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    how is your credit card bill looking? as bad as this?

    21 Comments

    Original Poster

    Edited by: "Chrissieboy" 30th Mar 2011

    Banned

    bit?

    Original Poster

    bykergrove

    bit?



    oops, fixed and changed link.

    Banned

    Chrissieboy

    oops, fixed and changed link.


    HOLY ****!

    Chrissieboy

    Holy Sh!t indeed!Heres the UK … Holy Sh!t indeed!Heres the UK one.[url=http://www.debt-clock.org/]http://www.debt-clock.org/[/url] (OR) http://www.debtbombshell.com/but both are over £900 Billion!


    thats how much i earn in a year!

    ok seriously though...dumbest question ever.....but who are we in debt to??

    Chrissieboy

    Holy Sh!t indeed!Heres the UK … Holy Sh!t indeed!Heres the UK one.[url=%0Ahttp://www.debt-clock.org/]http://www.debt-clock.org/[/url] (OR) http://www.debtbombshell.com/but both are over £900 Billion!



    One of them isn't right, one currently £9.34 bill other £9.09 bill
    Edited by: "shauneco" 30th Mar 2011

    Original Poster

    yeah i noticed that, hence i put both up.

    Original Poster

    The Fed is a privately owned bank, the lender of the last resort, as is the BoE to my understanding.

    As far as i understand (please correct me if i'm wrong) we owe the money to these central banks, which are all owned by private investors.
    Trying to find out who has shares in these banks isn't easy, but the Rothschild's have a stake in the BoE as far as i can figure out (but again info is sketchy, so correct me if wrong).

    Chrissieboy

    The Fed is a privately owned bank, the lender of the last resort, as is … The Fed is a privately owned bank, the lender of the last resort, as is the BoE to my understanding.As far as i understand (please correct me if i'm wrong) we owe the money to these central banks, which are all owned by private investors.Trying to find out who has shares in these banks isn't easy, but the Rothschild's have a stake in the BoE as far as i can figure out (but again info is sketchy, so correct me if wrong).




    I think the International Monetery Fund is the last "bank" as they have the final say on whether you are allowed to print money or not. Again i could be mistaken...........i always am lol

    Chrissieboy

    watch … watch this:[url=http://www.youtube.com/watch?v=sjIQKxFJ2_g]http://www.youtube.com/watch?v=sjIQKxFJ2_g[/url]



    i couldnt overly follow it/got annoyed by how american he was.

    Original Poster

    magicbeans

    i couldnt overly follow it/got annoyed by how american he was.



    Yeah, very American (Loud & Annoying!).
    But it makes a good point about just pumping money into the system to help, doesn't work long term.
    Because in creating that $1 trillion (out of nothing, thin air) the USA treasury in return print surety bonds (which basically is a promise to pay back the fed) the $1 trillion it printed (with interest, so a trillion$ plus interest), so how the hell does that help!
    It's just sinking that country further down the river without a paddle, and if they go their will be a knock on effect.

    Original Poster

    Also when you deposit say £9,000 into a bank, they uses your money to loan to other customers.
    But you must also be able to take your money back out at anytime right?
    Here is where "Fractional-reserve banking" comes into play, the bank has to keep 10% of the £9,000 (i.e £900) and then can create another £8,100.
    So if some goes in and takes a loan of that £8,100 and deposits it into their bank, that bank will keep 10% of that and can create more new money. (again correct me if i'm wrong, just from what i have been reading).

    Original Poster

    if i am right about the above (from what i understand), it's just never ending!
    en.wikipedia.org/wik…ing

    Banned

    my work computer won't let me navigate to the b...o...m....b.... word

    Original Poster

    lumoruk

    my work computer won't let me navigate to the b...o...m....b.... word



    dont want men in dark shades and suits turning up to ask you questions @ work, do it on your own time! haha!
    Edited by: "Chrissieboy" 31st Mar 2011

    Banned

    Chrissieboy

    The Fed is a privately owned bank, the lender of the last resort, as is … The Fed is a privately owned bank, the lender of the last resort, as is the BoE to my understanding.As far as i understand (please correct me if i'm wrong) we owe the money to these central banks, which are all owned by private investors.Trying to find out who has shares in these banks isn't easy, but the Rothschild's have a stake in the BoE as far as i can figure out (but again info is sketchy, so correct me if wrong).


    wrong on both counts

    Banned

    magicbeans

    ok seriously though...dumbest question ever.....but who are we in debt … ok seriously though...dumbest question ever.....but who are we in debt to??


    central banks raise funds via treasury bonds to private investors / investment houses. The ability to raise funds is largely dictated by the countries bond credit rating (UK is AAA rated, Greece is B1 - Highly speculative).

    So Greece has to offer far higher interest rates to investors than the UK. Saying that, I think the UK taxpayer has to pay £32,000,000,000 this year just in interest alone on the national debt, hence all the cuts to get the national deficit into credit so we can start to pay off some off the huge debt mountain Labour has saddled the future generations with................

    http://www.ukpublicspending.co.uk/include/uk_debt_100.png
    Edited by: "csiman" 1st Apr 2011

    Original Poster

    or we could just leave the EU and save an estimated €100 billion per year.
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