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interestrateripoff

Listed below are comments made by interestrateripoff between Monday, 22nd December 2008 and Wednesday, 17th June 2009.

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Governor criticises government (again) 8:46pm on 17 Jun 2009 It appears that Mystic Merv is developing some balls.

Although to be fair he doesn't appear to have got the message that the govt plans to pay the money back by getting the BoE to print it and inflate the debt away.

Or he has got the message which is why the BoE pension scheme is betting on inflation.

Clearly this plan is lunacy but when the country is run by a delusional megalomaniac what do you expect.
The writing on the wall 5:14pm on 23 Jan 2009 "While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. Greed and fear of scarcity are being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely not enough work for everybody in the world, but there is clearly not enough money to pay for it all. In fact, the job of central banks is to create and maintain that currency scarcity. Money is created when banks lend it into existence When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000."- Bernard Lietaer, Former Central Banker
The writing on the wall 4:11pm on 23 Jan 2009 http://bit.ly/iE6Y

Has anyone at the BBC seen this graph????

Have any of these expert economists seen the graph?

Can you spot anything slightly worrying about it?

The US has already far exceed the debt bubble prior to the 1929 crash, if all the variables are the same this recession is going to be bigger, longer and deeper than the Great Depression. The only difference is this time the whole world suffers.

Why isn't anyone at the BBC doing some basic research?
The writing on the wall 1:55pm on 23 Jan 2009 24. At 12:52pm on 23 Jan 2009, NotMeHonest wrote:

"Ah, so the first 15 or some people to reply saw this coming, and knew all along - but have only now decided to tell us. That's good.

I'm personally looking forward to reading more of this blog."

http://bit.ly/AOJk

I think you'll find I've been on about this for a few years and was ignored.

housepricecrash has been highlighting this for even longer.

We are not now just sharing the information, you'll find the information was ignored by the media to keep the myth of house price inflation going.

The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years.

Does anyone serious believe this was going to happen?

The banks wanted to keep house price inflation going as volume lending on ever increasing house prices was extremely profitable.

What was going to happen was inevitable debt had reached unsustainable levels and interest rate rises where going to trigger a huge default.

But yes your quite right we all kept quiet about until it all went pearshaped.

Perhaps some basic research before opening your mouth could be in order?
The writing on the wall 11:41am on 23 Jan 2009 Again the press lies, this was seen and was forecast.

I predicted this would happen.

www.housepricecrash.co.uk predicted it would happen.

What you actually mean it that no one who's paid huge sums of money predicted it.

Question is are these people worth the money.

Why is the BBC using govt propaganda and calling this a downturn admit what it is a recession or a brownturn.

The amateur economists have the upper hand.

Perhaps the BBC should concentrate on what Roubini is predicting?
Bank of England: wrong and powerless 07:58am on 22 Dec 2008 Perhaps the media really should be interviewing me. The one person campaign highlighting that interest rates are a rip off and completely flawed.

Now the powers that be are admitting that interest rates are flawed perhaps it's time to talk to people ahead of the curve.

Of course that won't happy as I'm not famous nor have money so I'm not important.

Everything the former deputy is saying I've been saying for years.

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