12yr old Victoria Grant on banks and debt

chucky

When a 12 year old girl starts preaching about Jesus, it's time to give up.

Maybe that's what appeals to some people.

Graham_Devon

chucky wrote: »

When a 12 year old girl starts preaching about Jesus, it's time to give up.

Maybe that's what appeals to some people.

The "preaching about jesus" was one line from the bible, which referenced what she was talking about. Took about 5 seconds of the 5 minute speech.

System

Graham_Devon wrote: »

Interesting that it's the bullish who have taken offence to a 12 year old girl speaking! Can't begin to think why!

I think they are taking offence at you.

chucky

Graham_Devon wrote: »

The "preaching about jesus" was one line from the bible, which referenced what she was talking about. Took about 5 seconds of the 5 minute speech.

Thanks for trying to justify it.

Graham_Devon

Joeskeppi wrote: »

I think they are taking offence at you.

Offence at me? Why?

chucky

HAMISH_MCTAVISH wrote: »

Are you now flip flopping again to say she's wrong?

Can someone find out his address in Devon please?

It would be good to send him some more straws to clutch on, or even a deeper barrell for him to scrape the bottom out of.

IronWolf

HAMISH_MCTAVISH wrote: »

Interesting.

Let's see what she calls for.....



Indeed.

Why bother borrowing from the markets when you can just borrow as much as you like from your central bank, at much lower interest rates.

Sounds familiar....

Given that it's also pretty much exactly what the BOE is doing via the back door with QE.

But not something you usually applaud.

And lets see what this would entail......



Although, as you would normally point out most insistently had you not been blinded by a 12 year old kid using words like "financial slavery", there could be a slight flaw with that plan....



Well well well.....

Graham is advocating governments borrowing from their central banks at below market rates, and risking "soaring inflation".

Who'd have thought it....:rotfl:

Honestly Graham, you've been flip flopping around like a fish out of water lately. It's quite remarkable to watch.

I actually think it's not a bad idea. But then I would....

Whereas it goes against the grain of absolutely everything you've ever argued on here.



Oh, it certainly is.

Because lots of people, particularly pension funds, need to invest in safe assets in order to provide annuities and plan for retirement. Years ago you had final salary pension schemes, but not anymore. If there were no government bonds then our pension system would need to change dramatically....again.

Having private buyers for government bonds also allows the central bank to control interest rates in the economy, which it can't do if all it does is loan money to the government. This is vital for monetary policy to be effective at controlling things like inflation and credit booms.

p.s. quantitive easing is not about buying government bonds, that is just normal monetary policy. QE buys other financial instruments, mainly ones that banks cant sell to anyone else as theyre junk, giving them increased liquidity.