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Everything posted by threetimesdead

  1. Now, that statement made me laugh GTL is not expensive, it is cheaper than petrol at current oil prices Most importantly GTL is not something that you drill for and "there isnt much of it" - there will be plenty of it - it is derivative of natural gas - read about the process and then write/type
  2. It goes life 2012 It is 320kboe a DAY capacity for just 1 plant and BTW my next car is a diesel, not a petrol one
  3. and here is more on producing car fuel from gas http://www.shell.com/home/content/aboutshe...jects_2/pearl// http://en.wikipedia.org/wiki/Pearl_GTL
  4. If you really work in "energy business" you have a very little clue about where your business is going The future of gas is increasingly about transportation GTL Shell Pearl project in Qatar http://en.wikipedia.org/wiki/Gas_to_liquids There are billions being invested by both - Shell and Mobil - in building plants and producing clean diesel fuels from natural gas using Fischer-Tropsch process
  5. The one who will be getting *****ed will be the chap who may just have engineered a second run on UK banks
  6. Clearing my sterling accounts as we speak Good by GBP RIP
  7. The Bank of England’s Monetary Policy Committee meeting and its desision is a CON The committee met and made its decision today But both letters (PDF files) - from King to Darling and from Darling to King - were created yesterday - 5 August if you check out the file properties Governor's letter to the Chancellor (27k) 6 August 2009 Chancellor's letter to the Governor (432k) HM Treasury website, 6 August 2009 http://www.bankofengland.co.uk/publication...ws/2009/063.htm Is that another scam?
  8. That is your last ammunition Satisfied part of the electorate miss the election day (just like you hardly go around telling everyone about good customer service) Anger raises even the most politically apathetic to the polls It isn't about who the majority is for - it is all about greater motivation to go to polls And that is why labour will be finished
  9. The government have just commited a political suicide It is for the first time ever that I personally am convinced now that labour is finished
  10. A very bad day for England and for its people indeed - those people who have to stay or have a mortgage chain around their neck holding them back
  11. Most of it parked by the banks on deposit with BoE as reserves
  12. Is this why Waitrose have just introduced their "Essentials" brand and Lidl with Aldi are massively expanding taking away the marketshare from the big 4?
  13. Oh! Really? Here is todays article for the "imbeciles" http://www.bloomberg.com/apps/news?pid=206...id=a6QmQJUmNKOQ BOJ Said to See Deflation Stretching Through 2011 "Aug. 6 (Bloomberg) -- The Bank of Japan will probably forecast that declines in consumer prices will extend into 2011 even as the economy recovers, according to two people familiar with the matter. The estimate would be included in policy makers’ first economic projections for the financial year ending March 2012, scheduled for release in October, said the people, who declined to be identified ahead of the report. Central bankers have already predicted prices will fall 1.3 percent in the current year and 1 percent in fiscal 2010. Prospects for a third year of deflation make it likely Bank of Japan Governor Masaaki Shirakawa and his colleagues will keep interest rates near zero through next year, analysts said. It would also erode profits at companies such as Aeon Co., Japan’s second-largest retailer, which has been forced to offer discounts to attract consumers whose wages are tumbling. “The Bank of Japan will hold the key rate at 0.1 percent at least through March 2011 to stop deflation from becoming deeply entrenched,†said Jun Ishii, chief fixed-income strategist at Mitsubishi UFJ Securities Co. in Tokyo. “The central bank will probably consider further policy-easing action†should the risk of spiraling deflation mount, he also said. Worst Recession Japan is beginning to emerge from its worst postwar recession as exports improve and manufacturers boost production to replenish inventories. The revival has yet to spread to consumers, who are facing record declines in paychecks and an unemployment rate that economists say will reach an unprecedented 5.8 percent early next year. Deflation may escalate as households, whose spending accounts for more than half of the nation’s gross domestic product, delay purchases on the expectation that goods will get cheaper, restraining a recovery in the world’s second-largest economy. The central bank cut the key overnight rate to 0.1 percent in December, and has since begun buying corporate debt from lenders and offering them unlimited loans backed by collateral to channel funds to companies. The policy board last month extended the credit steps by three months to Dec. 31; some analysts said they’ll need to extend