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I've just read that ING has bought the British savings accounts from Landsbanki and another Iceland bank. That means your money is safe.
by felixmar 18y ago
I've just read that ING has bought the British savings accounts from Landsbanki and another Iceland bank. That means your money is safe.
- streety 18y agohttp://news.bbc.co.uk/1/hi/business/7658417.stm http://news.bbc.co.uk/1/hi/business/7658417.stm Not only that but apparently good old Alistair has my back.
- helveticaman 18y agoDon't want to get all diggity here, but...perhaps instead of trusting suits with your money, you might want to put them in a special kind of atoms that don't rust...or decay radioctively...It's kind of retro, but throughout history, it's been a sound thing to do.
- maxklein 18y agoAre you talking gold? That's just silly. you know how little Gold there is compared to the needs of the world? And you know that a gold based economy basically puts all the power in the hands of those who physically own the gold - what happens to countries like Chad and so on?
- dualogy 18y ago#1 -- Well he didn't suggest that everyone do it. #2 The actual amount available at any given time is not so important as over time whatever amount there is reflects whatever "amounts" of goods, services, value and labour "exist". You have the same the other way around with the paper money supply. Increase it, and "over time" there's just as much "inflation" (not a price increase BUT a money devaluation) to cover that. So how much gold Chad has compared to other countries matters exactly zero.
- jmtame 18y agoIf you are actually arguing in favor of a fractional reserve system, I fail to see any logical support for that. A fractional reserve system has two truths, two facts: 1) The debt will always become greater in a country, because the money is debt in the first place. 2) The income disparity will always increase, meaning you will never be able to overcome poverty, sickness, or even war. The very way the fractional reserve system works is by nature transferring wealth from the lower and middle-class to the upper, and from there it goes to a few very wealthy, very elite.
- deleted 18y ago[deleted]
- maxklein 18y agoLook at the debt list of the world. Very few countries in the world are seriously in debt, only about 15 or so. The rest have positive cash balances. What I know is that the age of Gold was the age of aristocracy. The age of paper money was the age of democracy. I prefer to learn from history than believe what some guy on a message board tells me.
- jmtame 18y agoHave you seen the US debt lately?
- maxklein 18y agoThe debt became that way when the U.S switched to a father-son, husband-wife presidential system.
- wheels 18y agoYeah, it's pretty much on par with what you'd expect: http://www.nationmaster.com/graph/eco_cen_gov_deb_tot_of_gdp-central-government-debt-total-gdp http://www.nationmaster.com/graph/eco_cen_gov_deb_tot_of_gdp... http://www.nationmaster.com/graph/eco_deb_ext-economy-debt-external_pergdp http://www.nationmaster.com/graph/eco_deb_ext-economy-debt-e...