Sterling to get abused even more?

IzzyFreedman

QE 8,9 and 10 not working so try QE shock and ore.

Y150 Trillion, soon it will be QUADRILLION units of currency created out of thin air by typing it into central bank accounts and expanding the currency supply of the world.

IzzyFreedman

https://www.youtube.com/watch?v=aDB9wwUgrmw

Published on 5 Apr 2013
Japan's central bank has promised to unleash a massive program of quantitative easing -- worth $1.4tn (£923bn) that will double the country's money supply -- in a drastic bid to restore the economy to health and banish the deflation that has dogged the country for more than a decade.

Click Here To Read More: http://moneybagsworld.blogspot.com/20...

http://www.guardian.co.uk/business/2013/apr/04/japan-quantitative-easing-70bn

dryhat

andy.m wrote: »

Dryhat will you sell me 1 coin at £100 please?
A small profit for yourself and I cannot really be bothered with the MTGox etc
I'm happy to hold a wallet and would like a coin for a bit of fun and a possible speculative profit to pay for a night out or the like.

Sorry mate, but I'm keeping hold of the 5 I have for speculative purposes.

They effectively cost me nothing so if they fall to zero I haven't really lost anything.

I agree Mt.Gox is a bit of a pain though. So why not use someone on this site ...

https://localbitcoins.com/postal_code/GB/portsmouth/

Find someone close to you with good feedback, email them and arrange to meet in a pub or similar, take along your laptop/phone containing your wallet and £100 and do the deal in cash.

It will work out cheaper and is a great way to meet other bitcoiners and ask questions.

This is how I sold my last batch.

andy.m_2

why are casacius coins worth so much more than the BTC value they hold?

John_Pierpoint

purch wrote: »

What are these currencies "racing to the bottom" of by the way.

I always thought currency value was relative. Maybe it's all changed.

Yes relative to what it will buy - which is being forced down.

Generali wrote: »

You can't fight demographics with monetary or fiscal policy as my old mum used to say.

Europe is going to discover that before too long. The UK would be wise to keep the doors open until someone finds a way around it. Japan has almost no immigration, billions of old people and the young people that are there aren't having kids which will make the problem even worse in years to come. Even then the UK has a pretty funky looking ageing population curve ahead of it.

In a country with an impressive population density, which would only be able to feed itself on a vegetarian diet, that has been adding extra millions to its population and currently is quoted as having a birth rate of 2000 a day versus a death rate of 1500, I would think the last thing that is needed is an increase in mouths to feed, bodies to house and brains (?) to educate.
It would probably make more sense to tax bedrooms and offer subsidies to old people prepared to retire to some unproductive part of the world.
For the USA this is usually quoted as Equator or Peru, can I suggest Cyprus? There should be lots of people prepared to take a care home job over there soon. Zimbabwe might be another possibility. Both of those have the benefit of speaking English.

All the facts and figures about the housing stock are in here [It seems I have 5 spare rooms, "taxable" at £35 a week, and I am writing to you all from one of them]

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/88370/EHS_Headline_Report_2011-2012.pdf

I think it is only China and India that has billions of people of any age. though UK pensioners do seem to have acquired an entitlement attitude, which does not bode well to their realising that they will have to think about pulling their weight again.

IzzyFreedman

andy.m wrote: »

why are casacius coins worth so much more than the BTC value they hold?

I still have not got my head round it. I mean these casacius coins are only really worth their metal content and the paper inside they are made of very low value metal and the paper is worth no more than the intrinsic value of any paper currency.

IzzyFreedman

Generali wrote: »

You can't fight demographics with monetary or fiscal policy as my old mum used to say.

Europe is going to discover that before too long. The UK would be wise to keep the doors open until someone finds a way around it. Japan has almost no immigration, billions of old people and the young people that are there aren't having kids which will make the problem even worse in years to come. Even then the UK has a pretty funky looking aging population curve ahead of it.

Most experts agree that there is a wealth transfer going on at the moment from West to East. The East are buying gold and silver and real things as much as possible but in a stealthy way so as not to push the price up too quickly before they have got out of as much paper as possible.

