▲ 624 ▼ Netherlands moves 86 tonnes of gold from US and Canada to UK (www.euronews.com) submitted 5 days ago by Tango@piefed.ca to c/world@lemmy.world 136 comments fedilink hide all child comments The transfer was carried out partially by buying and selling and partly by physically transferring gold, the Dutch national bank said.
[–] HexesofVexes@lemmy.world 1 point 4 days ago (1 child) As in vulture capitalism, or something else. permalink fedilink source parent hideshow 2 child comments replies: [–] theneverfox@pawb.social 1 point 4 days ago As in the money in the UK is not freely flowing through the real economy, the one where money has a healthy velocity (eg the same pound flows from the carpenter to the baker to the electrician to the cafe worker and leaves everyone involved enriched by goods and services) Instead, the lion share of the money is tied up in London playing games with math. It's not even investments that create more economic activities... It's just making money on paper It means that while the GDP looks good on paper, the velocity of money continues to drop and the real economy is being starved It's also a severe problem in the US, but long story short, when the US economy pops the UK economy is going to also be thrown into chaos permalink fedilink source parent
[–] theneverfox@pawb.social 1 point 4 days ago As in the money in the UK is not freely flowing through the real economy, the one where money has a healthy velocity (eg the same pound flows from the carpenter to the baker to the electrician to the cafe worker and leaves everyone involved enriched by goods and services) Instead, the lion share of the money is tied up in London playing games with math. It's not even investments that create more economic activities... It's just making money on paper It means that while the GDP looks good on paper, the velocity of money continues to drop and the real economy is being starved It's also a severe problem in the US, but long story short, when the US economy pops the UK economy is going to also be thrown into chaos permalink fedilink source parent