Financial Crisis

[Naam]

It's like his persona gets more ridiculas as a reflection of the madness in the system he is talking about. Like his brains just going to explode with how incredible the level of fraud / injustice/ corruption/ idiocy etc etc etc ; quite comical some times

if he'd present his points in a less dramatic and sensational way and without extrapolating wild assumptions he would be much more credible.

[Naam]

He's a bit of a clown but raises many serious points

the claim "the guy coming from the Canadian bank to the Bank of England

will probably devalue the pound" is nothing but rubbish (if he really said so).

[mccw]

He's a bit of a clown but raises many serious points

the claim "the guy coming from the Canadian bank to the Bank of England

will probably devalue the pound" is nothing but rubbish (if he really said so).

You think he won't continue the existing policy of devaluation?

[Naam]

He's a bit of a clown but raises many serious points

the claim "the guy coming from the Canadian bank to the Bank of England

will probably devalue the pound" is nothing but rubbish (if he really said so).

You think he won't continue the existing policy of devaluation?

please show me some evidence of GBP's devaluation and give me a valid reason that "the guy from a Canadian bank" has the power to devalue Sterling.

Edited December 3, 2012 by Naam

[cheeryble]

He's a bit of a clown but raises many serious points

the claim "the guy coming from the Canadian bank to the Bank of England

will probably devalue the pound" is nothing but rubbish (if he really said so).

You think he won't continue the existing policy of devaluation?

please show me some evidence of GBP's devaluation and give me a valid reason that "the guy from a Canadian bank" has the power to devalue Sterling.

Naam don't you realise that if Goldbugs Daily thinks it so then it automatically becomes Bank of England policy?

ps: have you ever seen a floating currency float as little as the pound lately.....let alone "continue to devalue"?.....it's more like flatlining than floating!

Edited December 3, 2012 by cheeryble

[mccw]

He's a bit of a clown but raises many serious points

the claim "the guy coming from the Canadian bank to the Bank of England

will probably devalue the pound" is nothing but rubbish (if he really said so).

You think he won't continue the existing policy of devaluation?

please show me some evidence of GBP's devaluation and give me a valid reason that "the guy from a Canadian bank" has the power to devalue Sterling.

"The Governor of the Bank of England, Mervyn King, has been quite open about the BOE’s belief that its programme will aid recovery by driving down the exchange rate."

http://blogs.telegraph.co.uk/finance/thomaspascoe/100018384/a-weak-currency-isnt-rebalancing-the-british-economy-its-strangling-it/

Lays it out quite well I thought and a source you can't poo poo

http://finance.yahoo.com/q/bc?s=GBPTHB=X&t=5y&l=on&z=l&q=l&c=

http://uk.finance.yahoo.com/q/bc?s=GBPCNY%3DX&t=5y

http://uk.finance.yahoo.com/q/bc?s=GBPCHF=X&t=5y&l=on&z=l&q=l&c=

Only petered out after:

http://seekingalpha.com/article/803421

Money printing = devaluation.

See my Emir analogy from higher post.

Mr Carney, being a tentacle from Goldman Sacks, I'd expect him to want lots of cheap money flowing, system support, volatility to play etc. But; Maybe he'll demand back the 35bl interest old merv just handed over to the government and no more QE - try to crash the country so assets can be stripped at rock bottom prices.

What do you think?

Merv gave a speech the other day:

http://www.telegraph.co.uk/finance/financevideo/9630043/Sir-Mervyn-King-banks-still-have-insufficient-capital.html

Getting us ready for things to come?

[Naam]

selecting 5 year GBP vs. four currencies which are special cases and starting in the crisis year 2008 is not evidence. clear evidence is provided by longer periods and rates vs. the two currencies which are used for 85% of global trade, namely USD and EUR and of course THB which is important for those living or planning to live in Thailand.

GBP USD 22 years ago (1990) 1.6050

GBP USD today.........................1.6050

GBP EUR (using € components) Jan 1993.......1.21357

GBP EUR today...............................................1.23000

GBP THB 1990..........................49.50

GBP THB today..........................49.00

p.s. poo poo poo

[Naam]

Mr Carney, being a tentacle from Goldman Sacks...

...crash the country so assets can be stripped at rock bottom prices.

