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Optobear

Do Posts On Hpc Make A Difference - I Think So, And Here Is An Example.

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Many, many years ago, back when Northern Rock was imploding there was a lot of discussion here about what the Bank of England were doing, and it showed up through a historical report that Bank of England had been reporting since 1844 called the Bank Return.

When I was looking to update an old thread on the size of the Bank of England (= amount of fictitious money printed), here

http://www.housepricecrash.co.uk/forum/index.php?/topic/66763-time-to-celebrate-bank-of-england-got-bigger-again/?p=909399373

I found that the Bank of England have stopped publishing this data because it is viewed as too risky to the financial system:

http://www.bankofengland.co.uk/publications/Pages/bankreturn/default.aspx

To quote

"The 2009 Banking Act removed the legal requirement for the Bank to continue publishing the Bank Return. In 2012, Ian Plenderleith completed a review of the Bank’s provision of Emergency Liquidity Assistance (ELA) to RBS and HBOS in 2008-09. Regarding the future publication of the (non-statutory) Bank Return, the review recommended that the Bank ‘should consider ceasing to do so at an appropriate time, in order to improve its ability to provide covert liquidity assistance in future."

It is a bit shocking that the Bank would stop publishing this after 170 years, but maybe is a good example of where posts on site like HPC can have real impact in the financial world. There was little in the media about the "Bank return", so I think that perhaps my posts, and those of others (Freetrader, BLOO LOO and others), might really have made a concrete difference to the actions of the Old Lady of Threadneedle St.

I rather hope that any journalists (or MPs) reading this might choose to poke around a bit more, find out who made the recommendation to stop publishing, and maybe raise the question of whether it is really in the public interest for the Bank to have stopped publishing important data that underpins our confidence in our financial system after such a long time?

Optobear

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It ties in with when the BoE was doing a bit of justification after the worst of the 2007/2008 economic collapse (Northern Rock et al etc etc etc) Mervyn King (The Lord King of Lothbury or alternatively Baron King of Lothbury) was reported as saying that he would have preferred to have done things in secret. He didn't like openness and transparency.

Edited by billybong

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Personally, I have found the internet incredibly liberating and illuminating. I can feel my brain and awareness getting bigger and bigger.

Hence the new sig?

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Good post.

In fact everyone might be happier basking in pre internet ignorance where the only info you took in was the BBC or the few channels that had to follow it according to their license conditions.

Personally, I have found the internet incredibly liberating and illuminating. I can feel my brain and awareness getting bigger and bigger.

The next step is closing it down and putting the genie back in the lamp. I can feel it already.

Yours is a good post too.

I personally found the pre internet world a confusing place and didn't really know how to live in it with any or even a little bit of contentment.

Like you, I have also found the internet (and other interests) has raised my awareness about what goes in the wider world and it's helped to liberate me to deal with living in what I think is an overall shit world with more contentment than I've ever experienced. A lot of questioning everything is always prevalent in my world though

I agree with you that there will likely be attempts to put the genie back in the bottle. My feeling is that those in power do not like the masses getting a wide variety of information and ending up developing an ability to think for themselves. They also do not like how it can give people power to attempt to influence others who may be easily led, for example, to riot

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The fact that you have noticed their covert actions and we can discuss the implications is only because of the internet.

Now we should all disseminate this fact whenever possible.

It could be made to backfire if enough people see this and the net result is less confidence.

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When I were a lad, "hi-finance" was something that nobody could understand.

Now people can find out about it, "they" take active steps to hide "hi-finance" from the light of day.

Its almost like "they" see themselves as the Men In Black...there's always a collapse in confidence in orbit around the Earth, and its their job to make sure we remain calm and unaware, while they go around anonymously delivering alien monetary experiments, prevent the system moving off World, and wearing the best suits nobody else can afford.

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Someone takes notice. I've been slaged off on other forums by some 2nd hand house salesman an terrified by to letter, despite never trolling any other sites

They know the truth and know this recovery is not sustainable, the boom has probably come more of a shock to them than many mm this site. I myself was telling a mate of mine to sell as soon as help to buy kicked off before he missed the boat. I'd did sell and for 40k more that he couldn't sell for for the previous 3 year!!!!

The boat has sailed.

Trolling seems to me to be common mm here not.

Scared people lashing out at anyone who doesn't support their perverse view of the world.

#### them.

Edited by TheCountOfNowhere

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To be fair, this was widely reported in the mainstream media at the time. Don't recollect the full details, but I think I blogged about aspects of it, and I can construct a mental image of Peston explaining :wacko:

The 'net is a double-edged sword. Information here can be great, but it also feeds confirmation bias and conspiracy theory, no matter whether justified or not.

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This decision from the BoE just followed on from the similar decision by the Federal Reserve to stop publishing the M3 figure (in 2006, I think, or thereabouts).

Edited by Errol

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Yours is a good post too.

I personally found the pre internet world a confusing place and didn't really know how to live in it with any or even a little bit of contentment.

Like you, I have also found the internet (and other interests) has raised my awareness about what goes in the wider world and it's helped to liberate me to deal with living in what I think is an overall shit world with more contentment than I've ever experienced. A lot of questioning everything is always prevalent in my world though

I agree with you that there will likely be attempts to put the genie back in the bottle. My feeling is that those in power do not like the masses getting a wide variety of information and ending up developing an ability to think for themselves. They also do not like how it can give people power to attempt to influence others who may be easily led, for example, to riot

I visited Universal Studios theme park in the USA in 2001. On the 'Terminator' ride, while we were queuing there was a short film about the totalitarian future that the ride takes place in. A TV announcer said 'government control of the internet has helped made it safe and reliable!' Quite prescient, I thought...

