Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
Fasten Your Seatbelts Stock Market Make Or Break – Big Trends Ahead - 17th Sep 20
Peak Financialism And Post-Capitalist Economics - 17th Sep 20
Challenges of Working from Home - 17th Sep 20
Sheffield Heading for Coronavirus Lockdown as Covid Deaths Pass 432 - 17th Sep 20
What Does this Valuable Gold Miners Indicator Say Now? - 16th Sep 20
President Trump and Crimes Against Humanity - 16th Sep 20
Slow Economic Recovery from CoronaVirus Unlikely to Impede Strong Demand for Metals - 16th Sep 20
Why the Knives Are Out for Trump’s Fed Critic Judy Shelton - 16th Sep 20
Operation Moonshot: Get Ready for Millions of New COVAIDS Positives in the UK! - 16th Sep 20
Stock Market Approaching Correction Objective - 15th Sep 20
Look at This Big Reminder of Dot.com Stock Market Mania - 15th Sep 20
Three Key Principles for Successful Disruption Investors - 15th Sep 20
Billionaire Hedge Fund Manager Warns of 10% Inflation - 15th Sep 20
Gold Price Reaches $2,000 Amid Dollar Depreciation - 15th Sep 20
GLD, IAU Big Gold ETF Buying MIA - 14th Sep 20
Why Bill Gates Is Betting Millions on Synthetic Biology - 14th Sep 20
Stock Market SPY Expectations For The Rest Of September - 14th Sep 20
Gold Price Gann Angle Update - 14th Sep 20
Stock Market Recovery from the Sharp Correction Goes On - 14th Sep 20
Is this the End of Capitalism? - 13th Sep 20
The Silver Big Prize - 13th Sep 20
U.S. Shares Plunged. Is Gold Next? - 13th Sep 20
Why Are 7,500 Oil Barrels Floating on this London Lake? - 13th Sep 20
Sheffield 432 Covid-19 Deaths, Last City Centre Shop Before Next Lockdown - 13th Sep 20
Biden or Trump Will Keep The Money Spigots Open - 13th Sep 20
Gold And Silver Up, Down, Sideways, Up - 13th Sep 20
Does the Stock Market Really "See" the Future? - 12th Sept 20
Basel III and Gold, Silver and Platinum - 12th Sept 20
Tech Stocks FANG Index Nearing Critical Support – Could Breakout At Any Moment - 12th Sept 20
The Tech Stocks Quantum AI EXPLOSION is Coming! - 12th Sept 20
AMD Zen 3 Ryzen 4000 Questions Answered on Cores, Prices, Benchmarks and Threadripper Launch - 12th Sept 20
The Inflation Mega-trend is Going Hyper! - 11th Sep 20
Gold / Silver Ratio: Slowly I Toined… - 11th Sep 20
Stock Market Correction or Reversal? The Jury Isn't Out! - 11th Sep 20
Crude Oil – The Bearish Outlook Remains - 11th Sep 20
Crude Oil Breaks Lower – Sparking Fears Of Another Sub $30 Price Collapse - 11th Sep 20
Inflation by Fiat - 10th Sep 20
Unemployment Rate Drops. Will It Drag Gold Down? - 10th Sep 20
How Does The Global Economy Recover After This Global Pandemic? - 10th Sep 20
The Best Mobile Casino - 10th Sep 20
QE4EVER! - 9th Sep 20
AMD Ryzen Zen 3 4800x 10 Core 5ghz CPU, Cinebench Benchmark Scores (Est.) - 9th Sep 20
Stock Traders’ Dreams Come True – Big Technical Price Swings Pending on SP500 - 9th Sep 20
Should You Be Concerned About The Stock Market Big Downside Rotation? - 9th Sep 20
Options Traders Keep "Opting" for Even Higher Stock Market Prices - 8th Sep 20
Gold Stocks in Correction Mode - 8th Sep 20
The law of long-term time preference and Gold ownership - 8th Sep 20
Gold Bull Markets: History and Prospects Ahead - 8th Sep 20
Sheffield City Centre Coronavirus Shopping Opera Ahead of Second Covid-19 Peak - 8th Sep 20
Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
From Trump’s TikTok Mess to US Tech Cold War against China - 7th Sep 20
The Federal Reserve vs. Judy Shelton And Gold - 7th Sep 20
Fed Dials Up Inflation Target…Own Gold - 7th Sep 20
Does Gold Still Have Plenty of Potential? - 7th Sep 20
CDC Shock Admission - THERE IS NO PANDEMIC! Over 90% of Deaths NOT From COVID19 - 7th Sep 20
Stock Market SPX to Gold/Silver Ratios Explored – What To Expect Next - 7th Sep 20
Is the Precious Metals Market really Overwhelmed and Chaotic - 7th Sep 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