What do you think?

i leave this kind of thinking to the resident conspiracy master Khun Midas

[Kwasaki]

it was discussed about the pound being devalued

who, pray tell, "discussed" that?

Maybe discussed was the wrong word to use but it was talked about on Russian TV Max Kieser program he was saying the guy coming from the Canadian bank to the Bank of England will probably devalue the pound.

Hence my question.

Max Keiser =

OK ! Well what about Stacey Herbert is she wrong with her analysis and reports.

[Naam]

Max Keiser =

OK ! Well what about Stacey Herbert is she wrong with her analysis and reports.

i'm sure you don't want to hear my answer Kwasaki.

[mccw]

selecting 5 year GBP vs. four currencies which are special cases and starting in the crisis year 2008 is not evidence.

Sorry but you are wrong.

5 year charts are exactly the ones to look at because that is the period the devaluation policy has been in effect and the period of this financial crises we are talking about.

Comparing USD and other currencies engaged in similar devaluation policies is not showing the true effects obviously because they are all at it together. Looking at them collectively or individually compared to gold, silver, a basket of other commodities, good stuffs or currencies not under going such heavy QE policies shows clearly the major "western trading" currencies are all devalued compared to 5 years ago when this financial crises started.

[mccw]

selecting 5 year GBP vs. four currencies which are special cases and starting in the crisis year 2008 is not evidence.

On the conspiricy.

How many countries have Goldman ex WBankers got in government or central banks?

Edited December 3, 2012 by mccw

[Naam]

it goes without saying that i am wrong and you are right hear ye, hear ye oh Brits! the Pound will fall into the abyss pushed by the tentacles of Mark Carney

[mccw]

http://truth11.com/2012/11/27/goldman-sachs-completes-economic-takeover-of-europe/

[Naam]

selecting 5 year GBP vs. four currencies which are special cases and starting in the crisis year 2008 is not evidence.

On the conspiricy.

How many countries have Goldman ex WBankers got in government or central banks?

it is a well-known fact that Goldman bankers know how to conduct business successfully. Monti is doing a good job in Italy and Draghi a good job in Frankfurt. Draghi's results are already on the table, Monti will take longer. Draghi could have achieved even much better results if not hampered by Merkel, Schäuble and a bunch of other EU clowns.

[mccw]

it goes without saying that i am wrong and you are right hear ye, hear ye oh Brits! the Pound will fall into the abyss pushed by the tentacles of Mark Carney

I can't comment on your opinion of the future because you haven't offered one! I'm just voicing my guess that we'll see more of the existing policy and maybe to a larger scale. I'm be happy to hear other opinions though.

[Naam]

I can't comment on your opinion of the future because you haven't offered one! I'm just voicing my guess that we'll see more of the existing policy and maybe to a larger scale. I'm be happy to hear other opinions though.

opinions and forecasts are difficult, especially when they concern the future. the variables are just too many to have one or more specific opinions of the future. that why i concentrate on the present which proved that those who voiced gloom&doom opinions specifically as far as the EU countries "on crutches" are concerned were dead wrong. Greek restructured bonds plus 100-120% during the last 6 months, Portugal plus 50%. Ireland can refinance at less than 5% p.a. (after 11% only a year ago, meaning bonds more than doubled).

eat your heart out Max Keiser, Marc Faber, Null-Hedge Dyler Turd, "World Gold Council" et al... or make hay when the sun shines!

[mccw]

Inflation pressure from more than one side:

"Consumers are expected to be hit by widespread food price hikes because crop failures have forced Britain to import foreign grain, the cost of which is at an all-time high.

Experts have warned that wheat and barley prices are set to climb even further in the coming months, with knock-on effects hitting many food and drink items.

The Financial Times said analysts have warned that "everything from bread and biscuits to beer to beef" would rise in price.

Britain normally grows more wheat than it consumes but poor harvests this year have forced traders to import, for the first time since 2001.

The head of wheat procurement at the parent company of breadmaker Hovis has also warned of the significance of the grain shortfall.

"The domestic situation is more worrying than in 2007-8 during the global food crisis," Premier Foods' Gary Sharkey said.

"And we are starting to worry about next year's crop because farmers have sown less wheat than expected."

The Home Grown Cereals Authority has forecast that the UK will import more than two million metric tons of wheat in the 2012-13 season.

Numerous countries were hit with protests and riots during the last crisis as the price of flour, a staple for most societies globally, rocketed.

