Tuesday, Nov 24, 2009

Did we know about this?

BBC News: HBOS and RBS received secret bank rescue loans

I can't work out whether this is new news or old news, so much money has been shovelled at the banks.

Posted by refusetobuy @ 02:06 PM (1475 views)
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1. refusetobuy said...

Sorry, didn't see Jack C's earlier posting

Tuesday, November 24, 2009 02:07PM Report Comment

2. drewster said...

It's new news. I agree though - hard to tell with so many big numbers flying around!

Tuesday, November 24, 2009 02:39PM Report Comment

3. rumble said...

Maybe the gov's plan, to dazzle us with absurd numbers until we can no longer keep track. Economic shock and awe campaign.

Tuesday, November 24, 2009 02:59PM Report Comment

4. jack c said...

Nice to see google ads has placed a Halifax credit card offer at the top of this page (LOL)

Tuesday, November 24, 2009 03:02PM Report Comment

5. the number cruncher said...

I get the feeling that the smart money is in clandestine profit taking mode and the Government is using the market hubris to get out these secrets. The stupid money is lapping up new share issues etc.

Unfortunately the stupid money will include the idiots who manage my company pension no doubt

I don't like being stupid, even by proxy, can anyone tell me how to be clever?

Tuesday, November 24, 2009 03:21PM Report Comment

6. letthemfall said...

number cruncher

A sipp? Trouble is you can't avoid the money filterers and experts entirely even with that.

Tuesday, November 24, 2009 03:30PM Report Comment

7. tom101 said...

the number cruncher said @5, Nope.

I'm just behind you in the rowing boat..... Is that water by our ankles?

Tuesday, November 24, 2009 03:33PM Report Comment

8. general congreve said...

@5 - GOLD. No counter party risk. All currencies currently falling against it. Cannot be debased through reckless financial policy. Worlds oldest and most permanent currency for a good reason.

Tuesday, November 24, 2009 03:34PM Report Comment

9. matt_the_hat said...

I am one of the fools lapping up the new share issue - I wonder where the QE money is going?

Its like the Weimar Republic all over again - just need to get in there early and let the good times roll.

When the house market goes into recovery again that is when I sell everything sterling and move to gold.

BTW I heard of someone who travelled with 20lbs sterling silver (can't remember exact amount) through customs and was told that he could take anything over a certain value through say £10,000 he proclaimed this is only 20 pounds sterling and after some debate was allowed through. Can a lawyer tell me if this is legally correct for someone wanting to move large quantities of value abroad.

Tuesday, November 24, 2009 03:42PM Report Comment

10. icarus said...

George Orwell could have written this bit: "(we) carefully considered the public interest case for disclosure but decided (not to disclose until we consider) that the need for secrecy has seized".

Yep, best not to frighten the horses.

Tuesday, November 24, 2009 04:46PM Report Comment

11. general congreve said...

@9 - Like his style. Have to look into that. Mind you, best not to risk it. A messy car with lots of nooks and crannies, or just a deep petrol tank, plus a ferry ticket to the continent will suffice in a crisis. They haven't trained dogs to sniff out gold/silver as far as I'm aware.

Tuesday, November 24, 2009 05:01PM Report Comment

12. icarus said...

er.. make that "ceased" @10

Tuesday, November 24, 2009 05:13PM Report Comment

13. shining wit said...

general congreve @ 8 said....

"GOLD.....against it. Cannot be debased through reckless financial " - No but could halve in value if people decide it's vastly overvalued.

It's a bubble.

Tuesday, November 24, 2009 05:15PM Report Comment

14. general congreve said...

@13 - I personally only know of one friend/associate/family member who is also invested in gold of their own volition. My missus and a couple of members of my family have a small holding on my recommendation, but only one friend has invested under his own steam. Other friends have looked at me in disbelieve when I've mentioned it when talking about investments, because they have never even considered it or heard of it as an option.

This is not the anatomy of a bubble. Bubble territory is when all your friends are talking about the ever increasing price of their gold stash at the dinner table on a Saturday night. When we get there I will sell mine.

Tuesday, November 24, 2009 09:19PM Report Comment

15. rumble said...

Don't know about that, general. It's a bubble when it's overvalued, regardless of who the players the are.

Tuesday, November 24, 2009 10:21PM Report Comment

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