Email from: Stephen Williamson
Sent: Wednesday, 18 September 2013 2:02 PM
Subject: Thanks for the chat, Tim :-)

Hi Tim, Hi everyone

Yes, thanks for the chat Tim. Here's that page below, tracking inflation, firstly in Britain, next in the US (in comparison with Australia). I've shared this page before, I've made a few adjustments recently. Appreciate all/any comments

But now with seven billion people in the world, and with all the many, many wealthy ones worldwide who are storing the $16 trillion in US Treasury notes and bonds as the basis of their current wealth, we are truly in uncharted territory at present.

Numerous prophecies and recommendations, but it's not simple stopping a juggernaut like this, regardless of the experts.

Blessings all :-) Steve

Extract from Forbes on Sep 20th: From QE1- Nov2008 through QE3- Sep2012 as of now the Federal Reserve has increased its balance sheet from $900 billion to * $3.7 trillion today. Here is a primer on the mechanics. The Fed currently purchases $40 billion in mortgage backed securities (private debt) and $45 billion in treasuries (govt bonds) each month. The Fed has no excess money or reserves … so they simply fire up the printing presses and print out of thin air $85 billion of new money each and every month. This is money that goes directly into the money supply. Nobody knows the ultimate denouement of money printing on this scale.
 
* Ended Oct2014 at $4½ trillion

 
But lower interest rates and increased inflation in "more hospitable yield environments" are inevitable.

Click here for the history of money, silver and gold, in scripture.

Click here for more info on today's banks.

Click here for Adam Creighton's recent reappraisal of Keynesian economics

Inflation over the past 2,000 years

where d=denarius or pence or cents, s=shilling (12 pence), £=Libra-pondo (240 pence).

30AD (time of Christ) 1d per day (i.e. one penny for working in a vineyard). It contained about 4 grams of silver and a Libra-pondo (240 drachma or 1/60th of a talent) in Israel was thus just under one kilogram.

By 250 AD, this level of silver had dropped to zero. In 312 AD, Constantine issued a new gold coin, the solidus, and silver coin, the miliarense, and shifted the Roman capital to Constantinople (now Istanbul) in the east, with merchants being forbidden to use these coins outside the kingdom.

East of the Roman Empire was the Persian Empire, where silver and gold coinage was in abundance from trade with Rome, Arabia, China and India. These were drachma coins, later called dirhams, still with 3½ to 4 grams of silver, and issued from their capital at Ctesiphon, (near ancient Babylon and close to modern day Baghdad). Click here for a brief ten-page history of the world (with hyperlinks) as the Muslim caliphates took power.

And with the lack of access to coinage in the west, numerous trade agreements vanished. Invasions by Goths, Vandals, Huns, Lombards and Vikings followed, capturing slaves which they traded for Eastern silver. But at the same time, decentralised government, manorialism and monasteries sprang up everywhere.

790 AD King Offa of Mercia in England joins forces with Charlemagne in France. With a silver mint having been established at Dorestad on the Rhine with access to a significant quantity of silver, the penny (pfennig) was reintroduced at a set weight of just under 1½ grams of silver. The standard £ Libra-pondo (later known in England as the Tower-weight or Tower-pound) of 240 pennies contained about 350 grams or exactly 12 "tower" ounces in silver. The tower system was referenced to a standard prototype found in the Tower of London.

See this page for a family timeline of daily wages from 1261 - 1780.

1261 Tuppence or 2 silver pennies per day. Halfpennies and farthings are also now in production with a proportional level of silver. Note that with the prices for goods on the continent requiring less silver, the level of silver in the penny at times could be reduced to as low as 1.3 grams, though any reduction produced considerable complaints. English coins were much envied in Europe for their weight and good metal content, with English halfpennies being copied on the continent.
For further background to what was happening over there, click here for the gold florin, issued originally from Florence in 1252.

1351 Threepence or 3 silver pennies per day.

1401 Fourpence per day. In 1412, the level of silver in the penny is reduced to about 1.0 gram.

1541 6½d (Sixpence ha'penny) per day, the rise of Protestantism opposed to the Holy Roman Empire, in 1568-1648 the 80 years war between Roman Catholic Spain and its Protestant Dutch provinces, then almost all of Europe, Russia and Turkey in the East joining one side or the other, considerable instability, shortage of labour and silver. In 1544 Henry VIII reduced the content of silver in the penny to one-third, with two-thirds becoming copper. His children Edward, Mary and particularly Elizabeth restored the silver, but to a level of ½ a gram. Many new denominations are introduced: shillings, sixpences and threepences containing 6 grams, 3 grams and 1½ grams of silver respectively. And the crown, a large five shilling piece at 30 grams, based on the troy ounce, competitively weighing slightly more than the newly released Spanish dollar at 27 grams, to become the basis of a coming US dollar click here for further details.

