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reidpj

Premium Member
  • Content count

    215
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  • Country

    United Kingdom

Reputation Activity

  1. Like
    reidpj reacted to Bullionbilly in eBay & Coin Market Values   
    Me to, ive spent £1000's on here all f&f.
     
  2. Like
    reidpj reacted to Clens92 in The rise of AI and what it means for stackers   
    If you believe that AI and automation will truly take over the majority of jobs, then you would likely support then notion of Universal Basic Income.  It's a viable idea.
     
  3. Like
    reidpj reacted to KDave in Brexit opinions?? Will you ever be allowed to leave?   
    That is a pretty spiteful position is it not? I hope for the same thing as you but more for the advantages that hard brexit will bring in the long run rather than the short term pain which in my view is entirely necessary, but obviously not for the same reasons you do. 
  4. Like
    reidpj reacted to mr-dead in Visa shut down bitcoin debit cards   
    Visa has shut down all bitcoin visa debt cards with no notification.
    http://mailchi.mp/bitpay/wave-crest-card-closure
    Who thought the banks were not going to fight back against bitcoin.
  5. Haha
    reidpj reacted to KDave in £Sterling My Thoughts 🤑   
    I like the idea but the national debt is not really neutral, it has interest cost that we are paying through taxes and at some point it will mature and will need to be paid back. The only real option on such a pile is to borrow again to issue more debt to pay back the maturing debt. Madness but if we cut spending there are tears and if we raise taxes anymore then at some point real economic growth is impacted resulting in less take in the future. Catch 22 of bad times all round. 
    I am interested what do you mean by overheating and cooling down the economy and how does tax factor into this? 
    Haha I am far too mercenary to become a leftie or a righty but always happy to read new ideas.
  6. Like
    reidpj got a reaction from Keenstacker in £Sterling My Thoughts 🤑   
    As I see it:
    The Government decides how much £Sterling is creates (via its spending) and is destroyes (via taxation and/or 'borrowing')
    The Government can never run out of £Sterling - it's supply isn't finite
    The Government cannot go bankrupt (in £Sterling)
    The UK Government owns all £Sterling
    The £Sterling that you believe is yours is the amount that the Government allows you to keep (to use) instead of destroying it via taxation 
    If not enough £Sterling is created (but destruction carries on) then there will not be enough circulating to allow for growth; plus, because there will not be enough currency to buy the goods and services available, the price of said goods and services will fall (deflation - the limited supply of currency will, in theory, buy more of them per £), or the amount of goods and services available will have to shrink (higher unemployment).  Savings have the same effect because they tends to removes £Sterling from circulation.
    If too much £Sterling is created (and not destroyed) then, in theory, the opposite will happen; too much currency will be chasing the limited amount of goods and services available, and inflation (not all inflation is caused by Government over spending) will follow; more labour will be needed to supply the extra demand, thereby pushing up wages (once the available supply of labour has been used up - i.e. everyone who wants to work can work the hours they require),  which, in theory, will lead to greater inflation. Private borrowing tend to have the same effect because they add to the circulating currency.
  7. Haha
    reidpj reacted to C12 in Digital 'Currencies' Are ALL A Scam   
    They better not turn gold into sterling into bitcoin and then back to sterling then.
  8. Like
    reidpj got a reaction from augur in £Sterling My Thoughts 🤑   
    Hi mate
    Commercial banks do not lend out depositors’ money - as was finally admitted by the BOE in 2014.  They, under license from the Government, create the £Sterling to be loaned ‘out of thin air’ as it were.  So long as they’ve an asset (a signature on a loan agreement) to cover the liability (the new deposit created), they can, under Governmental control, create as much £Sterling as is requested.  This, non-Governmental, £Sterling is immediately destroyed upon repayment (the value of the asset must, by law, fall with the liability), it is no recirculated.
    See:  
    Tax dodging is, unfortunately, a part of life, but that doesn’t alter the fact that tax destroys £Sterling as soon as it’s paid.
    You are, of course, entitled to hold whatever opinion you desire.  But it is not my opinion but fact that, here in the UK, £Sterling has a worth  above that which is bestowed by mere trust alone: we are obliged to pay our taxes using it; we must obtain it (from wherever; by whatever means) to meet those obligations - you cannot pay your taxes using gold; you have to sell/pawn/leverage it in order to obtain the necessary £Sterling.
  9. Like
    reidpj got a reaction from Xander in £Sterling My Thoughts 🤑   
    http://neweconomicperspectives.org/2014/06/modern-money-theory-basics.html
  10. Like
    reidpj got a reaction from Xander in January gold?   
    Debt that must be repaid- unlike Government created fiat.  The fiat used to pay the interest the banker's interest has to come from somewhere - Government fiat created by past/present/future spending...
  11. Like
    reidpj reacted to Xander in January gold?   
    More lovely fiat debt created for greedy bankers...that's what they call a good Christmas.
  12. Thanks
    reidpj reacted to Thelonerangershorse in January gold?   
    No, the people struggling with the bills are not people who buy bullion.
  13. Like
    reidpj got a reaction from BackyardBullion in (2017) 1 oz Silver Forum Bars (x6 available)   
    I think you'll find that said staff came from the nearest zoo (Bristol) - something to do with an EU Directive on the transport of wild animals 🙉🙈🙊 😉
  14. Like
    reidpj got a reaction from BackyardBullion in (2017) 1 oz Silver Forum Bars (x6 available)   
    I think you'll find that said staff came from the nearest zoo (Bristol) - something to do with an EU Directive on the transport of wild animals 🙉🙈🙊 😉
  15. Like
    reidpj got a reaction from BackyardBullion in (2017) 1 oz Silver Forum Bars (x6 available)   
    I think you'll find that said staff came from the nearest zoo (Bristol) - something to do with an EU Directive on the transport of wild animals 🙉🙈🙊 😉
  16. Like
    reidpj reacted to Paul in My Chards Experience   
    Meanwhile in other news folks, i am pretty proud of my Hot & Sour Prawn soup i have created 
    Yum Yum !
     
