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THE DEATH OF THE POUND IS IMMINENT

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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Robin Hood » Sun Sep 03, 2017 5:58 pm

Pyrpolizer wrote:
Robin Hood wrote:Milti:

Would you consider this to be confirmation that most probably the currency speculators and the real economy are singing from different song sheets? Doom and gloom from The Currency Market and the report of a trade surplus, record low unemployment and now this, seems the UK is not doing so badly after all? What is there to be gloomy about?

The speculators must have got the latest news before they quit for the weekend ..... it rose from 1.0864 to 1.09256 in just two hours on Friday (10-1200 hrs) and levelled off at 1.0921, for the next 48 hrs. :wink:

British manufacturing defies Brexit doom by posting one of the biggest growth results in three years in 'clear sign confidence is returning'



http://www.dailymail.co.uk/news/article-4846208/British-manufacturing-defies-Brexit-doom.html


OK .... so it is from the Daily Mail so it could be an exaggeration! :D


You should thank the speculators then :wink:
From the same article:

The pound has fallen by 13 per cent against a basket of currencies since the Brexit vote, which has proved a boost for manufacturers as it makes UK goods more attractive to overseas buyers.

And don't forget the UK is still a member of the EU with full rights and no burdens for it's exports.
Do you think the same boom will occur after it exits?


Yes .... I have every confidence that the UK economy will prosper outside the EU, but I can't honestly see some of the EU member states thriving without a strong commercial partnership with the UK?

But this CBI story supports what I said at the beginning, that economic influences lag way behind speculator invoked currency changes. This is the one foreseen circumstance a first year economics graduate would recognise as being 100% predictable if a currency loses value.

There are two economies ...... one is the real economy based on trade, jobs and wealth creation ...... the other is based on money. The first will survive as it has for thousands of years, the second is doomed to failure ..... it cannot survive as it is. Unfortunately for the UK a very large part of their claim to economic success is currently based on the latter, but that will change and I think quite soon. :wink:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Robin Hood » Sun Sep 03, 2017 8:12 pm

I always thought they were arrogant ..... now I know why!

In search of the bankers brain ......

The film also features interviews with former players of the financial game who have now embraced their status as industry whistleblowers. They all testify to a system that's sick with unregulated greed and rewards the truly ruthless with unimaginable wealth. We learn how they manage to operate in relative anonymity, and the tricks and triggers they employ to excel in their line of work.

The film's central thesis, however, regards the chemistry of greed. A psychologist chimes in to share insights on the effects of greed on the brain, and explains the cerebral characteristics that define many of the most successful masters of banking and investments. It's not a flattering portrayal; in fact, the film pulls no punches by labeling these subjects as psychopaths. They possess a level of deviance and superficiality that makes them ideally suited for victory in today's excessive and permissive financial climate. If they should incur defeat, many will resort to suicide.

https://topdocumentaryfilms.com/search-bankers-brain/
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Robin Hood » Mon Sep 04, 2017 7:39 am

Robin Hood wrote:I always thought they were arrogant ..... now I know why!

In search of the bankers brain ......

The film also features interviews with former players of the financial game who have now embraced their status as industry whistleblowers. They all testify to a system that's sick with unregulated greed and rewards the truly ruthless with unimaginable wealth. We learn how they manage to operate in relative anonymity, and the tricks and triggers they employ to excel in their line of work.

The film's central thesis, however, regards the chemistry of greed. A psychologist chimes in to share insights on the effects of greed on the brain, and explains the cerebral characteristics that define many of the most successful masters of banking and investments. It's not a flattering portrayal; in fact, the film pulls no punches by labeling these subjects as psychopaths. They possess a level of deviance and superficiality that makes them ideally suited for victory in today's excessive and permissive financial climate. If they should incur defeat, many will resort to suicide.

https://topdocumentaryfilms.com/search-bankers-brain/


Mon. 08.30:
I have to add that not once in this documentary did they once explain or even mention exactly what benefit these people are to the real economy .... any economy except their own financial economy, it shows that I was correct when I said they contribute absolutely nothing! :x
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Pyrpolizer » Mon Sep 04, 2017 1:43 pm

Robin Hood wrote:
Robin Hood wrote:I always thought they were arrogant ..... now I know why!

