Comments by "" (@foxmoongaze) on "Richard J Murphy" channel.

  1.  @charliemoore2551  Your comment just proves how little you understand about inflation, and that you have fallen for the CPI lie - real inflation is (much) higher. Inflation causes purchase prices for components to go up for vendors as well so they have to rise their prices. Gouging is nothing to do with inflation and some businesses will try it at any time if they think they can get away with i.e.: some think every Apple product is gouging........
    1
  2. Starmer is a fence post tortoise - "You know he didn't get up there by himself, he doesn't belong up there, he doesn't know what to do while he's up there, he's elevated beyond his ability to function, and you just wonder what kind of dumb arse put him up there to begin with."
    1
  3. Any narrative not toeing the line is shut down, and fear mongering and control of speech keeps us in line. The main stream media won't tell us what Richard does, and so it continues.....
    1
  4. Why save all your life when so much purchasing value will be sucked out of it by the time you claim it back. Pensions rarely maintain the value of the deposits over time, and pension companies are forced to take bigger and bigger risks to earn a return needed to satisfy claims. Only the government can print money out of thin air to pay it's pension obligations. The big corporations such as Blackstone plough large parts of their wealth into land, property and real assets because they know anything else is risky - maybe we should do the same......
    1
  5. If Trump is a fascist, then Harris is a communist.
    1
  6. The BOE is not private on paper now, but it was for most of it's 300+ years of existence. I'm sure the BOE answers to the global bankers and protects their interests first.
    1
  7.  @Vroomfondle1066  Historically, many public sector investments seem to have been poor value for money or catastrophes. They may have been started with the best of intentions. The government is very excellent at spending money though.
    1
  8. Joining the EU in it's current state would be disastrous for the UK. The EU is in terrible condition and Brussels seems to be rotting from the inside out. It seems everywhere in Europe (including the UK) money and power is being slowly moved into the public sector, which turned out badly for the populations of the USSR .... just saying.
    1
  9. Thank you for confirming to people that creating too much money causes inflation. Too many people believe inflation is caused by prices rising, when in fact that is just a consequence of inflation devaluing the currency. Using taxation to control inflation seems to have been implemented in a very unfair way, and what happens if all, or much, of the credits issued are called in by the lenders domestic and foreign? Is this when taxation shoots to the moon as per the 1960s?
    1
  10.  @Vroomfondle1066  Inflation by definition refers to inflating something, in this case the volume of money, nothing else. If you are talking about prices rises, they nearly always rise as a consequence of inflation, sometimes for other reasons such as a temporary supply shortage for a specific thing.
    1
  11.  @legalfictionisfraud  I've only done that because Richard was using the word "money" and sometimes people get confused otherwise. But, you are correct, it is a fiat currency, a credit note, a promissory note .. of nothing. Money is specie.
    1
  12.  @WarrenPeaceOG  The currency does not need to devalue if new creation is broadly in line with increased productivity. What we have is too much currency creation and a steady move towards zero, which is not sustainable, and not healthy. Keeping fit and expending energy requires dedication and the correct amount and type of food/nutrients - too much food, and of the wrong sort, will make you fat, unhealthy, and finish you off more quickly.
    1
  13. I agree, and think we should be more worried about the nuclear war Starmer and the western warmongers are pushing us into.
    1
  14. I agree 👍
    1
  15. I think either party in the USA will be bad news, but Harris and the Biden regime are the worse out of the two choices? Just as in the UK Labour was the worse choice out of a bad selection. The west and especially the EU are currently fecked.
    1
  16. Government treasuries and central banks seem to be similar to a big legalised Ponzi scheme, with the debt managed by inflation and devaluation of the currency.
    1
  17. They can just borrow the 22 billion if the wanted to, just as they do to send billions of aid and war aid to other countries.
    1
  18. The mainstream media peddle the claim that 97% of (climate) scientists believe in man-made Global-Warming and that, therefore, there is no debate to be had on the subject. This is false and irrelevant. To get the 97% figure, they basically counted people who had mentioned Climate-Change in an abstract or heading of a scientific paper. Reviews of the work show that, in fact, only 0.3% of the papers claim that ‘man had caused most post-1950 warming’. Science isn’t about consensus, it is about fact.
