Re: There is no currency that banks hate.

In most countries, the system worked.

It worked ? It worked for who ?

For all of those whose economies didn't collapse?

What ? - like those whose economies weren't complicit in the fraud ? Good for them (if they were one of the western economies that were able to avoid having the pain meted out to them from those above). The UK (and US) on the other hand relies on "financial services" for 10% of its GDP - and for the people therein there was (and is) no escape.

As someone living in US, can tell you it's working fine thus far. Live in a nice house, eat good snacks, drive a fun car, streets are safe.
So your suggesting that "for the people therein there was (and is) no escape" begs the question: WTF you talkin' bout?
No one is trying to escape, Mexico ain't building no wall to keep Amerifats out, we're good were we're at, brah.

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Quote from: whored on May 14, 2016, 08:07:09 PM

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It means a loss to the UK taxpayer of £13billion ... it was the central bank creating money out of thin air and placing it on the balance sheets of the commercial banks that I was referring to.

What you're doing here is not making any sense. How could bailing out banks cost the taxpayer anything above the printing cost of the filthy fiat that's printed out of thin air?

QE isn't a one off payment/windfall to banks, its an ongoing subsidy. Also monetary debasement/devaluation/direct vs indirect costs to the average Jo.

An ongoing subsidy you say? So they're printing filthy government scrip out of thin air on ongoing basis? Horrifying! The power bill for those printers must be astronomical. Hey, now that I think about it, fiat is a bit like bitcoin, costs money to print it out of thin air. Neat.

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Quote from: whored on May 14, 2016, 08:07:09 PM

"Gentlemen, let's adapt bitcoin instead of trying to stop it. One very intelligent bitcoiner explained to me how then we'll be able to successfully lose control of the monetary policy, crawl in some corner and die. Seems pretty attractive, so let's hurry up and stop printing our worthless scrip and embrace bitcoins!" -- Every Government Ever

Thanks for your input Mr. Osborne/Yellan/Dimon.

Just making sure you understand that the odds of any government letting that shit happen are zero. Partially due to edgy bitcoiners like yourself