Black holes.

2 recent headlines

'...there's a 22 Billion Pounds Black Hole in U K public funds.' '....U.K. Council face a 5 Billion Pounds Black Hole'

What exactly are Black Holes and how are they allowed to come about --- to who are the billions of pounds owed to ? Who manages the Black Holes?

 

Surely if there was a Black Hole, wouldn't we all get sucked into it in a space/time continuum thing? Or summat.

 

Been in a few. Night clubs in some weird and wonderful parts of the country. I've just about lived to tell the tale.

 

Supermassive black hole

 

Spaghettification around the event horizon.

 

Black Holes feed families like Rothschild and Morgan and Rockefeller, who are the worlds bankers.

The thrive and grow on wars, internal conflicts (divide and conquer), arms and 'natural' disasters.

They influence world events ensuring there is always a war going on. So when a country is in debt, those debts are to the true global powerhouses.

 

There's a huge one at the centre of the Milky Way galaxy apparently and it eats stars for breakfast. They are a natural consequence of gravity.

 

Thanks - but how does a country get into debt ?

 

By spending more than the country earns. Every country is in debt though, it doesn't really mean anything because it will never get paid off. Trouble is, countries can't borrow money if they don't tow the line with the IMF.

 

Weren't there one in Calcutta?

 

The Black Hole of Calcutta was a dungeon in Fort William, Calcutta, measuring 14 by 18 feet (4.3 m × 5.5 m), in which troops of Siraj-ud-Daulah, the Nawab of Bengal, held British prisoners of war on the night of 20 June 1756.[1][2]: 58  John Zephaniah Holwell, one of the British prisoners and an employee of the East India Company, said that, after the fall of Fort William, the surviving British soldiers, Indian sepoys, and Indian civilians were imprisoned overnight in conditions so cramped that many people died from suffocation and heat exhaustion, and that 123 of 146 prisoners of war imprisoned there died.[3]

 

Thanks RH - at last a sensible reply!

 

We've all got sucked into a cost of living crisis!

 

The country borrows money from the powerful (disguised as World Bank and IMF etc).
Same country then gets sucked into a war, or forced to plunge millions into rescuing refugees (for example) who flee countries made unstable by the same banks. Usual by war. Or civil war. After lots of spending, it becomes overspending. And debt. Owed to the IMF and World Bank. And it gets called a black hole.
We then spend many years paying interest and tax leading to a period of financial stability, whilst the circus moves on to another part of the world.

Or summat

 

Mine wasn't?

 

The £22bn black hole is specifically the overspend by the Tories that was hidden from the nation.

The UK is in debt to itself. We have our own currency and could mint a £2 trillion note tomorrow and write off our national debt if we wanted to. The downside would be that it would make our currency worthless, meaning we'd be unable to use it to purchase imports which we're reliant upon. It'd also write off the value of everybody's savings and pensions.

The government basically have to play a balancing game where they maintain the confidence of outside investors, but there's nothing inherently bad about the country running a deficit. The yanks do it because they know everyone knows their economy is unsinkable because the alternative is the collapse of western civilisation (probably global).

 

Your pension funds might be invested in gilts - which is the name for government bonds - ie debt issued by the government and bought on the money market. The interest rate is then fixed depending on the risk profile of the country - the UK government have a very good risk profile as they never default on debts - so can borrow cheaply. Argentina, not so much. In essence economic orthodoxy would say as long as your countries debt doesn’t much exceed 100% of your GDP then it’s not a problem. Once it’s beyond that it can cause more and more issues. Ours is approaching 100%, highest since the 60s, not great but needs to start going down sooner rather then later.

 

That'll be Hillsborough.