Credit deflation and the reflation cycle to come (part 3)

[AlfredTheLittle]

1 hour ago, DurhamBorn said:

They are removing incentives to work in many areas.Its very sinister.Take Universal Credit.Now families earning up to £50k can get it (thats if they are getting £750 a month for rent in it) there is no point saving because it stops your claim if you have over £16k.

 

It's interesting, if you have an ISA you get caught by the £16k limit, but if you put it all in your pension or spend it all on a house you don't. So ISAs are actually a bit of a trap in many ways. I'm caught by this as have my son living with me, paying a lot of rent, but have savings in an ISA. I have considered moving them all into my pension then getting my rent paid, but I'm hoping to buy a house soon ( which again will save the government paying my rent).

They seem to have 2 objectives: keep house prices high at all costs, and keep people consuming to keep the economy moving ( which obviously is the opposite of what they claim they want to do for the environment). Or maybe I'm being too kind and the reality is that there are no policy objectives, they just don't have a clue.

[Noallegiance]

7 minutes ago, Cattle Prod said:

If you have an independent source of income, you are free, and the state has to work for you. If your source of income comes from the state, you work for the state; whether you know it or not, you are a slave. So of course they want more slaves, and less clients.

"The Matrix is a system, Neo. That system is our enemy. But when you’re inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy.”

“You have to understand, most of these people are not ready to be unplugged. And many of them are so inert, so hopelessly dependent on the system that they will fight to protect it.”

– Morpheus

[Agent ZigZag]

33 minutes ago, AlfredTheLittle said:

It's interesting, if you have an ISA you get caught by the £16k limit

If you applied for the new Universal Credit and did not declare your ISA how would the system know?

[AlfredTheLittle]

1 minute ago, Agent ZigZag said:

If you applied for the new Universal Credit and did not declare your ISA how would the system know?

You'd hope they would know, but you're right they might well not! 

[Hancock]

2 hours ago, Harley said:

Roadmap date?

https://cryptobriefing.com/bank-of-england-says-cbdc-could-launch-by-2030/?utm_source=main_feed&utm_medium=rss

Why does the BoE need another currency are they trying to tell us the one they are meant to be looking after is not very good.

And if that ones not very good why would their next one be any better.

When they release it do all the members of the ruling party get a load for free, and then us plebs get to bid it up thus making them rich.

All these currencies what can ultimately be increased with the click of a button seems shitter than the current system, and only good for the people who get in early. The latter being like the UK housing market.

Just rhetorical questions, no need to answer!

 

[Agent ZigZag]

16 minutes ago, AlfredTheLittle said:

You'd hope they would know, but you're right they might well not! 

I dont think they do. I view the system as being built on fear. Fear of being caught, fear of being fined etc. As long as you dont take the mickey I reckon you can get away with most things

[JimmyTheBruce]

24 minutes ago, Agent ZigZag said:

If you applied for the new Universal Credit and did not declare your ISA how would the system know?

If you've ever logged on to the HMRC gateway, you can see that they are linking you to your accounts with private banks.  It's still not perfect, but it's definitely happening.

[leonardratso]

3 hours ago, geordie_lurch said:

My cheap dual fuel fix ends soon so I stuck an extra 30% usage on my latest non smart meter readings I have to send them every quarter to pre pay at the cheaper rate

i did this when mine ran out, but then when the next reading became due i hadnt even made it to where i said i was last one so i just added a small arbitrary amount to what i said last time, it will eventually surpass what im telling them but until then i have to always check last one to make sure im not going backwards and they owe me hahahhaa,

[belfastchild]

Just now, JimmyTheBruce said:

If you've ever logged on to the HMRC gateway, you can see that they are linking you to your accounts with private banks.  It's still not perfect, but it's definitely happening.

If UC is run by HMRC then they should have links.
I wouldnt have said that before this year but when I did self assessment this year they had my pension details in there already. (first year of drawing pension so might have had that before this).

