Monday, Dec 21, 2009

Proxy bet on IRs rising

William Hill: 8/1 Government To Apply For I M F Loan

William Hill are offering odds of 8/1 that the Government will have to go to the IMF for a loan before the Gweneral Election takes place. 'Having to go cap in hand to the IMF would be the ultimate humiliation for Messrs Brown and Darling, but there are plenty of punters prepared to bet that it will happen.

Posted by cynicalsoothsayer @ 11:24 AM (2245 views)
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10 Comments

1. This comment has been removed as it was found to be in breach of our Blog Policies.

 

2. Steve Townsend said...

If buying a house or have a mortgage, this is a great hedge against future sky high interest rates imposed by the IMF.

Monday, December 21, 2009 12:01PM Report Comment
 

3. jackas said...

When Britain went to the IMF in 1976, they borrowed £2.3bn to bail out the country.

Today, Britain is creating nearly that amount out of thin air EVERY DAY in order to avoid the mysterious lesser spotted deflation bogeyman.

I'm not even sure the IMF has the resources to bail us out - as of October last year they "only" had £117bn available as emergency loans.

On that basis, you can see it's in the best interests of the IMF too if sterling is devalued..

Monday, December 21, 2009 12:53PM Report Comment
 

4. inbreda said...

so the question is - if all currencies are trying to devalue, what does GBP devalue against?

Monday, December 21, 2009 01:34PM Report Comment
 

5. jackas said...

Something you can't create out of thin air.

Like gold or silver (CONSPIRALOON ALERT)

Monday, December 21, 2009 02:03PM Report Comment
 

6. tenyearstogetmymoneyback said...

I wonder what the odds would be on a future LABOUR government having to go to the IMF
shortly after the election.

I think that once the elction is over whoever wins will have to come up with a completely credible
plan showing how they will get the country back on track within their first month in power.
If people give them the benefit of the doubt then the Conservatives MIGHT just be able to pull it off.

Monday, December 21, 2009 07:45PM Report Comment
 

7. sneaker said...

Presumably this is why there is talk of a "snap election". Try and get re-elected, quick. Then go to the IMF.

Tuesday, December 22, 2009 10:58AM Report Comment
 

8. sneaker said...

@sovietuk

Yes, the trouble with socialism is, quite simply, that it is very expensive. Socialists don't understand that you have to make money from somewhere. It's not just something that magically appears from nowhere in rich people's wallets.

Tuesday, December 22, 2009 11:00AM Report Comment
 

9. crunchy said...

5. jackas

May I suggest you look at a gold chart spanning the last few years to clear your head. (THE REALITY, NOTHING MORE)

Tuesday, December 22, 2009 11:13AM Report Comment
 

10. crunchy said...

If gold comes down to $400/500 the financial crisis will be over, in whatever form that may be. However, there are people that believe gold may not drop to those levels. It all depends on what form the recovery will take.

BTW conspiracy/planning/natural courses, are a fact of life. It is merely a question as to what extent (good or evil) it is adopted or encouraged/discouraged.

Tuesday, December 22, 2009 11:35AM Report Comment
 

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