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This decision from the BoE just followed on from the similar decision by the Federal Reserve to stop publishing the M3 figure (in 2006, I think, or thereabouts).

I made a post about the information that is FREE out there on the What Now Thread? - of course, it won't be free or uncensored for long. Make hay whilst the sun shines!

The FED stopped producing the M3 money supply information too in 2006.

62589350_804d5df971.jpg

The Federal Reserve Board recently announced that it will stop publishing figures for M3 in March of 2006. It is one of the most commonly referenced measures of the U.S. money supply. This is not a momentous event, but it is another sign that the Fed would rather tell us less than tell us more.

http://www.financialsensearchive.com/editorials/conrad/2005/1122.html

Edited by 200p

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I think so.

Type 'House p' into Google and the third suggestion is 'House price crash' - click on that and the first result returned is www.housepricecrash.co.uk/ :)

There must be a lot of traffic to this site...what are the daily figures for visitors/guest users etc?

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"Who controls the past controls the future; who controls the present controls the past."

---

Why do you think Hitler, and other totalitarian leaders burned books.

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If you tell everyone youre pumping cash into Northern Rock then you g/tee its demise and have to pump in even more money, including from taxpayers

Proven by Robert Peston.

Merv was right to want to preserve covert LOLR activity until ex-post resolution imo.

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I think so.

Type 'House p' into Google and the third suggestion is 'House price crash' - click on that and the first result returned is www.housepricecrash.co.uk/ :)

There must be a lot of traffic to this site...what are the daily figures for visitors/guest users etc?

Google's search results are individual to the person/computer/phone that you are using and change over time to reflect your own interests.

You'd need to try your "house p" test on a fresh system or perhaps it might work in a Google incognito tab, to ensure that you were getting standard results and not ones skewed to your own likes/dislikes.

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The internet all but destroyed the profitability of my high st retail business but it has also brought the ability for me to order a hard to find part for a 1970s Land Rover, at the click of a mouse, and watch a cat riding a vacuum cleaner.

So swings and roundabouts really.

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Good post.

In fact everyone might be happier basking in pre internet ignorance where the only info you took in was the BBC or the few channels that had to follow it according to their license conditions.

Personally, I have found the internet incredibly liberating and illuminating. I can feel my brain and awareness getting bigger and bigger.

The next step is closing it down and putting the genie back in the lamp. I can feel it already.

oh its waaaaayy to late for that, yes they may attempt a gov approved net full of nice safe corporate websites but I would bet you everyone would still be on some sort of unofficial net full of porn conspiracy pages and torrents. There are so many simple technologies to get around any sort of control.For example virgin shut down access to the pirate bay due to legal action, immediately though hundreds of mirrors cropped up and now its almost impossible to ever block it.

I also know some folk in countries with "controlled internets" they just use encrypted VPN services to get around it and surf all the porn,piracy, politics and whatever else they want.

anyone who wants to censor the net is pretty much king Canute.

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There must be a lot of traffic to this site...what are the daily figures for visitors/guest users etc?

This is classified information. Publication of the data may have a detrimental effect on the housing market.

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watch a cat riding a vacuum cleaner.

Is that the youtube clip of a cat riding the robotic vacuum around a kitchen? Very good!

Edited by Errol

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oh its waaaaayy to late for that, yes they may attempt a gov approved net full of nice safe corporate websites but I would bet you everyone would still be on some sort of unofficial net full of porn conspiracy pages and torrents. There are so many simple technologies to get around any sort of control.For example virgin shut down access to the pirate bay due to legal action, immediately though hundreds of mirrors cropped up and now its almost impossible to ever block it.

I also know some folk in countries with "controlled internets" they just use encrypted VPN services to get around it and surf all the porn,piracy, politics and whatever else they want.

anyone who wants to censor the net is pretty much king Canute.

Distributed networks and distributed internet are the next big things. People will be on their own versions of the internet on private networks.

Storage is so cheap and the equipment needed potentially very small indeed.

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The UK monetary reform movement has taken off with the internet, mainly through Positive Money, an educational and lobbying organisation run by very bright, highly educated and media savvy young people.

Before PM the old guard of UK money reformers met together yearly at the Bromsgrove Conference, sponsored by the venerable Scottish money reformer, James Gibb Stuart, now sadly deceased. The flame was kept alive until at the 2010 and 2011 conferences the new young reformers took over with PM. They have since gone from strength to strength.

Their generation feels the weight of their debt enslavement and is doing something about it.

A hat tip also to Bill Still, the U.S journalist and film maker, who has campaigned tirelessly for monetary reform for over 30 years, and whose documentary, The Money Masters, has educated and inspired millions. It is one of the most watched YouTube videos of all time.

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The new Weekly Report provides data on all assets and liabilities generated through the Bank’s monetary policy operations, and will typically continue to disclose over 90% of the Bank’s balance sheet by value.

What the hell is the 1%-10% that they will not disclose? Why is this now considered a secret?

Also there's the "typical" caveat, at what point will this 90% become say 70%???

Edited by interestrateripoff

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I guess it is like saying in Court you'll tell, "the truth, the whole truth, and nothing but the truth, erhh, actually about 90% of the truth, leaving out that 10% of the truth that is awkward"

If they (the Bank of England) want us to have confidence in money then they need to be transparent, 100% of the time, and particularly when things start to go wrong in the financial system.

Otherwise we're in a situation equivalent to someone saying "trust me, I never lie, except in situations where you really need me not to lie, then I'll probably lie".

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