Comments by "Edward McLaughlin" (@edwardmclaughlin7935) on "Richard J Murphy" channel.

  1. More importantly, why are young people dying in greater number than prior to 2021? It's a real puzzle.
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  2. Every time the term 'inflation' is used here, what is actually being referred to is a rise in the price of things. Why is the phenomenon of monetary inflation totally left out of this account? Our current bout of state-sponsored extortion has in the main been due to the fact that the pool of our currency has been drastically diluted, weakened in its buying power by the hundreds of billions of promissory pound notes newly injected into the system, chasing pretty much the same amount of goods and services. The general sentiment of this video is of the 'calm down and put the kettle on' variety. All things must pass, fair enough; but what we are now being subjected to is of such huge proportion that it will damage so many in the process; and who is to say what the people who did this might have made ready to unleash on the populace?
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  3. If the BofE told the public what they do and why they do it, they would be banged-up for a very long time.
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  4. Some rich people will leave, some will stay. Some less rich people will similarly make their choice. One thing is for sure: everyone who chooses to live in UK in the next few years, will see their wages/savings/pensions denuded in incremental stages by the conscious programme of the increase in the amount of currency made available and the inevitable consequence of the pound having its buying power diminished. It's the favourite trick in fiat currency's book; and one that never, ever gets mentioned by Richard J Murphy.
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  5. It's actually time to grow up, Richard.
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  6. 1. Control. 2. War. 3. Control. 4. War. 5. Control. 6. War.
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  7. We have been travelling wilfully away from the nurture of creativity, for many decades. The way that English and Maths are taught is pitiful. Pupils are confronted with a mass of mechanical abstractions, tick-box diktats, that seem perfectly designed to alienate subjects from the sensibilities of young minds.
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  8. Very strong argument. We penalise production while we complain that we don't produce enough.
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  9. In what sense does the UK Government actually own the Bank of England? If it is owned by the Government, then how is the Bank of England in any way independent?
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  10. Labour's story is the WEF's story, as was the Tories' story. Vote whichever way you want - you've got WEF.
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  11. I think that in truth, more than 22% are unhappy, but they just don't want to appear to have that so-unattractive trait: a negative disposition. Actually, British youth have the edge over their 'more contented' European counterparts, in that so many of them have seen/are seeing the truth of the dire prospects they are faced with. The truth is that the UK government is solidly not on the side of any of its people, and this is the case with most of the other European governments, run as they are by globalists, to whom the whole notion of 'our people' is alien and to be extinguished, at any cost. Our rulers have come to revile humans. British youth are increasingly aware that they are being ruled by people who despise them. Young Germans, French, Italians etc, need to wise-up to their reality.
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  12. What a grip the pantomime retains on some people.
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  13. That Government promise. Everyone can rest assured that if you go to the Government and present a piece of paper that has lost over 93% of its value since 1971, they will give you a fresh piece of paper that has been degraded to exactly the same degree.
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  14. It's not so much that I don't like paying tax; I just prefer to use my cash to pay for stuff I like to own, stuff I like to do, places I like to go. My reluctance is made stronger when I witness what the various governments do with my money. I'm not keen on bunging £billions of weaponry to the likes of Zelensky, to give just one example. The Bank of England has been leeching from the product of our labours since its inception - that leeching was the reason for its imposition. Just like its offspring, the Federal Reserve, it is the means by which usury is practised in order to extort the maximum wealth it can from those who do the work, and to shunt that wealth to a tiny clique. It has been this way for so long now as to appear the natural way of things. It is nothing of the sort and we could and should do away with it. Within five years we would see huge improvements to not only our living standards, but our whole way of life.
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  15. I have never agreed to comply with any tax law. My agreement was not needed - the law was passed without my say. If the law demands that I 'manage' their money until I have to hand it over - for their having done nothing in return - then I am forced to do so. Not any part of this is by agreement.
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  16. plerpplerp Thank goodness Labour are here to put things right eh?
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  17.  @tyronebraithwaite6157  An independence that's in name only then.
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  18. £895 billion, injected into the currency pool, diluting every prior-existing £. So my wages in 2008 and any savings I had, were reduced in buying power by this action; and the money-printing goes on to this day. The stealthiest tax ever devised.
