A simple question about debt.

antrobus

warwicktiger wrote: »

If large numbers of the population and most governments are in debt, whose got all the money?

China.

Or anyone with a lot of oil, gas, etc.

ERICS_MUM

Large corporates such as British Airways, Sainsbury's etc will have millions in their bank accounts plus less liquid money tied up in term depos, foreign exchange etc

tomterm8

Due to qualitative easing quite a lot of the government debt is owed to the government.

Around half of it, to be inexact.

CLAPTON

TruckerT wrote: »

Most of the money is held by the banks.

There is no particular logic in the idea that putting your money into a bank should be any less risky than buying gold, stocks and shares, or property etc etc.

The depositors of the Cyprus banks apparently were about to lose lots of their money, but it is a bit odd that we have heard nothing at all about it since the actual event.

The UK deficit could probably be cleared overnight by taking the money from the banks which caused the problem in the first place.

TruckerT

of course we can solve all our financial problems by taking money from the banks.

The only problem is (just like Cyprus) some poor sucker like you and me actually owns most of that money already (current a/cs, ISAs, savings you know the sort of thing)

TruckerT

CLAPTON wrote: »

of course we can solve all our financial problems by taking money from the banks.

The only problem is (just like Cyprus) some poor sucker like you and me actually owns most of that money already (current a/cs, ISAs, savings you know the sort of thing)

It is the likes of 'you and me' who are paying the price, whilst the uber-rich (which includes many bankers) pay nothing and get tax reductions.

TruckerT

Thrugelmir

ERICS_MUM wrote: »

Large corporates such as British Airways, Sainsbury's etc will have millions in their bank accounts plus less liquid money tied up in term depos, foreign exchange etc

I would be surprised if they did. Shareholders would be in open revolt.

CLAPTON

these are about a year old but

cash in the bank
-BP 15.8 bm
-Shell 8.8 bm
-Astra Zeneca 8.1bm
-Vodaphone 6.9bm
-Rio Tinto 6.7bm
-BHP Billiton 6.4bm
-Glaxo 6.3bm

etc etc

Tesco was 14th in the list with only 2bm

TruckerT

CLAPTON wrote: »

these are about a year old but

cash in the bank
-BP 15.8 bm
-Shell 8.8 bm
-Astra Zeneca 8.1bm
-Vodaphone 6.9bm
-Rio Tinto 6.7bm
-BHP Billiton 6.4bm
-Glaxo 6.3bm

etc etc

Tesco was 14th in the list with only 2bm

Like I said, we could probably clear the UK deficit overnight (without any effect on the savings of you and me).

TruckerT

Thrugelmir

CLAPTON wrote: »

these are about a year old but

cash in the bank
-BP 15.8 bm
-Shell 8.8 bm
-Astra Zeneca 8.1bm
-Vodaphone 6.9bm
-Rio Tinto 6.7bm
-BHP Billiton 6.4bm
-Glaxo 6.3bm

etc etc

Tesco was 14th in the list with only 2bm

One sided balance sheet accounting.

CLAPTON

TruckerT wrote: »

Like I said, we could probably clear the UK deficit overnight (without any effect on the savings of you and me).

TruckerT

facts don't really figure in your opinions do they.