UKC

youtube.com/watch?v=JHQOX8EVNmE&

I'd be interested to know what people who know more about this stuff than me think of this.

When we talk about our national debt, to whom do we owe the money?

In reply to Submit to Gravity:


Roughly 40% to pension funds and insurance companies, 35% to overseas investors (mainly financial institutions), 20% to banks (including the Bank of England) and the balance to individuals and others.

In reply to Postmanpat:

How does that square with what she was saying?

In reply to Submit to Gravity:


Well, she's given a brief and rather one sided description of how the monetary system works (fiat money and fractional reserve banking)but except that the gold standard was finally abandoned it wasn't started in the 1970s.Much of it has been true for a long time.

She has not explained why the system would any better or fairer if the government had a monopoly on creation of debt and money or how she thinks an economy might grow without debt creation.

In reply to Submit to Gravity:
the factual how the financial system are true, the conclusions that this is, in and of itself, enslaving the people, leading to less wealth etc is nonsense.

In reply to Postmanpat:

I watched a documentary from a uk perspective which did offer explanations and think about alternatives to private institutions having a monopoly on money creation. Seemed to make sense to me. At least we should be having the conversation should we not?
youtube.com/watch?v=XcGh1Dex4Yo&

In reply to gritrash0:


>
Yup, one of the frustrations with democracy as it currently "works" is that politicians are too busy trying to get elected to discuss or promote genuine change. A genuine crisis might provoke debate but apparently 2008 was not sufficient......

In reply to Submit to Gravity:

"Have you ever wondered... "

SLAP!

Sorry - instant turn off. Nothing worse than 12 year old set up to sound like she knows what she is talking about when in reality, she is simply regurgitating a view point of her elders.

In reply to ByEek:

Precociousness is not an admirable trait in any child!

I think she's talking mostly bollox

In reply to higherclimbingwales:

Closed-mindedness is unfortunately a common trait in adults. It's the reason why nothing changes and why instead of 'thinking' she's talking mostly bollox perhaps you should investigate, ask questions and find out whether you're right in you're assumption instead of offering completely useless criticism. You're viewpoint sir, as written above, is mostly bollox

In reply to gritrash0:



There's one thing I am most certainly not, and that thing is...closed minded.

In reply to higherclimbingwales:

Sounds like you are closed minded to the possibility of you being closed minded.

In reply to FreshSlate:

Damn, you're right. Pass me the gun...

At the end isn't her simple solution for the central bank to print out a load of wonga and pay off the national debt.

Does she not consider the imapact there on the exchange rate and the massive loss in overseas purchasing power?

In reply to ByEek:




Yep reminded me of the child 'star' William Hague

http://www.dailyrecord.co.uk/news/john-niven-tory-loving-scrounger-hating-y...

I still want to give him a slap, more so now that he is an adult, he is even more objectionable .