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Thread: The End of Cash

  1. #26
    International Mrs Steve R's Avatar
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    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    Hot off the presses. Something big is in the wind, boys. Prepare accordingly.

    Thursday 29 September 2016 6:34pm

    Deutsche Bank US share price plunges after reports suggest funds have lost faith in the lender - http://www.cityam.com/250415/deutsch...eports-suggest
    You heard much about this? I've only heard bad stuff, I don't really know enough about it to know if it's a bad thing or not.

    I hope ICANN doesn't turn in to ICAN'T

    US Relinquishes Control of Internet Naming System Oct. 1
    http://uk.pcmag.com/internet-product...g-system-oct-1

  2. #27

    Re: The End of Cash

    There's something else booked for October 1st - the re-weighting of the SDR (special drawing rights). It's reckoned by those familiar with the dealings that the Chinese renminbi and gold will become part of the basket of currencies. Gold has been bought hand over fist by the Chinese government for years.

  3. #28

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    None of the events you mentioned caused panic in any UK streets.

    Think contagion, counterparties and dominos falling. Their derivatives book's value is similar to the entire world's GDP and 20 times that of Germany, Europe's biggest and most successful economy. The bank dwarfs Lehman Brothers in size and importance. It going down could make 2008 and everything that followed seem like nothing important. That's why Christine Lagarde, the IMF boss, described it as the world's most dangerous bank.
    Just checked out the window. All is quiet in my street.

    Let me know when the looting starts.

    My missus wants a new iPod.

  4. #29
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    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    None of the events you mentioned caused panic in any UK streets.

    Think contagion, counterparties and dominos falling. Their derivatives book's value is similar to the entire world's GDP and 20 times that of Germany, Europe's biggest and most successful economy. The bank dwarfs Lehman Brothers in size and importance. It going down could make 2008 and everything that followed seem like nothing important. That's why Christine Lagarde, the IMF boss, described it as the world's most dangerous bank.
    so we lose a pizza franchise, big deal

  5. #30

    Re: The End of Cash

    The greatest risk is that somewhere in the future hyperinflation occurs. If it is bad enough cash could mirror its intrinsic value, which is precisely nothing because fiat money is backed by nothing except faith. Once confidence goes then even in the Satellite City valleys communities they will know all about it.

  6. #31

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    Think contagion, counterparties and dominos falling. Their derivatives book's value is similar to the entire world's GDP and 20 times that of Germany, Europe's biggest and most successful economy. The bank dwarfs Lehman Brothers in size and importance. It going down could make 2008 and everything that followed seem like nothing important. That's why Christine Lagarde, the IMF boss, described it as the world's most dangerous bank.
    Deutsche Bank fall drags down US stocks

    http://www.bbc.co.uk/news/business-37508394


    Commerzbank plans to cut 9,600 jobs

    http://www.bbc.co.uk/news/business-37505900
    Last edited by Wales-Bales; 29-09-16 at 20:31.

  7. #32

    Re: The End of Cash

    Their share price fell below 10 euros this morning for the first time. Their CEO has jawboned it up to 10.15 during the past hour.

  8. #33

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    Their share price fell below 10 euros this morning for the first time. Their CEO has jawboned it up to 10.15 during the past hour.
    On the plus side we're not all dead yet.

  9. #34

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    Their share price fell below 10 euros this morning for the first time. Their CEO has jawboned it up to 10.15 during the past hour.
    Multiple FT articles this morning have said it really is not as worrying as some have made out.

    Not that they predicted 2008.

  10. #35

    Re: The End of Cash

    Quote Originally Posted by LordKenwyne View Post
    Multiple FT articles this morning have said it really is not as worrying as some have made out.

    Not that they predicted 2008.
    Not only did they fail to predict the 2008 crash, they also said everything was fine right up until it happened

  11. #36

    Re: The End of Cash

    Quote Originally Posted by Dr Lecter View Post
    On the plus side we're not all dead yet.
    How can you joke at a time like this? I don't think you understand. THEIR SHARE PRICE HAS DROPPED BELOW TEN EUROS.

    Briefly.

  12. #37

    Re: The End of Cash

    Quote Originally Posted by lardy View Post
    How can you joke at a time like this? I don't think you understand. THEIR SHARE PRICE HAS DROPPED BELOW TEN EUROS.

    Briefly.
    Only gone up because it was "jawboned".

    https://www.theguardian.com/business...-business-live

    Anyone seen any gangs of people looting out on their streets yet?

  13. #38

    Re: The End of Cash

    Quote Originally Posted by TruBlue View Post
    Only gone up because it was "jawboned".

    https://www.theguardian.com/business...-business-live

    Anyone seen any gangs of people looting out on their streets yet?
    The people are always the last ones to know.

