Comments by "Aden Wellsmith" (@adenwellsmith6908) on "There is no black hole in government funding" video.

  1. There's not a remedy. Do a thought experiment. Print vouchers. You can never run out of vouchers. Pay civil servants in vouchers. Now do you get it? How do they turn the vouchers into rent, food, purchases?
    3
  2.  @oneoflokis  So why do they support printing money?
    3
  3.  @stephfoxwell4620  🙂 Yep. Interesting isn't it they don't like the idea, which shows the falseness of their behaviour.
    3
  4. Trickle down will never work. Instead what's needed is that the workers invest their NI, own the wealth, and that's used for their old age. Then if they die, that money goes into their heir's funds. No tax on the funds, just on any withdrawals. That trickle up approach works.
    2
  5. Print vouchers. You can never run out of vouchers. Use them to pay PS workers
    2
  6.  @Ludus57  For vouchers, they are worthless. Why would any business accept them? For fiat, you have taxes and fines that create the value. So now look at debts. You have two types of debts. First is fixed rate debts, pay 5% plus principle. Also invoices and unpaid wages Second is inflation linked debts. Pensions, nuclear clean up, insurance losses, damages, the EU, ... For the first, you can print to pay. It screws your creditors because it creates inflation and they don't get back the value they lent. For the second it doesnt' work. As fast as you inflate the debts get bigger. These debts are transfers of value and you have to tax to make the transfer. Take from one set of people. Don't provide them with services. Give the money to someone else. ie. Austerity and asset stripping. You are also limited by your ability to tax. Inflation linked debts, debts for value, work just like a household.
    1
  7.  @oneoflokis  Where are the trillions the workers have paid the socialist welfare state? Why is the state spending 30% of tax on the debts? The cause of austerity All that wealth the Welfare state has taken has gone. Hence wealth inequality What if people had invested their wealth? They would have had assets. Instead they have debts, negative wealth.
    1
  8.  @oneoflokis  Why would tesco's accept them?
    1
  9.  @oneoflokis  Come on. They have paid the socialist welfare state trillions. Where's that wealth?
    1
  10.  @oneoflokis  They are dependent on the socialist welfare state because the socialist welfare state has asset stripped them. Now the state needs to make a 30% gross profit on its services to pay its debts. ie. You are just like the fireman who commits arson to claim to be a hero.
    1
  11.  @davidelliott8364  These are absurd analogies. For fixed rate debts, I agree. Not a household. You can print to pay, and screw the creditors. But for inflation linked debts and for spending, its exactly like a house hold. ===== This is an incredibly wealthy country ===== No its not. it's bankrupt. Here's your starter question. How much pension debt does the state have? You of course won't say.
    1
  12.  @davidelliott8364  How are you going to spread the debt?
    1
  13.  @marknaisby7384  So what's the 134.8 bn? How big are the unfunded liabilites? That's a debt. People are owed a pension. You are correct, they are in the trillions, but how many?
    1
  14.  @RogerRoving  The difference between the two is that you have to pay tax [albeit drastically reduced] in £ and the same for fines. For debts, its legal tender the £. For vouchers, they are just paper. But remember, we've doubled their salaries. When they were earning £50,000 they are now getting 100,000 vouchers.
    1
  15.  @RogerRoving  The reason for the voucher is to show people who think print to pay creates wealth and value, that they are completely barmy.
    1