questionmark Posted July 4, 2016 #1 Share Posted July 4, 2016 Quote Central banks raised oversight of currency markets to an unprecedented degree around Britain's shock vote to leave the European Union, demanding detailed updates from major trading desks every six hours throughout last week, industry sources said on Monday. One senior banker with a major global bank said the calls, never before conducted as often or consistently, had been seen as a sign that officials were worried an "Out" vote could trigger the sort of financial sector problems not seen since the collapse of Lehman Brothers in 2008. The U.S. Federal Reserve, the Bank of England and the European Central Bank all declined to comment on the calls, their conduct, content and aims. Read more on Reuters 2 Link to comment Share on other sites More sharing options...
+and-then Posted July 4, 2016 #2 Share Posted July 4, 2016 I wondered if Brexit might cause a panic. Thankfully it hasn't. Then again, it hasn't actually happened yet. Link to comment Share on other sites More sharing options...
questionmark Posted July 4, 2016 Author #3 Share Posted July 4, 2016 Just now, and then said: I wondered if Brexit might cause a panic. Thankfully it hasn't. Then again, it hasn't actually happened yet. First that and the "supervisory bodies" won't let it happen in panic form, this time they'll throw 'em under the bus slowly. Link to comment Share on other sites More sharing options...
Space Commander Travis Posted July 4, 2016 #4 Share Posted July 4, 2016 1 minute ago, and then said: I wondered if Brexit might cause a panic. Thankfully it hasn't. Then again, it hasn't actually happened yet. QM always seems to want it both ways. One one hand he keeps insisting that the world is about to implode because of the stupidity of the Brits, and then he keeps explaining to us that it'll never happen because the Brits will be saved by someone with sense who'll take over parliament and overrule the wishes of the people. 4 Link to comment Share on other sites More sharing options...
questionmark Posted July 4, 2016 Author #5 Share Posted July 4, 2016 Just now, Otto von Pickelhaube said: QM always seems to want it both ways. One one hand he keeps insisting that the world is about to implode because of the stupidity of the Brits, and then he keeps explaining to us that it'll never happen because the Brits will be saved by someone with sense who'll take over parliament and overrule the wishes of the people. Lets wait and see. Link to comment Share on other sites More sharing options...
ninjadude Posted July 5, 2016 #6 Share Posted July 5, 2016 23 hours ago, Otto von Pickelhaube said: One one hand he keeps insisting that the world is about to implode because of the stupidity of the Brits, it did. the 2.5 Trillion dollars that evaporated the day after this idiotic vote. 2 Link to comment Share on other sites More sharing options...
Space Commander Travis Posted July 5, 2016 #7 Share Posted July 5, 2016 (edited) 2 minutes ago, ninjadude said: it did. the 2.5 Trillion dollars that evaporated the day after this idiotic vote. Like such a figure even exists. When will people see through this fraud? Anyway, in the nearly two weeks since then, even if there was such a figure as 2.3 trillion Dollars, has the world continued to function? It seems to have. Why, incidentally, do you, in Illinois, consider that this vote was idiotic? Merely because of the aforementioned Chaos in the Markets? Or do you, like our friends in Des Moines and Australia, feel that you have the right to tell other countries how they ought to vote? Edited July 5, 2016 by Otto von Pickelhaube 2 Link to comment Share on other sites More sharing options...
ninjadude Posted July 5, 2016 #8 Share Posted July 5, 2016 6 minutes ago, Otto von Pickelhaube said: Like such a figure even exists. When will people see through this fraud? Anyway, in the nearly two weeks since then, even if there was such a figure as 2.3 trillion Dollars, has the world continued to function? It seems to have. Why, incidentally, do you, in Illinois, consider that this vote was idiotic? Merely because of the aforementioned Chaos in the Markets? Or do you, like our friends in Des Moines and Australia, feel that you have the right to tell other countries how they ought to vote? what makes you think it is not real? "the world continues to function"! Are you like 12? Clearly, you have no retirement plan or stock. Clearly, also you fail to understand the ramifications of what this vote will mean to ordinary Brits. Their life will devolve in cost of living increases, cost of business increases, business moving away, stagnant wages, etc. They thought only about the big bad immigrants and their own racist prejudices that will come back to bite them. I'm not "telling them what to do". They can certainly flush their country down the crapper all on their own. Link to comment Share on other sites More sharing options...
