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Debt.
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nickgusset  Shizzlehurst 21 Dec 15 4.50pm |
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I read somewhere that the 'total Earth debt' is £233.3 trillion.
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 Y Ddraig Goch  In The Crowd 21 Dec 15 5.04pm |
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And how did they calculate it? Would some debt not off set other debt? I reckon it's the man in the moon (that's a guess btw)
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| Superfly The sun always shines in Catford 21 Dec 15 5.34pm |
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I wish I had his number. Sounds like a right mug!
Lend me a Tenor 31 May to 3 June 2017 John McIntosh Arts Centre with Superfly in the chorus |
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-TUX-  Alphabettispaghetti 21 Dec 15 5.58pm |
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Quote nickgusset at 21 Dec 2015 4.50pm
I read somewhere that the 'total Earth debt' is £233.3 trillion. The banks. A 10min watch basically explaining how we're being screwed.
Time to move forward together. |
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| nickgusset Shizzlehurst 21 Dec 15 9.48pm |
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Quote -TUX- at 21 Dec 2015 5.58pm
Quote nickgusset at 21 Dec 2015 4.50pm
I read somewhere that the 'total Earth debt' is £233.3 trillion. The banks. A 10min watch basically explaining how we're being screwed.
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| -TUX- Alphabettispaghetti 21 Dec 15 10.37pm |
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This is the best thread ever here as it affects all of us and personally. i'm honestly not surprised at the lack of responses. Maybe the truth hurts? Too hard to digest? As i've posted in the past, 'Why do we constantly pay more for less?'. Not one single answer. Oh well.
Time to move forward together. |
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| richard shaw (og)65 my minds eye 22 Dec 15 10.24am |
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Quote -TUX- at 21 Dec 2015 5.58pm
Quote nickgusset at 21 Dec 2015 4.50pm
I read somewhere that the 'total Earth debt' is £233.3 trillion. The banks. A 10min watch basically explaining how we're being screwed.
interviewer " iggy , do you think you influenced anybody?" |
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| richard shaw (og)65 my minds eye 22 Dec 15 10.31am |
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if think we are in an age where chaos,debt and financial disorder is the new normal ,as long as the man in the street has a shiny new ipad and a shiny new home ( all bought on credit ) they don't give a monkeys .
interviewer " iggy , do you think you influenced anybody?" |
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| sydtheeagle England 22 Dec 15 7.50pm |
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I think the starting point is to qualify "what is debt?" and "to whom is it owed?" If I buy, say, a derivative (let's say a call option on a stock) and I put down a percentage of the stock price as security and the market moves against me, I might create a large amount of debt where there was only the secured sum before. In effect, other than losing my security debt has been created out of nothing so the money owed, while still a debt, is entirely virtual. A lot of it also arises from prop trading and is therefore simply owed by one bank to another. To some extent, possibly a large extent, modern financial instruments and particularly structured products are simply banking inventions that provide a new way for users to owe them money. We need to ask a). why is this allowed, and b). is this real debt?
Sydenham by birth. Selhurst by the Grace of God. |
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| nickgusset Shizzlehurst 22 Dec 15 8.10pm |
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Yes it's a left blog but interesting nonetheless.
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| richard shaw (og)65 my minds eye 23 Dec 15 10.08am |
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Quote sydtheeagle at 22 Dec 2015 7.50pm
I think the starting point is to qualify "what is debt?" and "to whom is it owed?" If I buy, say, a derivative (let's say a call option on a stock) and I put down a percentage of the stock price as security and the market moves against me, I might create a large amount of debt where there was only the secured sum before. In effect, other than losing my security debt has been created out of nothing so the money owed, while still a debt, is entirely virtual. A lot of it also arises from prop trading and is therefore simply owed by one bank to another. To some extent, possibly a large extent, modern financial instruments and particularly structured products are simply banking inventions that provide a new way for users to owe them money. We need to ask a). why is this allowed, and b). is this real debt?
modern financial instruments that you mention are one of the reasons the world is in a bit of a mess financially now . the greeks had a great deal sold to them by goldman sachs that they could re package their debts to create new money . the same wall st banks and over here as well did the same with sub prime mortgages for houses and car loans , when the public then started defaulting on these loans it all unravelled .the banks are all so inter connected that if one defaults it has a domino effect , amazing that in 2008 / 2009 some banks refused to deal with other banks for fear that they would default . the problem we have now I think is that there is a generation of people , bankers and the public that don't see a problem being leveraged ( bank talk for having debt ) . when that does go bad they then don't think twice about just walking away from it.
interviewer " iggy , do you think you influenced anybody?" |
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| nickgusset Shizzlehurst 23 Dec 15 10.22am |
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Quote richard shaw (og)65 at 23 Dec 2015 10.08am
Quote sydtheeagle at 22 Dec 2015 7.50pm
I think the starting point is to qualify "what is debt?" and "to whom is it owed?" If I buy, say, a derivative (let's say a call option on a stock) and I put down a percentage of the stock price as security and the market moves against me, I might create a large amount of debt where there was only the secured sum before. In effect, other than losing my security debt has been created out of nothing so the money owed, while still a debt, is entirely virtual. A lot of it also arises from prop trading and is therefore simply owed by one bank to another. To some extent, possibly a large extent, modern financial instruments and particularly structured products are simply banking inventions that provide a new way for users to owe them money. We need to ask a). why is this allowed, and b). is this real debt?
modern financial instruments that you mention are one of the reasons the world is in a bit of a mess financially now . the greeks had a great deal sold to them by goldman sachs that they could re package their debts to create new money . the same wall st banks and over here as well did the same with sub prime mortgages for houses and car loans , when the public then started defaulting on these loans it all unravelled .the banks are all so inter connected that if one defaults it has a domino effect , amazing that in 2008 / 2009 some banks refused to deal with other banks for fear that they would default . the problem we have now I think is that there is a generation of people , bankers and the public that don't see a problem being leveraged ( bank talk for having debt ) . when that does go bad they then don't think twice about just walking away from it. And they can get away with this.
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