Cyprus-Forum.com

[Maximus]

Well if/when Britain invokes article 50 and when the northern part of Cyprus gets liberated, those Brits illegally occupying refugee property will have no right to stay in Cyprus.

If those fools ever knew what they were doing, they would not be living in the occupied part of Cyprus in the first place.

[Londonrake]

A recent poll over on the North Cyprus Free Press showed the majority of geriatric cheapskates, 55.7% voted for the Brexit camp.

The Turkish lira on June 22nd stood at 4.25 to the pound, it is now 3.85 , serves these senile old fools right since they are all pensioners and all out of pocket. It conclusively proves that the geriatrics voted to take the UK out of the EU using not their brains but their arses!

On average the UK pension is around £7500 per annum, on this figure the cheapskates are,.... losing currently over 3000 TL pa. or about 750 pound sterling per annum. Still they have their ....country back the silly sods!

Their life in the occupied parts will become somewhat more expensive, These senile old fools surely would have known that an exit result would affect their pensions.
Talking of pensions, my personal state and private pension amounts to around £16000 per annum, prior to the referendum at MMR this would amount to about 20800 euros, at todays MMR this now has been reduced to 19000 euros, a drop of 1800 euros per annum or just under 5 euros per day, or a bottle or two of Othello per day : Bastards, how dare they affect my wine consumption

I'm truly sorry about the Othello. We certainly have in that a common interest and meeting point.

Perhaps you should sit down for this.

As odd as it might sound there might - perhaps - just be the odd one or two geriatric, cheapskate, senile, old, foolish, arse for brains (my apologies if I missed any ) sorts that think the UK would be better off in the longer term by not being shackled to a monolithic European state which is taking on the appearance of crumbling around the edges (literally). It's a ridiculous concept I know but - just imagining here - they might be thinking that the world would ultimately be better for their kids/grandkids and that the current economic dislocation (much predicted by both sides) is a price worth paying?

I know, a silly idea. Some people really have no idea how to properly act selfishly.

[Paul ZKTV]

The rate will go down to 1.10 soon ,and anyone is made enought to do A50 1 for 1

We already have told people that our price is in EUROS and its up to them to put the correct amount in the Bank
in the North they pay us via our UK agent and they have to pay the amount ON THE DAY.
We also have changed our CURRENCY chart that is on our main page to UPDATE FOUR TIMES A DAY from DAILY ..

[miltiades]

Your average geriatric Sun reader of course despised the constrains enforced by the EU on the UK

The only driving force that made them cast their vote for Brexit was the nonsense about immigration, NHS benefits, taking our country back, in charge of our destiny and such other heavily used clichés. The same people who on going on holiday this year will be moaning about the amount of Euros they receive for their pounds or those that have retired in Spain and other EU countries such as Malta or Cyprus. Mate there is NO fool like a working class Sun reader. Remember the Sun's headline on " whoever leaves last turn the lights off " referring to Neil Kinnock in the elections of 1992. The British lower classes take the SUN as their gospel, Murdoch made sure of that.

[Robin Hood]

But this senile old fool knows his economics ...........

Maximus;

I made some money too.

I’m pleased for you, I wish I had that sort of money to gamble with.

Don’t forget that for every seller of pound there has to be a buyer too.

Not strictly true. If you took a short on (a bet) the anticipation it would fall, and it did, then the Institution (let’s say JP Morgan) would pay out for the loss because they didn’t think it would happen. If it didn’t drop you lose your stake.

But it did drop! You make £110m on the deal and it goes into your bank account. It has not entered the economy it has sort of been put ‘on the shelf in the bank with your name on it’. It only enters the economy when you spend it. If you use the money as more investments in stocks/bond markets/gold/property it has not entered the economy. It has gone into assets. Net result it has created no wealth ....... merely assets.

It works both ways, when the pound appreciates in value it benefits the people and the real economy on an international level, let’s take your typical expat who has retired abroad and receives a pension in pounds. When the pound is strong they get more bang for their buck when they exchange. Which directly benefits them through their purchasing power in the foreign country.

Absolutely correct. It only benefits people like me, where I have to convert my pounds every month into Euros to live. If the pound goes up, both me and Cyprus benefits, because I have got more Euros to spend into the economy. This month I lost but far less than you quote.

Another example, lets say for instance part of peoples pension funds are in the stock market. When speculators or traders push the value of these stocks up ( which they cant do all by themselves in most cases), it benefits the people. It generates wealth for them if they decide to cash in. Then, If these traders or market makers were not there, the markets would be less liquid and less competative. Meaning, that you could get a worse price for your investments on either the buy or the sell side.

It does not increase their wealth, it increases their assets. These are numbers on paper (computers) and change constantly ..... literally every second. The trading computers use algorithms to predict rises and falls within milli-seconds of the event and respond instantly. Again it is all numbers in computers, not wealth because these numbers are not part of the economy, they are assets. As you say when the guy draws out his pension and starts spending, then it becomes part of the economy.

So they do contribute something, they are there to buy or sell from you whenever you want and add much needed liquidity. Furthermore, their capital is available to business's so they can expand their operations. Which can generate growth and benefit the real economy.

