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One for the economists out there...


Parky
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I doubt it Park Life as the hyperinflation that would occur would be absolutely huge and the money would become practically worthless, just what happened to the Weimar Republic of Germany in the 1920's.  blueyes.gif

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I doubt it Park Life as the hyperinflation that would occur would be absolutely huge and the money would become practically worthless, just what happened to the Weimar Republic of Germany in the 1920's.  blueyes.gif

 

I'm sure that the Bank of England have to have enough Gold or similar to guarantee the value of sterling in issue.

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I doubt it Park Life as the hyperinflation that would occur would be absolutely huge and the money would become practically worthless, just what happened to the Weimar Republic of Germany in the 1920's.  blueyes.gif

 

I'm sure that the Bank of England have to have enough Gold or similar to guarantee the value of sterling in issue.

Nah, they went off the Gold Standard years ago and The BofE never went back on it iirc. I think it was when Winston Churchill was Chancellor of the Exchequer. Originally (a very long time ago) I think a pound represented a pound of silver, hence the name - Pound Sterling.

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D, I bet.

 

A so meh.  bluedead.gif

 

EH?!  Exams blatantly getting easier.

 

Actually History was by far my best subject and one I did actually take an interest in, although it did get very tedious at times doing 19th Century politics including such things as Women getting the vote and that.

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I doubt it Park Life as the hyperinflation that would occur would be absolutely huge and the money would become practically worthless, just what happened to the Weimar Republic of Germany in the 1920's.  blueyes.gif

 

I'm sure that the Bank of England have to have enough Gold or similar to guarantee the value of sterling in issue.

 

no they don't

 

we went off the Gold Standard back in the 20's - before that you could (theoretically) exchange a £1 note for the equivalent value in gold at the BoE

 

Since then you get a quids worth of loose change

 

The intellectual arguement is roughly that the Gold Standard is just as artificial as the £1 note so we'll print what we need to keep business ticking over

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D, I bet.

 

A so meh.  bluedead.gif

 

EH?!  Exams blatantly getting easier.

 

Actually History was by far my best subject and one I did actually take an interest in, although it did get very tedious at times doing 19th Century politics including such things as Women getting the vote and that.

That was the 20th Century though ;)

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D, I bet.

 

A so meh.  bluedead.gif

 

EH?!  Exams blatantly getting easier.

 

Actually History was by far my best subject and one I did actually take an interest in, although it did get very tedious at times doing 19th Century politics including such things as Women getting the vote and that.

That was the 20th Century though ;)

 

The movements though of the franchise becoming extended started in the 19th century though, Whigs and all that shit.

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Guest Gemmill

D, I bet.

 

A so meh.  bluedead.gif

 

EH?!  Exams blatantly getting easier.

 

Actually History was by far my best subject and one I did actually take an interest in, although it did get very tedious at times doing 19th Century politics including such things as Women getting the vote and that.

That was the 20th Century though ;)

 

And they gave him an A ffs!?  I hated history.  Dropped it as soon as I could. 

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Churchill took as back onto thw Gold Standard in the early 1920's and nearly bankrupted the country - since then no-one dares mention it

Aah reet. It's all coming back now Robster ;)

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So..........Here's my problem....Who actually owns all the debt??

 

The $ as far as I can tell is a 'fiat' currency and the Fed print as much as they like, infact if they tried to cut back America would go into deep depression as loans etc would have to be called in as the money supply decreses or summat like that...

 

Now it transpires that the World Bank and IMF have the power to write SDR's (sophisticated credits given to countries that can be exchanged for currency). There seems to be little or no control over this either....

 

So as I asked earlier....Who is actually backing up all this debt creation?

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Guest Gemmill

Parky looking for another conspiracy. bluebigrazz.gif  I imagine Parky as a sort of Indiana Jones, but one who gets all of his theories completely wrong, sees codes in things that aren't there, and just basically chases his tail all day on these non-existent mysteries of his.

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So..........Here's my problem....Who actually owns all the debt??

 

The $ as far as I can tell is a 'fiat' currency and the Fed print as much as they like, infact if they tried to cut back America would go into deep depression as loans etc would have to be called in as the money supply decreses or summat like that...

 

Now it transpires that the World Bank and IMF have the power to write SDR's (sophisticated credits given to countries that can be exchanged for currency). There seems to be little or no control over this either....

 

So as I asked earlier....Who is actually backing up all this debt creation?

 

Africa

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Guest Gemmill

Perhaps you could ans the question bean counter....Though I suspect it's not in your interest. bluedead.gif

 

Not in my interest because it's boring, or not in my interest because I know the secrets and don't want to reveal them to you, Dr Jones?  bluebigrazz.gif

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