them again. “With little room left to trim the key rate, the Bank of Japan will have no choice but to keep the current extraordinary policy measures, including the credit-easing programs, for a long time,†said Akio Makabe, an economics professor at Shinshu University in Matsumoto, central Japan. Bond Yields Subdued consumer prices have helped keep Japan’s debt yields from climbing even as the government enacted fiscal- stimulus measures. Benchmark 10-year bonds yielded 1.435 percent at 10:16 a.m. in Tokyo, down from the year’s high of 1.57 percent in June and an average of 1.47 percent the past decade. Japan endured years of deflation earlier this decade, only defeating it in 2005. A central bank forecast signaling a return of the trend would come weeks after a new government takes office. The opposition Democratic Party of Japan leads the ruling Liberal Democratic Party in polls ahead of the Aug. 30 general election. The central bank is bound by law to maintain price stability, and policy makers have indicated that inflation is steady within a range of zero to 2 percent. The prospect that prices will stay below that scope will force the central bank to keep the key rate unchanged at least through 2010, according to 10 of 13 economists surveyed by Bloomberg News. Record Decline Prices excluding fresh food, the central bank’s preferred gauge, slid a record 1.7 percent in June, in part because oil traded at about half of last year’s levels. Central bank Deputy Governor Hirohide Yamaguchi said last month that it will take “some time†before consumer prices return to the policy board’s range. He added that there is no need for the bank to implement additional policy-easing measures for now, with the risk of a deflationary spiral being low. Retailers are discounting products in an effort to maintain sales amid the recession. Chiba-based Aeon in July started selling house-brand beer that’s 20 percent cheaper than the equivalent products of major breweries. The company, which last month reported its fourth net loss in five quarters, cut prices on more than 6,000 items in March as rivals including Seven & I Holdings Co. and Seiyu Ltd., a Wal-Mart Stores Inc. unit, also discounted products. Retailers Cut Prices “Retailers are slashing prices to appeal to households, which are tightening their purse strings in response to job losses and wage cuts,†said Ryutaro Kono, chief economist at BNP Paribas in Tokyo. Kono anticipates the Bank of Japan will in October forecast prices will fall about 1 percent in fiscal 2011 because a growing number of consumers and companies are expecting price declines. A measure of the gap between supply and demand in Japan’s economy widened to a record in the three months ended March 31, according to the Cabinet Office. “It’s inevitable that the Bank of Japan will forecast price declines for a third year,†given that slack in the economy has widened and growth will be subdued, said Seiji Shiraishi, chief economist at HSBC Securities Japan Ltd. in Tokyo. “The central bank will continue to focus on the economy’s downside risks.â€
  14. Labour steals because they are poor Tories don't have to steal but still do, which is unfair Isn't UK all about fairness - even when it comes to stealing?
  15. “The fate of the nation and the fate of the currency are one and the same.â€
  16. "Deflation destroys debt through defaults and bankruptcies, hyperinflation by debasement and loss of purchasing power. Which fork in the road will the economy take? One thing is certain: the decision is no longer in the hands of the producers as it should be. It now rests with the financial sector – the bond market: the debt market. In paper fiat land we live and breathe and have our being in a world of debt. History is replete with bouts of deflation and hyperinflation. One distinction that history shows, however, is that hyperinflation ends the life of a currency – it no longer is accepted as the medium of exchange. Although deflation is wrought with pain and suffering, defaults, bankruptcies, job losses, depressions, etc.; the currency is not destroyed. The slate of debt is wiped clean and the game begins anew. Deflation prolongs the life of the currency; hyperinflation destroys the currency. The first allows the game to continue. The second ends the game. " And BTW a part-time troll is still a troll