Dark_Grey Posted July 5, 2016 #9 Share Posted July 5, 2016 7 minutes ago, ninjadude said: it did. the 2.5 Trillion dollars that evaporated the day after this idiotic vote. I'm sure the Brits said similar things as they watched their countrymen set sail for the New World. The people voted for independence - deal with it. Looks like the EU was headed for disaster anyways, lending out of control. http://www.zerohedge.com/news/2016-07-05/look-inside-europes-next-crisis-why-everyone-finally-panicking-about-italian-banks Quote Britain’s vote to leave the EU has produced dire predictions for the U.K. economy. The damage to the rest of Europe could be more immediate and potentially more serious. Nowhere is the risk concentrated more heavily than in the Italian banking sector. In Italy, 17% of banks’ loans are sour. That is nearly 10 times the level in the U.S., where, even at the worst of the 2008-09 financial crisis, it was only 5%. Among publicly traded banks in the Eurozone, Italian lenders account for nearly half of total bad loans. and Quote Years of lax lending standards left Italian banks ill-prepared when an economic slump sent bankruptcies soaring a few years ago. At one major bank, Banca Monte dei Paschi di Siena SpA, bad loans were so thick it assigned a team of 700 to deal with them and created a new unit to house them. Several weeks ago, the bank put the bad-credit unit up for sale, hoping a foreign partner would speed the liquidation process. Greece 2.0? I'm not convinced joining the EU was any guarantee of financial stability. 1 Link to comment Share on other sites More sharing options...
ninjadude Posted July 5, 2016 #10 Share Posted July 5, 2016 7 minutes ago, Dark_Grey said: I'm not convinced joining the EU was any guarantee of financial stability. If that's what you thought, perhaps you were misinformed. IIRC the EU's primary aim is to foster the free movement of people, goods, services, money, etc. In fact, I believe the WIKIpedia says that very thing. Not one word about stability. 1 Link to comment Share on other sites More sharing options...
LV-426 Posted July 5, 2016 #11 Share Posted July 5, 2016 17 minutes ago, ninjadude said: what makes you think it is not real? "the world continues to function"! Are you like 12? Clearly, you have no retirement plan or stock. Clearly, also you fail to understand the ramifications of what this vote will mean to ordinary Brits. Their life will devolve in cost of living increases, cost of business increases, business moving away, stagnant wages, etc. They thought only about the big bad immigrants and their own racist prejudices that will come back to bite them. I'm not "telling them what to do". They can certainly flush their country down the crapper all on their own. Yet another ill-informed liberal mouthpiece living thousands of miles away from Britain, who's likely never set foot here, throwing the word "racist" around without realising the irony in their own words. Tell me, how would you feel about a similar setup in the US, maybe an "an ever closer union" with the rest of the Americas? Unrestricted movement of people into the US from the poorer South American nations sound okay for you? How about having those nations decide your laws for you? No... I thought not. 7 Link to comment Share on other sites More sharing options...
CrimsonKing Posted July 5, 2016 #12 Share Posted July 5, 2016 Actually LV,overly liberal rubes like "some" on here would absolutely love the situation you mention! Even moreso if their much idolized politician told them to do it... 2 Link to comment Share on other sites More sharing options...
stevewinn Posted July 5, 2016 #13 Share Posted July 5, 2016 The Bank of England only today stated the UK Banking sector is strong and ALL members passed the test where the scenario was a situation double that of the 2007/08 Credit crash. - So its clear we are economically in a strong position. because if the "dooms day" scenario happened it would have to be double the 2008 Crisis and it wouldn't matter if you was a member of the EU or not. Link to comment Share on other sites More sharing options...
ExpandMyMind Posted July 5, 2016 #14 Share Posted July 5, 2016 (edited) 1 hour ago, Otto von Pickelhaube said: Why, incidentally, do you, in Illinois, consider that this vote was idiotic? Merely because of the aforementioned Chaos in the Markets? Or do you, like our friends in Des Moines and Australia, feel that you have the right to tell other countries how they ought to vote? My guess would be Last Week Tonight with John Oliver. Edited July 5, 2016 by ExpandMyMind 2 Link to comment Share on other sites More sharing options...
Space Commander Travis Posted July 5, 2016 #15 Share Posted July 5, 2016 22 minutes ago, ExpandMyMind said: My guess would be Last Week Tonight with John Oliver. Ah, some sort of stand-up (or in this case sit down) satirical comedian who I've never heard of. But who does look an awful lot like Ben Elton. Link to comment Share on other sites More sharing options...
