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cashinmattress

Au Revoir Frenchies

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El-Erian just screamed 'shut their ass down' from New York to Paris.

French banks have 1% capital. No polemic is needed. This is a solvency and liquidty crisis.

Notice below the bold quote from the CEO of the world's largest bond fund. Not to overstate the obvious, but 1% capital ratios imply leverage of 100:1.

Calling Helicopter Ben...Sarkozy would like you at the launch pad, immediately.

How soon does Bernanke's central bank rain dance begin?

Meanwhile, high-profile warnings over the state of Europe’s banks, particularly in France, came from a variety of sources.

Mohammed El-Erian, chief executive of bond fund giant Pimco, warned in an op-ed in the Financial Times published Thursday that French banks could tip Europe back into recession.

Private institutions around the world have sharply reduced short-term lending to French banks, while a plunge in bank shares since August has left bank equity trading at a 50% discount to tangible book value on average, he wrote.

At the same time, El-Erian noted that the ratio of market capital to total assets for the sector has fallen to 1% to 1.5% — far short of the range of 6% to 8% typically seen for healthier banks.

“These are all signs of an institutional run on French banks,” he wrote. “If it persists, the banks would have no choice but to de-lever their balance sheets in a very drastic and disorderly fashion.”

Yes, very bad outlook for the French.

It's bad for us all and has been for a long time. Even the capital ratios of 8% wouldn't go very far in preventing even a minor bank run or collapse in one of a banks investment arms.

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Yes, very bad outlook for the French.

It's bad for us all and has been for a long time. Even the capital ratios of 8% wouldn't go very far in preventing even a minor bank run or collapse in one of a banks investment arms.

What about Greek banks?

I'd be surprised that anybody left their money in a greek bank at the moment,

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What about Greek banks?

I'd be surprised that anybody left their money in a greek bank at the moment,

Who gives a flying fvck about the Greeks? They aren't holding vast reserves of nuclear weapons, nor have they international clout.

Yes, be worried about the French and their characteristic flights to anarchy when SHTF.

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Yes, very bad outlook for the French.

It's bad for us all and has been for a long time. Even the capital ratios of 8% wouldn't go very far in preventing even a minor bank run or collapse in one of a banks investment arms.

http://www.******france.com/

You forgot to mention that your so called serious link is actually a blog called the Daily Bail

Nice photo of Christine Lagarde on the BBC but when ?

This is an american blog i enjoyed reading the 10 readers comments all wrote by the same person the Daily Bail!

Anyway if you are looking for even more American hatred of the French well heres the link F*ck France

You can then post away your to your hearts delight !

BTW you cannot change a bully nor can you change a xenophobe

I really enjoy the way in which the xenophobes use Greece or Europe as an excuse to vent there hatred for France

Hiding on a ***** forum :lol:

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http://www.******france.com/

You forgot to mention that your so called serious link is actually a blog called the Daily Bail

Nice photo of Christine Lagarde on the BBC but when ?

This is an american blog i enjoyed reading the 10 readers comments all wrote by the same person the Daily Bail!

Anyway if you are looking for even more American hatred of the French well heres the link F*ck France

You can then post away your to your hearts delight !

BTW you cannot change a bully nor can you change a xenophobe

I really enjoy the way in which the xenophobes use Greece or Europe as an excuse to vent there hatred for France

Hiding on a ***** forum :lol:

To be fair - even the French hate the French.

:blink:

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http://www.******france.com/

You forgot to mention that your so called serious link is actually a blog called the Daily Bail

Nice photo of Christine Lagarde on the BBC but when ?

This is an american blog i enjoyed reading the 10 readers comments all wrote by the same person the Daily Bail!

Anyway if you are looking for even more American hatred of the French well heres the link F*ck France

You can then post away your to your hearts delight !

BTW you cannot change a bully nor can you change a xenophobe

I really enjoy the way in which the xenophobes use Greece or Europe as an excuse to vent there hatred for France

Hiding on a ***** forum :lol:

How is posting about 1% capital reserves in your banking system xenophobic, assuming you are French?

Perhaps you need a more positive self identity if some post on an internet puts a chink in your ego so easily.

But on the plus side, my spidey sense says your but one sentence from breaking Godwin's Law

Edited by cashinmattress

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http://www.******france.com/

You forgot to mention that your so called serious link is actually a blog called the Daily Bail

Nice photo of Christine Lagarde on the BBC but when ?

This is an american blog i enjoyed reading the 10 readers comments all wrote by the same person the Daily Bail!

Anyway if you are looking for even more American hatred of the French well heres the link F*ck France

You can then post away your to your hearts delight !

BTW you cannot change a bully nor can you change a xenophobe

I really enjoy the way in which the xenophobes use Greece or Europe as an excuse to vent there hatred for France

Hiding on a ***** forum :lol:

WTF are you blithering on about??

Seriously STFU

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Who gives a flying fvck about the Greeks? They aren't holding vast reserves of nuclear weapons, nor have they international clout.

