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Global financial system implosion begins



Still think the US chapter has a way to run, but agree thinking that fuse is running
Sounds like the author is well placed to brief us on the matter:
Evans-Pritchard is the author of a 1997 biography of Bill Clinton, entitled The Secret Life of Bill Clinton: The Unreported Stories which was published by conservative publishing firm Regnery Publishing.[3] In 1997 Salon called him "The Pied Piper of the Clinton Conspiracists" in a review that said Evans-Pritchard wrote about the Oklahoma City bombing conspiracy theory as well as other conspiracy theories related to Clinton, including the death of Vince Foster.[4]
 
Sounds like the author is well placed to brief us on the matter:
Evans-Pritchard is the author of a 1997 biography of Bill Clinton, entitled The Secret Life of Bill Clinton: The Unreported Stories which was published by conservative publishing firm Regnery Publishing.[3] In 1997 Salon called him "The Pied Piper of the Clinton Conspiracists" in a review that said Evans-Pritchard wrote about the Oklahoma City bombing conspiracy theory as well as other conspiracy theories related to Clinton, including the death of Vince Foster.[4]
Been the Telegraph's Brussels corres for a long time.


So if it does develop the way he is suggesting are you going to start citing him with regards Clinton then?


I say that not cos I care about the Clinton thing but finding the man not ball stuff around what's going on increasingly desperate....

Interesting that the banks that have gone so far hasn't even been the commercial real estate yet....and the negative yield curve on 2 -20 year bonds is defo a real thing.

Dimond (chief exec of the Worlds largest bank saying banking crisis is under control 2 days b4 2 more banks go underwater...I think what he meant was 'now have mechanisms in place for the bigger beasts to assest mine the distressed assets of the smaller ones as they drown.
 
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Been the Telegraph's Brussels corres for a long time.


So if it does develop the way he is suggesting are you going to start citing him with regards Clinton then?


I say that not cos I care about the Clinton thing but finding the man not ball stuff around what's going on increasingly desperate....

Interesting that the banks that have gone so far hasn't even been the commercial real estate yet....and the negative yield curve on 2 -20 year bonds is defo a real thing.

Dimond (chief exec of the Worlds largest bank saying banking crisis is under control 2 days b4 2 more banks go underwater...I think what he meant was 'now have mechanisms in place for the bigger beasts to assest mine the distressed assets of the smaller ones as they drown.
Just saying myself.
The Telegraph of all papers is the most likely to slag off the ECB and European banking.
Evans-Pritchard is obviously away with the fairies on conspiracies. I had wondered whether an article from Jeremy Warner might have carried more weight - but he doesn't even rate a Wikipedia entry.
All the article says is that there is trouble at t'mill - and the EU mechanisms for dealing with this are uncertain.
Thanks for the archive url by the way. If the article had been behind the Telegraph pay wall I wouldn't have read it at all!
 
Interested, but what does this show and what do you think about it?
Date of when US debt ceiling needs resolving...Read that associatied article... Zerohedge is a bit of a cunt to be so dismissive of Federal employees.Last time through saw a lot of them on food stamps. and things are worse now
 
Interested, but what does this show and what do you think about it?
I think its the difference between anticipated Fed Funds rate on 31st May (the final day for sorting out the debt ceiling) and 1st June the day after the crunch.
Zerohedge is a highly erratic and political blog - see below
 
I think its the difference between anticipated Fed Funds rate on 31st May (the final day for sorting out the debt ceiling) and 1st June the day after the crunch.
Zerohedge is a highly erratic and political blog - see below
It's the markets telling the politicians the crunch date is sooner than they have been saying


Yellen was reckoning July a month ago
 
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This following on from the Nationwide announcement of new fixed term rates from today
I tried myself - as a non-customer I could get a 2 Year Nationwide fix at 4.99% (base + 0.49%) on £500,000 where the property is worth £500,000 (according to the Nationwide website). My heart is bleeding for all those buy to let entrepreneurs.

Even more it's bleeding for myself. I have absolutely no faith that when my 3.3% fixed rate ISA ends in October I will be able to get anything above - say 2%
 
This following on from the Nationwide announcement of new fixed term rates from today
I tried myself - as a non-customer I could get a 2 Year Nationwide fix at 4.99% (base + 0.49%) on £500,000 where the property is worth £500,000 (according to the Nationwide website). My heart is bleeding for all those buy to let entrepreneurs.

