Euro-Zone Crisis

[VladimirIlyich]

I've been told that I'm a Luddite.

 

It's true that if I could I would "un-invent" the computer; I believe that for all the retrograde steps we would see or take, nonetheless, I also believe that we would all be far happier, more social, and far more employed and worthy than we are right now.

 

POF would also be a far safer, Toothless place.

 

Swim on...

 

POF wouldn't actually exist without computers would it?

 

There would be a mass return to school discos and church socials.

[Carvalho Diablo]

POF wouldn't actually exist without computers would it?

 

I know this.

 

Fuck knows what Tooth would do then mind ? Wander the streets at night with some rope, half a bottle of whiskey and his best disco pants ?

 

I'm melting...

[VladimirIlyich]

I know this.

 

Fuck knows what Tooth would do then mind ? Wander the streets at night with some rope, half a bottle of whiskey and his best disco pants ?

 

I'm melting...

 

He'd be the 30yr old old pretending to be 15 and cop off with the schoolies at the discos.

 

Failing that he'd join the priesthood.

[KopOut]

Excerpts from A SHORT HISTORY OF MONEY

 

 

 

MEDIEVAL ENGLAND (1000 - 1100 A.D.)

 

 

Here we find goldsmith's offering to keep other people's gold and silver safe in their vaults, and in return people walking away with a receipt for what they have left there.

 

These paper receipts soon became popular for trade as they were less heavy to carry around than gold and silver coins.

 

After a while, the goldsmith's must have noticed that only a small percentage of their depositor's ever came in to demand their gold at any one time. So cleverly the goldsmith's made out some receipts for gold which didn't even exist, and then they loaned it out to earn interest.

 

A nod and a wink amongst themselves, they incorporated this practice into the banking system. They even gave it a name to make it seem more acceptable, christening the practice 'Fractional Reserve Banking' which translates to mean, lending out many times more money than you have assets on deposit.

 

Today banks are allowed to loan out at least ten times the amount they actually are holding, so while you wonder how they get rich charging you 11% interest, it's not 11% a year they make on that amount but actually 110%.

 

 

THE TALLY STICKS (1100 - 1854)

 

 

King Henry the First produced sticks of polished wood, with notches cut along one edge to signify the denominations. The stick was then split full length so each piece still had a record of the notches.

 

The King kept one half for proof against counterfeiting, and then spent the other half into the market place where it would continue to circulate as money.

 

Because only Tally Sticks were accepted by Henry for payment of taxes, there was a built in demand for them, which gave people confidence to accept these as money.

 

He could have used anything really, so long as the people agreed it had value, and his willingness to accept these sticks as legal tender made it easy for the people to agree. Money is only as valuable as peoples faith in it, and without that faith even today's money is just paper.

 

The tally stick system worked really well for 726 years. It was the most successful form of currency in recent history and the British Empire was actually built under the Tally Stick system, but how is it that most of us are not aware of its existence?

 

Perhaps the fact that in 1694 the Bank of England at its formation attacked the Tally Stick System gives us a clue as to why most of us have never heard of them. They realised it was money outside the power of the money changers, (the very thing King Henry had intended).

[Section_31]

Class, the krauts and french are talking about a new European treatey which would allow northern europe to control the financial activity of the south, but, has been warned by standard and poors that even if it agrees a new deal the entire eurozone could have its credit rating downgraded on Friday afternoon, which would make its bailout fund defunct. Incredible stuff!

 

Bloke on Newsnight then saying that these credit agencies were the ones that misrated countries pre-2008, but now 'maybe they can say 'we don't like the French government, maybe we should get rid of that'. Unreal, I'm amazed people aren't more staggered by what's going on here, this is like proper revenge of the sith shit.

[stringvest]

The Credit agencies everyone is having kittens over will have no influence on any European financial policy in 12 months time.

[KopOut]

The Credit Agencies have admitted on more than one occasion, that they just hold 'opinions'.

 

Absolute joke; but then the whole fuckin' world in debt is a joke of stupendous proportions. People are sheep and happily go to slaughter.

[Anubis]

I know this.

 

Fuck knows what Tooth would do then mind ? Wander the streets at night with some rope, half a bottle of whiskey and his best disco pants ?

 

I'm melting...

 

He'd be the 30yr old old pretending to be 15 and cop off with the schoolies at the discos.

 

Failing that he'd join the priesthood.

