Command ecomony takes shape

I was shocked to read online that the government is now telling banks how to run their business. Where does Mr Darling and Dr Brown think the money comes from?

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Command ecomonies do not work, (e.g. NHS, Soviet Empire) because the real world needs more flexibilty.

Reply to
Dave
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No worry!

They won't take any notice!

Reply to
Mel Rowing

Dave wrote in news: snipped-for-privacy@f63g2000hsf.googlegroups.com:

Why are you complaining now? The government has always told banks how to run their business, that's why there's no difference between them. The choice you are offered has only two components:

1) Which of the clearing banks is ripping you off the least? 2) Do you prefer horses (Lloyds), Goldfish (Barclays), Pigs (Natwest), or whatever animal HSBC uses, or squirrels (Abbey) etc etc.

Banking is a government-protected oligopoly and as a result their service is shit. They have no incentive to improve, and nobody lost their job from copying the other bank. Really you should be shocked that this has been true for decades, although it's good you're now aware when the government wants to make it worse.

Basically, they mistakenly think money is the notes the government prints, and that if they print more notes there will be more money in the economy. So the short answer is, they think the money comes from the government.

Reply to
A Monkey

In message , Dave writes

That's is at the root of our present trouble, the uncontrolled money supply. RH

Reply to
Robert Henderson

snipped-for-privacy@f63g2000hsf.googlegroups.com:

I think even our chancellor knows better than that!

Reply to
Mel Rowing

Mel Rowing wrote in news: snipped-for-privacy@u12g2000prd.googlegroups.com:

|Oh really, I can't undedrstand his wasting so much money then. Anyway I thought presbyterians were supposed to be frugal. ;)

Reply to
A Monkey

To be honest about the banks accounts, first I would like New Liebour to get into the spirit it suggests, and tell the UK public the REAL liabilities of Northern Crook, the REAL amount that the PFI scam is going to cost the UK taxpayers over the entire contract period, the REAL balance sheet of all the other scams Gordon Brown used to hide his economic incompetence, and the REAL cost of it's ID database / ID cards.

Reply to
Ar

Until you have another Northern Rock/Bear Stearns/LTCM/Lloyds... and all the champions of de-regulation will be screaming for government intervention and state-backed bail-outs

Reply to
whitely525

innews: snipped-for-privacy@f63g2000hsf.googlegroups.com:

I once posted that money comes from the labours of the people. I don't think that a non-job paid for by government debt is work, though.

Reply to
Dave

innews: snipped-for-privacy@f63g2000hsf.googlegroups.com:

Nationwide is a better deal, IMO.

I was thinking about an Egg ISA. (But I phoned a chicken for my car insurance.)

The history of banking is facinating. There is a lot of info about paper money, but I would like to know about the origins of electronic money. E.g I had a WorldPay transaction go through without suppling the 3 digit security code, even though one was requested.

Reply to
Dave

Actually, there are plenty of other banks to use eg Raphaels

Reply to
Dirk Bruere at NeoPax

and they're all subject to the same government cartel regulations.... eg reserve ratios....

Reply to
abelard

it isn't 'uncontrolled'....it is/has been purposefully and continuously expanded. the usual socialist irresponsibility and incompetence

the bbc item is just passing onwards more 'new' labour lies.....

the clown is bailing out the banks as usual....and trying to hide that fact... he should never have let this situation develop.....

it goes back to his incompetent meddling with the bank and regulation system....

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regards

Reply to
abelard

Well someone has to.

Reply to
John of Aix

the government 'has to' do no such thing... the government chooses to.....it is part of how government controls your life....

Reply to
abelard

In message , abelard writes

By a failure to control financial institutions. RH

IT goes back to Thatcher and her removal of credit controls plus the effects of the BIG Bang in 1987. RH

Reply to
Robert Henderson

financial institutions are controlled.... it is the nature of those controls and the effectiveness of those controls that matter... the clown made some of the controls ineffective by his usual meddling...

nonsense...

banks are part of the government money cartel....they are structured so that there is no downside for the banks in taking ridiculous risks... the boe was nationalised in 1946....guess who..

Reply to
abelard

In message , abelard writes

Hence, insufficient state control . The limitations of the Bonkers 9000 series revealed cruelly yet again. RH

Reply to
Robert Henderson

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