This year, the global grain harvest has been hit by drought in the United States and reduced output from vast fields in the Black Sea region.

In addition to flour production being hit, grain is used by farmers to fatten livestock ahead of slaughter.

Last week, the futures market for feeding wheat reached £227 a metric ton, a rise of 45% since January.

Feed wheat is the benchmark price used for wheat produced for human consumption.

Meanwhile, feeding barley, some of which is used in beer and liquor production, has increased 25% - to £190 - in the same period.

The growth in biofuel has also increased demand as the UK crop was hit by adverse weather in 2012.

The FT said total wheat demand would rise 7% because of ethanol production coming online at the Vivergo plant near Hull and the restarted Ensus plant on Teesside."

-sky news app

[mccw]

I can't comment on your opinion of the future because you haven't offered one! I'm just voicing my guess that we'll see more of the existing policy and maybe to a larger scale. I'm be happy to hear other opinions though.

opinions and forecasts are difficult, especially when they concern the future. the variables are just too many to have one or more specific opinions of the future. that why i concentrate on the present which proved that those who voiced gloom&doom opinions specifically as far as the EU countries "on crutches" are concerned were dead wrong. Greek restructured bonds plus 100-120% during the last 6 months, Portugal plus 50%. Ireland can refinance at less than 5% p.a. (after 11% only a year ago, meaning bonds more than doubled).

eat your heart out Max Keiser, Marc Faber, Null-Hedge Dyler Turd, "World Gold Council" et al... or make hay when the sun shines!

If you hadn't formed an opinion about the future how can you invest in anything? Let alone taking a punt on the bonds you mentioned.

Personally this rings true whether today, last year or 5years ago:

"Better a year early than a day late" in being prepared for the unfolding of the systemic risks.

If you can afford to do so a degree of risk taking is desirable of course to make more money and provide for the present; but to trade or plan anything of course risk assessments and opinions on the future must be formed and acted upon.

Edited December 3, 2012 by mccw

[Naam]

If you can afford to do so a degree of risk taking is desirable of course to make more money and provide for the present; but to trade or plan anything of course risk assessments and opinions on the future must be formed and acted upon.

nobody is able to accomplish a correct risk assessment of the future. if that was possible wars and financial crises could have been avoided. the best one can do is to prepare for a variety of future scenarios, including the worst case scenario, by diversification with the target being able not to make any concessions as far as lifestyle is concerned.

a piece of cake for those who possess £/$/€ 50 million, a much more difficult task for those with a net worth of 5 million and a futile undertaking for those who own a million or less even if this million is in form of 600 ounces 999 gold.

[kblaze]

max keiser...just a doomsayer faux economist making money by telling people like Alex Jones what they want to hear so he can get airtime.

[mccw]

If you can afford to do so a degree of risk taking is desirable of course to make more money and provide for the present; but to trade or plan anything of course risk assessments and opinions on the future must be formed and acted upon.

nobody is able to accomplish a correct risk assessment of the future. if that was possible wars and financial crises could have been avoided. the best one can do is to prepare for a variety of future scenarios, including the worst case scenario, by diversification with the target being able not to make any concessions as far as lifestyle is concerned.

a piece of cake for those who possess £/$/¤ 50 million, a much more difficult task for those with a net worth of 5 million and a futile undertaking for those who own a million or less even if this million is in form of 600 ounces 999 gold.

What a load of rubbish- "Future scenarios" are "opinions" about the future based on risk assessments and probabilities. The personal idea of % chances for each scenario occuring being what determines ones actions. So you've taken your argument full circle and contradicted yourself; (clap clap icon) quite an achievement.

Edited December 3, 2012 by mccw

[mccw]

"Last month, HM Revenue and Customs (HMRC) ordered some JP Morgan workers to pay tax - or face legal action - over allegations the firm transferred salary payments offshore.

HMRC said the money was "disguised remuneration" and not retirement benefits as claimed."

-Sky news app

-------------

[Naam]

If you can afford to do so a degree of risk taking is desirable of course to make more money and provide for the present; but to trade or plan anything of course risk assessments and opinions on the future must be formed and acted upon.

nobody is able to accomplish a correct risk assessment of the future. if that was possible wars and financial crises could have been avoided. the best one can do is to prepare for a variety of future scenarios, including the worst case scenario, by diversification with the target being able not to make any concessions as far as lifestyle is concerned.

a piece of cake for those who possess £/$/¤ 50 million, a much more difficult task for those with a net worth of 5 million and a futile undertaking for those who own a million or less even if this million is in form of 600 ounces 999 gold.

