home-owners wouldn't be able to make £85 per day.

http://workinproperty.blogspot.com/2007/06...85-per-day.html

Home Owners Making £85 per day

The latest House Price Index released by the Department of Communities and Local Government (CLG) confirm that the UK Property market remains healthy, despite the most recent interest rate rises. According to the report, the mix-adjusted UK house price rose from £206,890 in March 2007 to £209,454 in April, not accounting for seasonal adjustments. This means that if you own a home you could be making £85 per day.

For the quarter up to April, the annual house price inflation rate was 11.3 per cent across the country, with the figure in the capital 14.7 per cent, the index also showed.

Commenting on today's figures, David Stubbs, a senior economist at the Royal Institute if Chartered Surveyors (Rics), said: "These numbers confirm that the housing market was in rude health at the start of the second quarter. "These figures also emphasise the broad nature of the prices rises, with every region of England seeing rises of over 7 per cent in the year to April. As this is faster than earnings are rising, it indicates that first time buyer affordability continues to worsen across the country."

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The central bank is a private bank.

The 1946 act was a paper shuffling exercise.

What make you say that? The Treasury is the only shareholder.

All profits from Note issue go to the Treasury.

50% of the profits of the banking functions got to the Treasury.

The other 50% go directly into reserves.

It's all in the annual report.

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The latest House Price Index released by the Department of Communities and Local Government (CLG) confirm that the UK Property market remains healthy, despite the most recent interest rate rises. According to the report, the mix-adjusted UK house price rose from £206,890 in March 2007 to £209,454 in April, not accounting for seasonal adjustments. This means that if you own a home you could be making £85 per day.

Well look at that...

They don't look at the seasonal adjustments in the months where the adjustment is down, but do when the adjustment is up.

Let's see what happens as march turns to april and all the winter upward adjustments unwind in these 2 months.

Off Topic for this thread, sorry, but I just noticed it and had to say something. :angry:

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  • 297 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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