Segun Oluwaniyi Posted June 8, 2013 Share Posted June 8, 2013 Ask yourselves this very simple question: how come practically every government, company and household in the Western world is in ever increasing debt? Shouldn't it be so in theory that for every pound loaned out to somebody there should be a pound deposited by somebody else? If nearly everybody is in debt, who is lending it to them (us)? That's far too simplistic, nobody lends £1 out to get £1 back for a start. The economy is far too complex for us to discuss it properly on here anyway. It's a head bursting topic really as money has to constantly move to keep the economy going and governments have to constantly print additional money. They would have to do that anyway just to stand still as the population grows. So close, yet so far away from understanding. It's not the governments constantly printing additional money, it's the banks! You need to differentiate between creating money and printing money, so people can understand what the hell you are talking about. Preferably not in a topic about Papiss Cisse. I'm sick of hearing about this Wonga nonsense. If you want to take issue with someone do with the state and your leaders. Link to post Share on other sites More sharing options...
NEEJ Posted June 8, 2013 Share Posted June 8, 2013 Papiss Demba Banknotes. Link to post Share on other sites More sharing options...
Unbelievable Posted June 8, 2013 Share Posted June 8, 2013 So close, yet so far away from understanding. It's not the governments constantly printing additional money, it's the banks! The Bank of England controls the printing of money and guess what, it's a nationalised company. I'm sorry if that wasn't clear. The physical printing of money may be controlled by the BoE, the creation of money certainly isn't (only a small percentage of the total sum of money is in the form of notes nowadays). The BoE was set up as a private bank to be a lender to government in 1694, given a royal charter, and apparently nationalised in 1946, some 250 years later. Make of that what you will. What I make of it is that, much in the same way the Federal Reserve does in the US, the central bank looks after the interests of its founders first and foremost, not the general public. Apologies also for the continued OT posts. Maybe this stuff deserves its own thread in Chat..? Link to post Share on other sites More sharing options...
Incognito Posted June 8, 2013 Share Posted June 8, 2013 Ask yourselves this very simple question: how come practically every government, company and household in the Western world is in ever increasing debt? Shouldn't it be so in theory that for every pound loaned out to somebody there should be a pound deposited by somebody else? If nearly everybody is in debt, who is lending it to them (us)? That's far too simplistic, nobody lends £1 out to get £1 back for a start. The economy is far too complex for us to discuss it properly on here anyway. It's a head bursting topic really as money has to constantly move to keep the economy going and governments have to constantly print additional money. They would have to do that anyway just to stand still as the population grows. So close, yet so far away from understanding. It's not the governments constantly printing additional money, it's the banks! The only banks that can print money are the central banks of a country, who in turn lend this to the banks. Which is otherwise known as quantitative easing. Remember when there was a run on Northern Rock, it was because they asked the Bank of England for a short term loan, they couldn't fucking create money at off thin air as you believe they can. They can but it devalues all the current money in circulation causing inflation. Also it's worth noting that you point out Northern Rocks request for a short term loan. Did you know that they only requested it for just incase, they actually never needed it but the government forced them to take it once it was publicised that they had requested one. They never accessed the funds from that loan and were prepared to pay it back before it was due to be paid. They were then nationalised and then were given a 2nd loan without them requesting it or needing it. They were then sold on at a profit. At the time Barclays and other banks also requested a short term loan yet their details were never publicised like Northern Rocks were. Labour well and truly sold Northern rock out, insisting on them taking out loans that they didn't need and paying them back with interested and then the sell off (which was agreed in principle before Labour left office). Preposterous, even for you. What did you expect Alastair Darling to do? The only alternative to nationalising Northern Rock was to let it declare itself bankrupt. Link to post Share on other sites More sharing options...
Flip Posted June 8, 2013 Share Posted June 8, 2013 Bank of England scored for Senegal. 1-0 right now against Angola. Link to post Share on other sites More sharing options...
Unbelievable Posted June 8, 2013 Share Posted June 8, 2013 This a friendly? Link to post Share on other sites More sharing options...
