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Posts posted by RDW

  1. http://blogs.telegraph.co.uk/finance/edmundconway/100005401/imf-cannot-afford-to-bail-out-the-rest-of-southern-europe/

    Looks like Sunday could be interesting, I wonder what will happen to the markets on Monday if the IMF say no!!!

    Looks like the IMF is going to need to gets it's magic printing press up and running the world is running out of fiat and we need more of it to fix the financial system....

    More rule bending required I suspect

  2. Heh. that's a lot of eggs in one basket.

    but such is life.

    Yes, you pay your money and make your choice,

    I thought gold / commodities were going to fly, hence all the gold and miner stocks, and the pound would tank hence lot's of foreign earning ftse stocks.

  3. Yes: I can't believe Australia did this alone without at least a silent nod from Brazil, Canada, Chile, South Africa etc.

    +1, mine are getting mullered all over the planet

    Alamos Gold Inc. AGI 14.65* -0.27 (-1.81%)

    Eldorado Gold Corporatio... ELD 15.58* -0.11 (-0.70%)

    AngloGold Ashanti Ltd... AU 41.36 -0.63 (-1.50%)

    Compania de Minas... BVN 31.89 -0.49 (-1.51%)

    Goldcorp Inc. (USA) GG 42.52 -0.18 (-0.42%)

    Randgold Resources... RRS 5,415.00* -170.00 (-3.04%)

    Fresnillo Plc FRES 763.50* -38.00 (-4.74%)

    Lihir Gold Limited (ADR) LIHR 33.76 +0.17 (0.51%)

    Newcrest Mining Limited NCM 30.69* -1.37 (-4.27%)

    Kinross Gold Corp. (USA) KGC 18.46 -0.24 (-1.28%)

    Newmont Mining Corporati... NEM 54.11 -0.82 (-1.49%)

    Not a good day for my gold and other portfolio, and the rest did not fair much better

    ie UK Share Portfolio

    AstraZeneca plc AZN 2,910.00* +21.00 (0.73%)

    BHP Billiton plc BLT 1,865.00* -160.50 (-7.92%)

    BAE Systems plc BA 348.90* +4.50 (1.31%)

    Tullow Oil plc TLW 1,091.00* -56.00 (-4.88%)

    Rio Tinto plc RIO 3,162.50* -216.50 (-6.41%)

    Royal Dutch Shell plc RDSB 1,902.00* -73.00 (-3.70%)

    GlaxoSmithKline plc GSK 1,214.50* +3.50 (0.29%)

    BP plc BP 558.50* -17.00 (-2.95%)

    Vodafone Group plc VOD 141.95* -3.40 (-2.34%)

    HSBC Holdings plc HSBA 655.30* -12.70 (-1.90%)

    All in all a bit of a disaster today


  4. From the Grauniad coments

    Oh my giddy Aunt! . . .

    Actually you're right John . . . clearly this woman is a Tory mole sent into deep cover in the 1970's and covering her tracks by VOTING LABOUR ALL HER LIFE and by having a husband who VOTED LABOUR ALL HIS LIFE and by doing this, they were in-fact just waiting for the day that they would hear their trigger word from Tory Central Office and their Murdoch Masters (Election!) to entrap Gordon Brown into engaging in conversation and subtly imprinting on his mind the phrase "That was a bloody disaster - who thought that one up - that woman was a BIGOT".

    Honestly, John, these Tories and the Murdoch Press (who cunningly disguised their Tory tendencies by all supporting the Labour party for 13 years) really play a long game, don't they.

    Of course you're right - it's a conspiracy.

    Now all together . . . "INFAMY, INFAMY; They've all got it INFAMY" :o)

    (this comment will be deleted in in the next 5 minutes in the interests of free speech and the Guardians scrupulous impartiality)

  5. No it doesn't - that's the quickest route to bankruptcy.

    It needs to be cut steadily and carefully in a way which allows the economy to recover and does so in a way which is credible.

    That's a tough act and the main parties need to talk convincingly about how they're going to do it. The first politician who can articulate this gets my vote.

    So if I lose my job and do not reduce my spending severely, the first couple of months I live on my reduncancy money, then my savings, then my credit cards, then I borrow money from my children, this is 'ok' as long as I can get another job with in say 12 months, but if I can't ?

    We are spending too much on 'nice to haves' ie the majority of the public sector, and this needs to be cut almost immediately that a problem is realized.

    The kids may not be happy about losing the sky box (metaphor for the five a day advisors) but they'll thank me at the end of 12 months when the annual subscription saved buys another months food.

