Bank of England.

nitrocat

The Bank of England.
A company so certainly eligible to be ranted about.

The Bank of England Governor Mervyn King and his fellow Monetary Policy Committee rate setters must be either asleep at the wheel or got their snouts too deep in the money trough and oblivious to the financial woe they are causing and going to cause the people of this country.

House prices increases above wage increases are great for the rich but I fail to see how most people’s kids are going to be able to buy somewhere to live when they are grown up.

I also fail to see why the phoney CPI inflation target of 2% is ignored by a massive 50%. I say wake up MR King Its now 3% which is 50% over your target. You are so close to breaching the 3%. Get you pen ready, but big deal you will have to write a letter. You must laugh all the way to the bank. FYI Inflation is really at 14% but then you already know that don’t you ;o)

And while we are on the subject of CPI the ONS are complicit in this farce. Why do you insist on trying to understate inflation? Is it because you have your snouts in the money trough too?

The British Royal Mint.

I am not sure I want these on my rant list as it has “Royal” in the name but they have gone too far. As they quote them selves “operationally very similar to a government-owned company”.
The Royal Mint who produce copper pennies that are made of steel and pass them off as if they were made of real copper to everyone. Copper plated pennies whatever next? Brass coloured gold coins perhaps? Are you scared to reveal the true colour and worth of your coins? How about Plastic coins? Or no coins and all money just bits and bytes in a computer. Oh I forgot we have that already.

Banks, Barclays, HSBC, etc, well the list is almost endless.

Banks - Who can create money out of thin air and charge the public for using it. Great, can I have the powers that you have please?
You don’t force us to borrow money. But you don’t come clean and explain how the system works for you and against the general public either do you? Happy for people to be in debt you are. Misers.

Labour party.

Not a company but a company of thieves perhaps?
And last but not least the dear old Labour party who were originally set up for workers, but are now in charge of the county whilst the divide between the rich and the poor get larger. Who would have thought it would happen under Labour?
What was it you said?
No more boom and bust.
Or was it - No more, Boom and bust,
No that must be it - No, more boom and bust.

All of the above companies are offering poor service in my opinion. Time to change them all.

Astaroth

Bank of england
What are you actually complaining about? You seem to say that they are crippling people by increasing interest to stem inflation but then say they are under estimating inflation which would mean interest rates should be much higher?

Royal Mint
Would you rather we were still linked to the Gold Standard so you could go swap your pennies for their equivalent value in gold? The idea that money is actually worth the metal used to make the coins is antiquated and becomes laughable when you get to situations that exist in other countries when you have coins worth 0.0001p

Banks
Dont make money out of thin air at all.... if you dont understand investment, borrowing, interest etc then keep your money under your matress

Labour
Have to say, cant stand the labour government at all so attack away but since when did the old saying about communism "some people are more equal than others" not apply?

tomstickland

I was distraught to find that my credit card was actually only worth 1p in plastic material costs.

nitrocat

Astaroth wrote:

Bank of england
What are you actually complaining about? You seem to say that they are crippling people by increasing interest to stem inflation but then say they are under estimating inflation which would mean interest rates should be much higher?

Royal Mint
Would you rather we were still linked to the Gold Standard so you could go swap your pennies for their equivalent value in gold? The idea that money is actually worth the metal used to make the coins is antiquated and becomes laughable when you get to situations that exist in other countries when you have coins worth 0.0001p

Banks
Dont make money out of thin air at all.... if you dont understand investment, borrowing, interest etc then keep your money under your matress

Labour
Have to say, cant stand the labour government at all so attack away but since when did the old saying about communism "some people are more equal than others" not apply?

I wasn't going to reply but as its a slow quiet day...

Actually they do create money out of thin air. There is a process for it (fractional reserve), some rules if you like, but out of thin air it is. Typing, "how do banks create money uk" in your favourite search engine will suffice to give you plenty or explanations.

Yes interest rates should be higher. I suspect they will be going higher.

And you are misguided on the use of commodities as money as well, the whole point of it is to limit what government and banks can steal from the people through dilution of the money. Fiat maybe fine if its not abused but for years now the bankers have been partying by getting as many as possible in debt. To disagree is to collude with the bankers. Are you associated with the banks or government perchance?