Inflation

Is Inflation Biden's fault?

  • Yes

    Votes: 20 41.7%

  • No

    Votes: 28 58.3%
  • Total voters
    48
Don't know where you get that, I still pay VAT on imports as well as customs duties on certain classes of products.
I have a South African import and export permit as I make LED fixtures.
Property is really cheap in dollars though and the nice neighborhoods probably beat what most states have.
 
hanimmal said:
lol you really are trying hard to troll me, but it really is not working. I never tried to define 'money supply' to be wrong like you are pretending like I did.

Unlike when you were flat out wrong about banks somehow creating currency.
Click to expand...

So this what you wrote is only possible if you modify a deposit balance.
Screenshot_20220619-140227_Brave.jpg
 
Pexhausted
ANC said:
Don't know where you get that, I still pay VAT on imports as well as customs duties on certain classes of products.
I have a South African import and export permit as I make LED fixtures.
Property is really cheap in dollars though and the nice neighborhoods probably beat what most states have.
Click to expand...

Well I pay no import taxes on okapi knives or jim green boots, and the exchange rate works in my favor as you indicated so that's my experience on importing from SA to the US.

Do you have a link to your light fixtures? I would love to check those out.
 
ActionianJacksonian said:
So this what you wrote is only possible if you modify a deposit balance.
View attachment 5151612
Click to expand...
So you are only able to confuse yourself into thinking that somehow a bank is lending $900 for every $100 they have deposited in them if you 'modify a deposit balance'?

Wtf does 'modify a deposit balance' even mean in this sense?

It really is getting to look like you really are just spamming this thread to keep it at top of people's mind and stopped trying to make sense a while ago.
 
hanimmal said:
So you are only able to confuse yourself into thinking that somehow a bank is lending $900 for every $100 they have deposited in them if you 'modify a deposit balance'?

Wtf does 'modify a deposit balance' even mean in this sense?

It really is getting to look like you really are just spamming this thread to keep it at top of people's mind and stopped trying to make sense a while ago.
Click to expand...

Letz me poots da dummess way 4U:
#
Since:

money supply = deposits + circulation

the only way to loan 90% and not create new currency that didn't not exist before is to

modify the account balance to subtract the loan.
#
Since you can't be bothered to fact check that one sentence #*# I will leave it alone as you've completely looped out here.
 
ActionianJacksonian said:
Letz me poots da dummess way 4U:
#
Since:

money supply = deposits + circulation

the only way to loan 90% and not create new currency that didn't not exist before is to

modify the account balance to subtract the loan.
#
Since you can't be bothered to fact check that one sentence #*# I will leave it alone as you've completely looped out here.
Click to expand...
You really are trying so hard to come off as smart by being condescending, but you are hilariously misinformed in the way that you keep making shit up about 'new currency'.
 
ANC said:
Don't know where you get that, I still pay VAT on imports as well as customs duties on certain classes of products.
I have a South African import and export permit as I make LED fixtures.
Property is really cheap in dollars though and the nice neighborhoods probably beat what most states have.
Click to expand...
Off topic but im after a second opinion.

I was chatting with a South African the other week who now lives in Oz. He was a barrister in South Africa. He was saying that South Africa used to be nuclear armed and that the Americans removed them and gave the nukes to the Israelis around the time Africa switched to majority rule.
 
Lucky Luke said:
Off topic but im after a second opinion.

I was chatting with a South African the other week who now lives in Oz. He was a barrister in South Africa. He was saying that South Africa used to be nuclear armed and that the Americans removed them and gave the nukes to the Israelis around the time Africa switched to majority rule.
Click to expand...
There was no way they would let the African National Congress get hold of those nukes... Every "I told you so" came true with these corrupt fuckers.
 
hanimmal said:
Unlike when you were flat out wrong about banks somehow creating currency.
Click to expand...