  6. Lock yourself in a room, barricade the doors and windows, hide behind the sofa and start on those baked beans.

    I reckon one of two thing will happen once the election is over.

    1. Within weeks, if not days, huge financial crisis for UK, IRs rise dramatically, house prices crash.

    2. Nothing changes and we carry on as we are now - aimlessly.

    Oh, there is a;

    3. Hung Parliament - at which point we can get either 1 or 2 above.

    My bet is that the Tories will win.

    Within the first week will put together a proper balance sheet for UK

    PLC, including


    Public Sector pension to FRS17,

    Nuclear decommissioning and so on,

    Then decide that the country is unsortable and go to the imf.

    What happens after that, well you can speculate better than me.

  7. Gordon Brown selling the UK's gold for a song...

    Moron, unwitting patsy, or servant to an unseen master.

    Either option = Gordon Brown committed treason.

    A treasonous villain, and in time he will be branded as such.

    He sold it because the deluded f wit had decided that he had 'abolished boom and bust'. and if you abolish boom abd bust you know longer have any need for savings.

  8. http://www.timesonline.co.uk/tol/news/politics/article7078834.ece

    GORDON BROWN has delivered a final humiliation to the armed forces by ordering admirals, generals and air chief marshals to travel second class to help cut costs.

    All armed forces personnel must now sit in standard class on trains and planes, whatever their rank, under a new rule that has provoked anger across the political parties.

    Denis MacShane, the Labour MP and a former foreign minister, said: “Surely there are limits to how much humiliation we impose on senior officers.”

    Major-General Patrick Cordingley, who commanded the 7th Armoured Brigade — the Desert Rats — during the first Gulf war, said there were “very good reasons” to allow first-class travel for senior personnel.

    "I couldn’t care less about officers’ personal comfort, but there are practical reasons why this is a pity. There are often times when you are looking at restricted papers that would be of interest to people such as journalists. If it is on a computer, people can look over and read quite happily over your shoulder in standard class,” he said.

    MPs are still entitled to first-class train travel, and there is no plan to restrict first-class travel for government ministers.

    Military coup anyone ?

    Good job all of our finest are kept busy fighting unwinable wars.

  9. The BBC need to educate and Nick Robinson has gone a little way in doing that with his investigative reporting. Too little too late in my eyes though.

    Yes, the BBC need to remember that they are a PUBLIC SERVICE BROADCASTER, paid for via taxation and not the media wing of the present government.

    If this does all go to hell in a handcart after the general election, while the bbc have been pumping out property porn and not asking the right questions, there will be an argument for putting a few BBC executives in the dock for dereliction of duty as well as the politicians.

  10. France and Germany have reached a deal on a financing plan to help debt-laden Greece, which will include IMF help.

    Officials in Brussels say the package - yet to be agreed by other eurozone states - will total 23bn euros (£21bn).

    The French presidency said there would be "very precise conditions" under which the 16 eurozone countries "could be led to intervene" to help Greece.

    Co-ordinated bilateral loans and IMF loans are envisaged. EU leaders are now poised to discuss the plan.


  11. If I were a public sector worker I think I would be bricking it at the moment, although the rediculous redundancy payments should make it a better pill to swallow. Where I work it is one week per month of service and a reference.

    What I found staggering was the proposed saving of £550 million of sickness from the nhs per annum, how many people have to work just to pay the nhs sickies ? I am astounded.

  12. Budget 2010: bond vigilantes slam Budget as UK downgrade moves closer

    If Alistair Darling was to convince global investors that Britain deserves to keep its AAA rating and that its debt is more or less comparable to the bonds of sovereign peers, he needed to tighten the Governments fiscal belt by a couple of notches at least.

    Pledging to raise real public spending by 2.2pc over the next year is not what markets had in mind. The worlds largest bond PIMCO warned earlier this year that Britains Debt Management Office is sitting on nitroglycerine, and nothing changed its view today.


  13. Except she didn't actually "screw" it.

    This place depresses me at times with it's "f*ck everyone else, I'm alright Jack" attitudes.

    But I'm not 'alright jack' am I ?

    I cann't be responsible and pay into a pension, because I have to pay for someone who voted to make me liable for their pension 40 years ago, before I was born.

    This is simillar to me running up a bill and then saying to the debt collector, no worry come and chase my son for it in 20 years time, it's immoral and I wouldn't doubt also illeagal.

    This hypothetical teacher knew she was going to retire, but did naff all about it apart from push her liability onto someone who wasn't even born.

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