1583 8½d (Eightpence ha'penny) per day. Halfpennies and farthings now become copper in content, and legal tender up to the value of sixpence.

1640 10d (Tenpence) per day

1780 18d (One shilling and sixpence) per day — inflation starts to take off. What with the French seven year war 1756-1763, the American Revolution in 1776, the French Revolution in 1789 and the rise of Napoleon, there is considerable instability, a shortage of labour and silver, with paper money having to be printed to pay government wages and expenses. When pennies do end up getting reminted, their content is now all copper and the basic silver coin becomes the threepence.

1865 Three shillings and ninepence per day click here was the wage for a common labourer in London working a 10 hour day and a six day week.

This period also saw the rise of income tax as a taxation measure. Prior to this, invading a neighbouring country, bribes, extortion, customs duties, sales taxes on certain goods (e.g. alcoholic beverages) and property taxes (based on, say, number of windows) were the main sources of income for governments. Click on each country to see some of its income tax background.
America   Britain   France   Germany   Italy   Russia   Japan   India   China   Australia

Now over to Australia (while tracking US Govt Debt/Investment/Printing of Paper Bonds)

With Australian federation in 1901, each state enacted "early closing time" legislation for shops and factories that set working hours at a maximum of 8 hours per day.

In 1907, the Commonwealth of Australia established the "basic minimum wage" at two pounds and two shillings (42 shillings) per week for unskilled full-time workers, 21 years and older.

In 1910, the Australian pound note and shilling was issued for the first time, pegged to the UK currency. £1 contained 7.32 grams of fine gold and 1 shilling contained about 6 grams of sterling silver. After World War One and the Great Depression of 1929-1930, the peg between our currencies was dropped. In 1931 it was reapplied at 80% of the value of the UK currency. The US dollar contained about 24 grams of silver, and in 1931 £1 UK was valued at about $US5.00, and thus £1 AU was valued at $US4.00.

In 1940, the UK currency devalued against the US to 80% of its value, where £1 UK = $US4.00
In 1949 it devalued to about 70% of that value, where £1 UK = $US2.80.
The Australian currency followed suit and so in 1949, £1 AU was worth $US2.24.
In 1966 ten shillings, the value of our new dollar, was worth $US1.12. Since that time we have either been fixed or floating, in line with the US dollar.

Click here for a second graph, showing the US dollar against the Swiss Franc since WW2. The Franc's stability for many years in relation to gold valued it at 19 US cents after WW1 and at 23 US cents after WW2. In 2020 it is just above par with the US dollar.

Click here to view the following as a separate page

AU Wages Timeline 1788-2020

AU Wages Timeline 1788-2020 compared with US Debt

Australia Basic Wage
Fair Work Commission   Wikipedia
State Library Victoria

Fair Work Australia Youth U16 36.8%   16yrs 47.3%   17yrs 57.8%   18yrs 68.3%   19yrs 82.5%   20yrs 97.7% Adult

US Govt Debt
US Treasury
1788 One shilling and sixpence per day$70 million
1835$33 thousand its lowest ever
1865 Farm Labourer two shillings and sixpence per day
Carpenter 10 shillings per day
$2 billion
following American Civil War
1907 Seven shillings per day or £2.2.0 per week
Basic Award to support a "man, his wife, and three children"
$2 billion
1922 £4.10.0 per week with widespread price rises following the First World War
Paper money (i.e. a promise backed by 80 tonnes in gold reserves) had become all the rage following the Australian Notes Act of 1910 enabling banknotes issued via Australian Govt Treasury and cancelling those more fallible banknotes of individual banks
$25 billion, through the enormous expenditure of First World War and the setting up of the League of Nations
1928 £4.9.6 per week$18 billion
1930 £3.1.1 per week during the Great Depression
The 6 day week became a 5½ day (44 hour) week
In 1935 the Printers Union wins one week of paid leave
Drops to $16 billion in 1930
then rapidly increases under Roosevelt's "New Deal"
1938 £4.1.0 per week$40 billion
1946 £5.0.0 per week
In 1945 the Annual Holidays Act provides two weeks of paid leave
$250 billion due to WW2, followed by the US setting up United Nations and providing help to West Germany, Japan, South Korea, other economies worldwide
1947 £7.2.0 per week
In 1948 the 5 day week introduced
 