What a load of rubbish- "Future scenarios" are "opinions" about the future based on risk assessments and probabilities. The personal idea of % chances for each scenario occuring being what determines ones actions. So you've taken your argument full circle and contradicted yourself; (clap clap icon) quite an achievement.

please be lenient and excuse my rubbish. unfortunately i neither possess the expertise nor the experience nor the wealth of a successful investor who's risk assessments generate brilliant ideas such as to compensate a worst case scenario by withdrawing to a self-sustained house in northern Thailand.

[Kwasaki]

Max Keiser =

OK ! Well what about Stacey Herbert is she wrong with her analysis and reports.

i'm sure you don't want to hear my answer Kwasaki.

There's a guy outside the temple that reads palms where my Mrs goes, while I'm waiting for her, I see what he has to say.

Edited December 4, 2012 by Kwasaki

[Naam]

Max Keiser =

OK ! Well what about Stacey Herbert is she wrong with her analysis and reports.

i'm sure you don't want to hear my answer Kwasaki.

There's a guy outside the temple that reads palms where my Mrs goes, while I'm waiting for her, I see what he has to say.

not a bad idea and probably more precise than what Ugly Ms Herbert has to say.

[Rancid]

selecting 5 year GBP vs. four currencies which are special cases and starting in the crisis year 2008 is not evidence.

On the conspiricy.

How many countries have Goldman ex WBankers got in government or central banks?

Goldman is very pervasive, the company has a bad reputation for taking opposing positions to what it recommends to clients, and these are the crooks running or advising many central banks and essentially running the US. Some believe central banks are good for the economy (mainly bankers and their bought politicians), historical evidence would suggest otherwise, seems to me that someone is making a lot of money and that seems to be only the bankers at the expense of the rest of us.

Bankers are basically middle men, they produce nothing and hence contribute nothing to GDP, they just take a percentage of the action whether through interest on fiat money out of thin air or high frequency trading, in reality parasitism. The old adage about bringing entrepreneurs and funding together is a load of crap, any government bank could fascilitate that, odd how so many were privatised to remove that option for the public. Private banks also gamble with savings, they are no longer loan institutions, they serve no useful function and they should all have been allowed to collapse. At least the money printing could have gone to govenments restoring lost saving accounts instead of running zero interest policies and wiping out a generation of savers, mainly the elderly. Think Goldman, JP Morgan and the rest plus the so-called central banks aren't up to their neck in the biggest financial scam of the millenium?

[mccw]

If you can afford to do so a degree of risk taking is desirable of course to make more money and provide for the present; but to trade or plan anything of course risk assessments and opinions on the future must be formed and acted upon.

nobody is able to accomplish a correct risk assessment of the future. if that was possible wars and financial crises could have been avoided. the best one can do is to prepare for a variety of future scenarios, including the worst case scenario, by diversification with the target being able not to make any concessions as far as lifestyle is concerned.

a piece of cake for those who possess £/$/¤ 50 million, a much more difficult task for those with a net worth of 5 million and a futile undertaking for those who own a million or less even if this million is in form of 600 ounces 999 gold.

What a load of rubbish- "Future scenarios" are "opinions" about the future based on risk assessments and probabilities. The personal idea of % chances for each scenario occuring being what determines ones actions. So you've taken your argument full circle and contradicted yourself; (clap clap icon) quite an achievement.

please be lenient and excuse my rubbish. unfortunately i neither possess the expertise nor the experience nor the wealth of a successful investor who's risk assessments generate brilliant ideas such as to compensate a worst case scenario by withdrawing to a self-sustained house in northern Thailand.

If you have no idea or opinion on what kind of policy mark carney might do it would of been better to just keep quiet than try to claim that you don't indulge in opinions at all.

Your comments about less than 5millions being "futile" is not correct at all, is a lame attempt to show off ; but I can not be bothered to get in to another 10posts of time wasting. Apologies to the wider readers who have to sit through this balls.

