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

20goto10 · 10-12-2008 01:56PM

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 · 10-12-2008 01:59PM

20goto10 wrote: »

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

Tipp-ex?

oeb · 10-12-2008 01:59PM

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 · 10-12-2008 02:14PM

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 · 10-12-2008 02:15PM

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 · 10-12-2008 04:36PM

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 · 10-12-2008 04:49PM

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 · 10-12-2008 04:55PM

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 · 10-12-2008 05:08PM

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 · 10-12-2008 05:14PM

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.

10-12-2008 07:58PM

random chatbox wrote: »

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

too many butterfingers, i tell ye

havana · 10-12-2008 08:10PM

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 · 10-12-2008 08:20PM

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 · 10-12-2008 08:25PM

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 · 10-12-2008 08:28PM

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 · 10-12-2008 08:32PM

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 · 10-12-2008 08:38PM

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 · 10-12-2008 08:38PM

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 · 10-12-2008 08:45PM

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

Placid_Casual · 10-12-2008 09:10PM

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.

af_thefragile · 10-12-2008 10:03PM

INFLATION.

yup, thats the answer to your question.

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

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