The Millionaires Club

Current Message Return to posts

From: LP12

I'm going to give an [ituh] for a quality link & comment however

DowntownPurple913
•
3mo ago
I know that people are terrified of economic collapse due to bad policy leading to market turbulence. But I agree that markets shouldn't dictate democratic decisions. Any policy that seriously challenges the status quo of a constant upward wealth transfer and lower living standards for most, will be met with market hostility naturally because those at the top with concentrated wealth basically control the markets. If we ever want to change this situation, we have to try something different and take a big risk. Otherwise, each future generation will continue to be worse off than ours.

213
u/Beetlebob1848 avatar
Beetlebob1848
•
3mo ago
The owners of UK gilts and bonds are a lot more diverse than just the super rich, we're talking about millions of peoples pensions etc as well

As someone else on here has said, if you're viewing the bond markets as a kind of right-wing thatcherite cabal you're not grasping what's happening here.

•
3mo ago
Its not that diverse, its essentially foreign investors dominated by US financial corps ~30%, the UK treaury corps (QE) ~30%, Penions funds and Insurance funds ~20%,, Banks and Households ~20%

What is interesting is that Treausury Asset Purchasing is essentially MMT lite and no-one thinks that it's crackpot because its always framed as protecting the the markets or stabilising the markets, yet they own a third of UK debt.

MMT doesn't proscribe lending endlessly and running up debt, but it does allow a government to set an interest rate and not be dictated to by the markets.

US Financials and large multi-national financials are by far the biggest risk to the UK in terms of dictating policy and abusing their dominant position in UK debt to achieve policy changes and this needs to stop, either through re-nationalising as much UK debt as possible or treasury asset purchases (essentially MMT)>

//////>>>
they should have set a low rate in 2021/22 or whenever it was,.. but not, they set the divoc etc loan at THE FLOATING RATE. So now .... it's kind of, Fuck them. They deserve to lose ALL THE MONEY (that never was anyway) It's an absolute disgrace (and a joke) and you know what if it costs labour, tories, reform the next election, they know who to blame, the Rothschilds and JPMorgan etc. A low fixed money for nothing rate wasn't good enough for them, they needed 5%!

Current Thread

Author

Time

Would you vote for a gay green Jew who thinks Israel is a criminal state, along with ... [more]

LP12