House Prices

[Mr Kobayashi]

It doesn't make sense. The theory says they actually create it by getting more highly geared, therefore getting in debt, which then suggests it isn't actually created. So my shallow understanding is they would owe it to institutional investors and the like, investing pensions etc, to other bond holders and each other in effect. I wasn't convinced with the thin air concept.

It’s not thin air. When they give you a loan as a deposit in your bank account they also create an obligation to pay them back. When you pay back the capital amount you destroy money.

How is money created?

Most of the money in the economy is created by banks when they provide loans.

www.bankofengland.co.uk

 

[Bill Walker]

Pretty much everything in Aus is expensive. I hope you don’t like to drink too much beer when out socialising. Bought a round of pints for 6 people in Sydney 2 weeks ago. Just shy of £65.

Not really.

Petrol about half UK price
Park for free everywhere except City center.
Council rates about half UK
No heating bills
Less clothes reqd.
Oz Wine $3 a bottle
No MOTs
Food and beer a bit dearer maybe but wages are higher.
I pay 4 quid a pint here on Gold coast. Angler's Arms.

 

[Corky]

It’s not thin air. When they give you a loan as a deposit in your bank account they also create an obligation to pay them back. When you pay back the capital amount you destroy money.

How is money created?

Most of the money in the economy is created by banks when they provide loans.

www.bankofengland.co.uk

That is not quite "an effective licence to print money" a the video leads us to believe. More like double entry and an IOU.

 

[The Light Was Yellow Sir]

It doesn't make sense. The theory says they actually create it by getting more highly geared, therefore getting in debt, which then suggests it isn't actually created. So my shallow understanding is they would owe it to institutional investors and the like, investing pensions etc, to other bond holders and each other in effect. I wasn't convinced with the thin air concept.

If you substitute banks for The Rags............

 

[Mr Kobayashi]

That is not quite "an effective licence to print money" a the video leads us to believe. More like double entry and an IOU.

It is.

A licence to print e-money for private banks​

Swiss to vote on whether electronic issuance should be prerogative of state, writes Martin Sandbu

Google title above if the below link is paywalled.

Subscribe to read

www.ft.com

 

[Tuearts right boot]

Not really.

Petrol about half UK price
Park for free everywhere except City center.
Council rates about half UK
No heating bills
Less clothes reqd.
Oz Wine $3 a bottle
No MOTs
Food and beer a bit dearer maybe but wages are higher.
I pay 4 quid a pint here on Gold coast. Angler's Arms.

No MOTs or equivalent in a civilised society....how come ?

 

[Nethermoor]

I bought my first house (a 2 bedroom terrace) in Guiseley in 1992 for £41k. Sold it 11 years later for £115k. God knows what it would be worth now!

£350k + definitely.

 

[denislawsbackheel]

Not really.

Petrol about half UK price
Park for free everywhere except City center.
Council rates about half UK
No heating bills
Less clothes reqd.
Oz Wine $3 a bottle
No MOTs
Food and beer a bit dearer maybe but wages are higher.
I pay 4 quid a pint here on Gold coast. Angler's Arms.

Deadly Poisonous snakes and insects
Sharks
Crocs, even in the sea
Marooned from civilisation

 

[andyhinch]

No MOTs or equivalent in a civilised society....how come ?

Civilised society ?

 

[Brightwell’s left peg]

Not really.

Petrol about half UK price
Park for free everywhere except City center.
Council rates about half UK
No heating bills
Less clothes reqd.
Oz Wine $3 a bottle
No MOTs
Food and beer a bit dearer maybe but wages are higher.
I pay 4 quid a pint here on Gold coast. Angler's Arms.

I’m not anti Aus…loved living there, but just to counter some of your points.

No heating bills…but shit loads on AC (especially in Darwin!!)
Loads of money required to travel anywhere other than Aus
Very expensive flights to travel to another city in the Country.
Not sure what wine you’re drinking at $3 a bottle, but most wines in Dan Murphy’s were in the $15-30 range.
Cars are very expensive.
Worst of all though…premier league games on at around 1.00am at a weekend!!