Damp squib budget

Martinghoul,...Please explain how it really works, for us silly folk,..thanks : )
I'm all ears,...or eyes,...ah hum,..
 
Let's give N. Ireland, Wales and Scotland the independence that they so much desire, that should save the English taxpayer a bob or two.

Reconstruct/modify/refurbish Adrians wall, and build another wall along the Welsh border.

Now let's see who doesn't like the English!!!
 
Re: Mister Ten Percent

I'd abolish the TV licence & fee, but still protect the BBC's income, as that is one bit of "public" money that is mostly well-spent.


I worked for the BBC in manchester mate when i was training for my Accountancy
qualification when i was younger and used to do the expenses for each
department. Well in the article below i had to do the expenses for the party
involved in the department and ther was 40 people there and the bill came to
£60'000. 1500 quid per person for a slap up meal, free beers and dont forget the taxi
bills for each and every one of them home. One taxi bill was for 2 execs to go back
to London the same night and was about £1200. It wa cheaper to get hotels and train
tickets the next day.

They been getting away with this for years and they were some of the best parties
i went to. Why should they change now, they were on the gravy train long before the
public got wind of the government.

http://findarticles.com/p/articles/mi_qn4161/is_19981220/ai_n14481975/

Ged
 
Martinghoul,......firstly explain in what context do you mean I'm silly (I'm silly in a lot of ways)
And I'd like your take on how our money system works,..if you please !
 
Hilarymannah said:
Martinghoul,......firstly explain in what context do you mean I'm silly (I'm silly in a lot of ways)
And I'd like your take on how our money system works,..if you please !
Click to expand...
Well, this comment of yours is very silly, in my view:
Hilarymannah said:
It's a mathematical impossibility to pay off borrowed money at interest ! (Usury),...and that's before we get into the derivative markets,......
Click to expand...

As to my take on how the money system works, that could take a while. I would be happy to address any specific questions/issues, as this might be a better way of doing this.
 
Okay Marty !,....If I put £100 into the pot,...how would you give me back £110 ?
(If, only £100 is available)
1. Do you borrow more money(at interest)
2. Do you tell me to shove it (and I have to send in the boys, to claim assets to the value)
Really,...I'm intrigued ; )
This is big picture scenario (macro level),..so don't hit me with the " I payed off my credit card debt, plus interest",..scenario
BTW: If you re-read meanaversions explanation more fully, he explains it quite well, me thinks
 
Hilarymannah said:
Okay Marty !,....If I put £100 into the pot,...how would you give me back £110 ?
(If, only £100 is available)
1. Do you borrow more money(at interest)
2. Do you tell me to shove it (and I have to send in the boys, to claim assets to the value)
Really,...I'm intrigued ; )
This is big picture scenario (macro level),..so don't hit me with the " I payed off my credit card debt, plus interest",..scenario
BTW: If you re-read meanaversions explanation more fully, he explains it quite well, me thinks
Click to expand...
But that's absurd... If there's only £100 available, why would I want your £100 in the first place? Don't you think that the only reason I would ever borrow £100 is that I can generate a return on this in excess of the 10% I have to pay you? If I can't, fine, I will go bust, but that's not what I am assuming a priori.

The thing that you and meanie both seem to be blithely ignoring is that we live in a system where actual economic activity is occurring. You can't look at just one side of a ledger; that's not how accounting works, y'know?
 
Martinghoul,....I'm only kiddn' with ya,..
I know you're not "really" daft,...it's a big act,..I know this,..hehe
 
Re: Mister Ten Percent

gedward3 said:
I worked for the BBC in manchester mate when i was training for my Accountancy
qualification when i was younger and used to do the expenses for each
department. Well in the article below i had to do the expenses for the party
involved in the department and ther was 40 people there and the bill came to
£60'000. 1500 quid per person for a slap up meal, free beers and dont forget the taxi
bills for each and every one of them home. One taxi bill was for 2 execs to go back
to London the same night and was about £1200. It wa cheaper to get hotels and train
tickets the next day.

They been getting away with this for years and they were some of the best parties
i went to. Why should they change now, they were on the gravy train long before the
public got wind of the government.

http://findarticles.com/p/articles/mi_qn4161/is_19981220/ai_n14481975/
Click to expand...

Yes, I guess there is a lot of that; like the Private Eye cartoons ... "trebles all round".
I think it goes with the territory to some extent, private and public.
My daughter was working (definitely not at the top) for a media company in Amsterdam (they are also in the UK and are the same here). The people at the top were paid silly money and had wildly extravagant expenses. Part of my daughter's job was the admin for these expenses and to organise dinners and similar events. No doubt the people in question probably worked hard (and were hard-wired to their Blackberries), but they partied hard as well, and it all got charged to the client.
 
Okay Marty !,....If I put £100 into the pot,...how would you give me back £110 ?
Click to expand...

Quite simple really in that he just goes to someone who prints an extra £10.


Paul
 
Trader333,..."Quite simple really in that he just goes to someone who prints an extra £10."

And that's exactly how it works,..at interest of course.
Result: He now owes £120 plus £2 (from the £10) ,... easy huh !
£12 interest (so far) for the hard of thunking
Now,..how will he pay the £12 pound from a £110 pound pot,...or are you talking of "counterfeiting" ?
Counterfeit = Non authorized printing of fiat currency. : )
 
Trader333 said:
Quite simple really in that he just goes to someone who prints an extra £10.
Paul
Click to expand...
No, that's incorrect... See my response to young Hilarius earlier in the thread.
Hilarymannah said:
Trader333,..."Quite simple really in that he just goes to someone who prints an extra £10."

And that's exactly how it works,..at interest of course.
Result: He now owes £120 plus £2 (from the £10) ,... easy huh !
£12 interest (so far) for the hard of thunking
Now,..how will he pay the £12 pound from a £110 pound pot,...or are you talking of "counterfeiting" ?
Counterfeit = Non authorized printing of fiat currency. : )
Click to expand...
You're still being silly, I see, young Hilarius... It's all good; suit yourself.
 
I think it's pretty simple. New money has to be created in order to pay the interest on existing loans. It can't work any other way.

Forget "economic activity". If you have a fixed amount of money and new goods are produced (someone creates something) the value of money will go up relative to "things produced" (=deflation), as long as the fiat money is legally enforced by the democratic government (which it always will be).

I really don't see fractional reserve banking as a con, but I know there are others with an opposing point of view.
 
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