ExpandMyMind Posted July 5, 2016 #16 Share Posted July 5, 2016 24 minutes ago, Otto von Pickelhaube said: Ah, some sort of stand-up (or in this case sit down) satirical comedian who I've never heard of. But who does look an awful lot like Ben Elton. He's actually pretty good. You might like his brand of political comedy. I just don't agree with his piece on Brexit. 2 Link to comment Share on other sites More sharing options...
bee Posted July 5, 2016 #17 Share Posted July 5, 2016 (edited) 3 hours ago, ninjadude said: what makes you think it is not real? "the world continues to function"! Are you like 12? Clearly, you have no retirement plan or stock. Clearly, also you fail to understand the ramifications of what this vote will mean to ordinary Brits. Their life will devolve in cost of living increases, cost of business increases, business moving away, stagnant wages, etc. They thought only about the big bad immigrants and their own racist prejudices that will come back to bite them. I'm not "telling them what to do". They can certainly flush their country down the crapper all on their own. . Negative stereotyping of the people who voted to Leave the EU is the main thrust of the propaganda against us - encapsulated in the underlined above - you are either falling for the propaganda (being brainwashed) or are knowingly spreading it - Obama said this about the Brexit vote --- Quote President Obama said Friday that the shocking Brexit vote reflected the fears stirred by globalization, but he pledged that it would not affect the United States’ relationship with either the United Kingdom or the European Union. “Yesterday’s vote speaks to the ongoing changes and challenges that are raised by globalization,” Mr. Obama said at the federally-sponsored Global Entrepreneurship Summit held at Stanford University. He explained the vote, in part, by saying globalization offers extraordinary benefits but also “evokes concerns and fears.” Mr. Obama publicly pushed for U.K. voters to remain in the EU. http://www.washingtontimes.com/news/2016/jun/24/obama-brexit-vote-reflects-fears-globalization/ . GLOBALIZATION ---- that's what it's all about --- but who has voted for globalization -- ?--- who wants it if itmeans getting rid of countries and culture as we know them - who decided that there was going to be globalization - ?The negative stereotyping of Brexit is a psychological tool to help prise sovereignty and self determination away frompeople and nations --IMO... Edited July 5, 2016 by bee 2 Link to comment Share on other sites More sharing options...
bee Posted July 5, 2016 #18 Share Posted July 5, 2016 2 hours ago, LV-426 said: Yet another ill-informed liberal mouthpiece living thousands of miles away from Britain, who's likely never set foot here, throwing the word "racist" around without realising the irony in their own words. Tell me, how would you feel about a similar setup in the US, maybe an "an ever closer union" with the rest of the Americas? Unrestricted movement of people into the US from the poorer South American nations sound okay for you? How about having those nations decide your laws for you? No... I thought not. . well said ---- and here's the rub (for those in America coming down on us with the doom and gloom stuff) - globalization WILL eventually mean ever closer union with the rest of the Americas - and unrestricted movement of people socially and within the job market -- unless the people resist and want to keep things more like they are - and this must be why Trump poses a threat --- Obama and Clinton are obviously on board with the globalization plans - . 2 Link to comment Share on other sites More sharing options...
Space Commander Travis Posted July 6, 2016 #19 Share Posted July 6, 2016 11 hours ago, ninjadude said: what makes you think it is not real? "the world continues to function"! Are you like 12? Clearly, you have no retirement plan or stock. Clearly, also you fail to understand the ramifications of what this vote will mean to ordinary Brits. Their life will devolve in cost of living increases, cost of business increases, business moving away, stagnant wages, etc. They thought only about the big bad immigrants and their own racist prejudices that will come back to bite them. I'm not "telling them what to do". They can certainly flush their country down the crapper all on their own. A very well reasoned response there, which really makes your point very persuasively. What you're basically saying is "waaah, the Brits are so selfish for wanting to be able to decide for themselves, they should supplicate themselves to Wall Street and the Global Financial Industry". Perhaps that's the thing that some people are trying to make a stand against. We're well aware of the Global Financial Industry and the World Bank and they way that it can do absolutely whatever it wants with little, insignificant countries, if it thinks they're in the way of globalization. It was in fact the way that the EU and its European Central Bank treats small, insignificant countries that was a powerful motive for voting against it. And sorry, the kneejerk falling back on the "they're all nasty racists who Hate Foreigners" argument subtracts 50% credibility from your argument by itself. 2 Link to comment Share on other sites More sharing options...
