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Bossybabe

RBS Loss of £Billions

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4 minutes ago, Bossybabe said:

I'm of the opinion that RBS is making intentional losses and will go on doing so till we give up our 75% of it. ?

Small fry.

I'm of the view that government makes 'losses' in almost everything it takes it upon itself to involve itself in that it has no business doing - and will continue doing so until we force it to stop.

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And the cumulative 'losses' of government over the last decade, generation, century.......have been how much? 

Before long, as big as the RBS number admittedly are to any reasonable person, the fact is that the day will come in the not too distant future that Billions will be seen as small change.

I think you mistook my tongue-in-cheek reply as approval or acceptance of the RBS situation.

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34 minutes ago, Bossybabe said:

I'm of the opinion that RBS is making intentional losses and will go on doing so till we give up our 75% of it. ?

Maybe if we double the board's bonuses next year it'll encourage them to lose a bit less? That's how it works in banking, I think.

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1 minute ago, Hail the Tripod said:

Maybe if we double the board's bonuses next year it'll encourage them to lose a bit less? That's how it works in banking, I think.

:D

And if we want them to turn an actual profit offer them knighthoods, regardless of how they achieve it.

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I increasingly think it simply doesn't matter. Tax, banks, interest, the whole economy basically, is a giant charade that keeps people occupied when the reality is it doesn't matter and as much money, as is needed, is simply hosed out behind the scenes. In fact, they constantly try to invent new money hosing ideas and many things like PPI, charities, NGOs, solar power subsidies and countless other schemes, that seemingly make no sense, are simply another opportunity to get the money hose out without everyone thinking 'why the hell do we need to keep working when the government's got a money hose'.

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12 minutes ago, SNACR said:

I increasingly think it simply doesn't matter. Tax, banks, interest, the whole economy basically, is a giant charade that keeps people occupied when the reality is it doesn't matter and as much money, as is needed, is simply hosed out behind the scenes. In fact, they constantly try to invent new money hosing ideas and many things like PPI, charities, NGOs, solar power subsidies and countless other schemes, that seemingly make no sense, are simply another opportunity to get the money hose out without everyone thinking 'why the hell do we need to keep working when the government's got a money hose'.

 

Thats probably the most genuine and sincere thing you've ever posted :D

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6 hours ago, SNACR said:

I increasingly think it simply doesn't matter. Tax, banks, interest, the whole economy basically, is a giant charade that keeps people occupied when the reality is it doesn't matter and as much money, as is needed, is simply hosed out behind the scenes. In fact, they constantly try to invent new money hosing ideas and many things like PPI, charities, NGOs, solar power subsidies and countless other schemes, that seemingly make no sense, are simply another opportunity to get the money hose out without everyone thinking 'why the hell do we need to keep working when the government's got a money hose'.

I think along similar lines - If the government can carry on getting away with running a £70billion annual deficit while being nearly £5 trillion in debt, then taxing individuals has become less to do with what the government needs from you to run the country and more to do with keeping a metaphorical foot on your head.

 

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Who do you think gets all the money when they rescue banks? Other banks. The bankers arrange it so that the losses all accummulate in vulnerable or nationalised banks, so they have to be rescued, which pays the bonusses at the supposedly "profitable" banks for a few more years.

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I had their "staff car". It was a blue Jag, but didn't run to leather seats! It burst its rear axle on the M6!

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On 24/02/2017 at 8:10 AM, hotairmail said:

 

I don't think you understand numbers if you think £60bn of direct cumulative losses and myriad other assistance such as emergency low rates for nigh on a decade, hundreds of £billions of QE etc etc etc since it was bailed, is "small fry".

 

Coincidentally this £60bn is the sum that we may have to pay to the EU over the six years post leaving that is being talked about as an enormous sum.

If you think if it as a second RBS then it becomes cheap at twice the price.

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23 hours ago, SNACR said:

I increasingly think it simply doesn't matter. Tax, banks, interest, the whole economy basically, is a giant charade that keeps people occupied when the reality is it doesn't matter and as much money, as is needed, is simply hosed out behind the scenes. In fact, they constantly try to invent new money hosing ideas and many things like PPI, charities, NGOs, solar power subsidies and countless other schemes, that seemingly make no sense, are simply another opportunity to get the money hose out without everyone thinking 'why the hell do we need to keep working when the government's got a money hose'.

Yes, but that's dependent upon an underlying functioning economy that serves as a long term underpin for sterling so that other countries will take it in exchange for goods and raw materials.

If it purely was a money printing operation with nothing underlying it then sterling would be entirely worthless.

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On 24/02/2017 at 8:31 AM, Hail the Tripod said:

Maybe if we double the board's bonuses next year it'll encourage them to lose a bit less? That's how it works in banking, I think.

Great idea, SNACR. I vote that we withdraw all state benefits to fund RBS. 

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Does anyone know where it's getting the cash from to fund these losses? I've done some digging around and I can't find out what mechanism the government is using to prop it up since it's clearly not able to raise normal equity funding via share sales and I don't see any way it could have raised that kind of cash through asset sales. 

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32 minutes ago, TheBlueCat said:

Does anyone know where it's getting the cash from to fund these losses? I've done some digging around and I can't find out what mechanism the government is using to prop it up since it's clearly not able to raise normal equity funding via share sales and I don't see any way it could have raised that kind of cash through asset sales. 

Bear in mind that the 'core' business will have generated >£20bn cash profits over the last few years and a lot of the losses are non-cash balance sheet adjustments.  As long as the bank is liquid (which all banks are these days) and it has a reasonable solvency margin then the show goes on as they basically try to earn their way out of the write downs and fines.

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