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  19. Superb. It is way overdue that the people were given the truth of how the banks work. Thank you for providing this.
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  20. How did the money-printing gambit go for the people who lived under the Weimar government? Did they run out of things to buy?
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  21. It's becoming a bit of a mantra isn't it? Of course the government can print itself any number of new pound notes. But when it does, how many of these newly crafted pounds will I need to earn to buy a loaf of bread?
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  22. The first thing to do is to stop taking what the ONS says as a true indicator of this - in fact any - situation. It is a government organisation; its business is to supply information that will best assist government aims. Of course it cannot tell outright lies, but it can take advantage of the many ways that statistics can be manipulated (see the recent 'revision' of the ONS's treatment of data regarding excess deaths in England and Wales since 2021). The real rate at which prices are rising is much higher than is stated by the ONS because it simply chooses to cherry-pick which items to include in its calculations. It is a fact that since the year 2000, the £ has lost 90% of its purchasing power. The real way to look at this is to talk not of rising prices but of the fall in purchasing power of our currency. The £ is a fiat currency, backed by nothing more than a promise from the Bank of England that has printed out of thin air, hundreds of billions of new £s, thereby 'diluting' the spending power of every £ that existed prior to that 'printing'. That is the true meaning of inflation and it is recognised by bankers and politicians alike, as the stealthiest tax of all.
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  23. Why do we need the Bank of England to give money to the government? Why can't the government issue money of its own? Does the Bank of England charge a fee on the money it provides? Where does any fee end-up? If markets are not needed by the UK government or by any government that issues its own fiat currency; then why do they not just ignore market activity? How for instance, was the £, during John Major's tenure as PM, plunged into crisis by market activity? If the gold standard is and is to remain the 'barbarous relic' portrayed here, then what on earth are so many governments thinking of in recent years, in their avid stockpiling of the stuff? Why are countries choosing to repatriate their stocks of gold, held, up to now in vaults in London and other trusted Western countries?
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  24.  @andielines  Well no, not quite. According to the BofE website, it makes a profit, only half of which goes back to government. Where does the other half go? Additionally, why would it make any sense to resort to a central bank to borrow money on which interest is charged, when the treasury could print all it needed without incurring any interest? Go figure.
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  25.  @davecross4493  Do you believe that?
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  26. Why sub-categorise poverty? If people are poor, then their children are poor. Just plucking heart-strings demeans the task of sorting-out the poverty hole.
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  27.  @Damnthematrix  What's brought it on?
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  28.  @johnburns4017  My question was why do we need the Bank of England? Why does the government not just 'provide' its money itself? The ownership of the BofE is actually moot. On their website it is stated merely that it 'has to answer to' the government. My other questions are well worth investigation. Put bluntly: profit is made and half goes back to the treasury - so who or what gets the other half
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  29.  @downshift4503  The BofE is nowhere declared to be 'owned' fully by the government. Even if it were, why would the treasury need it instead of issuing currency units directly instead of incurring interest charges? What caused the ERM to be removed? Market forces. What caused the downfall of Truss? Market forces.
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  30. If there were 'no such thing as taxpayers' money' then how would the government's account be cleared?
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  31. The £3 billion in pensioners' heating allowance that Reeves has ended, is over two years. In that same period, she has left in place the £12.8 billion that is to be spent on keeping asylum seekers in hotel accommodation.
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  32. We have to say yes? Sounding more authoritarian by the week, Prof'.
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  33. The 'property' referred to here, is in fact the labour of workers. It is that property which creates wealth. Tax is a legalised theft of the wealth that workers have created through their effort. Workers put up with it up to a point. Go beyond that point and they simply stop putting-in the effort.
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  34.  @downshift4503  I appeal to no law in my objection to having my possessions/wealth taken from me. It is wrong to anyone who has an interest in having a just society. Leave me with what is mine. Nothing circular in any of that.
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  35. "We"? On whose authority do you speak for a 'we'? I certainly don't know that Trump is a fascist; and before you make such grandiose claims, you really should substantiate them. I can't say I'm over-bothered who becomes US President, on the simple basis that if Trump wins, the Neocon deep state stays in power; while on the other hand, if Harris wins, then the Neocon deep state stays in power. This is precisely the same set-up as operates in the UK and in most Western 'democracies'.
