ballaughbiker Posted March 30, 2018 Share Posted March 30, 2018 Quote so your point is baseless...... Hardly.... as we were talking about pre-referendum with the clear implication what could/would be done with EU money in the case of an out vote. The point remains that it was a very well planned and executed deceit and any subsequent action will not change that. Link to comment Share on other sites More sharing options...
woolley Posted March 30, 2018 Share Posted March 30, 2018 1 hour ago, ballaughbiker said: 3) A time-limited period of a reduced value £ whilst staying in the customs union and single market. Sterling is back within a couple of cents of where it was in early 2016 now against the dollar. Not against the euro, but nobody trusts the long term stability of the euro with all of its hangups. Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted March 30, 2018 Share Posted March 30, 2018 1 hour ago, Rog said: But I'm not. I'm deadly serious. No you're not You'll be banging on about rivers of blood and lines in the sand, not truth but victory and they cannot take our freedom next. Link to comment Share on other sites More sharing options...
ballaughbiker Posted March 30, 2018 Share Posted March 30, 2018 Edit : in reply to the penultimate post True but it is the € which is relevant here. We are not in a customs union and single market with any $ country. Looking at the € to £ rate, it looks like its the £ that has the hangups that started the day after the result. Link to comment Share on other sites More sharing options...
P.K. Posted March 30, 2018 Share Posted March 30, 2018 6 hours ago, quilp said: That fake news about the £350m was quickly debunked. As were other fallacious claims. Yet thereafter, even with a sophisticated and choreographed big budget 'Remain' campaign, the disgusting, xenophobic, thick as pig-shit, daily-wail-reading plebs still voted with their hearts and were duly rewarded. What's this, "it's not my fault" thing? "...Brexiteer's ringing in to LBC make themselves sound really stupid. It makes for good radio though." More casual intellectual snobbery... I view "More casual intellectual snobbery" as just another soundbite. Similar to "Xenophobic, thick as pigshit, Daily Wail reading Little Englanders" which you are clearly struggling to let go. After a year? Maybe you should take a break.... Link to comment Share on other sites More sharing options...
woolley Posted March 30, 2018 Share Posted March 30, 2018 1 hour ago, ballaughbiker said: Edit : in reply to the penultimate post True but it is the € which is relevant here. We are not in a customs union and single market with any $ country. Looking at the € to £ rate, it looks like its the £ that has the hangups that started the day after the result. The dollar will be more important in the future. Common knowledge that the euro is artificially pumped up for political reasons. It's part of the "project" and can't be allowed to collapse. (Until it does.) Link to comment Share on other sites More sharing options...
pongo Posted March 30, 2018 Share Posted March 30, 2018 2 hours ago, woolley said: Sterling is back within a couple of cents of where it was in early 2016 now against the dollar. Not against the euro, but nobody trusts the long term stability of the euro with all of its hangups. GBP tracks the EUR relative to USD. 4 hours ago, Rog said: The cut short period of austerity was and remains essential, initially to redress the Blair / Brown smoke and mirrors game of artificially increasing the UK GDP by issuing Gilts and using the money to buy votes while the increased GDP resulted in the costs of servicing government debts were kept down by the artificially raised GDP. QE has demonstrated, once and forever, that the state (in this case govt policy + central bank) can create and destroy modern money at will. Private banks create liquidity by lending it. From that they take their profits. That's how fractional reserve works. But really of course this should be the business of government (ie us) - or, at least, govt (ie us) should be collecting the receipts. Money creation should not be in private hands. When money is created we should all benefit. Talking about govt borrowing, you always have to ask yourself where the govt borrowed, what they actually borrowed - and who gave the lenders the right to create what was lent. That's the reality of your smoke and mirrors. There is absolutely no reason for govt to need to 'borrow' at all. They could simply spend. In a modern economy government can create liquidity by spending it. And provided an equivalent amount is collected back in taxes there will be no inflation. Fractional reserve will still mean there being more liquidity in the system. This is not a household budget. Banks do not lend deposits and money is entirely virtual. The Bank of England explains this very well here: Quote This article explains how the majority of money in the modern economy is created by commercial banks making loans. Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits. Link to comment Share on other sites More sharing options...
