Pound at all time low? Well that was a lot of fuss about nothing...

[wellyfish]

Printing money causes inflation which gets worse when there aren't enough people and resources to meet demand. That creates more inflation as supply is further squeezed, ultimately leading to civil disorder or worse. Wellyfish, the ultimate test is how people respond in practice to economic theory not what the theory says will happen.

Blup

Hey Blup,

Thank you for trying to engage in a positive manner. I agree inflation, real resources, are the constraint.

However, you've jumped ahead a fair bit. Let's get the basics fixed first. I'll come back to inflation later if you like.

For now, though, can you point out anything which I've said which you believe to be incorrect.

For simplicity, here's what I've said.

 

[ajohn]

Printing money causes inflation which gets worse

You don't think the opposite is true - inflation causes money to be printed. Control inflation and that sets the amount needed. The distribution of it in the general population is a problem.

Why did FIAT currency come about - simple, not enough gold to cover needs, That leads to a situation where markets dictate a currency's value.

Gov's did control the value by dealing in their own currency.. That ended because the market had so much of it that they could manipulate things and make profits,

When Labour, led by Harold Wilson, took office in October 1964, it was immediately faced with a deficit of £800 million, which contributed to a series of sterling crises.
Preceded by the Tory

One famous run on the GBP
Soros pocketed $1 billion on the deal and cemented his reputation as the premier currency speculator in the world.

There are others but that one popped up while we were in the ERM - the GBP was being defended as it used to be.

 

[Justin Passing]

Same challenge (and same prediction) to you:

. Point out what you think is incorrect about anything I've said
. Put forward your refutation and set out your understanding of how govt injects and drains

Here's what I predict you will do:

. Shout something irrelevant from the sidelines
. Run away when challenged

Here's your chance to prove me wrong.
The floor is yours. Go!

Why do you keep challenging other people when you just go rounf in circles yourself.
Because that's what trolls do?

Do you post elsewhere as David Icke?

 

[wellyfish]

Why do you keep challenging other people when you just go rounf in circles yourself.
Because that's what trolls do?

Do you post elsewhere as David Icke?

Same challenge (and same prediction) to you:

. Point out what you think is incorrect about anything I've said
. Put forward your refutation and set out your understanding of how govt injects and drains

Here's what I predict you will do:

. Shout something irrelevant from the sidelines
. Run away when challenged

Here's your chance to prove me wrong.
The floor is yours. Go!

 

[noseall]

Most of that is beside the point. I am asking, if the govt can create money from nothing, why don't they, when the country's problems are all caused by a shortage of money?

They do appear to want to solve our money problems - shortly they will be giving everybody £400. Why could they not make it a million each, or £500 each, or even £401 each?

Welly does not have an answer. Plenty of deflective waffle though.

 

[wellyfish]

Welly does not have an answer. Plenty of deflective waffle though.

Silence, so far, from noseall. Seems my prediction was correct.

I refer the honourable gentleman to post #117 in this thread.

 

[blup]

You don't think the opposite is true - inflation causes money to be printed. Control inflation and that sets the amount needed. The distribution of it in the general population is a problem.

I imagine inflation creates a vicious cycle where the cause becomes the effect and so on.

Blup

 

[ajohn]

I imagine inflation creates a vicious where the cause becomes the effect and so on.

Blup

There appears to be a definite intent to have a certain amount of inflation so I feel my comment is more plausible.

However when inflation is due to extreme external factors no control method will work. You need more gold or you need more action protecting your own currency. Anyway the GBP is up a bit again - is that because an increase in base rate is expected, get in early? The FED have been blamed for their rate increase and also the BofE for not acting earlier. Brexit resulted in low rates being held where as the FED went up briefly and then came covid.

LOL Truss said in an interveiw that she was sticking with the 45p cut the day before it was dropped.

Suddenly figures on all are expected this month, However the chancellor seems to be producing them. Suppose the OBR comes later.

Maybe a nasty thought about the BofE action. Pensions. Wondering where the money comes from I looked at sources of state job pensions. They appear to be in conventional pension funds. Are these related to what the BofE bought? Is this area investing in itself.