    1
  19. My father drilled it into me that I should save to buy what I want, never borrow. If I buy on a credit card it's paid off every month. The only debt I've ever had is a mortgage. Often when saving for something I realise I don't really need it 🙂.
    1
  20. The government just spends, and will continue to spend more than the country can provide. The UK government finances have been a joke for 25 years and no amount of reform will now save it without a major reset of some kind - and that may be temporary. The UK used to be a manufacturing giant and ruler of the waves, and since been living on the coat tails of the USA and the bounty of other parts of the world through force. We are seeing an unravelling of the old and the dawning of reality - same for most of the West. Sorry if I'm being a doomster, I'm not feeling very positive today - I'll go get a coffee and a piece of toast, and hope the sun starts to shine 😉
    1
  21. I have children and understand why you would support the idea, but there is more to it than the rose tinted view point. What would happen on reaching 30 years old, would people have to come home? At what age would the free movement start? What about medical, educational, housing, taxation, benefits, criminal costs etc. I think it would turn into yet another EU/UK debacle.
    1
  22.  @abody499  what what
    1
  23.  @abody499  Just saying "what" is pointless and helps nobody, just as then saying you are "perplexed" with no explanation ........ better to say nothing
    1
  24.  @abody499  🤣🤡
    1
  25.  @abody499  enough, enough, you are too clever by far 😄
    1
  26.  @abody499  Ok, but, I'm sure everyone is liked by some and disliked by others. Did you have an actual comment about his statement? BTW - Felix Somary was respected by his peers, and by economists of the time, he has since been described : "as the greatest economic and financial specialist in financial crisis analysis and forecasting ever.".
    1
  27.  @abody499  Er, maybe wind it back a bit as you are rather missing the point. No one is asking you to accept anything, just think about what he said, which obviously was the point of the post. Stop worrying about how great or not he may have been. Good luck and good day 😉
    1
  28. For the duration of the loan, the additional money created will inflate the money supply. Over abundance of anything devalues it, which is a problem we have been experiencing for quite some time with our currency, is this solely due to the large and increasing national debt not being paid off? Do defaults on loans permanently inflate money in the system?
    1
  29. Why should I care about carbon when China built 40 new coal fired power stations this year, and the west destroyed a pipe line in the Baltic sea releasing half a million tons of methane into the atmosphere? Then there is bitcoin which consumes the same amount of energy as the whole of the UK, and the constant, and avoidable, wars pumping out countless tons of co2 and muck. If politicians really cared we would have a far more peaceful and equal world, but instead their strings are pulled to make a few very very rich at the expense of everything else. Why should I care?
    1
  30. I'm pretty sure that the Gov/BOE will inflate their financial worries away along with the value of the GBP. They only have printing ever more currency as a solution, as doing the right thing by reducing the government, social services and the money supply would be unpopular and painful for a while - especially for the banks who really run things.....
    1
  31.  @downshift4503  Sure, but the biggest cause is low interest rates that the banks can borrow at that encourages them to lend money - i.e. inflate the money supply, which is inflation devaluing the GBP. I would prefer a proper free market and don't believe heavy regulation ends up helping the public - just as minimum wage and price controls only end up achieving the opposite, i.e.: jobs disappear, and products disappear or reduce in size/quality.
    1
  32. I think the central banks and commercial banks prefer peoples heads to hurt, and not understand how they work. Making a loan by tapping a keyboard, then benefiting from the interest paid on it, is literally money for nothing - sure there is a risk of default but for the most part the risk is very small.
    1
  33.  @karenrock3864  The climate will be fine, it's the active destruction of the real energy sector by government and NGOs that will be the problem. If the government can monitor and control our movements by removing personal transport and forcing us to use tracked public transport they will be happy, no matter the cost and pain inflicted. There are, and have been, fake issues designed to scare us into willing submission.
    1
  34.  @gdok6088  Spend, spend, spend, all with new borrowed money which inflates the money supply and devalues existing money causing big price increases for the public. Eventually faith in the countries finances is lost meaning big interest rates rises until one day no one will lend to it anymore, hello IMF and the debt spiral.
