So why can't we just print more money to solve this recession?

Shurwhynot

We dont have to tell anyone!

seamus

Afaik, we no longer print money in this country.

Naos

You've single-handedly solved our economic crisis.

Well done you.

stovelid

http://e.imagehost.org/0075/goldstar.jpg

Roadend

seamus wrote: »

Afaik, we no longer print money in this country.

We can photocopy it so, does anyone have a colour printer handy?

Danbo!

Ink cartridges are too expensive

skelliser

cause the value of money would decrease
economics 101- the value of money: http://economics.about.com/cs/money/a/print_money.htm

Pighead

No can do. The paper they use to print money with isn't safe. Tests showed that the paper was contaminated by a dioxin at levels between 80 and 200 times the safe limits.

Any money you have in your pocket that you've gotten hold of since September isn't safe. Sent it immediately to: Pighead, PO Box 64, Swindle St Dublin 9.

oeb

Shurwhynot wrote: »

We dont have to tell anyone!

What's good for Zimbabwe is good for us. (Except no bad aids please)

cHaTbOx

Ok imagine you have a cake . There is not more than the cake and no less than it.
Now imagine that for every slice of cake you give out there is a ticket which represents that piece.Lets say you hand out 12 tickets initially.
Not if you print another 12 you will have 24 slices from the same cake.
It has halved in value.
If we printed less it would be worth more.

It happened in Germany in 1922 and the currency dropped 3.7 million times

m5ex9oqjawdg2i

seamus wrote: »

Afaik, we no longer print money in this country.

Oh? What do they do in the mint in sandyford then? Yes we do print money in this country but it may not be the Euro. I will find out for you if I can

Shurwhynot wrote: »

We dont have to tell anyone!

Silly silly idea, taka a look at the russian currency crisis. You will further weaken the Euro and it will not be worth a poo.

What should be done is raise taxes, reduce the interest on loans etc and savings and stimulate spending. People need to spend money in order to create a decent market. What is happening is people are afraid to spend money and it is further damaging the economy.

Think of it this way. They economy needs an injection of money to stimulate growth, now printing more money will in fact increase inflation and decrease the currency's worth. So we need the people of Ireland to inject money into the economy, yet people are afraid to spend money as it is harder to come by now and jobs are somewhat unsecure. Therefore the government are seeking loans from the EU. Thing is, we can not get any more money as we are at our treshold...

skelliser

random chatbox wrote: »

Ok imagine you have a cake . There is not more than the cake and no less than it.
Now imagine that for every slice of cake you give out there is a ticket which represents that piece.Lets say you hand out 12 tickets initially.
Not if you print another 12 you will have 24 slices from the same cake.
It has halved in value.
If we printed less it would be worth more.

It happened in Germany in 1922 and the currency dropped 3.7 million times

yahoo much?

ArmaniJeanss

We do print Euros here - however as part of our membership of the Euro we are strictly limited to how many we can print each year.

Whether we could get away with printing an extra couple of billion or not I don't know. I daresay if it was possible to cheat the system that the Italians would have done it already.

Tar.Aldarion

Introducing more money into a country is a good way to **** it over, but nice idea.

lottodrink

oeb wrote: »

What's good for Zimbabwe is good for us. (Except no bad aids please)

Theres good aids?? lol

m5ex9oqjawdg2i

lottodrink wrote: »

Theres good aids?? lol

Yea, the AIDS that kills off all the criminals and junkies...

lottodrink

Shurwhynot wrote: »

We dont have to tell anyone!

Are we not supposed to be printing our own money?? Damn my bad!!

oeb

lottodrink wrote: »

Theres good aids?? lol

Hai, welcome to the internet!

lottodrink

Juliette Small Twilight wrote: »

Yea, the AIDS that kills off all the criminals and junkies...

Ah I see, I prefer guns or a tree and some rope:p

smurph11

seamus wrote: »

Afaik, we no longer print money in this country.

Oh yes we do. We just share (oops)the job with all the other countries.

lottodrink

oeb wrote: »

Hai, welcome to the internet!

