British economic logic: Dig deep to get out of the well?

n/a • n/a
Subject: n/a
Tue, 10 Mar 2009 21:59:01 • N/A -Whether the money is created electronically or not, the fact remains it is a new supply of money.Would you not agree it is far easier to create money electronically rather than do it the old fashioned way i.e pressing an order for notes to be printed physically. Think of the waste in terms of paper etc. In the west, it is easier to create this money electronically because the bulk of transactions are carried out electronically (due to highly computerised financial systems). Whether the new money is created electronically or is printed physically, its still printing money out of thin air.In the olden days, currencies were based on a gold plate standard in the sense that the currency in circulation was backed by actual gold reserves. Currencies nowadays are not backed by any gold reserves especially the usd.So in actual fact the currency's value is whatever the people who control its printing decides what the value it should be.So when we look at issues of wealth, a guy with a million dollars in the bank the value of which is at the whim of market forces and those who control the money supply is probably poorer than the person whose wealth is tied up in land,gold, cattle etc. Have you noticed how some so called rich people have lost billons of their wealth due to the recession.Recession or no recession, one cannot loose one's land, this is where the wealth is.
Have you actually read the item in the Times? The articles states The Bank will pay for these assets by creating new money, electronically, in a modern-day version of running its printing presses.
The reason why the word printing is in quotes is because printing is usually associated with the use of printing press to produce hard copy. For your info, I never post articles I have not read.
Another homework for you is to visit this site and view the contents;(http://www.youtube.com/watch?v=NAc4n_DQ33I&feature=related).Check out all THE videos in this series.
Don't forget to give feedback. The issues you raised about Gono are noted and will be debated once you have seen these videos.

na • na
Subject: na
Tue, 10 Mar 2009 18:25:01 • Na you provide links to articles you have not read it seems. If you read the times article why do you the the words print money are in quoyes? You should do a little more digging for yourself and understand some of these concepts. Gono was busy printing money in real terms and dishing it out to buy political favours from the electorate. He was financing ZanuPF opeartions including the millitias. Its is really disheartening to find that there are people like you who will take things on the surface hook line and sinker without trying to verify the correct position. I am sure you have read Gono's book and you believe everything he says.

N/a • N/A
Subject: N/a
Tue, 10 Mar 2009 08:11:24 • The other N/A do you care to ell us how much of the printed money the Bank of England or the US Federal Reserve paid to militia in their own country to terrorise villagers? Can you also tell how much of that printed money was used to but 4x4 vehicles and 32 inch colour televisions for judges (and possibly try to link how such a scheme can be regarded as contributing to economic development)? Can you also tell us how much of the printed money in the US and UK was used to buy tractors and harvesters for farmers, and how many of them had to be repossessed after discovering that the beneficiaries are suspected opposition supporters? Probably you need to tell us whether such a stance was unilaterally done by one person, or there was a consultative procedure and open debate in parliament before hand to ensure that the printed money is used to benefit residents across political divides? Or you may also tell us the slogans and derogative remarks at opposition leaders that were passed by the presidents of the countries at the ceremonies to hand them over to the beneficiaries.

N/A • N/A
Subject: Printing money
Mon, 09 Mar 2009 20:47:02 • N/A -Instead of accusing the editor of not doing his homework, unfortunately it is the likes of you who do not have a clue about the subject.Whether you create the money electronically or by producing hard copy as Gono did, the end result is the same i.e increase of the money supply.What the Bank of England is doing has never been done in the 315 year history of the bank. Using interest rate as a monetary policy tool have failed to avert the downturn so printing money is like the last throw of the dice. Gono had to take extraordinary measures to deal with extraordinary problems. Gono was also working in an environment where the economy was being deliberately sabotaged and the country destabilised.When Gono adopted this policy , he was derided in all economic circles and yet we now have all cental banks in the West adopting Gonomics.Everyone from the Federal Reserve (US), the Bank of England and those central banks in Europe are all printing money out of thin air. Maybe the need to hire Gono as a consultant.
Check out these links:
Bank to 'print' £75bn of new money as it cuts rate ,March 5, 2009
(http://business.timesonline.co.uk/tol/business/economics/article5851028.ece)
The economy is on a wing and a prayer
(http://www.telegraph.co.uk/comment/telegraph-view/4945229/The-economy-is-on-a-wing-and-a-prayer.html 05 Mar 2009)
N/A, why is that when one of your own tries something different, you deride them and when the same measures are adopted in the west, you applaud that? Is that a chip on your shoulder?

Na • NA
Subject: NA
Mon, 09 Mar 2009 18:18:15 • For an editor I would have thought you do your homework. There is no printing of hardcash as Gono was doing. This involves electronic adjustments in money supply by issuing gilts and buying assets in companies by the central bank. So no MR Editor this is very differrent from Gonomics. There is no dolling of cash to Labour millitia and tractors and free wide screen TV to the whole bench.

Motormouth! • N/a
Subject: N/a
Fri, 06 Mar 2009 16:17:39 • Try telling that to the people who have always denied that there are sanctions against Zimbabwe that Britain is printing money like we do! All hell will break loose since the term ''quantitative easing'' was specially coined for these numbskulls who believe it is different to ''printing money''! Talk about semantics! Anyway, due to his rabid hatred for everything black and African, the Scotsman who has been fighting his racist war of attrition against us has been sentenced to premiership of political and economic doom. Anything he tries is bound to fail because the Almighty wants him out of office with the speed of lightining! His wish is also our wish and the sooner we see the back of this man the better we feel! The last time I read about Brown talking about the economic malaise his country finds itself in, thanks to his now inglorious stint as Chancellor of the Exchequer, was when he was claiming to saving the ''world'' from economic collapse! Hehhhhh-heh-heh-heh I make a seka! (laugh) Everything this man touches turns to wood because the Almighty has long since given up on him even the trip to the Pope for divine intervention wont help seeing that the Almighty wants a regime change in Blighty!