The Accidental Smallholder Forum
Community => Coffee Lounge => Topic started by: sabrina on April 01, 2013, 10:23:56 pm
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Would someone please expain to my little brain, if this country is in such a mess and we owe so much money who the person is that we owe all this money too ????
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Would someone please expain to my little brain, if this country is in such a mess and we owe so much money who the person is that we owe all this money too ??? ?
bizarrely china!!!
through the world bank and other such institutions...
in 10 years they will own most of the western world!!!
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not quite david. china owns alot of debt.
thats different to who has the money. in the uk its the top 100. they rinsed around 20% of the countrys gdp in 1 yr.
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the question was who the government owes money too
the bulk of our sovereign debt held through various global banking institutions is held by china...
who has the money here is a whole other question ;D ;D ;D
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i suppose what i meant was china owns alot of iou's. collecting is an entirely different matter.
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China is going to have big problems next.........anyway, why carn't they just print some more money!! :innocent:
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Oh wouldn't it make life easier if they could? Maybe we could all be issued with our own money printing machine.
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I have often wondered this question - but I think the answer is something way beyond anything I understand. ???
Donna
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It's not money anyway, its just all figures on a spreadsheet....... Or a bank system....... Why don't we just type the figures back in?!!
;D
Beth
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I have often wondered this question - but I think the answer is something way beyond anything I understand. ???
Donna
As far as I can make out, the cash just represents the gold the country has so we can only have enough money to cover the value of the gold.
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Oh wouldn't it make life easier if they could? Maybe we could all be issued with our own money printing machine.
Im sure Ive got an old John Bull Printing Outfit somewhere in the garage!
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I have often wondered this question - but I think the answer is something way beyond anything I understand. ???
Donna
As far as I can make out, the cash just represents the gold the country has so we can only have enough money to cover the value of the gold.
fraid not the gold standard failed a long time ago... some pillock sold it for a pittance just before the price rocketed anyone care to guess who... (it was gordon brown so as not to confuse anyone)...
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Yup, Gordon is a moron. Even a song about it!
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As said before maily all to China, however I remember seeing a chart which showed each country to whom we owed monies which accounted for the £150bn debt however they also showed a chart of those countries that owed us mnies and the result was nearly a balance however the problem was that we seemed to lend on long term but our problems were funding short term. although we were not bankrupt as a nation it was all down to cash flow in that we were borrowing faster than we were being paid back.
The country that owed us the most was infact the USA, followed by Germany and France.
But what does it all mean, in real terms..THE RICH GET RICHER AND WE THE DOWN TRODDEN JUST GET POORER.
We have to pay more to feed the rich and get less for our efforts.