Especially every time the manipulators push the price down there is massive buying of both gold and silver from India, Japan and especially China. India has the largest stockpile of gold and silver when you include not only what the central bank is buying but also what is being bought by the public. We have many friends in London from that part of the world and their families consider gold and silver bullion to be money far more than the population in the West. Indian governments tried increasing taxes on buying gold bullion to dissuade people buying gold bullion, but it has just encouraged a black or free market in bullion because bullion is the most private investment you can make. Also some have started to buy more silver bullion instead of gold. This has put a floor under the gold and silver prices they can not fall very far because there is just not that much real bullion available compared with the population of the planet wanting to buy it. If the price is pushed down even a little then physical demand pushes the free market prices of physical much higher than paper promises of bullion.

Understanding this wealth transfer and what it means for the future is of great importance. China has a much larger population problem than Japan because they have had a one child policy for a while now, while Japan has a higher birth rate. The demographics are not looking good for China's future. As the next generation grow to working age they will have to work twice as hard to pay for twice the number of old people who will be living longer and longer as medical advances can now be affordable to them.

In the absence of immigration, there is only one way for a nation to address its need for young people, and that is to give birth to more babies. So the 1 child policy is not so good for the future of China. I suppose there is a 2nd way. The demographic re-purposing of Jonathan Swifts 'A Modest Proposal', (google this) he says you could sell the old people as food to the young people and animals. You would then get a higher proportion of young people to old people and solve the food shortages. But no one in China is suggesting this as plan B. There are now more pets in China than there are children, and yes they do regularly eat cats and dogs in China. The country is on its way to becoming nothing more than a huge old peoples home. With lots of old people and not many young people to support them. Estimations are in a few decades at this birth rate(if the 1 child policy continues), around three quarters of the population will be over 60 and living longer than before. They will soon all be in the cart expected to be pulled by a quarter of the population working hard to pay taxes and pull the cart, knowing full well that by the time this younger generation gets to retirement age there will be no money to pay for them.

Plus they have far more males than females in China. This has been mainly due to the fact that if you can only have one child then if the scan revealed the baby to be a girl many times it was aborted until the next pregnancy was a boy. You would think it would be so obvious the problems this will store up for the future. The next generations are going to have lots of unmarried men and less couples. The few females who do marry are still only allowed to have one child and still preference towards boys. So the demographic problems for China are getting worse and worse for the future. This is why it will soon be nothing more than a big old people's home mostly made of old men.

John_Pierpoint

I think you will find that the Chinese situation is nothing like as serious as you think:

Never mind a migration per year of unproductive folks from country to town greater than the massive flow of unproductive migrants into USA per century; there are still reserves of spare people largely uncounted and untaxed in the countryside. These people they call "farmers".

The one child policy running since 1978, is full of holes. In the countryside "farmers" are allowed to ignore it and in the towns the new rich pay the fine as a sort of extra tax.

The newly wealthy Chinese should not have too much trouble obtaining a spouse, though those in towns find raising the single child something of a challenge in small accommodation.

The Chines after being through hell [wars, famines, arbitrary breakup of families] and back in the last 3 generations, have powerful motivation to work save and succeed.

The potential fly in the ointment, is the upbringing of "the little emperor".
Will these single males display the same "grit" as their parents.

This covers the situation pretty well, but skates over the availability of fertility drugs to create multiple births.

http://en.wikipedia.org/wiki/One-child_policy

andy.m_2

IzzyFreedman wrote: »

I still have not got my head round it. I mean these casacius coins are only really worth their metal content and the paper inside they are made of very low value metal and the paper is worth no more than the intrinsic value of any paper currency.

I can only think that should the entire BTC record be destroyed/lost/hacked that physical coins are tangible and hence still valid.
As well as a touch of collect ability?

dryhat

andy.m wrote: »

I can only think that should the entire BTC record be destroyed/lost/hacked that physical coins are tangible and hence still valid.
As well as a touch of collect ability?

Collectability is all it is really.

IF the system is hacked/compromised then the physical coins will also be affected.

This is because the "address" and "private key" that they contain is already part of the blockchain. This has to be the case to prevent double spending of the same bitcoins.