Mr Osborne’s Bew Pound Design Challenge

Currencies / British Pound Oct 12, 2014 - 06:10 PM GMT

By: Submissions

Currencies

Tom Naysburn writes: I was excited to read about Mr Osborne’s new design competition, so I decided to submit my suggestion. I am conservative by nature, I dislike waste and excess, and see untapped potential everywhere, but I don’t expect that to sway his decision.


UK politics has been going really well, if you like diversion away from the real issue of our time, the indebtedness and our fiat currency. Talking about anything else is a side-show. Politics has become all back to front. To the fore, is who can be the slickest player in town, the suit, the make up, the designer dress, the bland irrelevant language, how convincingly they can kiss their wife at conference or not answer the interviewers question. In the background, hidden, is the judgement, the deal making, the vision, the decisions, the conviction, the substance, the plan. People have seen through the actors and tired old script, while the real show, the main event, is private admittance only. Until this changes, nothing will, and we will continue to drift from farce to folly under the sophisticated editorial guidance of the media.

The root of people’s disaffection with politics, politicians and the state of the nation, is the lack of balance they see everywhere, the unsustainability of almost everything we do: the consumption, the population, the climate, the government debt, the resources, which when gone, are gone forever. Everything requires balance, in argument, in reason, in consumption, in nature, in life itself. We must return a sense of balance, a perfect equilibrium. <see sustainable capitalism>

Unlike Mr Osborne, most people don’t realise, due to lack of time, family, or other work commitments, that in our financialised nation, everything comes down to economics and money. Economics, the study of the mind in the matters of pounds and pence, and since we value everything in pounds and pence, economics is us, we are economics and our economics is unwell.

Our money is borrowed. Our money is debt. Our debt is paper. To borrow, to spend today what we cannot currently afford, to live the “high-life” but to be paid for tomorrow. They say tomorrow never comes, but when tomorrows are accumulated they add up to a lifetime, the next generation, the weakest among us, the children of the nation.

The current state of our fiat system is bordering on usury. History warns us about diminishing numbers of asset holders and a rampant rentier class. All sense of balance lost. The unbalance can be seen clearly when you look at the current interest rate environment. With nominal rates standing at 0.5% and interest rates equating to the cost of money, the spread of prices for individuals has become excessively wide. I may be able to borrow against a property at 5%, but many can’t borrow at any price, let alone wonga rates.

If money really does grow on trees, and is merely a printed piece of paper backed by nothing but a promise from people the public do not trust, why don’t we harvest all the trees and print “loadsamoney”, especially while interest rates are at historic lows? This is the Keynesian, Socialist, Labour party way to ruin. Considering we still have a deficit approaching £100bn should our money, and by extension our politics, really continue to be a confidence game, between the politicians “the players” or the deceivers, and the general public, “the mark”, or the deceived.

Few may have the facts, but many have feel, that ability to see “the right of a thing” but not know exactly why. That is why confidence in politicians is at an all time low, they feel the deception, and they know its not working for them. Things will not change until our money is made sound and well again.

Our money has to be limited in some way, not just by the amount of pulp in the world, for it to get better again, to form a new certainty. Although gold is a thing of the past, with which we shouldn’t look back, it’s supply was genuinely limited by hard work and scarce supply. Is it beyond belief, we can’t think of a modern substitute, maybe something like the debt itself, such as committing to a GILT ceiling, a real 10 year plan? In doing so, we can make our money valuable again, a new confidence to start a race to the top, not the bottom, with which we can afford to go out and make new friends around the world, and do what we do best, trade.

By Tom Naysburn

http://zanadome.com

Zanadome.com is an alternative commentary, news and views  site, incorporating a look behind the headlines, and attempting to show the right way to reason.

Copyright © 2014 Tom Naysburn - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules