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The Forum > General Discussion > Banks deposits no longer secure after G 20 meeting.

Banks deposits no longer secure after G 20 meeting.

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Off course the timing matters;
>According to this “urgent bulletin,” this warning is being made at the behest of Prime Minister Medvedev who earlier today warned against the Western banking systems actions against EU Member Cyprus by stating:

Here it is Bazz from the EU times. Had no trouble accessing it.

We all know what happened in December 2012/2013 but you presented it as current news
not a rehash of history.

I understand what is happening in the world economy. Energy has got too expensive to
support growth and that simple fact is distorting everything that the gurus of the
financial world do. It has caused demand decline which has affected credit I gather,
and the major oil companies are spending up to double times normal on exploration and
development, but getting very poor returns.
The financial world is functioning just like all people do when faced with something
unpalatable, they much prefer to ignore it.
The effects of the end of cheap energy trickles down everywhere.
This is the first time it has happened and no one has any experience of it.

Statements like this in your post;
>Our money has 20 times less value now than in 1970.Real inflation created by banks is 7% pa and growth is lucky to be 3% pa.

Are becoming meaningless.
I understand the 70 rule but money is not working like it once did.
Those financial rules are losing their reality, not all at once but
step by step. This why economists do not understand why austerity or pixel money are
not working like they used to do.
Posted by Bazz, Saturday, 22 November 2014 3:25:58 PM
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Bazz -

Austerity NEVER EVER aided an economy's recovery. It always did exactly what it'd doing now.

___________________________________________________________________________________________

Arjay -

What makes you think that real inflation is 7%?
Posted by Aidan, Saturday, 22 November 2014 5:20:22 PM
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Real rate of inflation is 7%. A beer and hamburger could be bought in 1970 for 25 cents. Today these same two products are well over $5.00. 500 divided by 25 = 20 times or 2000 %.Inflation like interest is compounding.Houses are over 100 times more expensive. Cars have halved in price but we spend the bulk of our money on shelter and food.

Using the compound formula for interest Aidan you get a compounding rate of inflation of 7%. Mathematically it is correct. Govt always lies to you. They exclude increased taxes to pay for debt from the inflation formula for good reasons. Try it Aiden, if you know some maths.

Bazz, logically I'm 100% correct on the wrongs of money being created as debt and don't give a stuff about what any of others think in terms of mute side points that distract from the bigger picture.
Posted by Arjay, Saturday, 22 November 2014 7:50:53 PM
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Arjay, I never said money wasn't created as debt but whether it is wrong I am not sure.
Certainly it is a bit like magic, bits of paper and ink and poof money to buy a car.
Oh well people have been arguing about that since Roman times or earlier.
Anyway printing money will not fix the problem, business as usual is finished.
Posted by Bazz, Saturday, 22 November 2014 9:01:56 PM
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Arjay,

Even for your non representative sample of a beer and a hamburger, what the AVERAGE inflation rate was over the past forty years doesn't tell us anything about what the CURRENT inflation rate is.

Didn't you know that inflation in the 1970s was much higher than it is now?
Posted by Aidan, Saturday, 22 November 2014 11:13:36 PM
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For the first time in 170 yrs the UK Parliament debates money creation. Very few parliamentarians turned up for this debate because they know who their masters are.

https://www.youtube.com/watch?v=EBSlSUIT-KM
Posted by Arjay, Sunday, 23 November 2014 6:29:51 AM
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