Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Brexiteers meet realty...l
#51
(08-17-2017, 08:11 PM)Donegal Wrote:
(08-17-2017, 09:38 AM)The Pontificator Wrote:
(08-16-2017, 07:52 PM)Donegal Wrote:
(08-16-2017, 01:07 PM)Beano16 Wrote:
(08-16-2017, 11:16 AM)bangalorebaggie Wrote: Now the imbeciles are talking about a border with Southern and Northern Ireland, putting at risk the whole peace process.
The whole Brexit thing makes me vomit.

And I was certain a border already existed, you learn something new everyday  Rolleyes
You obviously haven't been over here since 1998

(08-16-2017, 05:46 PM)Ossian Wrote:
(08-16-2017, 07:59 AM)Pontificator Wrote: Are you being deliberately dim? what happens when the banks close their doors, shut down the direct debits and the cash machines - how do you pay bills and buy food?

None of which actually needs to happen when the state steps in to rescue a failing situation...

When Network Rail had to pick up the pieces of the catastrophic failures of Railtrack at Ladbroke Grove, Hatfield and elsewhere - another example of where individuals should have been dragged out of the boardroom and banged up - there was continuity of maintenance and infrastructure projects, the pond signals still worked as normal, the trains continued to run.

The East Coast main line has twice been abandoned by its franchise holder: again, trains still ran, ticket offices opened as before, the booking system still worked. The mistake there was re-privatising what, under public ownership, had become the best performing of the long-distance operators; unsurprisingly the incumbent private franchisee is presently scouring the small print of its contract for get-out clauses.

I don't see that Donny is being at all dim...

I don't think ponny read the article....the BOE print money and give it to depositors. 

Sad that I am dim because he disagrees with me.
I am as dim as Paul Tucker, Nobel winning economist Joseph Stiglitz  and countless others. People should question the Bollix of the narrative

Anyway, I give you another dimwit
http://www.telegraph.co.uk/finance/newsb...glitz.html

I apologise for asking you if you were beithe BOE print money and give it to depositorsng dim - unreservedly. So  answer the question. When a bank fails or several banks fail how do people get their money? How do they pay bills? How do they buy food. I had money in Icesave in 2008 this was the message on the website when it failed ""We are not currently processing any deposits or any withdrawal requests through our Icesave internet accounts" It took a long time to get the money back (about 40 grand) and I lost a few hundred quid in the process.

Imagine RBS the 5th largest in the world in 2009 just shutting their doors and then answer the question - How do ordinary folk live in the interim?

I keep posting the same reply
The yank said it in his article .....I said it....
the BOE print money and give it to depositors.
Not beyond the wit of modern technology re BACS, FPS and cash deliveries AOTS
There is already a 70k depositor compensation scheme in place for this very thing

I really can't understand anyone who is an apologist for the banks. So many bankers should be in jail
 I don't think you are dim though, just wrong on this one

And. I keep asking the question back in 2009 when RBS was fucked what would the people who had current accounts have done with no fucking money? The fifth biggest bank in the world perhaps with millions of customers and a turnover the size of the British economy......answer the question what would they have done? Actually old pal you just can't see it can you?
Reply
#52
I'll try again
The Bank of England print loads of money and delivers it to branches. Either branches of failed bank which the govt keep temporarily open or branches of other banks that haven't failed. The BOE electronically transfers money via BACS and FPS to depositors.
There is already a 70k depositor scheme in place for this very thing. Paying people WITHIN 7 DAYS
http://www.bankofengland.co.uk/publicati...130302.pdf

They wouldnt have "no fucking money"

Even the bloody Russians can do it

https://www.asv.org.ru/en/top_managers_p...ns/286255/

Europe already has a plan

https://www.pwc.com/im/en/publications/a...ragedy.pdf

Oh hang on.....that's another thing for the geniuses Davies and Fox to negotiate......
Reply
#53
(08-17-2017, 08:37 PM)Donegal Wrote: I'll try again
The Bank of England print loads of money and delivers it to branches. Either branches of failed bank which the govt keep temporarily open or branches of other banks that haven't failed. The BOE electronically transfers money via BACS and FPS to depositors.
There is already a 70k depositor scheme in place for this very thing. Paying people WITHIN 7 DAYS
http://www.bankofengland.co.uk/publicati...130302.pdf

They wouldnt have "no fucking money"

Even the bloody Russians can do it

https://www.asv.org.ru/en/top_managers_p...ns/286255/

Europe already has a plan

https://www.pwc.com/im/en/publications/a...ragedy.pdf

Oh hang on.....that's another thing for the geniuses Davies and Fox to negotiate......

Firstly we are talking about a global financial situation that started 8 years ago. Had the banks that were in difficulty shut their doors, declined any further transactions people would have not been able to pay bills and get money to buy food. I think that can reasonably be seen as a fact. An illustration; in Greece 2 years ago banks shut their doors and people queued for money. Imagine that a million times worse on a global scale if you can - I can't. There was no plan and no alternative then.
Reply
#54
(08-18-2017, 09:17 AM)Pontificator Wrote:
(08-17-2017, 08:37 PM)Donegal Wrote: I'll try again
The Bank of England print loads of money and delivers it to branches. Either branches of failed bank which the govt keep temporarily open or branches of other banks that haven't failed. The BOE electronically transfers money via BACS and FPS to depositors.
There is already a 70k depositor scheme in place for this very thing. Paying people WITHIN 7 DAYS
http://www.bankofengland.co.uk/publicati...130302.pdf

They wouldnt have "no fucking money"

Even the bloody Russians can do it

https://www.asv.org.ru/en/top_managers_p...ns/286255/

Europe already has a plan

https://www.pwc.com/im/en/publications/a...ragedy.pdf

Oh hang on.....that's another thing for the geniuses Davies and Fox to negotiate......