What this system contributes to an economy is minimal.

When a share price rises it impacts a company in one way only, it increases its perceived (calculated) value and has no direct impact on the company’s operations. Market’s trade assets not wealth. This is why markets react instantly but you do not see such rapid changes in the real economy, because the real economy has a sort of kinetic energy which moves much more slowly. (I tried to explain this before but it went over their heads!)

The markets buy and sell assets. When a business needs money to expand its operations and create more jobs and thus more wealth it gets the necessary funds either by issuing more shares through ‘The Markets’ or by borrowing from the bank. Commercial banks not investment banks.

If it is a share issue, you will go to your broker, give him a pile of money and he will give you a receipt from the Company. Share Certificates which have no value on it, incidentally money they never pay back .......... you as the investor have given them that money .

There is a demand for these shares because it is a sound company ...... so the share (your receipt) is now a traded asset and rises in perceived value. This happens every time a new share issue enters the market’s, that is deemed a good bet. The markets dictate its initial value, then the demand decides its market value up or down, and this is inevitably done by computers. Then what you see is a rise in the markets .... if this is a FTSE 100 company and less directly if it is a much smaller entity.

If you borrow the money from a commercial bank (Investment banks don’t lend money, they play with it .... most often they win .... sometimes they don’t!)...... then you give your commercial banker your bond (an IOU) and put up some assets as collateral to secure the loan. The bank creates a credit account and you draw on that credit account and spend it into the economy. A bit like having a ‘super’ credit card account. But, for every pound you spend you have created both that amount of new money into the economy and an equal amount of debt to the bank. To repay the debt you have to take it out of the economy and give it back to the bank.

But where did the bank get the money from? The multi-trillion pound question!!!! The answer is ..... they simply create it as a debt, they don’t lend money ..... banks never lend money ..... they create debt. The process is so simple it defies belief ..... but it is provable beyond any doubt.

That is why I say these banks create very little in the economy so, let the Germans move the casino (Investment) banks to Germany and we should get on with the rebuilding the UK economy based on wealth creation not casinos. Brexit has given the UK a unique opportunity but I feel we have no leader to implement the changes and set the pace. The UK, in fact the West in general do not have any real leader’s.

First job is to restructure the banking and financial system. But that is a whole new ball game and you need to understand the basics before the solution becomes obvious.

[Paul ZKTV]

But this senile old fool knows his economics ........... blah blah blah fuhrerbunker blah blah

tax.jpg

[miltiades]

Banks ...don't lend money???? Who lends money then, Wonga.com !!!
Banks do lend money, business need to borrow money and its to the banks that they look to for loans. I'm so glad I don't have an overdraft or a loan but there again I have ...no money!!

[Paul ZKTV]

Banks ...don't lend money???? Who lends money then, Wonga.com !!!
Banks do lend money, business need to borrow money and its to the banks that they look to for loans. I'm so glad I don't have an overdraft or a loan but there again I have ...no money!!

im lost what he is going on about - all my assets are dollers or euros

i think this says a lot
GOLD in metric tonnes
´EUtotal ´ 8,767
germany 3,381
IMF 2,814
france 2,451
italy 2,431
ECB 504
UK 310
leabnon 286


JAN-JULY
dollar to euro
93c to 89c (5%)

pound to dollar
1.47 to 1.32 (10%)

pound to euro
1.36 to 1.18 (13%)

so if the EURO is a lot of rubbish why has it not dropped like the pound ??

[Robin Hood]

Banks ...don't lend money???? Who lends money then, Wonga.com !!!
Banks do lend money, business need to borrow money and its to the banks that they look to for loans. I'm so glad I don't have an overdraft or a loan but there again I have ...no money!!

Banks do not lend money they give you credit, which creates a debt in your account. When a bank makes a loan, not a cent changes hands. Unbelievable but it is a FACT! (Look at the Positive Money' thread ......... should keep your mind occupied for a few days. All explained and plenty of links. If the Bank of England says that's what they do ..... then that alone should tell you it is true. Or maybe the BoE is run by a bunch of senile old fools as well?

It is because you believe fairy stories and you are not alone in that, far from it, that you have never bothered to work it out. The only 'real' money (Actually currency .... not money) i.e. paper notes, are produced by the Central bank ..... again out of nothing and they are backed by nothing of value since the 70's. That is why it is referred to as Fiat money.

98% of all the money in circulation, that is those numbers in your account, is debt. BUT ..... the banks see it on the books as an asset. It's a perpetuated illusion! Banks are no more than an accounting system, that also fills ATM's .... well, at the moment they do. You criticise us old fools for being stupid enough to vote for leaving the EU .... but it does not even enter your mind that maybe THEY actually know a lot more than you do. You were as much a mug for believing the 'remain' crowd, just as much as those that believed the 'exit' crowd. I believed neither!

I support the result as the right decision but for the wrong reason.

[miltiades]

Robin, now you are being ridiculous, If I ask my bank for a loan the bank gives me MONEY, not credit. I can take all of my loan in hard cash and buy as much wine as I would like.