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Money v Making Stuff-Should Britain bid farewell to the golden egg of banking.
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Jeremy Bosk
Posted: 26 November 2011 07:19:33(UTC)
#861

Joined: 09/06/2010(UTC)
Posts: 1,316
For those who believe we can prosper by growing and making everything ourselves, importing nothing but still selling to grateful foreigners.

http://www.miningweekly....al-content-2011-11-25-1

For those who believe that public service pensions are a gold plated gravy train for the (they apparently believe) entirely undeserving, police, fire, nursing etcetera staff, the Editor of the Investors Chronicle reports that the median public service pension is £5,600 a year. There are no missing zeroes and it is a year, not a week.

Measures already proposed will reduce the burden on the taxpayer from 1.9 per cent of GDP to 1.4 per cent in around ten years. Hardly a back breaking burden. My non-public sector pension is £3,721 a year and I do not begrudge those public sector workers a penny of theirs.

Engineer Tony

Have you tried asking those idiots who won the lottery and gave a million to the SNP?

If I won the lottery I would happily give some to you, to see what you could make of it. Of course I would have to play the lottery first :-(
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Anonymous Post
Posted: 29 November 2011 14:28:25(UTC)
#862
Anonymous 1 needed this 'Off the Record'

Dear all
Have just come across an interesting comment in The Independent post Osborne's speech.
DEBT IS GOOD!
Are you a small business struggling to service debts? BORROW!
Are you a council house tenant strugggling on low pay? BORROW!
Are you trying to start a University education? BORROW!
Are you a local authority struggling to maintain services? BORROW!
Are you a chancellor struggling to keep a reputation? BORROW!
Are you a Government struggling to pay your paymasters? BORROW!

Osborne wanted to go down in history as the modern day Moses; Instead he will go down as the modern King Cnut.

Prof Eman
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Anonymous Post
Posted: 05 December 2011 20:48:12(UTC)
#863
Anonymous 1 needed this 'Off the Record'

Dear all
On the Money side, the latest-
citywire
HSBC hit with record fine for mis-selling to the elderly.
...fined £10.5m and ordered to pay £29m compensation for an investment scandal affecting thousands of the bank's elderly customenrs.
The second biggest fine of £7.7m was imposed on Barclay's in January for mis-selling of investment funds.
Other recent fines JP Morgan £33m in the summer, Golmann Sachs International £17m in September last year.
Does anything ever change on the Money/banking side?

Prof Eman
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Anonymous Post
Posted: 06 December 2011 22:43:47(UTC)
#864
Anonymous 1 needed this 'Off the Record'

engineertony and others
BBC News business to-day
Uk banks charging as much as 800,000% on overdrafts
By Ben Carter Reporter, Money Box
Some High Street banks are charging "eye-watering" rates of interest when their customers go over their overdraft limit, research by Radio 4's Money box programme has revealed.
A customer borrowing £100 for 28 days without the consent of Santander would repay £200 for example. i.e. APR of 819,000%
Lloyds, Barclays, and others are also mentioned.
The system works like this-
At he staggering rates of interest plus charges, phenmenal amounts are asked for repayment.
These lead to defaults.
The debts are sold on.
CCJ's, bankrupcy and administrations follow.
One man businesses and individuals are hit, no longer able to get credit, they end up on the scrap heap.
Hence my theory - That the banks cause more bankrupcies, administrations and other financial problems than any-one else.
Engineertony, you may wish to update your model for the above.

Prof Eman
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jeff lampert
Posted: 07 December 2011 03:34:32(UTC)
#865

Joined: 13/11/2009(UTC)
Posts: 41
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Anonymous Post
Posted: 07 December 2011 13:31:23(UTC)
#866
Anonymous 1 needed this 'Off the Record'

jeff lampert
Had a look at the above.
Conclusion is, supposedly, as long as procedures are followed, the result does not matter.
But it should matter, to the economy, the business, particularly small business, the individual.
It seems to me that banks/ financials are much better at creating debt, than providing credit where necessary.
What I would like to see is the ratio Bank debt created in the last year, through itself and then third parties v Credit given.
There is an interesting article on the subject in bbc news to-day, bbc.co.uk/news/uk-16063271 - Millions turn to payday loans, claim insolvency experts.
Still who needs payday loans when banks charge up to 800,000% APR.
Talk about the need for payday loans and fear of loan sharks.

Prof Eman
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engineertony
Posted: 09 December 2011 14:17:54(UTC)
#867

Joined: 24/05/2011(UTC)
Posts: 71
This is what's going on.
Passing money around within a community a country, does not generate wealth.
I might run a UK gambling website, I may take UK money and give some of it back to UK people with problems,
I may take UK people's money and lend it to others in the UK at a profit, but the country as a whole does not benefit.
I may use my old boy connections to get a ministerial position and squander billions of taxpayers money on schemes which I don't understand. Of course I gain because money has been transferred into my Swiss/Jersey/Bahamas account. The losers are those workers who gamble, pay for insurance, bank with my banks, and pat tax to an ncompetent government.

Now, if done internationally ! We can scam & rob the third world, and even the rest of Europe as long as they don't realise what is going on. Lots of hype about London being the world financial hub etc. big contribution to GDP etc, So we close down our industries and stick to financial manipulation.

Panic time!!! They're going to cut us out of the financial scamming circuit, what to do?? Third world countries want a slice of the action. Join the euro? Veto everything? Go it alone and try to start making things again? Sink?.
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Anonymous Post
Posted: 10 December 2011 19:51:31(UTC)
#868
Anonymous 1 needed this 'Off the Record'

engineertony and others
Please have a look at
http://www.independent.c...ay-a-national-sacrifice
Sums up some of the things that thave been said.
On the veto, which was not a complete veto.
I have never known one person or body take on 26 and win, (who are bigger and stronger than the UK.)

Prof Eman
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Anonymous Post
Posted: 11 December 2011 23:48:17(UTC)
#869
Anonymous 1 needed this 'Off the Record'

Dear all
Some more interesting reading on the subject
A point of view:Beware of Experts
http://bbc.co.uk/news/magazine-16110088
The latest scenario-Is it worth risking 90% of GDP for the sake of 10%? Expert opinions required.

Prof Eman
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Jeremy Bosk
Posted: 14 December 2011 16:54:48(UTC)
#870

Joined: 09/06/2010(UTC)
Posts: 1,316
Engineer Tony

You might find this story of interest:

Plexus Holdings Makes Good On IPO Promise With “Breakthrough” Licensing Agreement

Shares in Plexus Holdings gained seven pence in Monday morning trading after the specialist well-head supplier made good on a promise made at the time of its 2005 IPO. It has taken longer than anticipated to realise but six years on and the AIM-quoted engineering company has secured what it calls a “breakthrough” licensing agreement for its proprietary POS-GRIP technology.
http://oilbarrel.com/new...ough-licensing-agreement
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