We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

QE a "monumental" mistake

24

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    TheBane wrote: »
    But every time the next generations forget, it has happened since ancient Egypt 5000 years ago.

    What happened in Egypt?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    TheBane wrote: »
    The world currency supplies are expanding and will continue to expand once again until they fail which is 100% certain,

    Perhaps they are no longer expanding.
  • antrobus
    antrobus Posts: 17,386 Forumite
    TheBane wrote: »
    ....The world currency supplies are expanding ....

    Not in the UK it ain't. M4 has been shrinking over the past few years. Despite all the QE.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    TheBane wrote: »
    The worlds supply of units of currency is expanding and will continue to, to the point where faith is lost and a return to gold and silver backed.

    Knew there was a reason.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    TheBane wrote: »

    Does anyone think this cycle will not continue?

    In the past devaluation was conducted by reducing the amount of valuable content in coins. So a gold coin contained less gold etc.
  • pwllbwdr
    pwllbwdr Posts: 443 Forumite
    Part of the Furniture Xmas Saver!
    Thrugelmir wrote: »
    Have you any comprehension as to what happened in Japan?

    What caused the financial crisis?

    Someone's legs dissolved.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    pwllbwdr wrote: »
    Someone's legs dissolved.

    More liklely to have been washed away.
  • purch
    purch Posts: 9,865 Forumite
    TheBane wrote: »

    His exact words on Sunday August 15th 1971 were "temporarily" and "urgently needed new international monetary system"

    How many times, under how many different user names are you going to demonstrate your lack of knowledge, and how little you understand ?.

    Nixon was not referring to a temporary removal of Gold from the system.

    This fixation you have with 40 years is quite pathetic.

    The words "temporarily" and "urgently needed new international monetary system" came to pass on December 18th 1971 when the Smithsonian Agreement came into being. As you like to quote President Nixon, his words were "greatest monetary agreement in the history of the world"

    http://mises.org/money/4s8.asp

    There are many good sources of information and knowledge on the Mises org website. You should try reading some of it.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • purch
    purch Posts: 9,865 Forumite
    .....and on a different note, the Smithsonian Agreement led directly to the original 6 members of the European Economic Community agreeing to keep their currencies within narrow 2 1/4% bands, the original "Basket" that led to the ERM and then the EUR.

    So the actual monetary system established by the agreement only lasted a little over 2 years, but it's influence can still be felt.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    edited 4 February 2013 at 12:54AM
    QE a "monumental" mistake

    IT might be good value if rates were 10% and long term rates well over that. I doubt we'd be allowed to do such things then as investors would object to the interference?

    I think we've built on Nixons actions ever since. Both his change to currency fix and therefore budget allowances ie. debt ceiling inactive but also his setup with China
    If they had not done both together I dont think we'd be here now. So which smart cookie told him to do that also
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture