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About Lenelby

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  1. The equal benefits argument was settled for the private sector by the ECJ in Barber v Guardian Royal Exchange (1990). However the decision was not retrospective so only applied after 17 May 1990. It seems illogical that different rules should apply with Government pensions when this has been the case for 30 years for private schemes. It should have been addressed much earlier.
  2. Indeed. I always try and buy British where I can. However many people regard obtaining food from EU as being more ‘environmentally friendly’ than from further afield, but this is not always true. Tomatoes grown in the U.K. out of season may require more energy than those grown in Spain or Morocco despite the miles travelled. Fresh, local, in season mostly wins wherever.
  3. Many factors as you describe. Some places are better suited to producing a product than others. Lamb in NZ for example. Also sea transport much more efficient per mile than road. Bananas from Jamaica can be more environmentally friendly than tomatoes from Spain etc.
  4. More importantly it also correlates to a fair degree to the price of oil which is required to produce and transport it.
  5. GDP isn’t a particularly good measure and it’s difficult to compare because countries with a bigger increase may have been coming off a bigger decline. Also spend a load of borrowed money on a useless track and trace; all counts towards GDP. I think some countries may count health spending differently in GDP calcs (Germany?) but this is again, not very productive growth
  6. Electric vehicles only have a payback because of enormous subsidy. If they were taxed at the same level per mile as ICE the cost would rise, which the government will need to do to increase revenue. If it doesn’t then Jevons paradox would kick in and energy use would like rise as people would be able to drive more or use less efficient electric vehicles. Somehow marketing cars as green transport is really a false narrative given how much energy is used in the manufacture and use and bitcoins energy use is so small compared with other things. Gold mining for example (there really isn’t a need for any more gold)
  7. Agree with all the above. Worth listening to the latest investors podcast with Plan B and Dr Adam Beck from about 57 mins. Discusses the highly questionable use of statistics with many of these projections.
  8. Often read The Register aka El Reg to us IT folk and I’m surprised in the comments just how much hostility there is towards Bitcoin when articles are published. Especially considering many would normally be fans of open source, distributed software and distrustful of Microsoft, Apple etc. But I’m sure judging many comments that many have no real knowledge apart from mainstream media articles. My colleagues have no interest in Bitcoin but also no interest in finance generally.
  9. Not sure people generally feel that it will supersede fiat. More like an alternative to gold to protect from debasement of currency. Criminals have been running these scams using fiat well before crypto came along. Plenty are old fashioned enough to still use dollars, euros and pounds even today.
  10. Story seems to be man with a gambling habit discovers Bitcoin trading (where websites have to legally display the % of customers that lose money and to save anyone the trouble of looking it is very high), lady sees a ‘once in a lifetime’ quickly don’t miss out investment opportunity (aka a scam) and a third spends some time during lockdown reading about Bitcoin and investing some of his money. Only one has more money than he started with and it’s not hard to work out who it is.
  11. Thanks @Buffer Bear Good interview. Interesting about his take on institutions not really entering the space yet, which is what I have been sensing is the case. On the other hand if they do it could create a bun fight for coins. Maybe this market cycle is too soon or maybe the halving effect is actually overblown; 900 coins a day is tiny compared with existing supply. I don’t know what to think about his green wrapper but I can see why so many believe this lack of fungibility is dangerous in a way I hadn’t fully considered. I still don’t think it a great issue as it’s largely cosmetic dressing and once the industry moves away from using coal (which I think is a legacy effect from China having redundant power capacity in some remote areas due to central planning) then it might become less important. These green coins might just be traded OTC with institutions or many hodled anyway. New coins are such a small part of the picture. I have shares in Argo in my ISA but unlike my Bitcoin my average price is fairly high for those. They may just have to remain in the drawer for a while.
  12. This is just the funniest thing ever. We have now moved on from predicting the death of Bitcoin to saying Bitcoin will be the death of us. I could never have thought of this bit of FUD. Top marks Sir! The only thing I see dying is Keynesian economics.
  13. Amazon was never about just selling books and DVDs. Bezo's knew the power of the network effect and data driven analytics. If a lady bought a book on pregnancy then there's a good chance that she might soon be buying nappies. This was not something Barnes and Noble or Waterstone's considered; many incumbents never even considered the Internet was even that relevant at the time.
  14. Regarding Bitcoin I think this is a very good site for anyone who wants to find out more - casebitcoin.com An interview in the DT today has Andy Haldane using his impending departure from the BoE to break the official line on inflation. He is clearly fighting a losing battle. An extraordinary comment being “It is hard to find very much, whether it is goods or assets, that is not going up right now, with the dishonourable exception of bitcoin." Clearly he doesn't understand or like bitcoin but looking at the price over the past 12 months it is NOT trending down against the pound. The ONLY that I can think of that is down in price is the interest on cash (7) in my savings account. If inflation is anything but transitory then bonds (5) are trash. Crypto and gold & silver (2,6) may look expensive now but might get much more so! A classic car or art (4) but would be great, (really want one) but I need somewhere to store it which would be a new house (1). So a catch 22 really. With inflation long term fixed rate debt would be marvelous as long as you can service the debt and the assets are not tumbling in value.
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