Bailing out the Euro

[captain cojones]

the driving license would give the finder all he needs to give you some real problems.

 

Why is that?

[Andrew]

Something that would never happen, could never happen in Spain captain, identity theft, etc i would imagine

Edited October 8, 2011 by Andrew

[Andrew]

.

 

The reason your money doesn't go so far is that you have been printing money,(quantative easing) they call it so the masses dont understand. This

 

Are you sure thats what happens captain. ? According to this from the Bank Of England your wrong ! ( if thats possible, LoL )

 

The MPC boosts the supply of money by purchasing assets like Government and corporate bonds – a policy often known as 'Quantitative Easing'. Instead of lowering Bank Rate to increase the amount of money in the economy, the Bank supplies extra money directly. This does not involve printing more banknotes. Instead the Bank pays for these assets by creating money electronically and crediting the accounts of the companies it bought the assets from. This extra money supports more spending in the economy to bring future inflation back to the target.

 

[Steve Walker]

They're not literally printing money, but they're achieving the same effect.

[Andrew]

Sorry, dont agree with that.

[Steve Walker]

You have to bear in mind that a tenner is just a piece of paper representing an obligation to pay - when the BoE creates new obligations to pay and uses them to buy assets, it makes no difference whether they do it with a case of crisply printed notes or an entry in an electronic register. So many transactions don't even use cash these days, I reckon about 5-10% of my monthly spending is cash with the rest made up of direct debits, electronic bank transfers and debit card payments.

[Andrew]

Printing money means just that to me mate, printing the bugger, ! am i wrong in thinking that way ??

[Steve Walker]

Not if you take it literally, no - it's just shorthand though, what they are doing is to all intents and purposes the same thing. There is no difference in the effect on the economy between the two actions, it's just that it's easier for most people to think of it as printing notes than to understand the slightly more abstract way it is actually done. The important thing isn't the note, it's what it stands for, and that's the same if the transaction is all done on paper.

[Andrew]

Maybe the captain should have said it more simpler Steve, like the word, INJECTING money into the economy, no misunderstanding with that.

 

I would imagine i'm not the only person thrown by the way its worded, but me being me i'm not afraid to point stuff out that i think is wrong. LoL

 

What do they say when they are PRINTING money for real, LoL LoL LoL LoL

[captain cojones]

Are you sure thats what happens captain. ? According to this from the Bank Of England your wrong ! ( if thats possible, LoL )

Its the same a printing it. Injecting new money that didnt exist before into the economy.

"printing it" is just a way to make people understand easier.

 

They call it "quantitative easing" to disguise the fact from as many people as possible.

 

Its the same as a revaluation/devaluation of your money. (again).