Comments by "antonyjh1234" (@antonyjh1234) on "Why doesn’t the Bank of England tell the truth?" video.

"Bank" not banks, the RBA, the banks fund us. It's unsettling to realise that debt is created at around 4 cents per hundred dollars to create and we pay it back with our lives, full value. Edit I suppose we fund them with money borrowed from commercial banks, to pay their borrowings, half our life's work efforts go towards the govt through income, fuel, gst "taxes" just to take money out of the system, instead of making our lives easier by doing less, absolutely crazy system.but we have to understand "they" have been trading thousands of years with money and promissory notes and we were born into a debt based system thinking money is valuable without understanding it is just banker debt. Can you imagine any Australian politician coming out and truly explaining money, it makes me think business interests need the dumbest people at the "top"
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It is a way to remove money so people experience poverty otherwise they won't do anything but lounge around and enjoy their lives, if small farmers get pushed out there are a few people in govt that know large business interests that will buy them, the business of govt is business and it is to suck as much energy out of the people as humanely possible and keep the ball rolling because change would mean a decrease in workload, boom AND bust is part of the economic model I'm afraid.
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Any central bank most definitely wants interest, it wants growth, that can be defined as higher prices in the economy. Its job is not to control inflation it is to cause it.
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@garethhumphries4039 I'm saying in the comment that the relationship is direct between how much spending/borrowing that would happen, I understand non linear but that's not that point made. If spending/borrowing is dependent on the amount of current debt then the relationship is affected by it. No govt is going to say lets cut taxes to zero and keep the same spending for inflationary reasons so I was mentioning they are connected but not dependent.
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@fulloftruthguardian5420 If I fund you money am I lending it to you?
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And then what?
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@gj55223 Repayment of the loan makes the money not exist anymore, all money is debt and one side or another of their ledger. If I give you a pair of scissors and you give me a pair back no profit was made even if it costs me four cents to make that pair.
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@gj55223 if you give me a piece of paper and i give you one back where is the profit?
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I understand what you are saying in managing debt levels and in a way taxes do pay for current spending because if there were no taxes being collected they wouldn't need to borrow and if they did it would be a lot less but what do you mean money to pay back current borrowings, as soon as the debt in incurred it could be given back, the debt exists at the same time the money does. The govt doesn't have that debt, as all money is debt, all money in our pockets is debt they are the go between us and the bank that wants to earn interest.
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@garethhumphries4039 Yes I understand that, what part of my conversation caused this reply?
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@garethhumphries4039 Any central bank most definitely wants interest, it wants growth, that can be defined as higher prices in the economy. It's job is not to control inflation it is to cause it.
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@garethhumphries4039 Any central bank most definitely wants interest, it wants growth, that can be defined as higher prices in the economy. It's job is not to control inflation it is to cause it.
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@garethhumphries4039 It's not debt interest alone, it's that new money must enter the economy to meet the existing debt along with the interest, it's like a ponzi scheme that people are forced into. We call growth things this debt can be put into, real estate is a debt trap and as long as there are people who are able to get new loans then new money enters the system and if that debt can pass through something, those things have an assumed value, because as I say that money is not in the economy to buy them.
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@garethhumphries4039 It's not debt interest alone, it's that new money must enter the economy to meet the existing debt along with the interest, it's like a ponzi scheme that people are forced into. We call growth things this debt can be put into, real estate is a debt trap and as long as there are people who are able to get new loans then new money enters the system and if that debt can pass through something, those things have an assumed value, because as I say that money is not in the economy to buy them.
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@garethhumphries4039 It's not debt interest alone, it's that new money must enter the economy to meet the existing debt along with the interest, it's like a ponzi scheme that people are forced into. We call growth things this debt can be put into, real estate is a debt trap and as long as there are people who are able to get new loans then new money enters the system and if that debt can pass through something, those things have an assumed value, because as I say that money is not in the economy to buy them.