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  36. Quite apart from the fact that we are asked to look at a chart that is nowhere shown, there is so much muddle-headedness in this talk. We are told that people 'saved' during lockdown - that they simply couldn't spend money. Internet home shopping has been with us for some time now, and it burgeoned during lockdown. We are told that the inflation seen in the last few years happened not because of the creation of new money. Really? Are we seriously supposed to believe that when the state created 400 billion new £, that this had no effect on the buying power of all the money that pre-existed that move? The reality is that all our wealth was diminished, as it always is, when the money printers are run; and this diminution of our wealth stays with us now and into the future. The money in our wages/savings/pensions has not and will not be returned to its former value. Inflation actually consists in that very increase in currency supply. Once introduced its effect stays. Loaves of bread have not gone back to their pre-2020 level, nor has the cost of houses. This video needs a re-run, with that chart.
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  37. robert Where does PR work?
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  38. The word 'legal' is key here. Of course, all tax belongs to the state, legally; but who legislates to put the laws in place? The state, through government, sets the rate of tax and so legally compels those who work and create wealth, to give up some of that wealth. It knows that if it sets that rate too high, it risks receiving nothing; for who would bother working if there is insufficient reward? The legal argument is not really what matters, for the laws will be made to do whatever the tax-takers choose. However, the real nub is what people feel is just. Set taxes at a reasonable level and workers will comply by going out to work and paying tax. There is a point though, at which the act of working becomes simply not worth the effort. It's not about legality, it's about the sense of injustice felt by workers. Until of course, the totalitarian state is brought about, and people can be forced to work.
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  39. How is any of this a shock? We are in the grip of the money party and they will allow us to wave our little red flags and then our little blue flags, and sing our anthems and feel happy while we are being made into paupers. Get a grip Mr Murphy. "Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When, through process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of the government applied by a central power of wealth under leading financiers. These truths are well known among our principal men, who are now engaged in forming an imperialism to govern the world. By dividing the voters through the political party system, we can get them to expend their energies in fighting for questions of no importance. It is thus, by discrete action, we can ensure for ourselves that which has been so well planned and so successfully accomplished." Montagu Norman, Governor of the Bank of England, addressing the United States Bankers' Association, New York, 1924.
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  40.  @andielines  Well according to the video, the account is cleared at least in part on an ongoing basis by the use of tax. Am I not understanding this correctl?
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  41.  @iwantagoodnameplease  As I understand the video, with the Bank of England.
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  42.  @andielines  Agree.
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  43. Honestly, that opening question sets the virtue-signalling tone. Are you seriously contending that there are people - and we are to term these people 'right wing' - who insist that children should not be fed? Name one such person. Not for the first time here, you speak emotively of 'child poverty' . There is poverty and it should be dealt with responsibly and pragmatically. Please stop posturing and start dealing in real-world terms.
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  44. Major problems early doors then, if a basic requirement of the successful operation of MMT is to have a government that has popular support. Show me one of those around here. When are we going to have a look at the way our fiat currency has been denuded of buying power through money printing? Or is that a bit too vulgar a subject?
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  45. andielines The creation of fresh currency units does not cause inflation, it constitutes inflation. If those fresh units are not directed into productive channels, then subsequent, general price levels will rise.
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  46.  @andielines  Every additional unit of currency degrades the buying power of all the pre-existing units. Goods and services remain at the same volume and therefore are sought-after by more units. In effect, the goods and services command more currency to secure their purchase.
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  47.  @oneoflokis  I agree. It's just I think it's not good to slag-off the profit motive per se. Without that we starve.
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  48. Basically, yes, and soundly argued. The only flaw I can see is in the regard shown to Rachel Reeves, which seems to stem from the assumption that she and the government of which she is part, is in any way striving to make the people of this country better off. She is taking the economy down to the ground, skilfully in incremental moves so as not to reveal her purpose.
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  49. Really? You mean, we've not built new nuclear power stations, we've shut down all our coal-fired power stations, we've decided, against the laws of physics, that we can rely on wind and solar to provide our needs into the future; and we find ourselves with looming energy shortages? Wow no-one expected that!
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  50. Penury here we come. All part of the plan.
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