1950 £8.2.0 per week 
1953 £11.16.0 per week with considerable inflation following the Second World War
Between 1951-1955 Qld, NSW and Victoria passed legislation granting 13 weeks long service leave to all employees with 15 years or more service, a benefit unique to Australia
 
1960 £13.16.0 per week$300 billion
1961 £14.8.0 per week
In 1963 Commonwealth Industrial Court adopts three weeks paid leave
 
1966 $32.80 (£16.8.0) per week
In 1966, the AU dollar was launched, worth 10 shillings
 
1967 $40 (£20) per week ($1.00 per hour) 
1969 $54 per week
In October 1968 the minimum hourly wage was $1.35
$350 billion

In 1971, President Nixon cancelled the fixed US dollar to gold exchange rate (since 1934 at US$35 per ounce)

Click here for our experience in Australia with Gough Whitlam's "seat of the pants" government Dec 1972 - Nov 1975. Free Universities, Free Medical, wow.

Australia Basic WageUS Govt Debt
1972 $80 per week
In 1974 four weeks paid leave plus 17½% loading
$450 billion
1976 $102 per week
Wages have tripled over 10 years through "stagflation"
$620 billion
1978 $120.80 per week $770 billion
1980 $134.80 per week
In 1983 the 38 hour week introduced
$1 trillion
1987 $178.24 per week  
1990 $214.49 per week$3 trillion
1995 $284.45 per week  
1997 $359.40 per week  
2000 $400.40 per week$6 trillion
2010 $569.90 per week$10 trillion
2020 $753.80 per week, & from July 1st 2021 $772.60 per week arguably the highest in the world, plus 9½% compulsory superannuation going to 10% on July 1st 2021$22 going on $27 trillion
caused by COVID-19

So in 2020, $753.80 (or $150.76) per day which is 215 times the seven shillings daily wage of 1907. A fair increase in inflation over these 113 years. At that 215 fold rate of increase, and accelerating another 44 times as this was the acceleration factor over the 4.67 increase that occurred between 1780 and 1907, by 2130 we could all be earning over $1 million per day.

Not bad .

Yes, at these times, may we keep our eye on the Lord. Let our eye be single, having "dove's eyes".

** End of article

Click here to view the following as a separate page

Mammon

Thoughts on Mammon

Below are two lists based on the IMF List 2018 - 2021 of debtor and creditor nations by Net international investment position.

What it does is take the total external financial assets (Cash, stocks, bonds, mutual funds, and bank deposits) by a country's legal residents, then subtracts the total external liabilities, both public and private.
In the US, their latest report in December 2020 showed assets totalling $32.16 trillion, and liabilities $46.25 trillion, a nett figure in the red of $14.09 trillion.

1. The 28 creditor nations listed in US$ are

  1. Japan on $3.721 trillion in 2020
  2. Germany on $2.870 trillion in 2020
  3. Hong Kong on $2.153 trillion in 2020
  4. China on $2.150 trillion in 2020
  5. Taiwan on $1.343 trillion in 2019
  6. Norway on $1.144 trillion in 2020
  7. Netherlands on $1.125 trillion in 2020
  8. Canada on $1.058 trillion in 2020
  9. Singapore on $1.047 trillion in 2020
  10. Switzerland on $752 billion in 2020
  11. Saudi Arabia on $623 billion in 2020
  12. Russia on $505 billion in 2020
  13. South Korea on $440 billion in 2020
  14. Belgium on $249 billion in 2020
  15. Denmark on $236 billion in 2020
  16. Israel on $196 billion in 2020
  17. Argentina on $122 billion in 2020
  18. South Africa on $109 billion in 2020
  19. Sweden on $108 billion in 2020
  20. Kuwait on $96 billion in 2020
  21. Thailand on $55 billion in 2020
  22. Austria on $51 billion in 2020
  23. Luxembourg on $38 billion in 2020
  24. Italy on $37 billion in 2020
  25. Uzbekistan on $20 billion in 2020
  26. Malaysia on $20 billion in 2020
  27. Malta on $9 billion in 2020
  28. Iceland on $8 billion in 2020

