BritPat Posted July 30, 2011 Share Posted July 30, 2011 Makes you number 5 then as you have not answered the question. It doesn't exist until someone loans it against an instrument such as a Government bond. It is literally a sham, some of us in the west laugh at films where Native Indians or Africans marvel at some shell or shiny bauble our system is a better organised version of the same thing. Money is nothing more than an accounting device, notes and bonds are deemed to have value they have value purely because they are believed to be of value. The (believed value of notes and bonds allow them to be traded universally and they therefore bridge goods and services) A barber might want to purchase your car despite the fact that you are bald his value of his haircuts and your car are bridged by the magical notes. Link to comment Share on other sites More sharing options...
chem1st Posted July 30, 2011 Share Posted July 30, 2011 Money & currency should be a store of wealth. Currently neither are. The system has no legitimacy. £ sterling is a joke. Cash in hand work should be encouraged. Barter etc. Link to comment Share on other sites More sharing options...
citroen999 Posted July 30, 2011 Share Posted July 30, 2011 its all a con... money is lent out at interest... but is impossible to pay back Some economists point out that money lent into existence would be impossible to totally repay because only the principal was lent into circulation but the principal plus interest has to be paid back.. you cant pay back more than what is lent out!! which means.. imagine there is no money and i control it. i give you £10 but i want £11 back in one month... where will the £1 interest come from? nowhere!! so you dont pay me back, i take your possesions etc.. so lets say i lend 10 people £10 each, and between them some have a service or skill the other requires so they pay them a £1 fee/wage. These guys are now able to pay their interest, but the guy who had nothing to offer is now £2 in debt.. its all about shoving the money up the hill to the next guy, who then shoves it further.. when you cant shove any more you go bust... you cant pay back more than what is lent out!! Link to comment Share on other sites More sharing options...
andyofborg Posted July 31, 2011 Share Posted July 31, 2011 Money & currency should be a store of wealth. Currently neither are. The system has no legitimacy. yes, they are and they are very legitimate £ sterling is a joke. no it isn't, it is likely to be an increasingly important reserve currency Cash in hand work should be encouraged. Barter etc. no it shouldn't Link to comment Share on other sites More sharing options...
JFKvsNixon Posted July 31, 2011 Share Posted July 31, 2011 Cash in hand work should be encouraged. Barter etc. So how would you barter with the surgeon to take your appendix out? Remember with cash in hand work the state would struggle to fund the surgeon through taxes. Link to comment Share on other sites More sharing options...
retep Posted July 31, 2011 Share Posted July 31, 2011 The Money System Explained Link to comment Share on other sites More sharing options...
chem1st Posted July 31, 2011 Share Posted July 31, 2011 So how would you barter with the surgeon to take your appendix out? Remember with cash in hand work the state would struggle to fund the surgeon through taxes. Even with taxes, the state struggles to fund itself. You could barter with a private surgeon. Maybe travel to Cuba for the operation. Link to comment Share on other sites More sharing options...
mossdog Posted July 31, 2011 Share Posted July 31, 2011 it grows on treesOnly Socialist ones though! Link to comment Share on other sites More sharing options...
chem1st Posted July 31, 2011 Share Posted July 31, 2011 yes, they are and they are very legitimate Negative real interest rates. The value of sterling is being eroded by inflation. no it isn't, it is likely to be an increasingly important reserve currency The £ has further been devalued by over 20% against other countries currencies in the past few years. It is likely to be a decreasingly important reserve currency. no it shouldn't Why? The £ is a scam, you should avoid trading in it wherever possible. Link to comment Share on other sites More sharing options...
chem1st Posted July 31, 2011 Share Posted July 31, 2011 its all a con... money is lent out at interest... but is impossible to pay back Some economists point out that money lent into existence would be impossible to totally repay because only the principal was lent into circulation but the principal plus interest has to be paid back.. you cant pay back more than what is lent out!! which means.. imagine there is no money and i control it. i give you £10 but i want £11 back in one month... where will the £1 interest come from? nowhere!! so you dont pay me back, i take your possesions etc.. so lets say i lend 10 people £10 each, and between them some have a service or skill the other requires so they pay them a £1 fee/wage. These guys are now able to pay their interest, but the guy who had nothing to offer is now £2 in debt.. its all about shoving the money up the hill to the next guy, who then shoves it further.. when you cant shove any more you go bust... you cant pay back more than what is lent out!! The money lender can pay the debtor an annual salary of £1, in order to allow him a way of paying back the money. The person in debt is a slave. Link to comment Share on other sites More sharing options...
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