    1
  35. Do we really need the BOE at all? So much war has been enabled since it was created making some very rich.
    1
  36. Money used to be capital when it was a physical metal, but what is money now? Our currency is no more than debt notes promising something of ever decreasing value from the government/treasury. If we use government borrowing/spending to fund projects does that not cause inflation and devalue the currency further, and cause bigger issues by undermining confidence?
    1
  37.  @Tensquaremetreworkshop  I know there have been previous debasements, and it has always caused, or indicated, huge problems. It signalled the start of the fall of Rome. If money does not provide a long term store of wealth it is not worth saving. Any debasement or inflation only benefits those who receive the new money first, everyone else loses.
    1
  38.  @RichardJMurphy  So why is a central bank good for the public? I'm sure it's good for the big financial institutions, but the whole thing looks a bit like a Ponzi scheme. A debt that can never be paid off and requires new money input to be able to pay obligations to earlier investors. If the bond buyers stop buying won't the whole thing collapse? Oh, wait, that's where the BOE steps in and becomes the buyer of last resort I guess. So the scheme always continues, the problem is kicked down the road, the debt inflates and the currency slowly becomes worthless.
    1
  39. ​ @Tensquaremetreworkshop  Are you thinking people/directors/companies should not be accountable? It's perhaps a scary thought, but also seems more honest. Perhaps insurance would be a better way to protect against personal loses rather than limited liability as that may promote directors to take fewer risky decisions for personal profit and focus more on company health.
    1
  40. Do we have a democracy when those voted into power can break promises, take us to war, and create whatever rules or laws they like without consent from the population. Do we have democracy when the choice of whom to vote for is basically limited to 2 corrupted parties sharing the same basic agenda. This is probably the reason 50% of the UK population didn't bother to vote this year.
    1
  41.  @kevinsyd2012  Unless the tattoo is a treasure map to gold 😄
    1
  42. A government can never run out of money, but the money can run out of any value to buy anything. Printing money to buy whatever the government wants is another form of taxation on anyone holding the currency. The currency will be dropped around the world and the only lender will be the Bank Of England ..... goodbye GBP!
    1
  43.  @steviesteveo1  Only the state can cause inflation, which is the increase, or inflation, of the money supply. Inflation devalues the currency, which is why it's a problem for anyone who has the currency, or gets paid with it.
    1
  44.  @InnuendoXP  I do agree with you, but, most other influences are shorter term affects and not the fundamental reason for inflation, which is always an increase in the volume of money created. Most people confuse price rises as inflation rather than the consequence of it. I also think we shouldn't really call our currency "money" as in reality what we use now is a credit or promise for money... but that's a whole other thing :)
    1
  45.  @WarrenPeaceOG  MMT is a failed experiment, we are now suffering the consequences and realising that deficits do matter........ Milton Friedman just repeated what others have stated many times over the past centuries.
    1
  46.  @andielines  Thanks for the thoughtful and enlightening feedback!
    1
  47.  @Redf322  You can't have less workers, only fewer workers! Big government, and big government spending always favours the rich few, and any country that relies increasingly on government to employ the population is heading towards socialism and communism. Small governments are more efficient and usually don't meddle in all aspects of life, allowing freer trade where small productive businesses thrive employing many many more workers. Governments are not productive and they almost always "invest" badly and wastefully - so history has always shown us.
    1
  48.  @blackbulldog4897  Yes, it's playing with words, and I said nothing about what is and isn't possible, I said however they word it we get the same result. Creating endless £s (inflating) without the resources to match, which is what the UK has been doing , debases the £ and confidence in it's value is lost- I would think that was obvious.
    1
  49.  @garethhumphries4039  If we didn't have a constantly over inflating money supply we would not need inflation targeting taxation. By the way, the currency has already "plummeted" and lost 98%+ of it's purchasing power since the early 1970's due to inflation.
    1
  50.  @blackbulldog4897  People lose confidence in a devaluing currency (over inflated) as it's purchasing power falls. Saving in a fiat currency is a sure way to lose wealth, so the stock market and assets are bought instead as there is little "confidence" holding the currency will maintain wealth - over and out😉
    1