Finances - personal , national and global

Duke of Prunes

Duke of Prunes

Well-known member
I thought I'd start a thread where folk could discuss ( or at least rant about ) all financial issues
......... in any of the above categories .

@Hugo Magnus and @JAT sparked me off this morning ,
in a completely unrelated thread .

The death of "real" money .

My version anyway .....
Once upon a time paper money was created to represent , or act in place of , physical gold
held in a secure deposit .

Once upon a fifty years ago , the war in Vietnam became so insanely expensive to finance
that Nixon decided to end the Bretton-Woods system ( commonly known as the gold standard ) .

That is where the rot really set in , and how we got into our current mess .
It effectively decoupled paper money forever , from anything of "real" physical value , and replaced it
with bonds , securities and cash ( all denominated in US dollars , of course ! ) .

The rest of the world followed suit , because they had very little choice , except for France ( another story ) .
So now all of the world's currencies became effectively backed by the US dollar , which is backed by what ?
The US dollar !

Here is a cartoon view of it , which is actually closer to the truth than most of the techno-speak
and gobbledeegook spouted by finance ministers and so-called economic " experts " .

Lois Lane is falling out of a skyscraper window , and Superman flies in and catches her , and he says
" Don't worry , I've got you " , and Lois quite sensibly replies " Yeah , but who has got YOU ? "

Lois Lane is the US dollar in that fictional scenario .

</> Rant </end>

getmecoat.gif
 
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Cash is anonymous. If you have it, you can use it as you see fit. The cash is yours. You can use it as you like, spend it, save it, you can even buy fuel for your motorcycle with it, despite the fact your are dooming the planet by doing so. It's up to you.

Central Bank Digital Currency is in the early stages of replacing cash.
CBDC is not yours. You don't own it, you lease it from the Central Bank. If the CB doesn't want you riding your motorcycle, or buying a plane ticket, or heating your home, etc you won't be able to pay for such things.

Are there any money worries that compare with this one?
 
Loz said:
Cash is anonymous. If you have it, you can use it as you see fit. The cash is yours. You can use it as you like, spend it, save it, you can even buy fuel for your motorcycle with it, despite the fact your are dooming the planet by doing so. It's up to you.

Central Bank Digital Currency is in the early stages of replacing cash.
CBDC is not yours. You don't own it, you lease it from the Central Bank. If the CB doesn't want you riding your motorcycle, or buying a plane ticket, or heating your home, etc you won't be able to pay for such things.

Are there any money worries that compare with this one?
Click to expand...
It’s good to have you back fella.
 
Did someone mention the Central Scrutinizer?


It might be a bit wierd when taken out of context, but some of the tracks that follow are belters [in my opinion, which is the only one you really need]
 
Loz said:
Cash is anonymous. If you have it, you can use it as you see fit. The cash is yours. You can use it as you like, spend it, save it, you can even buy fuel for your motorcycle with it, despite the fact your are dooming the planet by doing so. It's up to you.

Central Bank Digital Currency is in the early stages of replacing cash.
CBDC is not yours. You don't own it, you lease it from the Central Bank. If the CB doesn't want you riding your motorcycle, or buying a plane ticket, or heating your home, etc you won't be able to pay for such things.

Are there any money worries that compare with this one?
Click to expand...

That is indeed a dark road to go down .
Have you seen the social credit scoring system that is used in China ?
.... it can have a massive effect on such simple things as being able to buy train or plane tickets .
If you so much as cross the road before the green comrade is showing on the traffic lights
you score minus points !

There are several good documentaries on it .

@Don Kiddick
The White Zone is for loading and unloading only
..... you don't want to be squandering those precious social cred points !
 
Duke of Prunes said:
That is indeed a dark road to go down .
Have you seen the social credit scoring system that is used in China ?
.... it can have a massive effect on such simple things as being able to buy train or plane tickets .
If you so much as cross the road before the green comrade is showing on the traffic lights
you score minus points !

There are several good documentaries on it .

@Don Kiddick
The White Zone is for loading and unloading only
..... you don't want to be squandering those precious social cred points !
Click to expand...
Do you have any links?
Thanks.
 
I forgot this from my first post ..... just a personal opinion of course .

The new governor of the Bank of England is a **** **************** ****** .
He was previously head of the FCA , where he sat by and did nothing , while scamsters robbed pensioners of millions
and were then able to flee abroad , even though he'd been told of these very same investment frauds countless times !

Evidence ?



More scamming of pensioners ...... this time by Blackmore Global
The same old sorry-arsed cowards targeting vulnerable people , apparently with impunity !
And the same name keeps cropping up , and he looks almost as guilty as the crooks ....

..... guess who ?


Haiyaa ! ..... as Uncle Roger would say
 
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Hugo Magnus said:
OK, we all know the problem; what is the answer?
Click to expand...

Sadly I don't know the right answer ...... the best I can hope for these days is to ask the right questions .

Such as why is there this constant obsession with economic growth ?
Surely economic stability is a much more sensible goal .

I'm in the same position as many folk who have investments and savings , and have to watch helplessly
as inflation steadily strips away the value .

I heard a lady called Kate Raworth on the radio and she was describing a concept called Doughnut Economics
..... she talks a hell of a lot of good sense ...... it was a bit of a revelation for me .

If anyone is curious , this wiki page is a good place to start -

en.wikipedia.org

Doughnut (economic model) - Wikipedia

en.wikipedia.org en.wikipedia.org
 
Duke of Prunes said:
Sadly I don't know the right answer ...... the best I can hope for these days is to ask the right questions .

Such as why is there this constant obsession with economic growth ?
Surely economic stability is a much more sensible goal .

I'm in the same position as many folk who have investments and savings , and have to watch helplessly
as inflation steadily strips away the value .

I heard a lady called Kate Raworth on the radio and she was describing a concept called Doughnut Economics
..... she talks a hell of a lot of good sense ...... it was a bit of a revelation for me .

If anyone is curious , this wiki page is a good place to start -

en.wikipedia.org

Doughnut (economic model) - Wikipedia

en.wikipedia.org en.wikipedia.org
Click to expand...
It mentions climate change and is therefore moot (y)
 
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