Could the BoE ever go bankrupt?

moneywolf

fimonkey wrote: »

So the acceptance of Hitler adn fascism was directly related to Germany going bankrupt in the 20's? So it took near on 10-15 years for Germany to get out of it by attempting world domination? ... How does a country with no money attempt world domination?

If the UK went bankrupt, could another country buy us out?

Yes it took that long for germany to recover thats why the people flocked to hilters twisted ideals,

the only country that could bail us out is the U.S.A

or Bill gates on his own LOL.

We are in a bit of a pickle as our country is now just based on servicing cash & very little else.

Thats why we are in so deep

Masomnia

fimonkey wrote: »

So the acceptance of Hitler adn fascism was directly related to Germany going bankrupt in the 20's?

He blamed the Jews and communists amongst others for all the economic problems at the time, proved to be a good vote winner for him. Other factors as well, like anger at the treaty of Versailles, which ended the First World War, and was a pretty rough deal for Germany. Hitler promised to resolve all these things so people voted him in.

He rebuilt the country's industry, lowered employment, that kind of thing, and was then able to re-arm the country and begin invading others.

In a nutshell.

nachovx

We should blame Iceland and send the B52s in to bomb Reykjavik

TehJumpingJawa

nachovx wrote: »

We should blame Iceland and send the B52s in to bomb Reykjavik

Not a bad idea.... ~300k icesave savers, ~300k icelanders seems like a fair fight to me :rolleyes:

We're coming for our moooneh!

moneywolf

If things do not stop the just watch MAD MAX to see what may happen it the future.

The russians want to become friendly with iceland so that they can gwet a military prescence there. or park some missiles.

Thats what will happen , just wiat to see

nicholbb

Masomnia wrote: »

He blamed the Jews and communists amongst others for all the economic problems at the time, proved to be a good vote winner for him. Other factors as well, like anger at the treaty of Versailles, which ended the First World War, and was a pretty rough deal for Germany. Hitler promised to resolve all these things so people voted him in.

He rebuilt the country's industry, lowered employment, that kind of thing, and was then able to re-arm the country and begin invading others.

In a nutshell.

Hate and blame are always vote winners when times are bad. Telling people it's not their fault but [insert person or group] will always earn support.

It's one of the reasons that you hear politicians of all parties condemning the BMP, they are scared that we didn't learn Germany’s lesson and could fall into the same trap.

amcluesent

So the basics are that after WWI, the French forced Germany to sign the Treaty of Versailles which obliged Germany to pay reparations for the damage caused. This meant that no matter what Germany did after 1919 they could never escape the crushing repayments and there was political extremism. The Great Depression from 1929 in the USA meant that investment in Germany was dumped as Americans needed the cash.

The economy was crocked and there was runaway inflation; one of the extremist parties getting some support was the National Socialists and their leader, Herr Hitler, was invited to be Chancellor in 1933. Hitler then ensured the Reichstag was set on fire and used this as a pretext to suspend democratic processes and declare a state of emergency with the Enabling Acts; Hitler never won an election.

He then embarked on a huge amount of spending on public works (i.e. the autobahns) to get people back into work and rebuild the German armed forces. Essentially, he was running an out of control boom which couldn't be sustained, so he grabbed back the coal mines in the Sudetenland and walked into Austria. To continue the imperial expansion he then had to rely on the military and invaded Poland in 1939 etc. etc.

nicholbb

nachovx wrote: »

We should blame Iceland and send the B52s in to bomb Reykjavik

see told you so

edit: this would have been slightly funnier if I typed quicker and my original post was above this, but it wasn't so it's just not funny.

somabc

fimonkey wrote: »

Thanks for th ereplies,.. I don't uderstand the Zimbabwe issue very well, in that if a loaf of bread is worth 30p today but £3 tomorrow, how on earth do ppl function everyday with salaries, incomings and outgoings? Surely there comes a point when nobody can afford anything (or do wages rise with inflation so it all cancels each other out)?

I don't think you understand, there are no jobs in zimbabwe, no salaries, nothing, the only way you will have any money is if you are in the elite. The only way to survive is to try to get foreign currency on the black market. If you were against the elite then they would have either killed you or you would have fled the country. Having money to buy things would be the least of your worries.

http://www.economist.com/world/mideast-africa/displaystory.cfm?story_id=11751346

somabc

moneywolf wrote: »

If things do not stop the just watch MAD MAX to see what may happen it the future.

The russians want to become friendly with iceland so that they can gwet a military prescence there. or park some missiles.

Thats what will happen , just wiat to see

It was interesting to see the Icelandic PM give a speech saying - when we are in difficulty we expect our friends (EU & USA) to help us out. If they will not then we simply make new friends.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3153061/Financial-crisis-Iceland-PM-warns-its-every-country-for-itself.html

Mr Haarde confirmed that he was sending a delegation to Iceland's "new friend" Russia to negotiate a £3bn capital injection into the country's finances, after the country's traditional Western allies refused to help the collapsing banking system

.

http://uk.youtube.com/watch?v=g_DaMKUP3Og