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 Post subject: Re: Compound interest the greatest evil in the world ?
PostPosted: 07 Oct 2011, 20:29 
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Grumpy Old Man

Joined: Thu Oct 13 2005
Posts: 1101
murf wrote:
Even 'real money' isn't real. Look at your notes, they say 'I promise to pay the bearer.....'.

They are just IOUs from the Bank of England and you are a dirty money lender....

I wonder if i could go into my bank and claim my 240 pennies of solid sterling silver for every IOU pound they owe me, i guess not, but why not ?, i suppose they have changed the law, have they. :lol:


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 Post subject: Re: Compound interest the greatest evil in the world ?
PostPosted: 07 Oct 2011, 20:33 
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FISO Baron
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Joined: Thu Oct 13 2005
Posts: 61584
Location: Chilling in a Fantasy Football free world
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I may have been a tad slack in researching that post....


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 Post subject: Re: Compound interest the greatest evil in the world ?
PostPosted: 07 Oct 2011, 20:36 
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FISO Jedi Knight
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Joined: Thu Oct 13 2005
Posts: 37019
Location: .. he thinks that he knows something which he doesn't, whereas I am quite concious of my ignorance.
Just for trampie

The last time we went back on to the Gold Standard which was even more stupid and arrogant than our insistence that sterling had to be worth 3DM, as opposed to 2 - 2.5DM in more recent times.


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 Post subject: Re: Compound interest the greatest evil in the world ?
PostPosted: 07 Oct 2011, 21:01 
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Grumpy Old Man

Joined: Thu Oct 13 2005
Posts: 1101
trampie wrote:
At one time there was a 'gold standard' where paper money was tied to gold, today the limit on credit is endless and debt has no limit it just keeps on growing.

Im sure i've seen it somewhere that lots of the Europeans [including the Brits obviously] tended to have their money tied to silver [the rest of the world, gold], i know we did go over to gold at one point late in the day, now our money is apparently tied to securities, i think as an individual i would rather it was tied to gold or silver so i could go into the bank and say 'i want my bar of gold please' or 'i want my sterling silver pennies please'.


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 Post subject: Re: Compound interest the greatest evil in the world ?
PostPosted: 20 Oct 2011, 23:31 
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Grumpy Old Man
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Joined: Sun Jan 04 2009
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Location: the north bank..
FS Record: wdt winner x3 :)
‎[We seek] a condition of society in which there should be neither rich nor poor, neither master nor master’s man, neither idle nor overworked, neither brain-sick workers, nor heartsick hand workers, in a world, in which all would be living in equality of condition and would manage their affairs unwastefully, and with the full consciousness that harm to one would mean harm to all—the realization at last of the meaning of the word commonwealth. — William Morris :wink:


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