Originally posted by scooterscot
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Bank of England to temporarily finance UK government spending
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Originally posted by scooterscot View PostThe gold standard can't return soon enough.Comment
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I'm ready for it... are you?"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by AtW View PostCant’t work in modern world"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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<old gag>That's the good thing about Bitcoin standards, there's so many to choose from</old gag>Comment
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Originally posted by Martin@AS Financial View PostInteresting story from Reuters:
Bank of England agrees to finance UK government if markets turn sour - Reuters
Just beware when Rishi Sunak starts scattering his endless supply of crisp fresh £50 notes over our financial problems like it was confetti.Comment
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Originally posted by scooterscot View PostThe Bitcoin standard it is then!Comment
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Originally posted by CheeseSlice View PostOne danger of fiat money is that governments will print too much of it, resulting in hyperinflation"
Just beware when Rishi Sunak starts scattering his endless supply of crisp fresh £50 notes over our financial problems like it was confetti.
Before that can happen though, there's a need to increase the physical money supply. Before that time, we're more likely to have deflation. A lot of it. People want cash, can't get it (see below) then this results in people not spending it. You can thank the Tories in the mid-80's for bank deregulation for the pickle we're in now.
'Money Supply M1 in the United Kingdom increased to 1835526 GBP Million in February from 1814637 GBP Million in January of 2020.'
'Money Supply M2 in the United Kingdom increased to 2472269 GBP Million in February from 2471137 GBP Million in January of 2020.'
So a difference of £0.6 trillion that does not actually exist but a computer in the BoE says it does. Crt-Alt-Del, that'll fix it."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by AtW View PostCant’t work in modern world
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15/08/1971 - Nixon 'temporarily' suspends convertability of USD to goldComment
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