Firstly we are talking about a global financial situation that started 8 years ago. Had the banks that were in difficulty shut their doors, declined any further transactions people would have not been able to pay bills and get money to buy food. I think that can reasonably be seen as a fact. An illustration; in Greece 2 years ago banks shut their doors and people queued for money. Imagine that a million times worse on a global scale if you can - I can't. There was no plan and no alternative then.

I agree and have sympathy with Brown who, given the alternatives at the time, probably did the right thing. Bear in mind this was not only RBS themselves but the accumulation of banks they bought with money that wasn't really theirs. It would have undoubtedly caused a run on other banks as well, just like the way people panic-buy when two flakes of snow come down in January.
Reply
#55
(08-18-2017, 09:17 AM)Pontificator Wrote:
(08-17-2017, 08:37 PM)Donegal Wrote: I'll try again
The Bank of England print loads of money and delivers it to branches. Either branches of failed bank which the govt keep temporarily open or branches of other banks that haven't failed. The BOE electronically transfers money via BACS and FPS to depositors.
There is already a 70k depositor scheme in place for this very thing. Paying people WITHIN 7 DAYS
http://www.bankofengland.co.uk/publicati...130302.pdf

They wouldnt have "no fucking money"

Even the bloody Russians can do it

https://www.asv.org.ru/en/top_managers_p...ns/286255/

Europe already has a plan

https://www.pwc.com/im/en/publications/a...ragedy.pdf

Oh hang on.....that's another thing for the geniuses Davies and Fox to negotiate......

Firstly we are talking about a global financial situation that started 8 years ago. Had the banks that were in difficulty shut their doors, declined any further transactions people would have not been able to pay bills and get money to buy food. I think that can reasonably be seen as a fact. An illustration; in Greece 2 years ago banks shut their doors and people queued for money. Imagine that a million times worse on a global scale if you can - I can't. There was no plan and no alternative then.

The Greek banks were constrained by the Euro, do not have their own currency and thus the ability to create money as we do with Sterling. As far as Icesave is concerned it was not covered by the UK Financial compensation scheme and it was made quite clear to anyone that only Icelandic depositors were covered by their compensation scheme. Only the UK website was shutdown and no branches, ATMS or deposits in Iceland were affected.

We have a perfectly good system for any business as did Iceland. It is put into liquidation and carries on trading. Deposits and mortgages would then belong to the liquidator and be covered by the BofE as lender of last resort. This is what Iceland did except they created a new national bank, they also took the opportunity to send some bankers to jail. Instead we protected bankrupt institutions instead of the people and allowed them to carry on pretty much as before.
Reply
#56
(08-18-2017, 09:42 AM)Strawman Wrote:
(08-18-2017, 09:17 AM)Pontificator Wrote:
(08-17-2017, 08:37 PM)Donegal Wrote: I'll try again
The Bank of England print loads of money and delivers it to branches. Either branches of failed bank which the govt keep temporarily open or branches of other banks that haven't failed. The BOE electronically transfers money via BACS and FPS to depositors.
There is already a 70k depositor scheme in place for this very thing. Paying people WITHIN 7 DAYS
http://www.bankofengland.co.uk/publicati...130302.pdf

They wouldnt have "no fucking money"

Even the bloody Russians can do it

https://www.asv.org.ru/en/top_managers_p...ns/286255/

Europe already has a plan

https://www.pwc.com/im/en/publications/a...ragedy.pdf

Oh hang on.....that's another thing for the geniuses Davies and Fox to negotiate......

Firstly we are talking about a global financial situation that started 8 years ago. Had the banks that were in difficulty shut their doors, declined any further transactions people would have not been able to pay bills and get money to buy food. I think that can reasonably be seen as a fact. An illustration; in Greece 2 years ago banks shut their doors and people queued for money. Imagine that a million times worse on a global scale if you can - I can't. There was no plan and no alternative then.

The Greek banks were constrained by the Euro, do not have their own currency and thus the ability to create money as we do with Sterling. As far as Icesave is concerned it was not covered by the UK Financial compensation scheme and it was made quite clear to anyone that only Icelandic depositors were covered by their compensation scheme. Only the UK website was shutdown and no branches, ATMS or deposits in Iceland were affected.

We have a perfectly good system for any business as did Iceland. It is put into liquidation and carries on trading. Deposits and mortgages would then belong to the liquidator and be covered by the BofE as lender of last resort. This is what Iceland did except they created a new national bank, they also took the opportunity to send some bankers to jail. Instead we protected bankrupt institutions instead of the people and allowed them to carry on pretty much as before.

The Greek banks shut their doors and people couldn't get their money when they wanted it - fact. I'm pretty sure Icesave was covered by the UK scheme. I wouldn't have invested otherwise. TELEGRAPH 2008: "Icesave is not a British bank. We are obliged to top up the compensation to £50,000, but only above £16,000," said a spokesman for the British Financial Services Compensation Scheme."  

The Banks carried on trading because they were effectively nationalised, the government owns 72% of RBS so whats the difference? 

We were talking about 2009 ish

I'm sure if it was possible to hang draw and quarter the bastards we would do 

The crisis was caused by sheer greed.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)