 

[Justin Passing]

Same challenge (and same prediction) to you:

. Point out what you think is incorrect about anything I've said
. Put forward your refutation and set out your understanding of how govt injects and drains

Here's what I predict you will do:

. Shout something irrelevant from the sidelines
. Run away when challenged

Here's your chance to prove me wrong.
The floor is yours. Go!

You're filling the thread with challenges, not answers.
That's what trolls do
What in your world prevents spending new money forever?
And no you maynot keep referring to posts which people evidently find do not provide answers.

We need some productivity from you, not just spending of forum resources. Otherwise the market will object and discount you completely.

 

[Pat ex]

Otherwise the market will object and discount you completely.

Some of us have already, for the reasons you quote.

 

[wellyfish]

You're filling the thread with challenges, not answers.
That's what trolls do
What in your world prevents spending new money forever?
And no you maynot keep referring to posts which people evidently find do not provide answers.

We need some productivity from you, not just spending of forum resources. Otherwise the market will object and discount you completely.

This post explains the dominant narrative and explains why it's nonsense.

You, and plenty of others on here, have swallowed that narrative whole, in one gulp, without a single critical thought. Ever. If you had, you wouldn't simply be nodding along.
Yet, you just nod along with it without understanding it at all. If you are honest with yourself you will accept that.

This post explains how govt fiscal ops work in reality. So far no-one has put forward any coherent refutation of my position although no-one has accepted it as fact either. What keeps happening is people shout "no" or "waffle" or some other bs.

Unless we can have some agreement on the injection side there is absolutely zero point in trying to move forward to talk about taxation or inflation (or anything else) as it's obvious you have swallowed the dominant narratives on those subjects in one gulp, without a single critical thought, too.

So, if you won't accept the these narratives that you have gulped down, without question, may at least be incorrect hit the ignore button.

 

[JohnD]

I wonder if wallyfish is capable of making a helpful post instead of trolling.

 

[wellyfish]

I wonder if wallyfish is capable of making a helpful post instead of trolling.

Lol.

Here's one.
Here's another.

Don't understand them?
No probs, I suppose gulping and nodding along takes less effort.
Gotta love that cognitive dissonance, eh?
Hit ignore.

 

[carmanmemoranda]

I wonder if wallyfish is capable of making a helpful post instead of trolling.

I am surprised anyone is still interacting with him. Ive given up, but im on his ignore list anyway so its no issue to me.

Just a simple explanation would be all thats needed for him to justify his position. But I am fed up of going round his circles to find out he has never said anything anyway.

I cant believe that everyone of us is wrong and he is the only one that knows. Its almost as if he thinks our money tokens are actual money

 

[Justin Passing]

This post explains the dominant narrative and explains why it's nonsense.

You, and plenty of others on here, have swallowed that narrative whole, in one gulp, without a single critical thought. Ever. If you had, you wouldn't simply be nodding along.
Yet, you just nod along with it without understanding it at all. If you are honest with yourself you will accept that.

This post explains how govt fiscal ops work in reality. So far no-one has put forward any coherent refutation of my position although no-one has accepted it as fact either. What keeps happening is people shout "no" or "waffle" or some other bs.

Unless we can have some agreement on the injection side there is absolutely zero point in trying to move forward to talk about taxation or inflation (or anything else) as it's obvious you have swallowed the dominant narratives on those subjects in one gulp, without a single critical thought, too.

So, if you won't accept the these narratives that you have gulped down, without question, may at least be incorrect hit the ignore button.

What makes you think you have the right to be ignored?
You don't get it, do you.

Nobody is bothering to challenge what you wrote, but you are being asked a question - many times.

Your cognitive dissonance appears to be that you think your utterances answer the question. They don't.
You haven't addressed the question.
If you think you have, you're wrong - rather plainly.
Nobody swallows that political ideology holds a country's economy together. That definitely looks like a rather pathetic suggestion.

Maybe you don't have enough of a clue what you're talking about and are just enjoying the deflections;
or you do, and you're just a troll - the type which infests forums like this.
Since you 're now on to inventing accusations about others' beliefs, it's looking like the latter.

Is that right, you're just here to self-pleasure behind a curtain of anonymity?