Totalling $ trillion


2. The 53 debtor nations listed in US$ are

  1. USA on $14.092 trillion in 2020
  2. Spain on $1.160 trillion in 2020
  3. United Kingdom on $858 billion in 2020
  4. France on $747 billion in 2020
  5. Australia on $730 billion in 2020
  6. Ireland on $706 billion in 2020
  7. Mexico on $590 billion in 2020
  8. Turkey on $403 billion in 2020
  9. Brazil on $390 billion in 2020
  10. India on $379 billion in 2021
  11. Greece on $359 billion in 2020
  12. Indonesia on $281 billion in 2020
  13. Poland on $274 billion in 2020
  14. Portugal on $262 billion in 2020
  15. Egypt on $194 billion in 2020
  16. Colombia on $175 billion in 2020
  17. New Zealand on $128 billion in 2020
  18. Romania on $126 billion in 2020
  19. Pakistan on $120 billion in 2020
  20. Peru on $86 billion in 2020
  21. Nigeria on $85 billion in 2020
  22. Sudan on $85 billion in 2018
  23. Hungary on $76 billion in 2020
  24. Slovakia on $74 billion in 2020
  25. Kazakhstan on $70 billion in 2020
  26. Panama on $64 billion in 2020
  27. Tunisia on $64 billion in 2019
  28. Mozambique on $59 billion in 2020
  29. Serbia on $52 billion in 2020
  30. Bangladesh on $44 billion in 2020
  31. Mongolia on $37 billion in 2020
  32. Cyprus on $36 billion in 2020
  33. Chile on $35 billion in 2020
  34. Czech Republic on $33 billion in 2020
  35. Croatia on $32 billion in 2020
  36. Belarus on $31 billion in 2020
  37. Zambia on $28 billion in 2020
  38. Cambodia on $21 billion in 2020
  39. Ukraine on $21 billion in 2020
  40. Bulgaria on $21 billion in 2020
  41. Philippines on $20 billion in 2020
  42. Republic of Congo on $20 billion in 2018
  43. Uganda on $19 billion in 2019
  44. Nicaragua on $14 billion in 2020
  45. Latvia on $13 billion in 2020
  46. Armenia on $10 billion in 2020
  47. Lithuania on $9 billion in 2020
  48. Slovenia on $9 billion in 2020
  49. Albania on $9 billion in 2020
  50. Montenegro on $9 billion in 2018
  51. Estonia on $7 billion in 2020
  52. Finland on $6 billion in 2020
  53. Bhutan on $2 billion in 2020

Totalling $ trillion

Note the discrepancy of $2.890 trillion between dollars invested (mostly in the US) by creditor nations, and dollars in debt by debtor nations, can be (at least partially) accounted for by the different accounting systems in place. Secrets.

Some funding doubtless came from the International Monetary Fund, the World Bank, and the Bank for International Settlements.

At March 31 2021, this report showed the amount owing to the IMF from their General Resources Account (GRA) and Poverty Reduction and Growth Trust (PRGT) was 102 billion SDRs (about $145 billion) with the SDR currently worth $US 1.43.
The World Bank reported $600 billion in total assets in four entities (IBRD, IDA, IFC, MIGA).
And at March 31 2020, this BIS report showed 55 billion SDRs (about $78 billion) owing in Loans and advances.

Regarding Australia's debtor nation status in fifth position, ever since we were first settled we've relied on other countries to invest in us to help us get going. And our public service has always been somewhat top heavy.
See a recent chart below for how much we are individually and corporately in debt to "managed funds" (in Australia as well as overseas).

Mammon and Babylon — Matthew 6:19-24   Luke 16:1-13   Revelation 17:1-5   Zechariah 5:1-11

Revelation 17:5 And upon her forehead was a name written, MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS (foul stenches) OF THE EARTH.

Click here re the Four Horsemen, Simon the Pharisee, Judas, and Paul's attitude to taking up a collection.

Click here re the History of Money and click here re the History of Inflation.

On May 28, 2014 6:49 PM, "Stephen Williamson" wrote:

Subject: Chatting about mammon - the great "mamma" this morning :-)

Ok Australia's Federal Net debt in bonds is now about $270 billion
$492 billion in June 2020

Total State and Territory debt in bonds about $230 billion
Private company debt in bonds about $720 billion
So, bonds investment: $1.22 trillion

Total private housing debt about $870 billion
Total investment housing debt about $410 billion
So, housing: $1.28 trillion

Private credit card debt and personal borrowings $140 billion
Private company borrowings from banks, etc about $730 billion
So, other borrowings: .87 trillion

Total Australian Debt $3.37 trillion, roughly, in May 2013 click here

So who is in the black?