Yes, be worried about the French and their characteristic flights to anarchy when SHTF.

Quite. As I've said a few times lately, the Foreign Office must be loving this... just like old times! :P

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Who gives a flying fvck about the Greeks? They aren't holding vast reserves of nuclear weapons, nor have they international clout.

Yes, be worried about the French and their characteristic flights to anarchy when SHTF.

That's why they have a foreign legion.

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Quite. As I've said a few times lately, the Foreign Office must be loving this... just like old times! :P

Well the Foreign Secretary seems to be enjoying himself.

Nothing is more satisfying than saying 'I told you so' over and over again.

:blink:

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Well the Foreign Secretary seems to be enjoying himself.

Nothing is more satisfying than saying 'I told you so' over and over again.

:blink:

Hear hear! Hague probably cannot believe his luck - not only is he proved right ('and for the right reasons' as Oborne puts it in his new book, Guilty Men) from the days when he was Tory leader, but also during the Blair years (between his leadership and Cameron becoming Tory leader) he wrote a number of history books on British foreign policy (the one I have is on Pitt, eg British politics during the long Napoleonic wars) and so to find himself as Foreign Secretary of Great Britain just as Europe and the World is kicking off, and at possibly the moment when Britain can mould Europe into a two-tier system, resulting in continuing British sovereignty... bloody hell. B)

Edited by Chuffy Chuffnell

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Hear hear! Hague probably cannot believe his luck - not only is he proved right ('and for the right reasons' as Oborne puts it in his new book, Guilty Men) from the days when he was Tory leader, but also during the Blair years (between his leadership and Cameron becoming Tory leader) he wrote a number of history books on British foreign policy (the one I have is on Pitt, eg British politics during the long Napoleonic wars) and so to find himself as Foreign Secretary of Great Britain just as Europe and the World is kicking off, and at possibly the moment when Britain can mould Europe into a two-tier system, resulting in continuing British sovereignty... bloody hell. B)

Great regard for Hague, but I reckon the UK is in a weak position.

Devaluing the £ will prove to be foolish, and the € will prevail in a new form.

I'm not really bothered, but the one thing I hope is that the Square Mile shrinks back to pre-Big Bang status.

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To be fair - even the French hate the French.

:blink:

I like the French. Always friendly and fun when I meet them. It's only their political EU obsession I dislike; their politicians inability to see that a US of Euro land is actually not wanted by most Euro citizens. I really don't know why we are standing for it. There is a fighting chance that it will begin a staged collapse along with the Euro itself.

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What annoys me about the pro-Europeans is the implication that unless we go along with whatever Europe wants they will start another bloody World War.

Why can't they all just have their own countries and live alongside each other and trade with each other peacefully?

Why does one or other of them always have to be plotting to create an Empire in Western Europe?

And anyone who wants to keep themselves to themselves and trade peacefully and not bother any other country is described as a Xenophobe.

The EU and the Euro ARE an attempt to create the 4th Reich - simple as that.

And any sane, right minded individual would see this and oppose this corrupt, undemocratic monstrosity.

Hague was right then, is right now and will always be right

because he has bothered to study the history of Europe and understands perfectly well where this political project is headed.

:blink:

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What annoys me about the pro-Europeans is the implication that unless we go along with whatever Europe wants they will start another bloody World War.

Why can't they all just have their own countries and live alongside each other and trade with each other peacefully?

How can you trade peacefully with the threat of predatory currency devaluations? Cough cough ... looking at you UK.

That's why the eurozone was set up. The historical lessons go way back before the 20thC.

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How can you trade peacefully with the threat of predatory currency devaluations? Cough cough ... looking at you UK.

That's why the eurozone was set up. The historical lessons go way back before the 20thC.

What's wrong with competing economies and currencies?

I'd argue that the UK should have two currencies! One for London and one for the rest..

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What annoys me about the pro-Europeans is the implication that unless we go along with whatever Europe wants they will start another bloody World War.

:blink:

Don't worry, it will be American that does that.

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Well the Foreign Secretary seems to be enjoying himself.

Nothing is more satisfying than saying 'I told you so' over and over again.

:blink:

Yep. Saving the pound worked out great didn't it. So well that Lloyds,RBS,Northern Crock,Bradford nd Bingly finished up with capital ratios of less than zero%. Brits gloating about runs on French banks is a bit like Zimbabwe pointing out you have an inflation problem.

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Yep. Saving the pound worked out great didn't it. So well that Lloyds,RBS,Northern Crock,Bradford nd Bingly finished up with capital ratios of less than zero%. Brits gloating about runs on French banks is a bit like Zimbabwe pointing out you have an inflation problem.

:-)

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Yep. Saving the pound worked out great didn't it. So well that Lloyds,RBS,Northern Crock,Bradford nd Bingly finished up with capital ratios of less than zero%. Brits gloating about runs on French banks is a bit like Zimbabwe pointing out you have an inflation problem.

Frankly we should be glad we have Sterling and didn't join the f**king Eurozone. :rolleyes:

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  • 330 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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