TopToffee Posted July 6, 2016 #20 Share Posted July 6, 2016 17 hours ago, ninjadude said: what makes you think it is not real? "the world continues to function"! Are you like 12? Clearly, you have no retirement plan or stock. Clearly, also you fail to understand the ramifications of what this vote will mean to ordinary Brits. Their life will devolve in cost of living increases, cost of business increases, business moving away, stagnant wages, etc. They thought only about the big bad immigrants and their own Racist Prejudices that will come back to bite them. I'm not "telling them what to do". They can certainly flush their country down the crapper all on their own. Just as a matter of interest.Are you claiming over 17 million people voted on Racist Prejudices.?..your words not mine.!.If so then sir,i for one voted leave and do not have a racist bone in my body.Do i want our country to take more immigrants.?.My answer would be no.Is that through racism..no.!.The majority had a view that should take us out of the EU,the majority are not racist.! 2 Link to comment Share on other sites More sharing options...
bee Posted July 6, 2016 #21 Share Posted July 6, 2016 12 hours ago, ExpandMyMind said: My guess would be Last Week Tonight with John Oliver. . Re that programme - It's a crude propaganda hit piece dressed up as comedy - Just watched it and not ONCE was the EU political union mentioned - it was all presented as just an economic affair and carefully scripted to keep well away from any mention of sovereignty and self determination - . 1 Link to comment Share on other sites More sharing options...
bee Posted July 6, 2016 #22 Share Posted July 6, 2016 . Perhaps it's time to revive the concept of 'Small is Beautiful' --- and go more in that direction - https://en.wikipedia.org/wiki/Small_Is_Beautiful Small Is Beautiful: A Study of Economics As If People Mattered is a collection of essays by British economist E. F. Schumacher. The phrase "Small Is Beautiful" came from a phrase by his teacher Leopold Kohr.[1] It is often used to champion small, appropriate technologies that are believed to empower people more, in contrast with phrases such as "bigger is better". First published in 1973, Small Is Beautiful brought Schumacher's critiques of Western economics to a wider audience during the 1973 energy crisis and emergence of globalization. The Times Literary Supplement ranked Small Is Beautifulamong the 100 most influential books published since World War II.[2] A further edition with commentaries was published in 1999 Link to comment Share on other sites More sharing options...
Unusual Tournament Posted July 6, 2016 #23 Share Posted July 6, 2016 1 hour ago, TopToffee said: Just as a matter of interest.Are you claiming over 17 million people voted on Racist Prejudices.?..your words not mine.!.If so then sir,i for one voted leave and do not have a racist bone in my body.Do i want our country to take more immigrants.?.My answer would be no.Is that through racism..no.!.The majority had a view that should take us out of the EU,the majority are not racist.! ...well you might not have a racist bone in your body but yet xenophobic assaults have disproportionately increased across the board during and since the referendum. Who should wear the blame for that? https://www.theguardian.com/uk-news/2016/jun/27/sadiq-khan-muslim-council-britain-warning-of-post-brexit-racism Link to comment Share on other sites More sharing options...
Unusual Tournament Posted July 6, 2016 #24 Share Posted July 6, 2016 10 hours ago, bee said: . Negative stereotyping of the people who voted to Leave the EU is the main thrust of the propaganda against us - encapsulated in the underlined above - you are either falling for the propaganda (being brainwashed) or are knowingly spreading it - Obama said this about the Brexit vote --- . GLOBALIZATION ---- that's what it's all about --- but who has voted for globalization -- ?--- who wants it if itmeans getting rid of countries and culture as we know them - who decided that there was going to be globalization - ?The negative stereotyping of Brexit is a psychological tool to help prise sovereignty and self determination away frompeople and nations --IMO... If it was about a backlash against globalisation then Britain wouldn't be lowering corporate tax and seeking trade deals to attract it. Link to comment Share on other sites More sharing options...
TopToffee Posted July 6, 2016 #25 Share Posted July 6, 2016 5 hours ago, Leto_loves_melange said: ...well you might not have a racist bone in your body but yet xenophobic assaults have disproportionately increased across the board during and since the referendum. Who should wear the blame for that? https://www.theguardian.com/uk-news/2016/jun/27/sadiq-khan-muslim-council-britain-warning-of-post-brexit-racism Are we not picking the post sir.?.We read and believe what were told.?.I could bring you. 5 hours ago, Leto_loves_melange said: ...well you might not have a racist bone in your body but yet xenophobic assaults have disproportionately increased across the board during and since the referendum. Who should wear the blame for that? https://www.theguardian.com/uk-news/2016/jun/27/sadiq-khan-muslim-council-britain-warning-of-post-brexit-racism Right,racism is wrong.!.But should we be not comparing those figures you produce from BEFORE the referendum.? Link to comment Share on other sites More sharing options...
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