Saying that though they still had the boxes for interest from savings/shares. Ive nothing now outside of house, ISAs, pension and premium bonds so if they go digital currency.

If only all that cash, euros, gold and silver hadnt fallen off my boat...

[Hancock]

13 minutes ago, Agent ZigZag said:

I dont think they do. I view the system as being built on fear. Fear of being caught, fear of being fined etc. As long as you dont take the mickey I reckon you can get away with most things

But gone are the days when you could get your mate to go and sign on for you!

[Gin]

I was on the phone to HMRC a decade ago and I realised they knew I had just taken a small mortgage out. , and for how much .

Their systems will red flag anomalies comparing your income to big ticket items such as that 4x4 with the £600 road tax per year or a house purchase yet low income etc . ?

As long as you don`t take the proverbial though it can be managed but it is becoming more difficult every year . It really is 1984 .

[Bricormortis]

Gold has gone through $1834 resistance, $1847 now, I will be watching how it closes Friday / Monday.

[Hancock]

1 hour ago, belfastchild said:

If UC is run by HMRC then they should have links.
I wouldnt have said that before this year but when I did self assessment this year they had my pension details in there already. (first year of drawing pension so might have had that before this).

Saying that though they still had the boxes for interest from savings/shares. Ive nothing now outside of house, ISAs, pension and premium bonds so if they go digital currency.

If only all that cash, euros, gold and silver hadnt fallen off my boat...

Couldnt you N Irish, just emigrate to the south ... fill out the appropriate forms for HMRC that you're a non resident.

Now i realise you'd the only be allowed to spend 90 days in the UK, but how would they know .. unless of course they bring back border checks!

[HousePriceMania]

9 minutes ago, Bricormortis said:

Gold has gone through $1834 resistance, $1847 now, I will be watching how it closes Friday / Monday.

Any idea why

 

 

 

 

[feed]

US inflation at 6.2% in October

https://www.teletrader.com/us-inflation-at-6-2-in-october/news/details/56716041?internal=1

The Consumer Price Index (CPI) for all items in the United States rose by 0.9% in October in comparison to the same period the year before, beating market expectations, the US Bureau of Labor Statistics revealed in its report published on Wednesday.

On a monthly level, the figure went up by 0.9%, also exceeding analysts' projections.

The expansion was pushed by growths in various sectors, most notably energy, shelter, food, used cars and trucks, and new vehicles. The prices of energy saw a monthly increase of 4.8%, with the fees for gasoline going up by 6.1%. The costs of food gained 0.9%. Meanwhile, the index for all items less food and energy advanced by 0.6% month-on-month.

 

[HousePriceMania]

6 minutes ago, feed said:

US inflation at 6.2% in October

https://www.teletrader.com/us-inflation-at-6-2-in-october/news/details/56716041?internal=1

The Consumer Price Index (CPI) for all items in the United States rose by 0.9% in October in comparison to the same period the year before, beating market expectations, the US Bureau of Labor Statistics revealed in its report published on Wednesday.

On a monthly level, the figure went up by 0.9%, also exceeding analysts' projections.

The expansion was pushed by growths in various sectors, most notably energy, shelter, food, used cars and trucks, and new vehicles. The prices of energy saw a monthly increase of 4.8%, with the fees for gasoline going up by 6.1%. The costs of food gained 0.9%. Meanwhile, the index for all items less food and energy advanced by 0.6% month-on-month.

 

How can they not now taper and raise rates ?

 

oh, I forgot, they are corrupt criminals.

[DurhamBorn]

1 minute ago, feed said:

US inflation at 6.2% in October

https://www.teletrader.com/us-inflation-at-6-2-in-october/news/details/56716041?internal=1

The Consumer Price Index (CPI) for all items in the United States rose by 0.9% in October in comparison to the same period the year before, beating market expectations, the US Bureau of Labor Statistics revealed in its report published on Wednesday.

On a monthly level, the figure went up by 0.9%, also exceeding analysts' projections.

