The EU debate - Part III

That's one version.

 

Then he's an idiot.

The big banks collapsing would see liquidity disappear from the system and business sucked dry of working capital. Expansion would be virtually impossible due to the cost of borrowing and the entire system would grind to a halt

City traders create money from nothing for their clients and in doing so unwittingly also create an environment that keeps the poor, poor and the wealthy wealthy.

Schiff is a stockbroker btw.......

 

That's the reality. He lived off Newland Avenue

 

They create currency rather than money, and the currency is ultimately debt with nothing tangible supporting it.

 

As I say, that's one version.

 

Not really mate, I've had a ****e week and it's Friday night. A big weekend starts tomorrow for me, and will finish early hours of Monday morning

 

It's not a version that's a fact

 

It's certainly a version.

 

That's absolute bollocks. They create wealth by trading in stocks that have to be seen to be perpetually rising in order to placate the City and thus the shareholders. This requirement means that stagnation (or stability) is impossible in the PLC climate, and therefore it drives cost downs, mergers and ultimately globalisation

He's a ****ing trader

 

That seems to be the view of some of those in the crowd. They seem a tad less successful than him and contribute less to the economy and the debt keeps growing.

 

Fair enough mate. I just can't sleep.

 

It's not a version of anything you bell end, it's called reality

His Ma lived on Grafton street for a spell.

 

As I say yet again, it's a version, a limited one, but a version.

 

So you're now an advocate of the City?

The fact that those who challenge the obvious futility of the City have less cash than him, doesn't mean that the PLC culture works. See many of the talentless twats who've made an obscene fortune out of trading for details

 

Challenge it then? What's your version?

 

You're jumping the gun again. I haven't said I'm an advocate for the City. Your second paragraph is nearer to an issue, but not the one I was pointing at.

It was more the issues of bureaucratic intervention I was meaning.

 

Different to yours, and from a better position, and no, I won't go into details.

You can have your version, you're welcome to it.

 

The system simply can't allow the big banks to collapse, therefore they print money to bail them out when they **** up. The issue isn't the basic banking system though, it's the greed that drives the need for ever increasing returns that's the issue...

 

The system as it's been allowed to develop and as it stands can't allow it, but it's not sustainable and can only lead to more debt as they don't print money, they create create debt that they call currency.

 

I lived on the avenues in the 80's as a student and then came back years later and bought housing stock. I know the area well and know that Gift lived there, and often saw him wandering around clutching a blanket. So I doubt your 'position' is anything to challenge what I've said, hence the reason you haven't