Erm, the US economy is more fooked than ours lol
Canada is a different issue altogether...
Canada is a different issue altogether...
The euro is going up in smoke - and there's no fire brigade to stop it
- Thread starter Pete_London
- Start date
That's not what I was implying.
Sent from my mobile device using fingers and thumbs!
Sent from my mobile device using fingers and thumbs!
You can't mean the Fed?
:FRIGHT:
:FRIGHT:
Farage and Red Ken speak sense:
UKIP Nigel Farage & Red Ken Livingstone on collapsing Eurozone Sky News 10 Jun 2012 - YouTube
UKIP Nigel Farage & Red Ken Livingstone on collapsing Eurozone Sky News 10 Jun 2012 - YouTube
- Joined
- Jan 19, 1999
- Messages
- 32,154
- Reaction score
- 9,223
Pity they've only figured out part one 
Erm, bit obtuse, sorry. The major part of the problem is Fractional Reserve Banking. It's a system predicated upon debt. That means that the foundation, in effect, IS debt. Banks lend on a fraction of what they take in deposits, currently between 30 and 40 times. So, if a bank has £1000, it can lend between £30,000 and £40,000. But that money is 'virtual' and it's secured on assets such as houses.
That's why the Spanish banks are fooked, they lent against building in Spain and secured the loans against the future value of the property that was GOING to be built. But it's NOT going to be built so they have NO assets, ergo, they're bust. Flat fooking broke. But they borrowed the money and someone wants the loan repaid.
Now, Spain has been quite sneaky, they've negotiated a credit line to the banks but that only buys them time, and not a great load.
In point of fact, most lending, Globally, is secured on assets that are depreciating (dropping) faster than a whore's drawers...
...on the other hand, allotments are increasing in value daily
Erm, bit obtuse, sorry. The major part of the problem is Fractional Reserve Banking. It's a system predicated upon debt. That means that the foundation, in effect, IS debt. Banks lend on a fraction of what they take in deposits, currently between 30 and 40 times. So, if a bank has £1000, it can lend between £30,000 and £40,000. But that money is 'virtual' and it's secured on assets such as houses.
That's why the Spanish banks are fooked, they lent against building in Spain and secured the loans against the future value of the property that was GOING to be built. But it's NOT going to be built so they have NO assets, ergo, they're bust. Flat fooking broke. But they borrowed the money and someone wants the loan repaid.
Now, Spain has been quite sneaky, they've negotiated a credit line to the banks but that only buys them time, and not a great load.
In point of fact, most lending, Globally, is secured on assets that are depreciating (dropping) faster than a whore's drawers...
...on the other hand, allotments are increasing in value daily
Last edited:
Your concept of 'balance' is flawed
I can't speak for the Grauniad but the Mail and the BBC, bless, put their own peculiar twist on things. In some cases missing the story (or the point) altogether.
Pete_London
Inactive User
Last edited:
Argh, nearly home time . I'll have to watch it in my leisure time!
. I'll have to watch it in my leisure time!
- Joined
- Jan 19, 1999
- Messages
- 32,154
- Reaction score
- 9,223
Exactly what I was talking about!!!
Just much better put lol!!
YOU COULD NOT MAKE IT UP.
Spains bailout will come from countries like Italy lol...who will have to borrow the money to fund the bailout... its a nonsense... as soon as Spain take the bailout Italy will need one!!!
And just as I said there is no way that 100 billion is enough...
It will get much worse before it gets better!
UKIP - GETS MY VOTE FOR THAT SPEECH ALONE!!!!
and for what its worth!!!
he told them this nearly 2 years ago
http://www.youtube.com/watch?v=Fyq7WRr_GPg&feature=relmfu
Mick
Last edited:
Similar threads
-
- Sticky