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@garethhumphries4039 It's not debt interest alone, it's that new money must enter the economy to meet the existing debt along with the interest, it's like a ponzi scheme that people are forced into. We call growth things this debt can be put into, real estate is a debt trap and as long as there are people who are able to get new loans then new money enters the system and if that debt can pass through something, those things have an assumed value, because as I say that money is not in the economy to buy them.
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@garethhumphries4039 We call growth things this debt can be put into, real estate is a debt trap and as long as there are people who are able to get new loans then new money enters the system and if that debt can pass through something, those things have an assumed value, because as I say that money is not in the economy to buy them. It's not debt interest alone, it's that new money must enter the economy to meet the existing debt along with the interest
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@garethhumphries4039 It's not debt interest alone, it's the amount of money that is increasing and we put this debt into property and other silly things. The issue being new money always needs to be entered into because of the interest.
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All national debt as soon as it is spent is what we call money, we agree on that? All money in the world is created by debt because we are a debt based society? All debt is owed to the commercial or central bank and all debt is money and if there were no debt there would be no money in the world? If so what don't you agree with?
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Telling the MP's, those mouthpieces for business interests, probably common knowledge amongst the least progressive and as long as they keep the stupid ones busy, everything keeps going as usual, and you like usual, don't you?
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@fulloftruthguardian5420 What are you talking about?
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@MrPetr74125 I'm not sure of your point, money isn't valuable just because it's a measure of account, we could use sea shells in its place, I ma not sure how the bank lending money is different, both are the meaning of fund, that is the literal meaning of the word to fund an account is to supply funds, so not sure what you mean in your second message to me, neither of them came through to me I saw your comments because somebody else replied but I am confused on how debt issued by banks isn't funding or lending and am confused how what measures the total amount of goods is supposed to be valuable, just for this?
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@fulloftruthguardian5420 Do you know of any situation where funding is said that is never to be paid back?
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@fulloftruthguardian5420 Oh a verb or a noun defines if it is paid back ever uh? Do you know of a time or can you not admit they are the same, if you give anything to someone and expect it back doesn't matter on the time isn't that always a loan? If you give people something and never expect anything back for it, that is giving, isn't it? Edit maybe you are not full of truth
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@fulloftruthguardian5420 Yes, you are so full of truth, that you guard it so well. Are you able to share the experience of it existing in reality and could you describe it in a sentence?
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@fulloftruthguardian5420 No you are right full of truth and tells people to read a dictionary, take a breather from standing behind the truth, thanks I will.
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There is no way an egg will come first, always the chicken.
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Yes, the debt is money where did he say different? The debt issued by banks has to be created first, as soon as it hits an account it is then called money. He was talking about peoples deposits is not what banks use for loans.
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What is the debate you are proposing because I don't see one in your comment, I see someone say the mmt model has no argument against it and if they did it would be like talking to a flat earther so at the risk of that I would like put to forward one or two. It costs around 4 cents per hundred dollars to create this debt, we pay it back full value, with our lives and efforts. The issue with creating debt out of thin air and calling it money and other people think it is valuable is if the world says I don't want to hold American money anymore or UK and like Brics, will take value for value of goods and in a world where goods may be the only things valuable, that holding something that is just a means of exchange, backed by nothing but our belief, that can have issues. The other issue is this debt is being created, it enters the economy as money spent by govts, where we have no choice where that spending goes, we are supposed to wait for the trickle down and be happy, that money or energy could have been directed in any way, it doesn't really matter if we all stood on our heads, as long as the money enters it must leave again but to say all this effort from us the public to be forced to earn bank debt, to exchange it to live has issues that need to be discussed more than it's the economy, nothing to see here, let's move on. I think it would surprise a lot of people that money doesn't build up in the system, that taxes make money disappear, the public education system teaches people to get a job, just to earn debt. For all the value of the property in the Uk, there isn't the money to buy it. Most people think they have to just get some money because there's so much of it, they don't realise for new money to come, new debt must be made, give people that belief that all money is bank debt, I doubt as many people would steal it. There's certainly debates to be held around this term what we call money and the lack of understanding amongst the public and why we should let that continue without directing that energy towards sustainability or the health service but surely we could do better than war and real estate.
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