  17. This is an article about what is going on in US, but UK situation would be similar to that. Check out the very last sentence of the article - The FED wants the banks to make money out of their trades with the FED. Former GS employees move to FED and give it back to their alma mater. http://www.ft.com/cms/s/0/e84383dc-7f8c-11...144feabdc0.html "Wall Street profits from trades with Fed By Henny Sender in New York Published: August 2 2009 23:04 | Last updated: August 2 2009 23:04 Wall Street banks are reaping outsized profits by trading with the Federal Reserve, raising questions about whether the central bank is driving hard enough bargains in its dealings with private sector counterparties, officials and industry executives say. The Fed has emerged as one of Wall Street’s biggest customers during the financial crisis, buying massive amounts of securities to help stabilise the markets. In some cases, such as the market for mortgage-backed securities, the Fed buys more bonds than any other party. EDITOR’S CHOICE Wall Street benefits from Fed and Treasury - Aug-02Editorial: The value of bank independence - Aug-02Opinion: Trichet should convene a trip to the beach - Aug-02In depth: US banks - May-07In depth: Central banks - Mar-09However, the Fed is not a typical market player. In the interests of transparency, it often announces its intention to buy particular securities in advance. A former Fed official said this strategy enables banks to sell these securities to the Fed at an inflated price. The resulting profits represent a relatively hidden form of support for banks, and Wall Street has geared up to take advantage. Barclays, for example, e-mails clients with news on the Fed’s balance sheet, detailing the share of the market in particular securities held by the Fed. “You can make big money trading with the government,†said an executive at one leading investment management firm. “The government is a huge buyer and seller and Wall Street has all the pricing power.†A former official of the US Treasury and the Fed said the situation had reached the point that “everyone games them. Their transparency hurts them. Everyone picks their pocket.†The central bank’s approach to securities purchases was defended by William Dudley, president of the New York Fed, which is responsible for market operations. “We believe that opting for transparency is a greater good,†he said. “If we didn’t have transparency, we’d be criticised on other grounds.†However, another official familiar with the matter said the central bank “has heard that dealers load up on securities to sell to the Fed. There is concern, but policy goals override other considerations.†Barney Frank, chairman of the House financial services committee, said the potential profiteering may be part of the price for stabilising the financial system. “You can’t rescue the credit system without benefiting some of the people in it.†Still, Mr Frank said Congress would be watching. “We don’t want the Fed to drive the hardest possible bargain, but we don’t want them to get ripped off.†The growing Fed activity has coincided with a general widening of market spreads – the difference between bid and offer prices – as the number of market participants declines. Wider spreads enable banks, in their capacity as market-makers, to make more profit. Larry Fink, chief executive of money manager BlackRock, has described Wall Street’s trading profits as “luxuriousâ€, reflecting the banks’ ability to take advantage of diminished competition. “Bid-offer spreads have remained unusually wide, notwithstanding the normalisation of financial markets,†said Mohamed El-Erian, chief executive of fund manager Pimco in Newport Beach, California. Spreads narrowed dramatically during the years of the credit bubble. Brad Hintz, an analyst at AllianceBernstein, said he doubted that spreads would ever return to those levels, a development that could be pleasing to the Fed. “They want to help Wall Street make money,†he said."
  18. My guess, and that is just a guess, that the ultimate beneficiaries are commercial banks They buy treasuries from the govt and sell them to BoE reporting a profit and paying themselves a bonus If the chain is correct that would be one of the many ways of "mending banks' balance sheets" - they make receive commission on trading newly printed money with no substance - same as just printing money and giving them directly to the banks For BoE the cost is covered by printed money - effectively no cost For the treasury - increase in narional debt For bankers - stronger balance sheets and new homes in C&W (WC)
  19. QE money is not backed by anything is not funded by anyone - it is created out of thin air. It has then been used to buy treasury gilts to fund government borrowing and pay for the public spending. So, it is the other way around
  20. And the guy who cooked up the toxic broth thinking that stocking sheleves at Asda is all you need to know to run mortgages at Halifax is soon to be filling his boots once again as CEO of Alliance Boots - corporate appointment committees are never short of idiots
  21. I don't think there is an institution, group of people or a person in this country that has more timely, more in-depth and more wide-ranging economic data than the BoE, some of that data well classified from the rest the rest be it on here or elsewhere
  22. http://www.bankofengland.co.uk/publication...letin/index.htm "The Quarterly Bulletin provides regular commentary on market developments and UK monetary policy operations."
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