Quantity of the currency already controlled by the government. Job done! Glad that's sorted...

The quantity of currency is not controlled by Government, unfortunally . The Private banks add to the quantity of currency every day , through the fractional reserve banking system by issueing loans and credit cards, time to read up for you I think.

Last edited by eazyas 14 years ago

I was going to say the same to you... lol. But preferably an opinion that isn't left wing

In reply to mufasa about how it could affect house prices ect :

When the government (the people) borrows a large sum of money ,in most cases, it must be repaid , with intrest attached. To repay this debt and the intrest tax's may have to be raised, which could affect your ability to save for a house purchase. If this sum of borrowed money is additional $ added to the currency supply of the country then this instantly devalues each citizins $ savings , as gernerally if there are more $ in circulation then each $ commands less value and inflation in basic goods ( and possibly larger goods like houses, but very rairley in average wages) would be expected. Constanly adding to the quantity currency causes inflation and is the primary cause of the recent boom and bust cycle in housing.

Last edited by eazyas 14 years ago

I didnt want to decend into an argument with you, but you do not know the basics of the financial system you live within. The government does not controll the quantity of currency in circulation.

@ easy why do your responses always seem to aim to condescend and rankle anyone who questions your veiws?

Also, from what I can gather regarding the Bank of England, it was initially privately owned due to the fact the crown had ran out of money during expensive wars. This is a statement from the Bank of England regarding their ownership;

The Bank of England is the central bank of the United Kingdom and was established as a corporate body by Royal Charter under the Bank of England Act 1694. The Bank was nationalised on 1 March 1946, and gained operational independence to set interest rates in 1997 (the Bank of England Act 1998 Part II sets out the responsibilities and objectives of the Bank in relation to monetary policy).

The Bank is a public sector institution, wholly-owned by the government, but accountable to Parliament. The entire capital of the Bank is, in fact, held by the Treasury solicitor on behalf of HM Treasury. Each year, the Bank is required to submit its Report and Accounts to Parliament, via the Chancellor of the Exchequer.

I think independence from the government (personally as the situation stands, I see the government and the people as two seperate factions, unlike your view) as critical to safeguard the bank from the sort of lobbying and interference you seem to have mentioned earlier in this thread.

So what alternative do you propose/support? One which would not take out the economy of the majority of the world and create a dark ages that would be more destructive than anything documented so far? I imagine that you cant demonstrate and rally to remove one system without having a viable and solid alternative..? The system in place is far from perfect but the structure is embedded and change would be costly to all far more than the fact a loaf of bread is a bit dear in nothern ireland and that houses cost quite a bit.. so what? the market will settle its self eventually and is NOT comparable to syria/yemen et all at all IMO, I think they would love to swap systems where you can have a welfare state, NHS, a democratic government etc and would take offence to any comparison. Oh and yes I am 'arragont ,selfish, simple minded and downright incompasionate' [sic], just to beat you to your rant.

Last edited by Jebrand 14 years ago

Hmn nice sidestep but didnt really answer my point(s). Although I can see how this sort of material/fodder can pander to the naive and idealistic I suppose.. researching into the 'film' 'money masters' leads me to this, '(Money Masters).. asserts or implies that bankers have intentionally caused a number of significant events, including John F. Kennedy's assassination, Abraham Lincoln's assassination, the War of 1812, the Battle of Waterloo, the American Civil War, the Russian Revolution, the Great Depression, and the crucifixion of Jesus' Seriously? :o *CLANG CLANG CLANG ARROOOGGAAA ARRROOOOGGAA -Nutter Alarm Bells Ringing*

Here - hope this helps -

:o 1.5 hours lol...... cant you summarize? ! I'll try to watch that but tbh I was after a personal opinion response to my questions, not a(nother) youtube vid of someone elses.. hence why my argument was on the Bank of England (more my area, and harder to just refer to a youtube vid instead of putting your own point across).