Coronavirus: overhyped fear-mongering or potential mega doom?

[Organ Morgan.]

So help a thickie like me understand how China can replace all the income lost by selling far less to the rest of the world by printing more money.

Some official at their central bank or Treasury would create whatever number of new yuan they care to. Britain has created £434 billion quid just as I described and called it QE (quantitative easing). True story.

[lardy]

Some official at their central bank or Treasury would create whatever number of new yuan they care to. Britain has created £434 billion quid just as I described and called it QE (quantitative easing). True story.

That's interesting. I didn't know economics was so simple. I can't believe that everyone's worrying about trade deals when organ Morgan says on ccmb politics forum that we can just print more money. Presumably people are then flying around the world with briefcases full of billions of dollars of freshly printed bills to buy materials.

I've learned something. Thank you.

[Wales-Bales]

That's interesting. I didn't know economics was so simple. I can't believe that everyone's worrying about trade deals when organ Morgan says on ccmb politics forum that we can just print more money. Presumably people are then flying around the world with briefcases full of billions of dollars of freshly printed bills to buy materials.

I've learned something. Thank you.

How's the Steele dossier going? Got any more updates? I love it when you share your intellectually superior knowledge with everybody

[Organ Morgan.]

That's interesting. I didn't know economics was so simple. I can't believe that everyone's worrying about trade deals when organ Morgan says on ccmb politics forum that we can just print more money. Presumably people are then flying around the world with briefcases full of billions of dollars of freshly printed bills to buy materials.

I've learned something. Thank you.

What I stated is indeed true. That £434B of was created in tranches. Labour started it in 2008, if memory serves, the Tories pilloried them, then when they came to power in 2010 did the same. It was more of the fake red-blue, left-right pantomime show. The Bank of England created all of it then sent it over to the Treasury who used it to purchase UK gilts. Gilts are debt coupons which are called bonds everywhere else in the world that have interest attached. As the Bank of England is wholly owned by the British state then Britain borrowed £434B from itself, minus any interest payments of course. The QE scheme is formally titled the Asset Purchase Facility.

However much the Chinese state loses revenue wise from an economic downturn because of the virus they'll offset in an identical way. The consequences will entail its currency's purchasing power declining, better known as inflation which Chinese citizens will pay along with anyone else holding their currency.

The purchasing power of the UK pound has fallen by around 98.5% during the past century. You can check for yourself at the BoE's inflation calculator. https://www.bankofengland.co.uk/mone...ion-calculator

[lardy]

What I stated is indeed true. That £434B of was created in tranches. Labour started it in 2008, if memory serves, the Tories pilloried them, then when they came to power in 2010 did the same. It was more of the fake red-blue, left-right pantomime show. The Bank of England created all of it then sent it over to the Treasury who used it to purchase UK gilts. Gilts are debt coupons which are called bonds everywhere else in the world that have interest attached. As the Bank of England is wholly owned by the British state then Britain borrowed £434B from itself, minus any interest payments of course. The QE scheme is formally titled the Asset Purchase Facility.

However much the Chinese state loses revenue wise from an economic downturn because of the virus they'll offset in an identical way. The consequences will entail its currency's purchasing power declining, better known as inflation which Chinese citizens will pay along with anyone else holding their currency.

The purchasing power of the UK pound has fallen by around 98.5% during the past century. You can check for yourself at the BoE's inflation calculator. https://www.bankofengland.co.uk/mone...ion-calculator

Yes I do know what QE is. I don't see how it will help China but you seem very certain that it will.

Shute has made a couple of interesting comments about your posts. Any thoughts on them?

[Organ Morgan.]

Yes I do know what QE is. I don't see how it will help China but you seem very certain that it will.

Shute has made a couple of interesting comments about your posts. Any thoughts on them?

QE = counterfeiting. Imagine if people had the ability to borrow from themselves at no cost and never have to repay the principal. A ludicrous notion because few would bother to earn an income by exchanging their labour. But that's what governments can and have done and the bill is saddled by everyone through the inflation tax of the depreciating purchasing power of their currency.

Combined worldwide debt stands at around £190 trillion ($250 trillion) and yet every country is mired in debt. Aye, every last one of them. As you know what QE is, perhaps you'd be kind enough to inform me who exactly is/are the creditor/s?