[mccw]

How's this for a future scenario?- "by the middle of 21st century the fight for resources between different states will turn completely uncivilized." - Russian VP

Here's the full story from the RT app-

"Russia may lose its sovereignty in about 40 years if it fails to clearly set out its national interests in the Arctic, believes the countrys Vice Prime Minister Dmitry Rogozin.

Its crucially important for us to set goals for our national interests in this region. If we dont do that, we will lose the battle for resources which means well also lose in a big battle for the right to have sovereignty and independence, Rogozin stated at the Marine Board meeting in Moscow.

In his words, by the middle of 21st century the fight for resources between different states will turn completely uncivilized.

Currently responsible for the defense industry, Rogozin served as Moscows envoy to NATO in 2008 -2011.

Back then, he recalled, the Arctic issue was raised at almost every alliance gathering. In particular, participants would normally state that because of climate change, the Arctic sea ice would melt and the Northern Sea route will become available for shipping. So, NATO would have to send its warship to the region supposedly to ensure security of civil navigation.

Clearly, an attempt to undermine international regulations that provide for cooperation and security in the Arctic zone is behind [that rhetoric], Rogozin stated, as cited by Itar-Tass. On the other hand, he added, it indicates the magnetism of the region for world powers.

The Arctic seabed is believed to contain vast oil and gas resources. Five nations that border the Arctic Ocean Russia, Norway, the United States, Canada and Denmark have been in at bitter dispute over how to divide up the region.

According to the UN Convention on the Law of the Sea, an economic zone belonging to a state is limited to 200 nautical miles from the coastline. That area can only be extended if a country provides evidence that the continental shelf is a geological extension of its territory.

Since 2007, Russia has organized several expeditions to prove that an underwater Arctic mountain range, the Lomonosov Ridge, is part of its own landmass. It says the ridge is a continuation of the Siberian continental platform and it is not isolated from the Russian plateau.

By 2020, Russia plans to deploy a combined-arms force including military, border and coastal guard units to protect its economic and political interests in the Arctic.

[mccw]

selecting 5 year GBP vs. four currencies which are special cases and starting in the crisis year 2008 is not evidence.

On the conspiricy.

How many countries have Goldman ex WBankers got in government or central banks?

Goldman is very pervasive, the company has a bad reputation for taking opposing positions to what it recommends to clients, and these are the crooks running or advising many central banks and essentially running the US. Some believe central banks are good for the economy (mainly bankers and their bought politicians), historical evidence would suggest otherwise, seems to me that someone is making a lot of money and that seems to be only the bankers at the expense of the rest of us.

Bankers are basically middle men, they produce nothing and hence contribute nothing to GDP, they just take a percentage of the action whether through interest on fiat money out of thin air or high frequency trading, in reality parasitism. The old adage about bringing entrepreneurs and funding together is a load of crap, any government bank could fascilitate that, odd how so many were privatised to remove that option for the public. Private banks also gamble with savings, they are no longer loan institutions, they serve no useful function and they should all have been allowed to collapse. At least the money printing could have gone to govenments restoring lost saving accounts instead of running zero interest policies and wiping out a generation of savers, mainly the elderly. Think Goldman, JP Morgan and the rest plus the so-called central banks aren't up to their neck in the biggest financial scam of the millenium?

Well said. Agree completely. The corruption is legal and open; the conflicts of interest are plain to see, the bankers that set this up are now running countries, central banks and the regulators.

Just another example today:

"The former chief executive of the Financial Services Authority (FSA) risks igniting a conflict of interest row by entering negotiations about a job with Deloitte, the accounting firm, just months after he left the City regulator.

I have learned that Hector Sants, who stepped down from the FSA in June, is in talks to become an equity partner at Deloitte. If he accepts the post, he would advise clients across a range of industries including in banking and financial services, insiders said today.

Deloitte, one of the ‘big four’ accounting firms, has made Mr Sants an offer but he has not yet accepted it and his appointment could fall through, according to people close to the discussions.

People close to Mr Sants said that he was considering a number of options and would not make up his mind about his next move until a period of gardening leave expired at the end of the month.

If he does opt to join Deloitte, it could be controversial given the amount of FSA work channelled through the big accountancy practices in recent years.

Deloitte's rivals were paid millions of pounds for assisting with widely-derided inquiries into the banking crisis, although it is unclear how much Deloitte itself made in fees from the regulator during Mr Sants' five years in charge."

-sky news app