Tuesday, April 19, 2011

Oh dear….

Cameron could block Gordon Brown IMF bid

''David Cameron has indicated he will block a potential bid by Gordon Brown to become managing director of the International Monetary Fund (IMF). The Prime Minister said his predecessor was not the "most appropriate person" to lead the IMF because he would not admit the UK had a "debt problem".''

Posted by hpwatcher @ 11:35 AM (2496 views)
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32 thoughts on “Oh dear….

  • landofconfusion says:

    But on the flip side he’s good at dishing out money.

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  • god help us all

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  • The idea of brown in charge of the IMF, I dont have words..

    On the other hand, gold markets will do well as cofidence in FIAT money collapses

    I think it’s time to put an Australian or a German at the helm, theire economies aren’t screwed yet. – Although both one trick ponines dependent on a continual supply of cheap energy, for mining and cars

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  • I’d be interested to hear Flashman’s views on this…

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  • richy richless says:

    Aprils fools has passed guys.

    I know the political rhetoric from Cameron just supports his argument of the inheritence he received but I didn’t realise Crash Gordon was this delusional, if you believe the press that is..

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  • cornishman: why?

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  • Everyone deserves a second chance and I think Gordon has learned a hard lesson in recent years, in addition he has acknowledged and apologised for his part in the banking crisis and the shortcomings of the FSA. He’s unlikely to repeat the same mistakes again and would therefore be a “safe pair of hands” as MD of the IMF. A stronger proposition would also involve Tony Blair as his trusted adviser (JP Morgan experience comes to mind)

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  • general congreve says:

    Brown Managing Director of the IMF? I can’t see for my tears of laughter. You couldn’t write this stuff. It’s be like putting a 3 year old in charge of a sweet jar.

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  • He’s unlikely to repeat the same mistakes again and would therefore be a “safe pair of hands” as MD of the IMF

    Should someone who is so incompetent be trusted again though?

    I mean, if he was a doctor and a few patients had died – over the period of a few years – due to mistakes he had made, he definitely would not be getting a second chance – he’d be struck off.

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  • I hate to say this and wish I could think of a better analogy, but it would be like Hitler chairing the Nuremberg trials.

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  • @general congreve – as the resident Gold advocate you must admit he did a reasonable job with the UK reserves – we’ve still got some Gold left and he diversified our holdings (Euro’s for example).

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  • @general congreve – as the resident Gold advocate you must admit he did a reasonable job with the UK reserves – we’ve still got some Gold left and he diversified our holdings (Euro’s for example).

    He didn’t do a reasonable job with the UK reserves at all. Despite advice to the contrary, he sold at the worst possible time, when the price of gold was around $210 an ounce. Today it is around $1490 – that does not sound like a reasonable job to me.

    You need to check your facts before posting.

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  • No way do I want Brown anywhere near the IMF, it is bad enough already.

    Soros is trying to form a coalition of Socialist (incompetent) fiddlers, who will end up making things far worse, for his profit, so I’m not surprised Brown was at his meet!

    @10 You must be joking!

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  • hpwatcher: jack c was obviously joking.

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  • flashman – because your posts usually analyse the subject objectively.

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  • Thanks cornishman. I was still wondering about your enigmatic ‘young mark’ and my instinct was to avoid this debate

    I wouldn’t bat an eyelid at him becoming the MD of the IMF. The man has many flaws but almost none of them would be exposed by that job. He was often accused of dithering but when the world was struck by a huge financial crisis, he was the most decisive leader. The US changed course to comply with his speedily proffered solution and the rest of the world followed. The financial crisis is largely behind us and the history books will be written up once the next boom is well established. There can be little doubt that many historians will credit him with speedily devising a solution and taking a world leadership role in the crisis of the day. There will be people who are astonished by the praise heaped on him but let’s face it QE, bank bailouts and low interest rates were never going to please everyone.

    Before anyone jumps down my throat, I don’t like him either and I am very well aware of the errors he made that contributed to the financial crisis and to our growing debt. However he is vastly experienced and he has been forged by fire. He has the best interests of Britain at heart and I would vastly prefer him to any grey suited FIFA type foreigner. The job is best suited to an introverted, intense sort of intellect and not a gregarious, grinning politician like Blair, so it would seem to play to his strengths while avoiding his many shortcomings as a politician. It is also an unelected role and he quite likes those

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  • Eh it might be a good idea having an Englishman at the helm of the IMF because when the UK goes bust due to all the debts and banking losses to come from the next housing crash we will need the IMF .

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  • orcusmaximus says:

    All Brown knows is ‘spend spend spend’. If he were in charge of the IMF, we would see a large wealth redistribution from well off prudent countries to indebted spendthrift countries.

    Maybe we should be rooting for him?

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  • orcus: Fortunately the IMF can’t spend more than it has in the pot. He would perhaps need some training in that aspect of the job

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  • hpwatcher: jack c was obviously joking.

    Obviously….

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  • hpwatcher – I had you hook, line and sinker !

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  • letthemfall says:

    I also think GB would be good at the job; his failings as a politician (and all politicians fail do they not?) are irrelevant, and it strikes me as petty of Cameron to stand in his way because of politics.

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  • hpwatcher – I had you hook, line and sinker !

    To be honest, I would not have been surprised if you had been serious…

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  • orcusmaximus says:

    @flashman Fortunately the IMF can’t spend more than it has in the pot. He would perhaps need some training in that aspect of the jobhttp://en.wikipedia.org/wiki/Viv_Nicholson

    Obviously his mentor, but the student overcame the master! GB managed to convince most people that going bust was someone elses fault.

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  • orcusmaximus says:
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  • greytornado says:

    I find it of huge concern that Brown clearly never understood the role of gold both today and historically. The man is a bufoon.

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  • orcusmaximus says:

    Must stop using tags!

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  • hpwatcher – techieman rarely appears on here these days maybe he has had a hammering on the S&P 5’s etc…?

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  • flashman – thanks. I imagine there is much more to the man than the public sees.

    greytornado – there is a theory that the UK gold was sold to bail out a bank…

    http://weareangry.co.uk/News/tabid/816/ctl/ArticleView/mid/1653/articleId/184/language/en-GB/Did-Gordon-Brown-Sell-UKs-Gold-To-Keep-AIG-And-Rothschild-Solvent.aspx

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  • orcusmaximus says:

    @cornishman – are you implying that the act of selling Britains gold was the work of an evil genius and not an idiot? Occam’s razor would suggest the latter…

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  • orcus: I think I could suggest some even more established theories that would better satisfy the law of parsimony

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