Various Australian Managed Funds (excluding "cross-investments") — superannuation (about 75% of the total),
public unit trusts&life insurance (about 25% of the total)
ABS Link: $2.3 trillion
$3.2 trillion in March 2021
$2.3 trillion
Gross: Overseas investors (in Australian currency)
DFAT Link: $3.2 trillion
$3.8 trillion in 2019 click here for a recent AFR article
 
less: Australian investors (in overseas currency)
DFAT Link: $2.2 trillion
$2.9 trillion in 2019
 
Nett from Overseas Investment
ABS Link: $1.0 trillion
$1.0 trillion
Leaving a balance, roughly, for banks and other investors in Australia to supply:$70 billion
Total:$3.37 trillion

Yep, we've relied hugely on overseas investment since 1788 — starting with those famous IOU's written in 1793 for 7,500 bottles of overseas rum, authorized by the British Regiment's Paymaster — but with so much now available in our own superannuation and insurance and trust funds, the percentage of nett overseas investment has actually dropped.

So, while Mr Abbott and Mr Hockey are doubtless wise in endeavouring to, very gradually, reduce the $300 billion owing in federal bonds, those other figures do help to bring it all into a better perspective, with all the shouting that's going on.

Thank you Lord, yes, to rest in you, to look to you, our loving heavenly Father, for each coming day's needs.

"give us day by day, the bread for each coming day" as several translations put it.

Blessings all :-) Steve

And at the end of the day, as the scripture says, each one of us has to bear his own load, whether as individuals, company directors or politicians. Ahh the Lord knows.


Now the following email has had its figures adjusted to reflect some of the latest stats in 2021.

Note its use of the word "currency" is as follows:

1. M0 (including MB): Banknotes and coins in circulation and in bank vaults and in ATMs, plus the additional exchange settlement banking reserves in gold and government bonds that have been deposited by individual banks in their Reserve Bank. According to these links this is a small amount relatively speaking, in Australia it's about $265 billion, in the US it's about $5½ trillion.

2. M1: Currency in customers "pockets" outside the bank vaults, plus on demand cheque and savings bank deposits. In Australia it's about $1.4 trillion, in the US about $18 trillion.

3. M2 and M3: All deposits (including M1) via managed funds in banks and money markets, a much larger figure. In Australia it's about $2.4 trillion — while the US Federal Reserve only reports M2, which is M1 + near deposits, about $20 trillion.

The figures below are estimates only.

On July 20, 2013 3:42 PM, "Stephen Williamson" wrote:
Subject: Where's all the money :-)

Hi all

With computers, we're certainly a long way from the gold / silver standard the world used for thousands of years. Again, appreciate any feedback.

A brief summary of regions with liquid assets and liabilities – a very, very rough picture 

RegionGross AssetsDebtNett
North America (USA and Canada)€79 trillion€15 trillion€64 trillion
Latin America€3½ trillion€1 trillion€2½ trillion
Western Europe€36 trillion€11 trillion€25 trillion
Eastern Europe (includes Turkey and Russia)€2½ trillion€1 trillion€1½ trillion
Asia (includes Israel)€47 trillion€12 trillion€35 trillion
Australia and New Zealand€3.758 trillion€1.633 trillion€2.125 trillion

Allianz
This table (click here for a full list of countries) is based on each region's gross financial household assets measured in euros by Allianz – currency stocks and bonds at current market values, with a separate column for debt, including mortgage debt. Total gross assets equals €172 trillion. Nett assets €130 trillion.
Its list of countries does not include Africa or the Middle East (other than Turkey, Israel and South Africa).
In Australia perhaps 90% of total debt is property loans, however current house and land values are not included in Gross Assets.

Credit Suisse
Click here for a full list of countries (including Africa and Middle East) showing Total Net Wealth (assets less liabilities) in US dollars by Credit Suisse US $114 trillion China $64 trillion Australia $7 trillion.
In contrast with Allianz it includes Non-Financial private assets, mostly House and Land at current values. Total wealth overall equals $US360 trillion.
Click here to view the Credit Suisse report as a PDF file.

 

Finally, Australian Households Total Net Wealth, including current house and land values (in AU dollars) is $AU 10 trillion, spread over 10 million households. An average net wealth of $AU 1 million per household, with the Australian Federal Government having a AAA credit rating worldwide.


