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 steeleye20  Croydon 05 Nov 17 5.01pm |
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I am not keen on BOE independence. They should have a voice certainly in interest rate decisions. We elect the government and they should be able to determine policy. It seems to me that the BOE is mainly there to look after its members. I think an independent body overseeing the Treasury and the BOE would be better, as we elect our politicians but not bankers. Ah I hear everyone say, but they have the financial knowledge etc. If that's so how would you explain QE? When you are incredibly rich and do not need money, the bank will print money and send it to you !! So, on economic competence and accountability it is bankers out for me. I think 3% rate was more equable especially to hard-pressed savers who have had little income for a very long time.
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 Hrolf The Ganger 05 Nov 17 5.27pm |
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Originally posted by steeleye20
I am not keen on BOE independence. They should have a voice certainly in interest rate decisions. We elect the government and they should be able to determine policy. It seems to me that the BOE is mainly there to look after its members. I think an independent body overseeing the Treasury and the BOE would be better, as we elect our politicians but not bankers. Ah I hear everyone say, but they have the financial knowledge etc. If that's so how would you explain QE? When you are incredibly rich and do not need money, the bank will print money and send it to you !! So, on economic competence and accountability it is bankers out for me. I think 3% rate was more equable especially to hard-pressed savers who have had little income for a very long time.
Oh behave. People trying to pay for their houses and spend money are a priority.
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| steeleye20 Croydon 05 Nov 17 8.27pm |
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Originally posted by Hrolf The Ganger
Oh behave. People trying to pay for their houses and spend money are a priority. Honestly you immigrants. All property is theft.......
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PalazioVecchio  south pole 06 Nov 17 12.20am |
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Originally posted by Stuk
We would need a deathly plague of biblical proportions to ever murder London property prices. And even then the foreign investors would still probably prop it up. and so you do not remember 1989 to 1997 ?
Kayla did Anfield & Old Trafford |
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| Midlands Eagle 06 Nov 17 7.01am |
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The thread is on interest rates. The lady was right, you and some others want to blame all ills on immigration.
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| Stirlingsays 06 Nov 17 7.14am |
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Originally posted by steeleye20
I think an independent body overseeing the Treasury and the BOE would be better, as we elect our politicians but not bankers. Who gets to decide who sits on the 'independent' body? Who judges their decisions? Edited by Stirlingsays (06 Nov 2017 7.15am)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| Stirlingsays 06 Nov 17 7.20am |
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Originally posted by steeleye20
All property is theft....... There is a sense in which this is true. However, it doesn't work.....The upshot is that you destroy what meritocracy exists within the system.....don't get me wrong, many people don't really deserve the level of advantage they have...but it's also true that the majority do. The soviets implemented the total restructuring of society and essentially 'All property is theft' was part of what ended up murdering millions of people.....The Chinese also. Marxism works better as a criticism of capitalism. It works better as a form of social conscience. However, it has its own huge problems and has never worked anywhere as a ruling system. Wherever it has ruled or rules it uses repression to stay in power. Edited by Stirlingsays (06 Nov 2017 7.24am)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| steeleye20 Croydon 06 Nov 17 9.14am |
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Originally posted by Stirlingsays
Who gets to decide who sits on the 'independent' body? Who judges their decisions? Edited by Stirlingsays (06 Nov 2017 7.15am)
Gordon Brown, who gave the BOE independence, is very keen on the idea, thinks they are not accountable enough.
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| Stirlingsays 06 Nov 17 9.47am |
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Originally posted by steeleye20
Gordon Brown, who gave the BOE independence, is very keen on the idea, thinks they are not accountable enough.
How on earth in a month of Sundays are, 'senior political/financial people' independent? Better...in my view....rather than worrying about independence...instead hold them accountable....That's what a Prime Minister would be doing if they did their sodding jobs properly.....instead we get, 'more jobs for the boys'...another pointless layer that would change absolutely bugger all.
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| steeleye20 Croydon 06 Nov 17 10.10am |
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Originally posted by Stirlingsays
How on earth in a month of Sundays are, 'senior political/financial people' independent? Better...in my view....rather than worrying about independence...instead hold them accountable....That's what a Prime Minister would be doing if they did their sodding jobs properly.....instead we get, 'more jobs for the boys'...another pointless layer that would change absolutely bugger all.
Here is an example:- The PM head of an elected government is at odds with the BOE because govt policy is to represent savers and not just property owners. So the government cannot carry out its policy as the BOE sets the interest rate to the disadvantage of savers who are not powerful bankers. The new body considers both sides and decides.
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| Lyons550 Shirley 06 Nov 17 1.44pm |
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Originally posted by steeleye20
I am not keen on BOE independence. They should have a voice certainly in interest rate decisions. We elect the government and they should be able to determine policy. It seems to me that the BOE is mainly there to look after its members. I think an independent body overseeing the Treasury and the BOE would be better, as we elect our politicians but not bankers. Ah I hear everyone say, but they have the financial knowledge etc. If that's so how would you explain QE? When you are incredibly rich and do not need money, the bank will print money and send it to you !! So, on economic competence and accountability it is bankers out for me. I think 3% rate was more equable especially to hard-pressed savers who have had little income for a very long time.
Edited by Lyons550 (06 Nov 2017 1.44pm)
The Voice of Reason In An Otherwise Mediocre World |
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| Stuk Top half 06 Nov 17 2.08pm |
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Originally posted by PalazioVecchio
and so you do not remember 1989 to 1997 ? Yep, and it won't happen again and certainly not now. When you see the base rate creep up to 10% start worrying. i.e. never.
Optimistic as ever |
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