Jump to content
House Price Crash Forum
Sign in to follow this  
Goldfinger

Bank Of England Loaned $3.2 Billion At Penalty Rate

Recommended Posts

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Bank of England Says It Made Loan of Funds at Emergency Rate

By Jennifer Ryan

Aug. 30 (Bloomberg) -- The Bank of England said that it loaned 1.6 billion pounds ($3.2 billion) at its penalty rate of 6.75 percent.

Oh-oh. Credit crunch FAR from over. Use this fantastic rebounce in the market to sort your portfolio and make it depression proof. E.g., you could get out of everything -- except for very short term government bonds and of course gold and silver.

Edited by Goldfinger

Share this post


Link to post
Share on other sites
Guest DissipatedYouthIsValuable
http://www.bloomberg.com/apps/news?pid=206...&refer=home

Oh-oh. Credit crunch FAR from over. Use this fantastic rebounce in the market to sort your portfolio and make it depression proof. E.g., you could get out of everything -- except for very short term government bonds and of course gold and silver.

Sorry. I lent them that, they just looked so desperate and shabby.

Share this post


Link to post
Share on other sites
THE borrower was not identified - do you think this was one institution?

I would possibly think so. I mean, a billion is peanuts nowadays. We had funds blowing up recently losing several of them -- no one really seemed to care.

Share this post


Link to post
Share on other sites
THE borrower was not identified - do you think this was one institution?

No. A gang of institutions was seen running away from the Bank wearing hoodies, so that they were not picked up on nearby CCTV :lol:

Share this post


Link to post
Share on other sites
Guest DissipatedYouthIsValuable
I bet it's Northern Barclays. :lol:

Can't possibly be Barclays. Super profits. Lovely Blue Logo. Symbol of Integrity. British. Best in the World.

Share this post


Link to post
Share on other sites
I would possibly think so. I mean, a billion is peanuts nowadays. We had funds blowing up recently losing several of them -- no one really seemed to care.

Yes it's the not caring that caused all this mess in the first place. A return to caution wouldn't be a bad thing. The path to that looks like it's landmined though!

Share this post


Link to post
Share on other sites
The smell of rotten credit derivatives is becoming unbearable.

Mark these words, despite all the reassurances we are in for a very bad surprise.

Could be a Southern Turd Plc. we're smelling here.

Share this post


Link to post
Share on other sites
http://www.bloomberg.com/apps/news?pid=206...&refer=home

Oh-oh. Credit crunch FAR from over. Use this fantastic rebounce in the market to sort your portfolio and make it depression proof. E.g., you could get out of everything -- except for very short term government bonds and of course gold and silver.

...or, as somone else on this site spotted (and if you had £50k) you could go for 5.15% at

http://www.nsandi.com/products/easa/rates.jsp

far safer bet than cahootING etc if you're of the nervous persuasion.

? But are nsi accounts only g'teed to £30K ?? !!! :blink:

Share this post


Link to post
Share on other sites
...or, as somone else on this site spotted (and if you had £50k) you could go for 5.15% at

http://www.nsandi.com/products/easa/rates.jsp

far safer bet than cahootING etc if you're of the nervous persuasion.

? But are nsi accounts only g'teed to £30K ?? !!! :blink:

no 100%, if government goes bust they will print to cover losses. Just don't expect to be able to afford anything imported (i.e. everything)

Share this post


Link to post
Share on other sites

The Loan was made to Stewarts Beef Holdings, as the main supplier to McDonalds if they had gone under the unemployment rate in the UK would have shot up to 33million overnight.

Share this post


Link to post
Share on other sites
The Loan was made to Stewarts Beef Holdings, as the main supplier to McDonalds if they had gone under the unemployment rate in the UK would have shot up to 33million overnight.

Lucky for you they were bailed out then. You'd have had nowhere to work and nowhere to eat. That's what I call a double whammy.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 356 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.