     
     

  17. Haha
    reidpj reacted to onlyroadtoheaven in My Chards Experience   
    I am 6ft4" and 130kg so no small man syndrome here. I do however like Atkinsons and Chard and assume they will give me a huge discount on my next order for sticking up for them .
    Pack mentality? - I think its worse than that. There is clearly some sort of gang culture on this forum. Me and the Sovereign crew are currently at war with the Privvy Possee who in turn are against the Moon Panda Massive. Very nasty. 
  18. Like
    reidpj got a reaction from Roy in Digital 'Currencies' Are ALL A Scam   
    One doesn't have to be that clever to gain wealth (I'm the perfect example of that 😉); just clever enough to keep hold of it 👀
  19. Like
    reidpj reacted to sovereignsteve in Digital 'Currencies' Are ALL A Scam   
    I know, but you're missing my point. When those coins are cashed, there will be an audit trail away from the blockchain. That will be via a broker or perhaps a bullion dealer, or whatever. At that point, the recipient becomes a "real" person and transactions are traceable by those with the knowledge and expertise.
  20. Like
    reidpj got a reaction from JCRJM in Digital 'Currencies' Are ALL A Scam   
    Thing is, we are obliged, by law, to pay our taxes in £Sterling, mate; this obligation is the only thing that gives £Sterling its 'worth' - every UK taxpayer has to obtain it in order to do so.  If the UK Government ever accepted any other 'currency' in payment for taxes, £Sterling would lose all it's value overnight.
  21. Like
    reidpj got a reaction from JCRJM in Digital 'Currencies' Are ALL A Scam   
    Thing is, we are obliged, by law, to pay our taxes in £Sterling, mate; this obligation is the only thing that gives £Sterling its 'worth' - every UK taxpayer has to obtain it in order to do so.  If the UK Government ever accepted any other 'currency' in payment for taxes, £Sterling would lose all it's value overnight.
  22. Like
    reidpj got a reaction from Micky9776 in Best idea for this?   
    Toning's easyish to sort once removed from the slab - bit of kitchen foil in a container; coin on top; couple of teaspoons of bicarb (kitchen soda), and a teaspoon of table salt; enough hot water to cover the coin(s); let the 'de-sulphuring' begin.  Won't take long.  Rinse with warm water.  I always add a squirt of lemon juice, and one of white vinegar, to the brew - probably makes no difference but can't do much harm.
     
     

  23. Like
    reidpj reacted to Ryland in Brexit opinions?? Will you ever be allowed to leave?   
    The heart of the matter can all be boiled down to the U.K. getting caught up in the lies that lead to global collectivism.  I’m reminded of this quote from Atlas Shugged: 
     
    "You have reached the blind alley of the treason you committed when you agreed that you had no right to exist. Once, you believed it was "only a compromise": you conceded it was evil to live for yourself, but moral to live for the sake of your children. Then you conceded that it was selfish to live for your children, but moral to live for your community. Then you conceded that it was selfish to live for your community, but moral to live for your country. Now, you are letting this greatest of countries be devoured by any scum from any corner of the earth, while you concede that it is selfish to live for your country and that your moral duty is to live for the globe." -John Galt
  24. Haha
    reidpj got a reaction from Jay2 in 20% off eBay today   
    All this unexpected gold buying is forcing the Spot price up!!! 😂
  25. Like
    reidpj reacted to flim in Has the sh@t finally hit the dollar fan?   
    http://thesaker.is/the-petro-yuan-bombshell/
     
    The petro-yuan bombshell