I take it not everything has to make sense so?? lol

topper75

Great thread. Couldn't help but be reminded of:

http://www.youtube.com/watch?v=KJh0pDMnL8M

INFLAYTION!!!

oeb

lottodrink wrote: »

I take it not everything has to make sense so?? lol

That's not really true. The internet is always reliable. Wikipedia told me that.

ronnie3585

lottodrink wrote: »

Theres good aids?? lol

https://www.youtube.com/watch?v=kFNs2mOkKzc

http://www.youtube.com/watch?v=kFNs2mOkKzc

lottodrink

oeb wrote: »

That's not really true. The internet is always reliable. Wikipedia told me that.

I think I'd trust Brian Cowen before I would Wiki;) I joined this boards.ie to join a football thread but iv to wait a month, how gay is that?

hullaballoo

lottodrink wrote: »

I think I'd trust Brian Cowen before I would Wiki;) I joined this boards.ie to join a football thread but iv to wait a month, how gay is that?

Not as gay as pink smilies! lololllollol

lottodrink

hullaballú wrote: »

Not as gay as pink smilies! lololllollol

Ah sh*t I shoulda thought about that b4 I put the smiley in haha...

AckwelFoley

Shurwhynot wrote: »

We dont have to tell anyone!

money is like a cheque.

you cant just write a cheque if you dont have the funds for it.

phenomenon

Ah Mr Mugabe, we've been expecting you.

mickdw

of course if you print more, it becomes diluted and wages etc will just raise to the higher level so infact you stand still in terms of richness but the currency as a whole becomes devalued. This was especially true when we had our own self contained currency.
However if the government were to break every rule and actually print some extra, given the fact that it is a europe wide currency, the currency would be devalued to leave the overall european wide value unchanged however, We here in ireland would have a bigger slice of the euro cake than we should have so there would be a gain. This is not allowed obviously. We would be regarded as the counterfieters of the EU

Davo D

I think the OP is on to something here. We don't have to tell anyone, just stuff briefcases full of 500 euro notes and Biffo can hand it to the the EU the next time he's over to pay off our debts. When they ask where we got it from, we just say that we won it on a horse.

While they're at it, they can print a few thousand off for each man, woman and child on the island.

...why didn't we think of this earlier!

20goto10

Davo D wrote: »

I think the OP is on to something here. We don't have to tell anyone, just stuff briefcases full of 500 euro notes and Biffo can hand it to the the EU the next time he's over to pay off our debts. When they ask where we got it from, we just say that we won it on a horse.

While they're at it, they can print a few thousand off for each man, woman and child on the island.

...why didn't we think of this earlier!

They'll all have the harp on it....kind of a give away.

Davo D

20goto10 wrote: »

They'll all have the harp on it....kind of a give away.

Tipp-ex?

oeb

20goto10 wrote: »

They'll all have the harp on it....kind of a give away.

Well, he can just say "I won it in Ireland". This might actually be getting somewhere. They are hardly gonna go. "Right, that's it, all you Irish lads, empty your pockets, lets see how much money you have."

Earthhorse

random chatbox wrote: »

Ok imagine you have a cake . There is not more than the cake and no less than it.
Now imagine that for every slice of cake you give out there is a ticket which represents that piece.Lets say you hand out 12 tickets initially.
Not if you print another 12 you will have 24 slices from the same cake.
It has halved in value.
If we printed less it would be worth more.

Okay. How about we just bake another cake?

Ever think of that, Matlock?

twanda

Tar.Aldarion wrote: »

Introducing more money into a country is a good way to **** it over, but nice idea.

+1

Someone mentioned Zimbabwe earlier. I saw some pics of Zimbabwe bank notes online - not sure if they were fake or not, but they were for crazy amounts



[EDIT] Found the link --
http://www.ebaumsworld.com/pictures/view/1033208/

slipss

twanda wrote: »

+1

Someone mentioned Zimbabwe earlier. I saw some pics of Zimbabwe bank notes online - not sure if they were fake or not, but they were for crazy amounts



[EDIT] Found the link --
http://www.ebaumsworld.com/pictures/view/1033208/

Definatly not fake, they recently published the z$1000000 note, only problem is now no one can spend the things because no one has change to hand out.


I reckon we just do a Milton-Keynes on it and bury big bags of cash all over the country and then let private enterprise, launch exploration and mining operations to recover them. Bang! Instant billion dollar mining industry hiring people straight off the dole ques.

Hellm0

What I've always wondered is why other countries don't just print other countries money, if we printed a few billion dollars here and some euro there and a few million yen maybe I'd say we could buy our way out of this.

