Re-Introduce the Death Penalty for Actions Contravening DPA 1998 & CCA 1974

[isuedlowellandwon]

With all the recent suicides from people regarding debt, how about re-introducing the death penalty for persons, agents, employees and officers of corporations as punishment of any of their actions being contrary to the Consumer Credit Act 1974 and Data Protection Act 1998.

 

We can complain about them to the OFT, Trading Standards (have them fined), Information Commissioner, Banking Ombudsman, FSA, sue them in the County Court, all to the end of the earth but the people in charge have endless supplies of fiat money created from thin air that any of the above actions has no effect on them.

 

Say yes or no with regards to your support of this and I will draft a white paper.

[tifo]

With all the recent suicides from people regarding debt, how about re-introducing the death penalty for persons, agents, employees and officers of corporations as punishment of any of their actions being contrary to the Consumer Credit Act 1974 and Data Protection Act 1998.

 

Say yes or no with regards to your support of this and I will draft a white paper.

 

well ... come on ....

[payingonlyencouragesthem]

"the people in charge have endless supplies of fiat money created from thin air that any of the above actions has no effect on them."

 

You've hit the nail on the head there - that's why companies like Cabot have sprung up from nowhere and started buying £100's of millions worth of distressed debt. Unfortunately I doubt your white paper would get far, especially since that fiat money also sponsors the main political parties. I think the way forward might be to use existing legislation to financially cripple these revolting companies in any way possible.

[Guest NATTIE]

title says it all, nonsense ridiculous and without justice. Leave the death penalty for serious offences.

[payingonlyencouragesthem]

I think it was meant to be a joke, Nattie.

[Guest NATTIE]

early mornings, need that caffeine boost, good job I didn't post what I was going to post otherwise it would have lead to a lynching

[rippedoffagain]

Ah, the first thread I have yet read mentioning fiat money, if only more people knew!

[Rhia]

What's fiat money? I take it it's nothing to do with family saloon car made in Italy

[tifo]

What's fiat money? I take it it's nothing to do with family saloon car made in Italy

 

Probably not ....

 

But what is 'fiat money' : Fiat money is so-called because it is not backed by any tangible asset such as gold or silver. The issuing government has decreed by fiat that "this money is a legal exchange medium, and it is worth what we say." So lacking a gold backing or backing of some other precious metal, what gives the currency value? Is there a special reserve somewhere? No. Some economists have tried to explain away the problems of fiat money by pointing to the vast wealth of the government in terms of productivity, natural resources, and land. But even if those assets are counted, they're not liquid. They're not part of the system of exchange. So in a way it is phoney money issued without any backing.

 

Government therefore has an unlimited supply of money, and through this the banks.

[demon_x_slash]

Oh, so that's why the PFIs are so eager to get contracts - it's 'fiat' money now, but turns into my money in twenty years' time...

[rippedoffagain]

Probably not ....

 

But what is 'fiat money' : Fiat money is so-called because it is not backed by any tangible asset such as gold or silver. The issuing government has decreed by fiat that "this money is a legal exchange medium, and it is worth what we say." So lacking a gold backing or backing of some other precious metal, what gives the currency value? Is there a special reserve somewhere? No. Some economists have tried to explain away the problems of fiat money by pointing to the vast wealth of the government in terms of productivity, natural resources, and land. But even if those assets are counted, they're not liquid. They're not part of the system of exchange. So in a way it is phoney money issued without any backing.

 

Government therefore has an unlimited supply of money, and through this the banks.

 

Except it is not issued by the Government, it is issued by the central bank, as debt. Google Bank of England, you wont find a .gov.uk website, it is a private corporation.

 

Inflation is measured by the amount of money in circulation, it is currently rising at 12% or more per year.