New years Eve/Christmas

Hindsight

Member
Location
Lincolnshire
Another lockdown, maybe, but surely the country can't afford another round of furlough, self-employed grants, eat out to help out etc etc?

No it can't. And that I assume is why poor old Boris (and I do mean poor old) is saying there will not be a full lockdown. Its lookin pretty clear that another lockdown with pubs and hospitality closing will be the death knell for many businesses and the resultant redundancies. Many will occur anyway. But I suspect the Tories are trying to eake out the redundancies over a longer period of time. But it looks to me that football clubs, rugby, theartes etc are on the verge of going under. Hey ho.
 

Pasty

Member
Location
Devon
The money doesn’t actually exist. It’s being borrowed by ourselves, from ourselves, printed by ourselves and is owed to ourselves. Given that inflation only reduces the debt that we owe to us, printing more just means that the amount we owed ourselves from before is now less, or something.
Most don't get this. Most think you go to your bank to borrow money and they drag it out of the vault. They don't. They print it. It costs them nothing and makes them a fortune when you pay it back. It never existed until it lands in your account and then you are on the hook for it. The problem with Fractional Reserve Banking is that now they can't create inflation as technology is advancing exponentially and forcing the price of just about everything down.

In my opinion, COVID may be part of this as they need a 'new normal' and a 'great reset'. I predict that national banks will create their own crypto currencies, thereby banishing cash but they won't be limited in supply as Bitcoin is so they can just start the whole game again.
 

arcobob

Member
Location
Norfolk
If they all belonged to one federal European state it would not be a significant problem. They could all sink or swim together and nobody would notice the difference.
 

caveman

Member
Location
East Sussex.
Most don't get this. Most think you go to your bank to borrow money and they drag it out of the vault. They don't. They print it. It costs them nothing and makes them a fortune when you pay it back. It never existed until it lands in your account and then you are on the hook for it. The problem with Fractional Reserve Banking is that now they can't create inflation as technology is advancing exponentially and forcing the price of just about everything down.

In my opinion, COVID may be part of this as they need a 'new normal' and a 'great reset'. I predict that national banks will create their own crypto currencies, thereby banishing cash but they won't be limited in supply as Bitcoin is so they can just start the whole game again.
Does make one wonder why "they" have started banging on about how much cash Sterling is out there that "they" can't find. Did I hear correct? £15 billion?
 

SFI - What % were you taking out of production?

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