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Trichet: We Won't Bail You Out Twice

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Guest sillybear2

Yeah right, they used to say "we won't bail you out at all", and the US government used to say that those who bought Fannie and Freddie bonds on the assumption of implicit government backing were deluded.

The last couple of years have removed all doubt, the banks will get everything they ask for, fresh equity, QE, ZIRP, various junk for gilt schemes. I guess Trichet might be right in an another sense, the next time they screw up it will be on such a scale that not even governments will be able to save their skin.

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The last couple of years have removed all doubt, the banks will get everything they ask for, fresh equity, QE, ZIRP, various junk for gilt schemes. I guess Trichet might be right in an another sense, the next time they screw up it will be on such a scale that not even governments will be able to save their skin.

Baka! You have so little faith in the magic printing press! :rolleyes:

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Guest sillybear2

Baka! You have so little faith in the magic printing press! :rolleyes:

:lol: Run them for long enough and it would make a Greek riot look like a village tea party, people will only stand for so much theft.

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Yeah right, they used to say "we won't bail you out at all", and the US government used to say that those who bought Fannie and Freddie bonds on the assumption of implicit government backing were deluded.

The last couple of years have removed all doubt, the banks will get everything they ask for, fresh equity, QE, ZIRP, various junk for gilt schemes. I guess Trichet might be right in an another sense, the next time they screw up it will be on such a scale that not even governments will be able to save their skin.

yeah, but, you need to see the big picture....they MUST be bailed out otherwise...tell me just who is going to lend Governments the money they need?? who? ha?

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Guest sillybear2

yeah, but, you need to see the big picture....they MUST be bailed out otherwise...tell me just who is going to lend Governments the money they need?? who? ha?

Hrm, let's see :-

Central bank > parasites > government

Yup, without the middlemen we're f****d, best to bail them out.

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Actually,I think canada have come up with a good idea.

it's the contingency fund.

...in the good times,a proportion of bank profit get's put into a rainy-day pot....and you know the pot will be finite,so take a few less risks.

when things go pete tong,you dip into the pot...but you know the pot is finite so it's spent on useful stuff,not champagne suppers.

if the money runs out then it's tough titty.....the weaklings get asset-stripped and swallowed up by the more prudent.

THAT'S fiscal discipline.

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Actually,I think canada have come up with a good idea.

it's the contingency fund.

...in the good times,a proportion of bank profit get's put into a rainy-day pot....and you know the pot will be finite,so take a few less risks.

when things go pete tong,you dip into the pot...but you know the pot is finite so it's spent on useful stuff,not champagne suppers.

if the money runs out then it's tough titty.....the weaklings get asset-stripped and swallowed up by the more prudent.

THAT'S fiscal discipline.

seems like a pretty pointless idea to me much like Keynesianism, any contingency fund / additional taxing will at some point be removed and probably spent, normally just a few years before the crisis because just before it happens it is always a new all glorious era of enlightenment, prosperity and intelligence, at such a point it is always a new paradigm making previous requirements redundant. The richest period of maximum prosperity is right at the point where the collapse is about to happen and at that point there is never any need for such prudent measures, they are anti business and all that. Next they will suggest a new rule maybe something like splitting up investment and retail banking

Edited by Tamara De Lempicka

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Actually,I think canada have come up with a good idea.

it's the contingency fund.

...in the good times,a proportion of bank profit get's put into a rainy-day pot....and you know the pot will be finite,so take a few less risks.

when things go pete tong,you dip into the pot...but you know the pot is finite so it's spent on useful stuff,not champagne suppers.

if the money runs out then it's tough titty.....the weaklings get asset-stripped and swallowed up by the more prudent.

THAT'S fiscal discipline.

we have that here...its called the FSCS...4.2 ish billion set aside for contingencies by the FSA. not for banks...for customers of banks.

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Guest sillybear2

That's Trichet out the door then.

No chance, it's the same man who is currently bailing out French banks via the backdoor by buying lots of junky greek bonds. I guess he has to trash talk his chums in public to retain some degree of credibility.

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Trichet reminds me of the guy from the Iraqi ministry of infromation... in recent times more and more.

mss.jpg

No-one sure if the guy was nuts or a genius.

He said the Iraqi army would fight. This forced the UK & US forces to proceed with caution, expecting attack an minute.

Meanwhile Saddam was disbanding the republican guard and breaking them up into resistance cells, setting up networks, squirreling away guns, ammo, explosives, cash etc. They said America would be stuck in a war they couldn't win, and they were right.

No-one knows it Comical Ali was Deluded or just buying time. History suggests the latter.

mis-information is often more powerful than information, and resistance it seems, is not always futile.

Edited by TaxAbuserOfTheWeek

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:lol: Run them for long enough and it would make a Greek riot look like a village tea party, people will only stand for so much theft.

Maybe somewhere else but in the UK, as long as the football is on, Eastenders or Corniation street is on, the UK people by enlarge will never riot and start taking the place apart.

Heavily armed infantry are also in place to prevent such disturbances tianamen style.

In Yugoslavia the printers went crazy and there was no mass unrest, people complained now and again but no widescale bringing rope and AK47s to government.

Hell the government has been increasing the money supply for the past 14 years at 10% and there have been no riots. The PEOPLE LOVE THE PRINTING PRESS they desire more printing and more theft from the government. How else can you explain the lack of insurrection against the government?

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Maybe somewhere else but in the UK, as long as the football is on, Eastenders or Corniation street is on, the UK people by enlarge will never riot and start taking the place apart.

Heavily armed infantry are also in place to prevent such disturbances tianamen style.

In Yugoslavia the printers went crazy and there was no mass unrest, people complained now and again but no widescale bringing rope and AK47s to government.

Hell the government has been increasing the money supply for the past 14 years at 10% and there have been no riots. The PEOPLE LOVE THE PRINTING PRESS they desire more printing and more theft from the government. How else can you explain the lack of insurrection against the government?

no, wait till the supermarkets are closed...imagine the christmas shutdown 100 times worse.

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Guest sillybear2

no, wait till the supermarkets are closed...imagine the christmas shutdown 100 times worse.

Mum's gone to Iceland and come back with half an onion and a moldy cocktail sausage.

Edited by sillybear2

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Idea for Trichet:

Replace the EUR with golden eggs.

Then threaten the goose that if it doesn't keep on laying, it won't be fed any more.

Guaranteed to work.

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Idea for Trichet:

Replace the EUR with golden eggs.

Then threaten the goose that if it doesn't keep on laying, it won't be fed any more.

Guaranteed to work.

Governments are running out of money, there is no lender of last resort for governments, i can tell you whats goign to happen but i'll keep it to myself.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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