William McGonagall says:
October 1 2016 at 8:50 am
That’s a good review. I like the rhythm of the piece and the transition from the early stanza about their dedication to undermining the rule of law to the middle paragraph about their activities being formally legal.
Another sweet poetic transition is ‘meeting the perceived needs of the ultra-wealthy’ who we later learn in the context of the BVI cannot lay their hands on that wealth. What sort of customer would pay for a service like that? There must be some right idiots in the global 1%.

Richard Murphy says:
October 1 2016 at 11:15 am
Was that a good review of a good review?

I like that!

And on the other thread……

And then on the other other one:

Sue Dayton-Land says:
September 30 2016 at 3:58 pm
I am sure that I am missing something, but that leads to an interesting question, which is why not use QE to cancel the remaining 3/4 of UK debt ? Or is that an over-simplification ? As always, thanks in anticipation for your valuable work Richard.

Richard Murphy says:
September 30 2016 at 5:29 pm
We need debt to underpin pensions

Getting rid of UK national debt would firstly destroy our currency (which is national debt), bank security in the repo market which depends on it and the pension market which uses it as the basis for almost all annuities

They actually want there to be more debt right now

No national debt means no currency? What’s he been drinking?

20 thoughts on “Oh dear”

  1. “What’s he been drinking?”
    Well, he doesn’t seem to have touched the bottle of Paraquat I sent him.

  2. Was that a good review of a good review?
    I like that!

    The lack of awareness and self-awareness is staggering!

  3. No national debt means no currency?

    Well up to a point: holdings of physical currency involve exposure to sovereign risk.

  4. I must admit, I had to scratch my head a while before I got the second name…

    Epic trolling from all concerned.

  5. “No national debt means no currency? What’s he been drinking?”

    He’s been drinking the International Jew kool-aid. According to Ritchie, money is created by the Jews, sorry, banks by lending it out: debt is, in that weird, parallel universe where Nazi conspiracy theories rule instead of economics, the seed of money.

  6. When I was in Hong Kong they had a surplus and reserves of several years tax income – I don’t remember no money being available.

  7. Yeah, but jgh, doesn’t Hong Kong have a big cupboard with one greenback for every seven-or-so HKDs in circulation? So HK’s debt is to Fort Knox?

  8. “had to scratch my head a while before I got the second name…”

    I still haven’t, could you give a hint?

  9. Ah, so people’s QE aka money printing runs up the national debt. But i thought banks and governments could print limitless money for free? Isn’t that what Ritchie’s been selling for the last few months?

    This economics stuff is hard…

  10. Murphy has said many times that he “doesn’t suffer fools gladly”, which prompts the question how on earth does he manage to live with himself?

  11. “had to scratch my head a while before I got the second name…”

    Still scratching my head on William McGonagall and S Peter Swallow

    Ljh, please help

  12. Sorry, I never got beyond the point in Ritchienomics where Barclays manufacture a bazillion quadrillion dollars and buy up the rest of the world, then rent it out to 6 billion people, making all Barclays employees and shareholders multi billionaires.

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