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Should Britain leave the E.U. ??? Should Britain leave the E.U. ???
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Photo by Marc Gibaud, Clouds on Tres Cerros and Mount Fitzroy, Argentinian Patagonia

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Photo by Marc Gibaud,
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Mount Fitzroy, Argentinian Patagonia



View Poll Results: Should Britain leave the E.U. ?
Yes 109 50.00%
No 46 21.10%
No.. But things MUST change 38 17.43%
I don't care 14 6.42%
Undecided 11 5.05%
Voters: 218. This poll is closed

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  #1  
Old 24 Jan 2016
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Quote:
Originally Posted by Walkabout View Post
The money that "you have in a bank account" is no longer yours.
By putting it on deposit into the account you become a creditor of the bank and the bank is a debtor to you.
That is correct. Unfortunatelly that relation is rarely understood by the people. However, you are a creditor to the bank, this being, the bank must pay you back what you borrowed it. The main purpose of this rubish is that, if the bank is in trouble, that contract is severed and you don't receive a part of what you borrowed to the bank.

There are ways around this state of affairs, of course. However, mostly these are not available to the main street by a long shot. Therefore, when worst comes to happen, it will be the middle classes the ones who will end up hurting much. Those who can afford it already took the necessary steps to protect the bulk of their assets.


Quote:
Originally Posted by Walkabout View Post
It may be a matter of "if interest rates return to normal levels" whatever we may define as normal.
Arguably, the world cannot afford the historical interest rates and so they won't occur despite what the USA Fed tried to do recently.
The world can not afford them... today. Give it time. The return of the interest rates to normal levels, however, is just one of the things that can start a cascade of events. There are others. A new crash which deplects further the value of bank's assets, another example.

If this thing of the cashless society moves forward (DNB in Norway said something on that particular yesterday which should be read carefully) it won't be a transitory thing. It will be permanent. Can you say how will the world be in, say, 10 years?
  #2  
Old 24 Jan 2016
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Join Date: Mar 2007
Location: UK
Posts: 4,343
Quite so.

As for forecasting the future, no one 10 years ago would have said that we are where we are now.

Perhaps, more relevant, is that those pulling the strings don't need to look forward anything like 10 years.
It may be that they only have to look forward, say, 3 months and pull the strings to suit their purposes. We puppets will dance accordingly.
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  #3  
Old 24 Jan 2016
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Do the pupeteers still really control events? Or do they even exist?

There are tons of issues in the world right now which seem to have gone astray. The world economy is just one of them but look at the MENA region, even Europe in several itens, the South China Sea with several itens there as well, Japan both internally and in what concerns its relations with China, the strong possibility of a major world war, etc, etc, etc. There is too much going wrong for one to think about some sort of pupeteers. Maybe several "pupeteers", each trying to defend its interests but which in the end will be bad for almost everybody. Not everybody, though.
  #4  
Old 24 Jan 2016
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Cashless coming sooner than we realise
Quote:
Originally Posted by Plooking View Post

If this thing of the cashless society moves forward (DNB in Norway said something on that particular yesterday which should be read carefully) it won't be a transitory thing. It will be permanent. Can you say how will the world be in, say, 10 years?
Just to add to the cashless society equation, the money in circulation as notes and coins is about 3% of the economy in the UK. I would think that the % is similar for other "advanced" economies.

Therefore, it would just be a case of removing a small element of the role of money from the economy - we are on the way with contactless cards as a recent device to convince us all of the convenience factor.

I expect that the gypsies would develop a work-around however, for their own purposes.
Crypto-currencies perhaps?
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