woolley Posted March 30, 2018 Share Posted March 30, 2018 I agree with a lot of what you say about modern money in general, Pongo, but that is a whole different (and huge) subject. Not quite sure what you mean by GBP tracks the EUR relative to USD. Each has its exchange rate against the others. None are pegged. Link to comment Share on other sites More sharing options...
pongo Posted March 30, 2018 Share Posted March 30, 2018 16 minutes ago, woolley said: The dollar will be more important in the future. Common knowledge that the euro is artificially pumped up for political reasons. It's part of the "project" and can't be allowed to collapse. (Until it does.) Do you really imagine that the USD is somehow more transparent or less political? If anything it's very much less transparent. But it's certainly equally political. If it wasn't nobody would trust it. But it's irrelevant. Modern money is political. That's why the EU has to be a political project. The fact that the EUR is a political project is one of the main reasons why it has so quickly become established as a major reserve currency. Link to comment Share on other sites More sharing options...
pongo Posted March 30, 2018 Share Posted March 30, 2018 2 minutes ago, woolley said: Not quite sure what you mean by GBP tracks the EUR relative to USD. Each has its exchange rate against the others. None are pegged. It's mostly because our economy tracks and is a part of the European economy in general. Something which is not going to change. Link to comment Share on other sites More sharing options...
Rog Posted March 30, 2018 Share Posted March 30, 2018 1 hour ago, Bobbie Bobster said: No you're not You'll be banging on about rivers of blood and lines in the sand, not truth but victory and they cannot take our freedom next. Bobby, if you think for a New York Second that I'm not deadly serious then you're making a huge mistake. You and a few others man not be willing or even able to realise that there are people holding the same views that I express or that the numbers are increasing big-time but such is indeed the case As for the best PM that Britain never had there are increasing parts of our major towns and cities, not just major towns, even Great Yarmouth is not immune that HAS no go areas and that entering them, especially at nite is more than likely to result in YOUR blood flowing in the gutter. Bobby, you and others have a very great deal to learn about Britain today. Link to comment Share on other sites More sharing options...
Rog Posted March 30, 2018 Share Posted March 30, 2018 5 minutes ago, pongo said: It's mostly because our economy tracks and is a part of the European economy in general. Something which is not going to change. If such was to be the case, and I do not believe it does, then any hard association with the Euro better be broken and very soon because the days of the ECB are definitely numbered. Link to comment Share on other sites More sharing options...
woody2 Posted March 30, 2018 Share Posted March 30, 2018 2 hours ago, ballaughbiker said: Hardly.... as we were talking about pre-referendum with the clear implication what could/would be done with EU money in the case of an out vote. The point remains that it was a very well planned and executed deceit and any subsequent action will not change that. not at all.... and when the uk stops paying the £49 billion per year to the eu, the better..... Link to comment Share on other sites More sharing options...
ballaughbiker Posted March 30, 2018 Share Posted March 30, 2018 Oh yeah? what year was that? Link to comment Share on other sites More sharing options...
pongo Posted March 30, 2018 Share Posted March 30, 2018 33 minutes ago, Rog said: If such was to be the case, and I do not believe it does, then any hard association with the Euro better be broken and very soon because the days of the ECB are definitely numbered. Hard association ? What's that? Did you make it up? So it's a technical point I was making. Though it's markets and market sentiment which determines that the GBP roughly tends to rise and fall with the EUR relative to the USD. And a reflection of the extent to which the UK economy is a part of the European economy in general. If you want that to change then the economy needs to actually demonstrate an alternative. It's not something you can wish for. Link to comment Share on other sites More sharing options...
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