 

Shame on you both. Tooth would be like Edward Woodward in The Equaliser, answering the call of internet damsels who are threatened by their violent ex-boyfriends.

 

[Section_31]

The Credit agencies everyone is having kittens over will have no influence on any European financial policy in 12 months time.

 

How come?

[VladimirIlyich]

How come?

 

They'll probably just disregard them.

 

If they are only an advisory body with no power then the likes of the US will just fuck them off and get on with business as usual.

[Einch]

How come?

 

EC refusing to recognise the ratings agencies could be one option.

 

Financial armageddon could be option 2.

 

I'm sure there are more.

[Gav]

nearly 60 years after their last attempt to rule Europe,Ze Germans will finally get to conquer the Continent in its entirity soon..ich bin ein Irlander

 

The EU is fucked ,the Euro is fucked

[Carvalho Diablo]

Tell ju whatt, I'M FUCKED

[VladimirIlyich]

I'm quite looking forward to donning Lederhosen and manufacturing top quality automobiles and public transport running like clockwork.

 

I'm not sure my intestines will be able to handle all that protein in the diet though.

[KopOut]

A Fisk Full Of Dollars.

 

"I didn't need Charles Ferguson's Inside Job on BBC2 this week – though it helped – to teach me that the ratings agencies and the US banks are interchangeable, that their personnel move seamlessly between agency, bank and US government. The ratings lads (almost always lads, of course) who AAA-rated sub-prime loans and derivatives in America are now – via their poisonous influence on the markets – clawing down the people of Europe by threatening to lower or withdraw the very same ratings from European nations which they lavished upon criminals before the financial crash in the US. I believe that understatement tends to win arguments. But, forgive me, who are these creatures whose ratings agencies now put more fear into the French than Rommel did in 1940?"

 

Robert Fisk: Bankers are the dictators of the West - Robert Fisk - Commentators - The Independent

[Sugar Ape]

French election results due soon, really hope Hollande wins. If he wins could this be a turning point in the ' austerity ' that is being forced on Europe? I think he'll be put in his place by Merkel.

[Anubis]

The two main parties in Greece seem to be faring badly as well.

[kalasoma]

It looks like Hollande has won for the Socialists. He is now the new President of the Republic.

[kalasoma]

Anyone else reckon Carla Bruni is off now that Sarkozy is no longer the president of France?

[Section_31]

Going to be a very interesting few months. The German-Franco axis sang from the same hymn sheet when it came to 'austerity', that shit won't fly now in France or probably in Greece, and rightly so.

[Guest Numero Veinticinco]

Going to be a very interesting few months. The German-Franco axis sang from the same hymn sheet when it came to 'austerity', that shit won't fly now in France or probably in Greece, and rightly so.

 

*whispers very quietly*

 

We might even see Labour take a step to the left now the 'any step to the left means electoral oblivion' mask is beginning to slip.

 

Probably not

[Section_31]

*whispers very quietly*

 

We might even see Labour take a step to the left now the 'any step to the left means electoral oblivion' mask is beginning to slip.

 

Probably not

 

Heh, I think the way to win elections now is to just say no to 'austerity', whatever the fuck that means. And rightly so. The whole thing is a fucking scam. The financial sector takes us to the brink of collapse and how do 'we' deal with it? Close libraries and withdraw social services, fuck that shit. Make the banks pay their fair share, and the rest of big business. (as for them being wealth creators, HSBC recently posted profits of £13.8bn but still axed 2,200 jobs, so it's obvious what we're dealing with here. Perpetual workforce regression until there's nobody left with a job and the British economy consists of a bank account in the Pitcairn Islands.

 

Besides which Labour have already been dealt a winning hand for the next election, every billboard need only read 'we'll restore the NHS'.

[Strontium]

Besides which Labour have already been dealt a winning hand for the next election, every billboard need only read 'we'll restore the NHS'.

 

 

Making a pledge like that would mean they'd have to surely follow through on it. There would be hell to pay when they didn't, as they surely wouldn't.

[Guest Numero Veinticinco]

Making a pledge like that would mean they'd have to surely follow through on it. There would be hell to pay when they didn't, as they surely wouldn't.

 

They've already said they'll repeal the bill. If they don't do that, you'll soon see my comments about broken tuition fee pledges were little more than a hissy fit. I'd go fucking mental.

[Section_31]

Spain has asked for a £100bn bailout for its banks. Greek elections a week away. It's gonna get messy.