The first domino?

[Tarw Coch]

Only one banker was jailed in UK, I believe. Tom Hayes from UBS, jailed for his part in rigging LIBOR, got out last year

Didn’t Nick Leeson do time as well, was it bearings bank, I’m sure I’ve spelt that wrong

 

[livestock 1]

Didn’t Nick Leeson do time as well, was it bearings bank, I’m sure I’ve spelt that wrong

Think he was in poor health I think

 

[Tarw Coch]

Think he was in poor health I think

Yes, that rings a bell, several years ago now

 

[serf]

Didn’t Nick Leeson do time as well, was it bearings bank, I’m sure I’ve spelt that wrong

That wasn't to do with the 2008-09 crowd though, think he was chasing a bad debt he had created at barings on the markets and chased his tail to oblivion .

 

[Tarw Coch]

That wasn't to do with the 2008-09 crowd though, think he was chasing a bad debt he had created at barings on the markets and chased his tail to oblivion .

Yes, I remember now, though it was longer ago than 2008

 

[texelburger]

Everything seems so expensive,cars property,energy,food yet everywhere I look people are buying and buying.Young couples with ordinary jobs buying new,smart houses along with a huge 4 WD parked up outside and ,I guess,all on finance.Ever since furlough people seem to expect more money for less work,money has been cheap and the young generation seem to spend ,spend,spend.
Will the bubble burst ? Absolutely it's just a matter of when.

 

[br jones]

I don’t know the exact figure but here it goes, heard it on a podcast
40% of America’s money has been created in the last 12 months

1/4 of all money created since 2008

 

[tullah]

Simple... but if everyone is in debt then who are we in debt to?

 

[Fake it ‘til you make it]

Simple... but if everyone is in debt then who are we in debt to?

I think the answer is to private banks, who bought the central bank debt (lent money to central banks) with money that central banks “printed” and lent them. I think..

 

[tullah]

So was money printed to be lent to keep everything nicely ticking over?

 

[Deereone]

Simple... but if everyone is in debt then who are we in debt to?

We're not.

The banks produce ones and zeros on a computer screen and that is what you are being lent. It is a fraudulent system.
If you don't repay they will take your bricks and mortar to replace the numbers they conjured up on a screen.

 

[caveman]

When you borrow money from a bank, you "give them back" money they never had in the first place.

 

[Mccormick 94]

We're not.

The banks produce ones and zeros on a computer screen and that is what you are being lent. It is a fraudulent system.
If you don't repay they will take your bricks and mortar to replace the numbers they conjured up on a screen.

And the moment the masses realise its all a load of fantasy money and that the system is insane is probably about the same time as the whole house of cards comes tumbling down!

 

[tullah]

And the moment the masses realise its all a load of fantasy money and that the system is insane is probably about the same time as the whole house of cards comes tumbling down!

So it's knowing when it's all going to go mad is key. What's best to have money tied in prior to it going bang and more importantly knowing when to leave the party before the herd. So to be one ahead one needs to know how the herd think and to know what it will take for them to jump. Bearing in mind there'll be no logic to it all, it makes the whole exercise a challenge. And no I havent just downed a scotch.

 

[serf]

 

[hoff135]

Whats the odds of banks skimming off peoples saving in the event of disaster? So called bail in?

 

[Fake it ‘til you make it]

So it's knowing when it's all going to go mad is key. What's best to have money tied in prior to it going bang and more importantly knowing when to leave the party before the herd. So to be one ahead one needs to know how the herd think and to know what it will take for them to jump. Bearing in mind there'll be no logic to it all, it makes the whole exercise a challenge. And no I havent just downed a scotch.

Gold is the traditional asset to try and hold onto value when shares etc take a nose dive

 

[Steevo]

Simple... but if everyone is in debt then who are we in debt to?

The banks can lend out multiples times the amounts of money they have invested with them.

 

[Steevo]

Everything seems so expensive,cars property,energy,food yet everywhere I look people are buying and buying.Young couples with ordinary jobs buying new,smart houses along with a huge 4 WD parked up outside and ,I guess,all on finance.Ever since furlough people seem to expect more money for less work,money has been cheap and the young generation seem to spend ,spend,spend.
Will the bubble burst ? Absolutely it's just a matter of when.

Plenty with company cars too.

 

[serf]

Whats the odds of banks skimming off peoples saving in the event of disaster? So called bail in?

Gov meant to cover 80k in each banking group