Mole_Toonfan Posted June 8, 2013 Share Posted June 8, 2013 Bank of England scored for Senegal. 1-0 right now against Angola. Its clear i need to read through the last few pages i mean wtf Link to post Share on other sites More sharing options...
ponsaelius Posted June 8, 2013 Share Posted June 8, 2013 This a friendly? WCQ Link to post Share on other sites More sharing options...
Flip Posted June 8, 2013 Share Posted June 8, 2013 Bank of England scored for Senegal. 1-0 right now against Angola. Its clear i need to read through the last few pages i mean wtf Skimmed through the last page when I woke up, I'd advice you not too as it's a complete waste of space in this thread. Link to post Share on other sites More sharing options...
Kanj Posted June 8, 2013 Share Posted June 8, 2013 How/What was his goal like? Link to post Share on other sites More sharing options...
Kanj Posted June 8, 2013 Share Posted June 8, 2013 Angola equalized, saw that coming when the cross was hit Link to post Share on other sites More sharing options...
Robbo Posted June 8, 2013 Share Posted June 8, 2013 How/What was his goal like? SandalsForGoalposts @Sandal4Goalpost 50m GOAL PAPISS DEMBA CISSE! Think it was M'Bengue with a beautiful cross and the keeper was caught in no man's land. Wonderful header. Link to post Share on other sites More sharing options...
Kanj Posted June 8, 2013 Share Posted June 8, 2013 BTW - somebody has edited Demba Ba's name on the Senegal wiki page as "Batman" Link to post Share on other sites More sharing options...
Robbo Posted June 8, 2013 Share Posted June 8, 2013 Just blazed over from about 7 yards, tried to kick the leather off it Link to post Share on other sites More sharing options...
Kanj Posted June 8, 2013 Share Posted June 8, 2013 Cisse man Link to post Share on other sites More sharing options...
loki679 Posted June 8, 2013 Share Posted June 8, 2013 When was the last time a payday loan company screwed the entire global economy, plunged millions into poverty, destroyed the livelihoods of countless families and sent governments running to the IMF while throwing the most vulnerable members of society on the scrapheap? A CCJ for non payment of a £300 payday loan doesn't seem so bad compared to the damage the selfish, greedy, economic vandals have caused. That post is mad, payday loans haven't screwed over the entire global economy but that's only because of the size of the payday loan companies. If all of the banks went to the wall tomorrow and we had to go to a payday loan company the next time we wanted credit for a new car or an extension on our houses we’d be shagged. If we didn’t have banks and a company wanted to borrow to invest and had to pay back the interest to a payday loan company we’d all be out of work within a couple of years as nobody could afford to invest and if companies fail to invest they usually go out of business unless they have a niche market. Anyway the banks didn’t screw the economy without the help of governments and borrowers but it’s easy for everybody to point the finger at the banks instead of taking some of the blame themselves. You silly twat. We had banks that lent to businesses. We had banks that lent you money for a new car. What we didn't have is banks that have gambled thousands of times more money than actually exists in order to line their pockets. Oh, and that's your money they're gambling with. Ask Cyprus. Link to post Share on other sites More sharing options...
Kanj Posted June 8, 2013 Share Posted June 8, 2013 Cisse scores. Offsides. It continues. Link to post Share on other sites More sharing options...
loki679 Posted June 8, 2013 Share Posted June 8, 2013 So, so gullible. Not saying the governments, or indeed us, as in bank customers, aren't partly to blame, and neither do I want to condone the business practices of Wonga in any way, shape or form, but this concept that banks are doing society a service rather than leaching on it is frankly laughable if it wasn't so tragic that most people can't see them for what they are and actually believe that without banks in their current form there couldn't be prosperity or even happiness. True, without a bank I and everyone else would be mugged on pay day every month, without a bank I will never be able to buy a house, without a bank I couldn't afford to insure my car. Without the BOE students wouldn't be able to afford to go to uni. Banks are crucial to our society, however it is this fact that makes them untouchable. Yes, that is the exact area of banking that has caused all the problems. Well done, you are entirely 100% up to speed on the discussion. Link to post Share on other sites More sharing options...