Diggabot

lottodrink wrote: »

Theres good aids?? lol

Yeah, the type you get from a blood transfusion or the type you get from when a victims blood gets into your system after they've been shot during a botched bank job. Bad aids on the other hand.... well thats for gays and junkies!

topper75

Hellm0 wrote: »

What I've always wondered is why other countries don't just print other countries money,

They do! he he

Check out http://en.wikipedia.org/wiki/Superdollar

Interesting Irish link too - through Garland.

Hellm0

topper75 wrote: »

They do! he he

Check out http://en.wikipedia.org/wiki/Superdollar

Interesting Irish link too - through Garland.

Nice! Wiki says there was possibly some CIA involvement...isn't one of their official remits the investigation and prevention of counterfeiting?

Well on the other hand I suppose it's better than them dealing heroin and cocaine.

random chatbox

random chatbox wrote: »

It happened in Germany in 1922 and the currency dropped 3.7 million times

too many butterfingers, i tell ye

havana

This thread reminds me of when i was a kid and they'd be talking about bed shortages in hospitals. I just couldn't understand why they didn't just go out and buy more beds!

Économiste Monétaire

Technically, we could. Except instead of printing money, we could mint it--coins. See, the government cannot direct the CBFSAI to print more paper Euros at the currency centre in Sandyford. That responsibility falls to the CBFSAI under its obligations to the ESCB to maintain price stability. The quantity of money in circulation is given an objective band by the Governing Council of the ECB, and scrutinised by the monetary analysis departments at the ECB and national central banks.

However, the responsibility for the minting of Euro coins falls to the governments of each state (we just ignore the Gov. Council guidelines). Of course, you would have to mint quite a few coins to pay of the debt due to the price of minting coins, then deal with the effects of monetary inflation and, by extension, price inflation--and possibly chucked out of the economic and monetary union :pac:

Another interesting Euro factoid: There are nearly twice the number of 500 Euro notes in circulation than there are 200 Euro notes.

eirebhoy

slipss wrote: »

Definatly not fake, they recently published the z$1000000 note, only problem is now no one can spend the things because no one has change to hand out.

I wouldn't mind but that's only worth €6.50.

4zn76tysfajdxp

random chatbox wrote: »

Ok imagine you have a cake . There is not more than the cake and no less than it.
Now imagine that for every slice of cake you give out there is a ticket which represents that piece.Lets say you hand out 12 tickets initially.
Not if you print another 12 you will have 24 slices from the same cake.
It has halved in value.
If we printed less it would be worth more.

It happened in Germany in 1922 and the currency dropped 3.7 million times

Why didn't they just bake another cake?

Agent Smith

Pighead wrote: »

No can do. The paper they use to print money with isn't safe. Tests showed that the paper was contaminated by a dioxin at levels between 80 and 200 times the safe limits.

Any money you have in your pocket that you've gotten hold of since September isn't safe. Sent it immediately to: Pighead, PO Box 64, Swindle St Dublin 9.

Bloody northsiders! everyone knows the real dioxin Testers are on the southside

Hellm0

Agent Smith wrote: »

Bloody northsiders! everyone knows the real dioxin Testers are on the southside

Must be why it took so long.

I take this as a sign; it's south Dublin's fault we have no pork! DEATH TO THE SOUTHIES!!

Shmuck

mickdw wrote: »

of course if you print more, it becomes diluted and wages etc will just raise to the higher level so infact you stand still in terms of richness but the currency as a whole becomes devalued. This was especially true when we had our own self contained currency.
However if the government were to break every rule and actually print some extra, given the fact that it is a europe wide currency, the currency would be devalued to leave the overall european wide value unchanged however, We here in ireland would have a bigger slice of the euro cake than we should have so there would be a gain. This is not allowed obviously. We would be regarded as the counterfieters of the EU

I could live with that. So long as Cowen gives me a briefcase full of 50 euro notes, having a tarnished reputation wouldn't bother me that much .

A devaluation of the currency wouldn't be such a bad thing, considering the amount of business that Ireland is losing and will continue to lose to the UK due to the current fall in the value of sterling.

Since the government is seeking loans from the EU, we could just look at printing more money as a way of obtaining a loan without having to go to the bother of filling out the forms :pac:.

galwayrush

Feck, my scanner and printer just aren't good enough:(

Placid_Casual

I was in South Africa in October and met somebody who had just been to Zimbabwe. He'd kept this as a souvenier. Apparently not even enough to buy a coke.