Posted July 27, 201113 yr Like where do pound notes get made? Can't the government just make more notes instead of cutbacks?
July 27, 201113 yr It gets made at the mint. And if you make more notes, it means there's more money for people to have, so you get inflation - where, because everyone has more money, prices go up to match it otherwise the people making the products would be left out of pocket. Also people with savings don't like it for obvious reasons as their money that they've put aside suddenly isn't worth as much anymore. Of course, you have had money printing to an extent so far - it's called quantitative easing, which has been done to make up for us not having much money in the system (when institutions like Lehman Brothers went down, there was a lot of virtual money which hadn't been monetised - put into physical form - which suddenly disappeared from the system), but it needs to be done carefully so you don't get a lot of inflation.
July 27, 201113 yr Like where do pound notes get made? Can't the government just make more notes instead of cutbacks? The people at Waddingtons got taken over a few years back by an American firm Shelli - so we need permission from our American Cousins before we can make any more. Kath
July 27, 201113 yr The people at Waddingtons got taken over a few years back by an American firm Shelli - so we need permission from our American Cousins before we can make any more. Kath :lol: :lol: :lol: :lol:
July 27, 201113 yr I'd like to add what Tyron said: before the Great Depression, Germany printed so much money that their economy went into a hyper-inflation. And from what I read in history books, that was worse than having no money. Anyway, that's how I remember why governments won't print too much money :)
July 27, 201113 yr I'd like to add what Tyron said: before the Great Depression, Germany printed so much money that their economy went into a hyper-inflation. And from what I read in history books, that was worse than having no money. Anyway, that's how I remember why governments won't print too much money :) Printing too much money ends up being a very bad idea in the end... We used to have The Gold Standard (basically, defined as thus - http://en.wikipedia.org/wiki/The_gold_stan...ng_definitions), then someone decided to dump that idea and base things on Fiat Currency http://en.wikipedia.org/wiki/Fiat_currency There are advantages and disadvantages to both, but because of the world banking crisis there has been a lot of advocacy to return to gold and silver.....
July 27, 201113 yr A return to the gold standard would be disastrous I think. It basically puts paid to deficit spending, which really is a must during recessions...
July 27, 201113 yr This thread reminds me of the episode of Bottom where Eddie makes his own money...."this is a 27 pound note".... :lol:
July 28, 201113 yr A return to the gold standard would be disastrous I think. It basically puts paid to deficit spending, which really is a must during recessions... Oh, yeah, it would be difficult to do it just now certainly what with the sheer lunacy of having the $31 trillion debt (that being the $15 trillion official one that the Fed admitted to plus the $16 trillion paid in loans that they tried to sneak under the radar....), but when you hear the likes of Ben Bernanke getting up and saying basically that "gold isn't money", you know that the lunatics have got the keys to the asylum..... Or rather in this case, thanks to Bush and Obama, the klepto-crats have the keys to the US Treasury.......
July 28, 201113 yr I'd like to add what Tyron said: before the Great Depression, Germany printed so much money that their economy went into a hyper-inflation. And from what I read in history books, that was worse than having no money. Anyway, that's how I remember why governments won't print too much money :) East Germany was extremely bad post WWII. From what my parents told me an East German Mark was worthless. I think the one or two we have somewhere in our house would be worth a fair bit now though. On a sidebar, I ADORE your sig.
July 28, 201113 yr East Germany was extremely bad post WWII. From what my parents told me an East German Mark was worthless. I think the one or two we have somewhere in our house would be worth a fair bit now though. They probably would be to a collector....
July 28, 201113 yr The people at Waddingtons got taken over a few years back by an American firm Shelli - so we need permission from our American Cousins before we can make any more. Kath Omfg Kath. <3
July 28, 201113 yr Omfg Kath. <3 I'm going to ask something even sillier than Shelli asks. What does <3 mean? I see it all the time and haven't got the foggiest! If its an insult ... don't answer! Kath
July 28, 201113 yr I'm going to ask something even sillier than Shelli asks. What does <3 mean? I see it all the time and haven't got the foggiest! If its an insult ... don't answer! Kath It's supposed to be a heart! <3 But then it could be a penis or a double scoop ice cream cone...
July 28, 201113 yr I know <3 is supposed to be a heart.....but I always imagine it like a pair of lips trying to give you a smooch. :lol:
July 28, 201113 yr I know <3 is supposed to be a heart.....but I always imagine it like a pair of lips trying to give you a smooch. :lol: It looks a bit like an arse lying on its side with a wizards hat on! Kath
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