The expansion was pushed by growths in various sectors, most notably energy, shelter, food, used cars and trucks, and new vehicles. The prices of energy saw a monthly increase of 4.8%, with the fees for gasoline going up by 6.1%. The costs of food gained 0.9%. Meanwhile, the index for all items less food and energy advanced by 0.6% month-on-month.

 

Nice to see my inflation targets hitting now,inked 3 years ago before this happened based on how much i thought they needed to print back to cover the dis-inflation.We are actually ahead of what i thought as i had it more back ended,so we are getting more now less later,or i was understating and my 62% cycle inflation compounded is too low.I think it still looks good though.Notice the telcos have all started going up,some a lot like in Brasil,others creeping forward in Europe.

[ThoughtCriminal]

1 minute ago, DurhamBorn said:

Nice to see my inflation targets hitting now,inked 3 years ago before this happened based on how much i thought they needed to print back to cover the dis-inflation.We are actually ahead of what i thought as i had it more back ended,so we are getting more now less later,or i was understating and my 62% cycle inflation compounded is too low.I think it still looks good though.Notice the telcos have all started going up,some a lot like in Brasil,others creeping forward in Europe.

Well they're talking about replacing Powell with someone more willing to let rip with QE, so im calling it: DB was too cautious 😂

 

On a serious note though, what a fucking shit show we're entering into here. 

[Harley]

4 hours ago, jamtomorrow said:

Makes me wonder:

1/ how they'll go about finding anyone decent to work on it (per recent discussions on this thread about the quality of public sector technocrats in other fields). Like, if you're already in blockchain and you're any good, why on earth would you want to go and work for the enemy?

....

Exactly.  It will be a public/private partnership (it already is to some extent) with the private taking a slice (like the pharmas are lining up to do).  Pure corporatism/fascism.  Mr Robot style.

[MvR]

12 minutes ago, DurhamBorn said:

Nice to see my inflation targets hitting now,inked 3 years ago before this happened based on how much i thought they needed to print back to cover the dis-inflation.We are actually ahead of what i thought as i had it more back ended,so we are getting more now less later,or i was understating and my 62% cycle inflation compounded is too low.I think it still looks good though.Notice the telcos have all started going up,some a lot like in Brasil,others creeping forward in Europe.

I was wondering why PMs just spiked up.. now I know!

[Harley]

3 hours ago, HousePriceMania said:

You are correct.  The bankers have been deregulated, they will take everything then collapse the system.

At that point they'll be re-regulated and/or have caused a war, 10s of millions, billions even could be dead, everyone will be skint and they'll be sat on their private islands snorting coke from a prostitutes arse cheeks. 

It's Corporatism/Fascism, take your esoteric pick of definition.  The State (all, not just the polos) merged with big business.  Look at COVID, climate change, the recent massive roll call of MPs on private sector bennies, civil servants on boards, funded think tanks promoting/setting policy, the power of the third sector, the socialisation, the jobs, books, and speaking engagements in retirement,......

[HousePriceMania]

Im going to buy some barrick and Yamana gold shares today, any other suggestions, this insanity is going to get worse so want some as a hedge

[Harley]

2 hours ago, AlfredTheLittle said:

.....keep people consuming to keep the economy moving ( which obviously is the opposite of what they claim they want to do for the environment

No conflict.  Debt fuellled consumption growth is over.  The plebs are no longer needed.  The environment, fake or not, is the new driver for growth and only the State and big business can slay that dragon.  Indeed, we are now part of the problem, not its consuming solution.

[Harley]

9 minutes ago, MvR said:

I was wondering why PMs just spiked up.. now I know!

Technically, a high probability expectation.  The news follows.

[Harley]

2 hours ago, Cattle Prod said:

If you have an independent source of income, you are free, and the state has to work for you. If your source of income comes from the state, you work for the state; whether you know it or not, you are a slave. So of course they want more slaves, and less clients.

Peversely, it's called the "client state" for a reason!