From: chris Turner
Sent: Sunday, July 21, 2013 11:47 AM

steve
how would the us and uk gold reserves affect these figures?
chris

 

Click here for a history of the world's gold reserves by country over the past 170 years.

From: Stephen Williamson
Sent: Sunday, July 21, 2013 6:14 PM

Hi Chris

I didn't take account of it. The US records theirs as 8,000 tonnes at a book value of $35 an ounce, about $9 or $10 billion dollars, but that's very theoretical, its true market value may be closer to $350 billion if they were to exchange any of it. But still it's a lot less than $1 trillion.

It is more than any other one country, but apparently they haven't touched it for ages. So it's very minimal.

Now, with regard to the foreign exchange reserve assets held by each country's banks, it's a pretty small amount, a total of about **7 trillion dollars all up worldwide, 65% are now held simply in US dollar paper, 25% in euro paper, and the last 10% in that IMF animal which the Chinese like, a basket of currencies which the IMF call "special drawing rights" (and some UK pounds, Japanese yen, and only a very tiny amount in gold, yes, and other precious metals).

**Though in June 2014, this figure was increased/corrected to almost 12 trillion dollars.

https://en.wikipedia.org/wiki/List of countries by foreign-exchange reserves

Some further thoughts.

Hmm, so ok, back in 1944, the UK didn't have much, but the US gold reserves and the Bretton Woods political agreement certainly gave the US government back then a massive leading edge:

Firstly in taking charge of winning the war, and

Secondly in assisting countries like Japan, South Korea, Germany, etc to recover.

And also helping Israel become a nation. Simply by printing the paper to underwrite the loans, and also in providing military help to help the governments rebuild their economies.

Of course it meant the US Govt was going massively into debt, from about $16 billion in 1930 to about $250 billion by 1950.

Mostly everyone else was happy to let them do it, though Mr Stalin in particular wasn't too pleased at the edge it gave the US politically. And numerous Islamic countries got very cranky, as Israel, as a political entity, didn't align with that worldview recorded in the Koran. Very emotionally upsetting for many of their leaders and preachers.

And a lot of US people weren't too pleased either, at how their generosity was being repaid, both in the press, and in numerous new wars. So, of course, since 1971, when the US decided to stop allowing foreign governments to exchange US paper dollar reserves any further at that cheap price of $35 an ounce, a price that was by then far, far too low from the market's point of view, yes, I think the rules have changed enormously.

So, to sum up, yes, gold reserves look good on paper, having a lot, back in 1971 when countries everywhere acknowledged that gold standard, (and were happy to make a profit at the US's expense), but according to that article above, it would indicate that gold holdings now have historical significance only.

Interestingly, it's been dropping heaps in price just recently, there's a lot of worried people out there wanting to put their money somewhere else.

Blessings Steve

From: chris Turner
Sent: Monday, July 22, 2013 7:26 PM

Hi Steve

For thought...The 2 major governmental assets are 1/tax's and 2/ crown land. I am not sure if the nations books include these amount.(I think not ).more food for thought

Chris

From: Stephen Williamson
Sent: Monday, July 22, 2013 9:19 PM
Subject: Re: Where's all the money :-) and future tax income and crown land

Hi Chris

Yes you're right, neither are included, I did think about it a fair bit, but of course it's present day value could be argued about "ad infinitum" :-). And there's also all that physical infrastructure (buildings and land) and non-monetary assets that are owned outright by each country, collectively. But of course that generally ends up costing money. Part of our responsibilities before the Lord, hey :-)

But coming back to your point about the government, with the US government printing bonds as freely as they are at present, I thought they were useful figures, currently they've printed $16 trillion in US bonds, and they're currently printing $85 billion in extra money every month, calling it "quantitative easing". So I guess that's based on that potential future income.

From: chris Turner
Sent: Monday, July 22, 2013 9:31 PM

Hi Steve
Enjoyed this report.I am a believer in diligently knowing the state of your flocks as proverbs declares.I am also learning to improve my skills in sustainably managing debt and income.
Regards
Chris

From: Stephen Williamson
Sent: Monday, July 22, 2013 10:09 PM
Subject: Thanks bro

Appreciate the encouragement ;-) Steve

Stephen Williamson Computing Services Pty Ltd
www.swcs.com.au/aboutus.asp

** End of article

 

Go back to top