Jim Corr, New World Order Plant?

TalkieWalkie wrote: »

Yah, and my point is that you cant know he believes every CT he see's. Perhaps he believes parts of some and others.
I think generally they all come down to one thing, a new world order conspiracy by the worlds elites. Weather this conspiracy is a naturally occurring thing due to greed or it is planned by the Bilderberg is a whole new matter and thread.

so you think that even though he says something is true, he mightn't actually
believe it? Fair enough but either way he's a tulip.

Mahatma coat wrote: »

so are we going to get to benefit from this Encyclopedic Economic knowledge of yours then FD, or are you just gonna make a lot of noise???

Make a lot of noise. Any attempt at a carefully constructed explanation would be wasted here, in my opinion.

Brown Bomber wrote: »

Why so?

Because I attempted to do so before. I have copied and pasted the relevant stuff here:

A question to begin with.

1) Inflation hurts people, can you think of anyone else that it hurts?

If it works exactly as you describe then the banks are only hurting themselves, for if they drive inflation ever-upwards then they would have to raise interest rates to ridiculous levels to make sure they earn any return on the money they handed out. According to the guy who made the movie, this is whats happening and yet we don't see it, interest rates are not at crazy levels, and inflation is not rampant. He says that $10bn becomes $90bn (or whatever) because of the way the system works. What he refers to is actually called the money multiplier, which is a simple mathematical model which houses a number of abstract assumptions which don't hold in reality (it is a useful description, nonetheless). So the money never reaches the levels that he describes (although it does expand), but this is yet another inconvenient fact that he excludes. If the US does work as he describes, why aren't we seeing >100% inflation(p.a.)/interest rates there? Surely this would be the outcome of such a never-ending spiral?

In addition, it is funny that he cites Abe Lincolns move to produce greenbacks as legal tender being produced by Treasury, which is something you CT'ers advocate. Does anyone know what the outcome of this move was? Because he excludes that little piece of info...

The ECB's charter is strictly based on keeping inflation below 2%. Good for banks, good for business and good for people (although not so good for growth...). For the record, I have problems the way The Fed works, as I have stated many times on the economics forum. What bothers me is that people watch this movie without checking up the assertions he makes. The guy who made this movie is either an idiot or a liar who correctly assumes that he can manipulate uncritical audiences into believing whatever lies he concocts, and I am betting on the latter. You dont need a degree in economics to tear this guys arguments to shreds, you just need an open, critical mind and the patience to read a book or two.

Mr.Zeitgeist does this:

Inflation hurts banks, business and people. Oops, that doesn't work for my already-reached conclusion. How about I do this...

Inflation hurts banks, business and people.

Ahhh, thats better...

Any nonsensical response to this will be disregarded.

Torakx wrote: »

Good reply.
Do you know if the issueing of money to a government comes with interest attached?
That was my main scruple that i was lead to believe every time the gov gets bonds to print money or however it works here too they had to pay back interest.

I believe that is the way things work in the US, yeah. Since the Central Bank here doesn't control the money supply, I don't think that's how it works. However, it is still the governments bank, so to speak. But every year the CB pays all surplus income back to the Exchequer. It's there in the annual report.

The idea of having a central bank that is independent of the government is a sound one. Governments just have a habit of printing money every time there is an election, you know?

yekahs wrote: »

Just popping to the shop for some bread.

either that or getting 'The Corrs greatest hits'...a four track cd

Flamed Diving wrote: »

The ECB print (and withdraw) all money for the Eurosystem. The rate that they charge banks for this injection depends on the interest rate they are targeting. So if they are attempting to get banks to charge 5% on mortgages, the ECB will let banks bid for X amount of money, hoping the volume offered is enough to reach X%, leaving the banks a little room to make their profit. The term that the ECB sets on these loans determines whether the volume of money is increasing or decreasing, over time. The interest rate they are targeting depends on the inflation rate they are targeting. This is always 2%, and it is the primary goal for the ECB's existence; to maintain low inflation.

With respect to your opening statement, can you give me an example of a country that had an independent central bank, who had a low inflation target, and wound up with inflation rates of 11,000%?

When governments print their own currency, they tend to use it to pay the bills while running deficits, instead of using tax intake, or issuing bonds. Furthermore, they can pull sneaky tricks using inflation, such as increasing the money supply before an election, to cause a mini-boom to sweep them back into office, only for the inflationary consequences to occur after. The second trick is to issue bonds in your own currency, spend the cash and then increase the money supply, thus reducing the value of the bonds. However, this has a long-term counter productive effect, as people will simply charge higher interest rates for your bonds, when you next seek a loan. If you continue pulling these tricks, it can become easy to get caught in an inflationary spiral, which is very difficult to get out of, and can destroy your economy.

The last place you want the keys to printing money, is in the hands of politicians.

So do you think when Lincon brought in the green backs it was a bad decision?

Truthrevolution wrote: »

So do you think when Lincon brought in the green backs it was a bad decision?

Well, the inevitable happened with the government just printing money to finance the war, which led to massive inflation. Same as always.