Guest neesy111 Posted June 8, 2013 Share Posted June 8, 2013 When was the last time a payday loan company screwed the entire global economy, plunged millions into poverty, destroyed the livelihoods of countless families and sent governments running to the IMF while throwing the most vulnerable members of society on the scrapheap? A CCJ for non payment of a £300 payday loan doesn't seem so bad compared to the damage the selfish, greedy, economic vandals have caused. That post is mad, payday loans haven't screwed over the entire global economy but that's only because of the size of the payday loan companies. If all of the banks went to the wall tomorrow and we had to go to a payday loan company the next time we wanted credit for a new car or an extension on our houses we’d be shagged. If we didn’t have banks and a company wanted to borrow to invest and had to pay back the interest to a payday loan company we’d all be out of work within a couple of years as nobody could afford to invest and if companies fail to invest they usually go out of business unless they have a niche market. Anyway the banks didn’t screw the economy without the help of governments and borrowers but it’s easy for everybody to point the finger at the banks instead of taking some of the blame themselves. You silly twat. We had banks that lent to businesses. We had banks that lent you money for a new car. What we didn't have is banks that have gambled thousands of times more money than actually exists in order to line their pockets. Oh, and that's your money they're gambling with. Ask Cyprus. Comparing Cyprus to the UK. Seriously not enough for that. Link to post Share on other sites More sharing options...
loki679 Posted June 8, 2013 Share Posted June 8, 2013 Ask yourselves this very simple question: how come practically every government, company and household in the Western world is in ever increasing debt? Shouldn't it be so in theory that for every pound loaned out to somebody there should be a pound deposited by somebody else? If nearly everybody is in debt, who is lending it to them (us)? That's far too simplistic, nobody lends £1 out to get £1 back for a start. The economy is far too complex for us to discuss it properly on here anyway. It's a head bursting topic really as money has to constantly move to keep the economy going and governments have to constantly print additional money. They would have to do that anyway just to stand still as the population grows. So close, yet so far away from understanding. It's not the governments constantly printing additional money, it's the banks! The only banks that can print money are the central banks of a country, who in turn lend this to the banks. Which is otherwise known as quantitative easing. Nope. Who owns the central bank? When you take out a loan, where does the money come from? Link to post Share on other sites More sharing options...
loki679 Posted June 8, 2013 Share Posted June 8, 2013 When was the last time a payday loan company screwed the entire global economy, plunged millions into poverty, destroyed the livelihoods of countless families and sent governments running to the IMF while throwing the most vulnerable members of society on the scrapheap? A CCJ for non payment of a £300 payday loan doesn't seem so bad compared to the damage the selfish, greedy, economic vandals have caused. That post is mad, payday loans haven't screwed over the entire global economy but that's only because of the size of the payday loan companies. If all of the banks went to the wall tomorrow and we had to go to a payday loan company the next time we wanted credit for a new car or an extension on our houses we’d be shagged. If we didn’t have banks and a company wanted to borrow to invest and had to pay back the interest to a payday loan company we’d all be out of work within a couple of years as nobody could afford to invest and if companies fail to invest they usually go out of business unless they have a niche market. Anyway the banks didn’t screw the economy without the help of governments and borrowers but it’s easy for everybody to point the finger at the banks instead of taking some of the blame themselves. You silly twat. We had banks that lent to businesses. We had banks that lent you money for a new car. What we didn't have is banks that have gambled thousands of times more money than actually exists in order to line their pockets. Oh, and that's your money they're gambling with. Ask Cyprus. Comparing Cyprus to the UK. Seriously not enough for that. Don't worry about it, I wouldn't expect someone of your limited intellect to grasp the key points. Maybe go colour something in. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted June 8, 2013 Share Posted June 8, 2013 Cisse! Link to post Share on other sites More sharing options...
Sifu Posted June 8, 2013 Share Posted June 8, 2013 Tbf to Virgin Money, they are the "good bank". Link to post Share on other sites More sharing options...
Kanj Posted June 8, 2013 Share Posted June 8, 2013 Man he totally should have scored that diving header earlier....but mind you it was a tough angle Link to post Share on other sites More sharing options...
Unbelievable Posted June 8, 2013 Share Posted June 8, 2013 So glad I'm not watching this... Link to post Share on other sites More sharing options...
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