Even more it's bleeding for myself. I have absolutely no faith that when my 3.3% fixed rate ISA ends in October I will be able to get anything above - say 2%

Because you think the interest rate will halve by October?

Excellent Truss level prediction.

Why don’t you just withdraw your money and fix it again?

Probably get the penalty back in increased rate.
 
Because you think the interest rate will halve by October?

Excellent Truss level prediction.

Why don’t you just withdraw your money and fix it again?

Probably get the penalty back in increased rate.
I'm not with the Nationwide btw..
I hadn't thought about your suggestion of accepting a penalty.
The rate I got was the immediate post Truss rate, whereas it had been languishing at 0.05% for a couple of years.
I see the current rate in my institution is 4.2% for a year, 3.3% for 5 years for ISAs. They are obviously not expecting quick major changes at the moment.
There is of course an interest rate thread on here. Low interest rates on savings
 
I'm not with the Nationwide btw..
I hadn't thought about your suggestion of accepting a penalty.
The rate I got was the immediate post Truss rate, whereas it had been languishing at 0.05% for a couple of years.
I see the current rate in my institution is 4.2% for a year, 3.3% for 5 years for ISAs. They are obviously not expecting quick major changes at the moment.
There is of course an interest rate thread on here. Low interest rates on savings

Ditch halifax and put it where the rate is highest.
 
Ditch halifax and put it where the rate is highest.
My next door neighbour, whose tenant has fucked up my gutter, has as £1 million pound mortgage with Kent Reliance (sorry One Savings) on a house in the Stockwell Park Estate.
He's got eight mortgages (at least) and a number of companies - one of which has most "members" in Hong Kong.
That's what's wrong with this country.
Promiscuous fuck-yu landlords a savings system which is in chaos.
Here's another of these entrepreneurs 10 doors down
316-26-5-23 b.jpg
Typical Lambeth - couldn't CPO this 20 years ago and turn it into a council house.
No - auction it off to a Chinese entrepreneur - then block his planning application - threatening the stability of the whole terrace.
 
Highest rate will always be from the institution most desperate for liquidity . Not necessarily the smartest move

All covered by the same guarantee. Plus its just companies wanting to lend it out as part of their mortgages.

Calling it liquidity makes it sound rather scarier no?
 
All covered by the same guarantee. Plus its just companies wanting to lend it out as part of their mortgages.

Calling it liquidity makes it sound rather scarier no?
Just remembering 2008 and all the councils that were forced (due to it being the highest rate) into putting their money into Iceland.

Or earlier this year when Credit Swiss had the most attractive savings rate....it's a bit of a tell
 
Just remembering 2008 and all the councils that were forced (due to it being the highest rate) into putting their money into Iceland.

Or earlier this year when Credit Swiss had the most attractive savings rate....it's a bit of a tell

Well Virgin Money and Natwest are two of the top three :eek:
 
Just remembering 2008 and all the councils that were forced (due to it being the highest rate) into putting their money into Iceland.

Or earlier this year when Credit Swiss had the most attractive savings rate....it's a bit of a tell
Then there was this: Local authorities swaps litigation - Wikipedia
strangely Lambeth didn't get into that. But they did set up Lamsat - a vehicle which borrowed from Allied Irish Bank, the loans being charges against Lambeth Town Hall and Mary Seacole House (Social Services HQ)
Southwark had a similar scheme. No doubt Ken Clark made it his business to unscramble all that as it was another way of by-passing government restrictions on council spending.
 
Credit and banking crash? length 15 minutes


What's he on about? Right at the beginning he cites a report on Zerohedge. which should indicate where he's coming from.
The comments under the video are more interesting than the video itself - all the way from a rich widow who favours managed funds to "Donald Trump Uncensored" who accuses him of doing a Janet Yellen impersonation!
 
What's he on about? Right at the beginning he cites a report on Zerohedge. which should indicate where he's coming from.
The comments under the video are more interesting than the video itself - all the way from a rich widow who favours managed funds to "Donald Trump Uncensored" who accuses him of doing a Janet Yellen impersonation!
The end of the world is nigh
 
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