Cyprus-Forum.com

[Paphitis]

More like a countdown to self destruction.
Albert was so right. Human stupidity is infinite.
The mighty euro will thrive the British pound will take a dive.

Better to have the Drachma and the Cyprus Pound.

Ever since the Euro, a symbol of Banking and Financial subjugation against Greece and Cyprus was introduced, their economies collapsed! Well what else would you expect?

[miltiades]

More like a countdown to self destruction.
Albert was so right. Human stupidity is infinite.
The mighty euro will thrive the British pound will take a dive.

Better to have the Drachma and the Cyprus Pound.

Ever since the Euro, a symbol of Banking and Financial subjugation against Greece and Cyprus was introduced, their economies collapsed! Well what else would you expect?

You are totally clueless. Best to keep to areas that you have some ? Limited, , knowledge
Such as being in d3bt is good for you

[Londonrake]

Actually, rising currency values often bring their own problems. Not that the £ couldn’t do with a small boost of course.

https://www.nytimes.com/2020/09/10/busi ... -euro.html

.

[Paphitis]

More like a countdown to self destruction.
Albert was so right. Human stupidity is infinite.
The mighty euro will thrive the British pound will take a dive.

Better to have the Drachma and the Cyprus Pound.

Ever since the Euro, a symbol of Banking and Financial subjugation against Greece and Cyprus was introduced, their economies collapsed! Well what else would you expect?

You are totally clueless. Best to keep to areas that you have some ? Limited, , knowledge
Such as being in d3bt is good for you

Rising debt means nothing and I’ve told you this many times.

Rising debt doesn’t mean you are going backwards especially in business or developing. Debts rise and rise and rise for many months and then take a massive fall and the cycle just keeps repeating.

In addition, you don’t seem to understand that if someone borrows money and buys property or some asset, their net position on the balance sheet is 0. It is a liability in one common and an asset in the other column. An asset that could be generating income too.

That’s why we have lines of credit with a bank. It’s a permanent credit card. You don’t start a project and work at a 7/11 to save your pennies to finish. It will never finish and time is money. So when you run out of liquidity, we use the Banks money, pay interest and finish our job and the quicker that’s done the quicker we can cash in. So yeh, debt is very very very very good and extremely important. I think it’s time to hand in your accountancy degree because it’s very very clear to me you are not smart enough to have it.

The only issue with debt comes with servicing the debt. Such as when you have too much of it without the revenue sources to service it. Then you have a problem but you also have a lot of time to fix it too. The other risk is over capitalising. Paying too much for your asset or spending too much money on your project, it only ever happened to me once and I lost 40k. Only once. That’s without factoring in rent which I never do anyway. Factor in rent and I was close to evens.

In addition, a falling currency isn’t an indication of an economist doing badly. If you ask the Germans, they want to devalue the Euro because they export goods. Ask Cyprus and they want a high Euro because they import goods.

And it’s easy for countries like the UK and Australia to devalue their currency at certain times when they are offloading millions of tonnes of resources and vice versa. Not so for an EU country.

Simplistic bozo..,

[Paphitis]

More like a countdown to self destruction.
Albert was so right. Human stupidity is infinite.
The mighty euro will thrive the British pound will take a dive.

Better to have the Drachma and the Cyprus Pound.

Ever since the Euro, a symbol of Banking and Financial subjugation against Greece and Cyprus was introduced, their economies collapsed! Well what else would you expect?

You are totally clueless. Best to keep to areas that you have some ? Limited, , knowledge
Such as being in d3bt is good for you

And just remember, just because you run out of liquidity, doesn’t mean you are short of cash. It just means your money is tied up in non liquid assets. You can’t just sell a property overnight to keep another project going.

But the Bank can lend you against your assets. Solves the problem. Without the Banks the entire global economy will be at a stand still. They fulfil an important role and keep us going. And sometimes pays contractors and suppliers. That’s for materials and wages. You don’t pay that and your out of business.

[miltiades]

I must have been very ....stupid to retire at 71and have ZERO debts and a few quid to last me until im 120 years old. What an ..idiot i must have been.

[Londonrake]

I must have been very ....stupid to retire at 71and have ZERO debts and a few quid to last me until im 120 years old. What an ..idiot i must have been.

Well, none of us are perfect. We all make mistakes Milti.

Merry Christmas (Bahh, Humbug!).

[miltiades]

I must have been very ....stupid to retire at 71and have ZERO debts and a few quid to last me until im 120 years old. What an ..idiot i must have been.

Well, none of us are perfect. We all make mistakes Milti.

Merry Christmas (Bahh, Humbug!).

Merry Christmasto you and your family C.
As my grandson has been ordered to self islotate because one of his teachers was diagnosed with the virus, I shall be having my Xmas lunch with my old mate Tim Drayton. Just the ...two of us

[Paphitis]

I must have been very ....stupid to retire at 71and have ZERO debts and a few quid to last me until im 120 years old. What an ..idiot i must have been.

I can retire now. But I won’t because I’ll be too bored.

And because I know how to make a living off my own back and I actually enjoy the creativity and working with the people I work with too. It isn’t just about money as I have more than enough to live a very comfortable life.

[Paphitis]

I must have been very ....stupid to retire at 71and have ZERO debts and a few quid to last me until im 120 years old. What an ..idiot i must have been.

Plus I’m not 71 and second when I’m 71 I’m hoping the children will continue as it’s all their’s anyway.

That’s the breath of all this. It doesn’t have to stop.

Each generation can provide for the next and keep building for the grand kids.

There is no greater think than your freedom and making your own luck in this world.

And here is something else. We also have super here in Australia. And mine will max out well before I’m 65.

Been putting 30K in it most years for tax and now 25k since the government reduced the threshold. Do you do the sums. And double it every 7 years.

Oh and I top my wife’s super as well to 30k and 25k as well.

Why? Because I save 20K in tax every year through tax credits.

So yeh, kids are gonna do alright when we are gone.