Jump to content

Public 'prepared' to pay for healthcare


Galen
 Share

Recommended Posts

9 minutes ago, pongo said:

You believe that you know more than the Bank of England and the markets?

Govts and central banks decide how much money is in an economy at any time. It’s an entirely artificial system. But you are almost certainly stuck to the old fashioned  idea that the economy is like the household budget. It isn’t.

It is like running a household budget. We can either afford or we can't afford. The money either balances or it doesn't. It's because of "expert" pinheads in government thinking basic facts of life don't apply to national economies and government spending that we (most of the major world powers) are in the mess we are in.

Edited by Henry
  • Like 1
Link to comment
Share on other sites

@Henry - when a govt borrows money who do you imagine that they borrow from? And what is it that they actually borrow? And who gives the lenders the right to create that liquidity in the first place?

Putting it country simple, have you ever wondered what liquidiy is or how it is created and destroyed?

Link to comment
Share on other sites

14 minutes ago, pongo said:

The IOM is not a sustainable model in a world of modern money. The household budget is not a good model for govt.

It’s also undemocratic. Since monetary policy here is ultimately determined by the BOE and the UK govt.

ETA: if the IOM uses sterling then it should have an MP, is the point I am making.

Gibraltar has its own MP and it can’t print it’s own money or issue sovereign debt itself either. The fact is we have to work on a house hold budget model as we cannot do any of the things you say as we are a Crown Dependency of the UK with no central bank and no ability to print Sterling. 

Edited by thesultanofsheight
Link to comment
Share on other sites

7 minutes ago, thesultanofsheight said:

Gibraltar has its own MP and it can’t print it’s own money or issue sovereign debt itself either. The fact is we have to work on a house hold budget model as we cannot do any of the things you say as we are a Crown Dependency of the UK with no central bank and no ability to print Sterling. 

You've answered your own question. Gibraltar has democratic representation in a Parliament which has control over monetary policy (via the BOE).

Edited by pongo
Link to comment
Share on other sites

6 minutes ago, pongo said:

@Henry - when a govt borrows money who do you imagine that they borrow from? And what is it that they actually borrow? And who gives the lenders the right to create that liquidity in the first place?

Putting it country simple, have you ever wondered what liquidiy is or how it is created and destroyed?

Governments borrow money from all over the world. When they increase inflation, by printing more money, they're not borrowing, they're stealing, as it causes all the existing money supply to lose value.

Link to comment
Share on other sites

3 minutes ago, Henry said:

Governments borrow money from all over the world. When they increase inflation, by printing more money, they're not borrowing, they're stealing, as it causes all the existing money supply to lose value.

Nonsense. Provide any additional liquidity created is also collected back via taxes that liquidity is effectively destroyed. You have to pay your taxes using the govt money. You cannot pay in bitcoin or gold.

The problem has been under taxation - ie not removing Sterling liquidity.

Edited by pongo
  • Thanks 1
Link to comment
Share on other sites

10 minutes ago, pongo said:

You've answered your own question. Gibraltar has democratic representation in a Parliament which has control over monetary policy (via the BOE).

Gib pound is the same as Manx pound backed 1:1 with Sterling. 

https://en.m.wikipedia.org/wiki/Gibraltar_pound

They can’t do any of the things you say. They are in the same position as us on currency and debt despite having an MP in Westminster. Unless you can freely print your own currently and issue sovereign debt you need to take a household budget approach to finances as you can’t just create more money. 

Edited by thesultanofsheight
Link to comment
Share on other sites

1 minute ago, pongo said:

Nonsense. Provide any additional liquidity created is also collected back via taxes that liquidity is effectively destroyed. You have to pay your taxes using the govt money. You cannot pay in bitcoin or gold.

The problem has been under taxation - ie not removing Sterling liquidity.

What you have just posted has no relation to what we were previously talking about. It's as if you're a robot with automated responses that make no sense to the context.

  • Like 1
Link to comment
Share on other sites

7 minutes ago, thesultanofsheight said:

Gib pound is the same as Manx pound back 1:1 with Sterling. 

https://en.m.wikipedia.org/wiki/Gibraltar_pound

Tney can’t do any of the things you say they can. They are in the same position as us on currency and debt despite having an MP in Westminster. 

There is no long term future for the IOM outside of the UK. It's an accident of history anyhow - not an end in itself.

Edited by pongo
  • Thanks 1
Link to comment
Share on other sites

1 minute ago, pongo said:

There is no long term future for the IOM outside of the UK. It's an accident of history anyhow.

Yes, but for most Manx people selling out to the UK just to make sure IOMG pensions are paid is utterly abhorrent. We need to learn to live within our means. We can’t print money and we can’t raise sovereign debt. 

Edited by thesultanofsheight
Link to comment
Share on other sites

1 minute ago, thesultanofsheight said:
4 minutes ago, dilligaf said:

I wonder if the public are prepared to pay for healthcare ? :)

With employee / employer NI running at 20% we’re already paying handsomely for it Dilli. 

I was only joking, because the subject matter was getting buried in bullshit.:)

  • Like 1
Link to comment
Share on other sites

Just now, thesultanofsheight said:

Yes, but for most Manx people selling out to the UK just to make sure IOMG pensions are paid is utterly abhorrent. We need to learn to leave within our means, 

That argument might resonate with me more if the IOM were democratically independent. But it isn't. Most policy is decided in London. Your version of Manx pride seems to be about rejecting the democratic mandate (foreign policy, monetary policy, declaring war etc). In exchange for local taxes and colourful stamps.

  • Thanks 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...