  14. #39

    Re: The End of Cash

    23m ago
    14:03
    No state aid for Deutsche Bank - Eurogroup

    Jeroen Dijsselbloem, the president of the Eurogroup, has told reporters that Deutsche Bank must survive on its own, without state aid, Reuters is reporting.
    Christine Lagarde has spoken!

  15. #40

    Re: The End of Cash

    Quote Originally Posted by Wales-Bales View Post
    Christine Lagarde has spoken!
    The Deutsche Bank head bloke said the other day that they didn't want or need state aid.

  16. #41

    Re: The End of Cash

    Quote Originally Posted by TruBlue View Post
    The Deutsche Bank head bloke said the other day that they didn't want or need state aid.
    That's good cos President Largarde said they ain't getting any

  17. #42

    Re: The End of Cash

    Quote Originally Posted by Barry Dragon View Post
    Hardly ever use cash. But I am ready for them. They wont get me. I have an allotment, so I will survive.
    Once physical money disappears so will any semblance of the anonymity and privacy it provides. Governments and their banking masters will know exactly how much everyone has and will be able to steal it at will via negative interest rates or simply through bail-ins.

    Other than some low-level bartering, every transaction for goods and services will be easily identified. There goes what's known as the black economy: the government will get more in taxes (a polite word for stealing) for them to redistribute to the top 1%, or fraction thereof.

  18. #43

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    Once physical money disappears so will any semblance of the anonymity and privacy it provides. Governments and their banking masters will know exactly how much everyone has and will be able to steal it at will via negative interest rates or simply through bail-ins.

    Other than some low-level bartering, every transaction for goods and services will be easily identified. There goes what's known as the black economy: the government will get more in taxes (a polite word for stealing) for them to redistribute to the top 1%, or fraction thereof.
    If taxes are stealing then go and live in a field

    As you use the benefits of taxation every single day of your life. From paved roads to drinking water.

  19. #44
    International Mrs Steve R's Avatar
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    Re: The End of Cash

    Quote Originally Posted by LordKenwyne View Post
    If taxes are stealing then go and live in a field

    As you use the benefits of taxation every single day of your life. From paved roads to drinking water.
    I'm sure he would.. if he was "allowed"


  20. #45

    Re: The End of Cash

    Quote Originally Posted by LordKenwyne View Post
    If taxes are stealing then go and live in a field

    As you use the benefits of taxation every single day of your life. From paved roads to drinking water.
    There's no if about it, tax is stealing... legalised stealing.

    I can guarantee you, and anyone else who reads this message, that when you turn your toes up the state would have stolen more of your wealth than any mugger, burglar or scam artist ever will.

    They are in league with the bankers. Together they conspire to steal through inflation. That hidden tax is the number one reason that just 62 families have the same wealth as the poorest 3.7 billion people in the world today and why 20 US billionaires combined wealth is more than the poorest 50% (163 million) of US citizens.

  21. #46

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    There's no if about it, tax is stealing... legalised stealing.

    I can guarantee you, and anyone else who reads this message, that when you turn your toes up the state would have stolen more of your wealth than any mugger, burglar or scam artist ever will.

    They are in league with the bankers. Together they conspire to steal through inflation. That hidden tax is the number one reason that just 62 families have the same wealth as the poorest 3.7 billion people in the world today and why 20 US billionaires combined wealth is more than the poorest 50% (163 million) of US citizens.
    How many of these are getting state funding?

    https://www.statista.com/statistics/...le-in-america/

    If you don't agree with tax though what way do you suggest we pay for things collectively?

  22. #47

    Re: The End of Cash

    State funding? All of them (via inflation). Inflation is the means that those at the top steal from the bottom. And inflation doesn't happen by accident; it occurs when there's an excess of money in relation to the demand for goods and services. How to pay for things? QE.

  23. #48

    Re: The End of Cash

    Quote Originally Posted by Organ Morgan. View Post
    State funding? All of them (via inflation). Inflation is the means that those at the top steal from the bottom. And inflation doesn't happen by accident; it occurs when there's an excess of money in relation to the demand for goods and services. How to pay for things? QE.
    Take inflation out of it and those people would still have much more money than the rest, mainly by their unique quality products in most cases.

    However you ignored the point of my post I was most interested in, so I'll ask again.

    If you don't agree with tax though what way do you suggest we pay for things collectively?

  24. #49

    Re: The End of Cash

    I answered it with QE, quantitative easing. Inflation is a regressive tax. It's why it's so insidious, and why the bankers and their puppet governments will print to infinity to avert deflation.

  25. #50

    Re: The End of Cash

    This vid's only 14 minutes duration. It describes how the con works.


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