The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Can anyone explain the consequences of the delisting please?
WO 163
Tin 47
If anyone is still keeping a tally of shareholding’s, I now have 3,220,00. Still not a big player compared to some but If we ever get to 1p I’ll be very happy with my return.
GLA
In normal times the B of E doesn’t issue our currency. See link below:
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Rather, 97% of £ is now issued by private banks as credit/loans. The remaining 3% is issued as cash - cash carries no interest/debt (a reason why there is a push for a cashless society) This means that 97% of £ carries debt/interest from inception. A low level of Inflation is deemed advantageous to those who issue our currency (for profit) as it allows the money supply to expand to cover the interest due.
In abnormal times (now) the central Bank will issue new money via QE or similar. QE is new money issued interest free. The £300 billion being offered today will be issued as loans; ie with interest attached. This will only continue to kick the already unsustainable debt burden further down the road.
Printing money only leads to inflation if the economy is at full capacity.
I don’t really want to pass any comment that may be misconstrued by any other posters.
I hold no ill will to anyone.
I reiterate, good luck to all - including me ??
TBC, I am Alfiedog on Twitter. I have no connection to any other posters on this BB
I am invested in Wres - 2.65 million shares- although not a big player.
Am I happy with my investment? No
Do I think wres will succeed - probably.
Do I think MM is a duplicitous little ****? Yes.
If he succeeds and I make money will I change my opinion? No. His handling of investor relations has been a master class in duplicity.
Wil I buy more shares? Maybe.
Good luck to all.
Good night.
... making the point that money should be a means of exchange, nothing more. If it created as credit it carries interest (debt) from inception. If it is subsequently loaned out again and again it does alter the fact that it is created as debt. Money should be issued interest free in order for it to be a benign medium. That’s it.
First of all I wasn’t “telling” you anything. Secondly, there is a common misconception among many (maybe not you) that government and central banks issue currency. The paper from the B of E dispels that myth.
Thirdly, I think you missed the point; I wasn’t referring to borrowing money or lending/ sending it here or there, I was making the pint that
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Only my second post ever. I hold 2 million shares in Wres so not a major player, however I feel I must respond to this comment.
Money is no longer created as you have stated. Please refer to the B of E quarterly bulletin q1 2014. Money today is issued as credit by private banks - mainly as mortgages. It is a myth to suggest that banks loan out deposits made by savers.
Today, 97% of UK M1 has been issued as credit - only the remaining 3% is issued as cash by the royal mint/ treasury.
All credit is interest laden debt ergo all money (except cash) carries interest/ debt from inception. In short, this means the harder we all work the faster the money circulates the deeper into debt we go. This in effect renders most politic debate between the left and the right somewhat futile.
This shouldn’t be confused with fractional reserve banking whereby deposits (created by savers) are loaned out on the multiple. Money today is created from nothing and then loaned our with interest added. There is now more interest due than money in circulation. This is a Ponzi scheme of unprecedented proportion.
I will post the link to the B of E paper shortly.