Yes, when a bank gives out a loan it doesn't loan out money it has. Instead they create the currency and transfer it to you. Now the bank is more in debt and you have money. When you pay back the loan the bank's debt is zeroed and they get a bit more money from you in form of interest.
 
ANC said:
There was no way they would let the African National Congress get hold of those nukes... Every "I told you so" came true with these corrupt fuckers.
Click to expand...
Interesting.
The words he used was America was not going to tolerate an African country with nukes.
 
Money is first and foremost created when someone gets a loan. The bulk of money represents banks’ debts to the public. When a bank grants a loan, both its assets and liabilities increase. The lending bank asks the customer to sign a promissory note and adds the resulting receivable to its assets. However, the loan is withdrawn only when the customer's account is credited with the equivalent amount, so that the bank's debts also increase.

As the amount of debts increases, so does the amount of money. The customer becomes aware of an increase in his account balance and notices that he has more money than a moment earlier. When the loan is repaid, the customer must arrange for the required sum to be available in the account. At repayment of the loan, both the bank’s debts and receivables are wiped off the bank's accounts. In practice, the amount of bank debt deducted from the customer's account is slightly more than the sum originally borrowed, as the bank collects interest on the loan and makes some other charges
 
the really clever thing banks do is that any payments you make, first services the interest owning only once that is all paid up does the balance go towards the principal debt. (I studied towards a banking diploma and worked for a large one).
 
HGCC said:
Well, bank runs really aren't a big concern. The wiki on the topic covers quite a bit of what goes on that makes that not a big issue.

Regarding who holds the bag at the fdic insured bank, its the federal government. They only insure up to a certain amount per person, but its not like they can run out of money. The central banking structure serves as a backstop for quite a bit of the retail/commercial/institutional banking industry to prevent the sort of problems you indicate.
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I'm gonna dip our on this but I meant to ask you earlier and forgot.

If the Federal government is who you say is left holding the bag, who is the Federal government?
 
"A number of factors will determine how long it will take for inflation to ease, but the conflict in Ukraine plays a major role.

"Because Russia's invasion has driven that change in energy and food costs quite substantially, if that situation deteriorates then inflation will get worse across the globe," Ms Ell said.

"Our expectation at the moment would be that inflation will peak around the second or third quarter of this year, and then will gradually come down."

She predicts inflation to be above a rate that central banks are comfortable with through 2023.

"Because of that, we will continue to see central banks lifting rates and borrowing costs remaining elevated."
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www.abc.net.au

Worried about lettuce? Try living in one of the world's most expensive cities as inflation surges

Australia isn't the only country seeing everyday foods like iceberg lettuce go from basic to bougie. This is what life looks like for people in some of the world's most expensive cities as inflation surges.
www.abc.net.au www.abc.net.au
 
Cool read:

7 June 2022
Cost of living, Data, Expatriate management, Inflation
  • A 20% rent increase cements London’s position within top five most expensive cities in the world, while a 12% increase in rental costs sees New York overtake Geneva to secure second place
  • Food prices soar across the globe due in part to shortages created by the war in Ukraine, but worst is unfortunately yet to come for UK
  • Sunflower and palm oil shortages drive up cost of cooking oils by a quarter on average globally*, and by more than double in Beirut, Tehran and Sarajevo -compared to a 4% annual increase in the UK
  • Petrol prices climbed on average 37% y-o-y across all cities, compared to a 23% rise in London. The world’s most expensive petrol is still found in Hong Kong, at £2.26 per litre – up from £1.87 last year
  • Russian cities remain stable in ranking despite sanctions. Prices soar by 17% in Moscow, but city falls one place to 62nd globally due to weak rouble
  • Rising prices and a stronger currency push Luanda, Angola, up 108 places in the cost of living ranking
  • Ranked in 207th place, Ankara, Turkey is now the cheapest city in the world for expats and tourists, after falling 5 places from 2021.

News & events - ECA International

www.eca-international.com www.eca-international.com
 
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