Thread: Quantitative Easing

Last week the Bank of England decided that lowering interest rates to 0.5%, the lowest in the whole of history, isn't quite good enough to boost our economy. They've now turned to 'quantitative easing'. Quantitative easing is a euphemism for 'printing money', and is used solely for the purpose of intimidating stupid people into thinking it is something different and complicated. It isn't.

I've spent the whole week in a state of amazement watching senior politicians and public speakers unanimously blab on about how this will work brilliantly and how creating money and giving it to banks is going to give people more spending power.

What the fuck. Money represents goods. Anybody who tells you that creating goods out of thin air is going to help anything is lying. Why is everybody buying this shit? It's just common sense for God's sake.

Anybody with any knowledge of politics or history knows exactly where this is going. The government is going to hyper inflate the economy and make money worthless. Problem fixed. The nation's savings have just been entirely erased and your debts are gone. Then you say 'oops' and start crying about 'global factors' or some other scapegoat. And after this week, I wouldn't be so surprised if the public just lay down and eat that one up too.

As soon as I turn 18 I'm pretty sure I'm going to put most of my savings into physical assets like gold and oil. Perhaps even buy some... I wouldn't be too surprised if in a year or so the government drops all pretence and starts seizing shares again.

Nobody else having similar thoughts?

Originally Posted by Xei

Last week the Bank of England decided that lowering interest rates to 0.5%, the lowest in the whole of history, isn't quite good enough to boost our economy. They've now turned to 'quantitative easing'. Quantitative easing is a euphemism for 'printing money', and is used solely for the purpose of intimidating stupid people into thinking it is something different and complicated. It isn't.

I've spent the whole week in a state of amazement watching senior politicians and public speakers unanimously blab on about how this will work brilliantly and how creating money and giving it to banks is going to give people more spending power.

What the fuck. Money represents goods. Anybody who tells you that creating goods out of thin air is going to help anything is lying. Why is everybody buying this shit? It's just common sense for God's sake.

Anybody with any knowledge of politics or history knows exactly where this is going. The government is going to hyper inflate the economy and make money worthless. Problem fixed. The nation's savings have just been entirely erased and your debts are gone. Then you say 'oops' and start crying about 'global factors' or some other scapegoat. And after this week, I wouldn't be so surprised if the public just lay down and eat that one up too.

As soon as I turn 18 I'm pretty sure I'm going to put most of my savings into physical assets like gold and oil. Perhaps even buy some... I wouldn't be too surprised if in a year or so the government drops all pretence and starts seizing shares again.

Nobody else having similar thoughts?

Investing in assets is a great way to set one self up in trying times as these. Be it bouillon's, coins, or nuggets (I'm more fond of passive income generating assets though)...all great. The purer gold is more malleable though. My advice? Buy into precious metals asap because the prices are shooting through the roof.

I found this humerous.

Originally Posted by Jeff777

Investing in assets is a great way to set one self up in trying times as these. Be it bouillon's, coins, or nuggets (I'm more fond of passive income generating assets though)...all great. The purer gold is more malleable though. My advice? Buy into precious metals asap because the prices are shooting through the roof.

Nah, learn how to hunt wild turkey and moose and bears. Then you can sell the meat and fur which is used for survival and therefore more precious than precious metal.