In search of the bankers brain ......

The film also features interviews with former players of the financial game who have now embraced their status as industry whistleblowers. They all testify to a system that's sick with unregulated greed and rewards the truly ruthless with unimaginable wealth. We learn how they manage to operate in relative anonymity, and the tricks and triggers they employ to excel in their line of work.

The film's central thesis, however, regards the chemistry of greed. A psychologist chimes in to share insights on the effects of greed on the brain, and explains the cerebral characteristics that define many of the most successful masters of banking and investments. It's not a flattering portrayal; in fact, the film pulls no punches by labeling these subjects as psychopaths. They possess a level of deviance and superficiality that makes them ideally suited for victory in today's excessive and permissive financial climate. If they should incur defeat, many will resort to suicide.

https://topdocumentaryfilms.com/search-bankers-brain/


Mon. 08.30:
I have to add that not once in this documentary did they once explain or even mention exactly what benefit these people are to the real economy .... any economy except their own financial economy, it shows that I was correct when I said they contribute absolutely nothing! :x


There are too many things that contribute nothing to real economy Robin.
Whores, kasinos, just to name 2.The list is endless.
If we ban everything we would end up to communism or dictatorship.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby B25 » Mon Sep 04, 2017 1:58 pm

Legitimate Casinos contribute tax revenues.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Londonrake » Mon Sep 04, 2017 3:32 pm

Both do ............... in Nevada. :D
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby B25 » Mon Sep 04, 2017 4:12 pm

Londonrake wrote:Both do ............... in Nevada. :D

:lol: :lol: :lol: :lol: :lol:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Robin Hood » Mon Sep 04, 2017 7:01 pm

Pyrpolizer:
There are too many things that contribute nothing to real economy Robin.
Whores, kasinos, just to name 2.The list is endless.
If we ban everything we would end up to communism or dictatorship.


You surprise me! I think that is a very narrow view.

These people have a system that is completely divorced from the REAL economy but they can have catastrophic effects on it. Most of those that appear not to contribute actually do as they inevitably provide a service that other people are willing to pay for. Income tax does not contribute to the economy as it is taken out before it enters into it. So the idea for instance, that banks/bankers contribute by paying large amounts of income tax ..... is not a contribution to the REAL economy. Seems a daft idea ..... but think about it! The economy is based primarily on people spending. If everyone just saved say 25% of their income, the economy would collapse.

What the banks produce remains within the financial economy, and that directs its products to the financial markets. This expands assets such as housing, stock and bond markets, which is effectively taking money out of circulation. Only a very small fraction of the money the banks create goes into lending to wealth producing industries and the creation of jobs.

2015 (I think) the UK Government got the BoE to create a Quantitative Easing binge of some £375BN (?) virtually ALL of it went to the banks and ended up boosting asset prices. Very little ended up where it should have done ..... in the real economy.

You can’t ban banking completely as you need commercial banks (High Street Banks) to function as intermediaries, they should be a service to industry. The problem is the investment banks and the fact they are linked to the commercial banks. Commercial banks are, or should be, an essential part of the wealth creating process but they have been abused as the bankers have found they can make money out of money ....... and money is no good if you don’t spend it.

The OP is about the value of Sterling. This is manipulated by speculators to line their own pockets (watch the video -50 mins..) and it is only what they spend on Champaign and expensive cars, expensive clothes and other cash expenditure, that it adds to the economy. Most of their ‘contribution’ is in the taxes they pay ..... but that does not enhance the real economy. Also, a very large part of their money is paid in tax havens and that is lost to the economy. (I know that because we had one of them in the family and the video described him to a tee!)

IMO: The investment banks and The Markets, are as much use to the economy as an ashtray on a Harley Davidson! The money all us pensioners living in Cyprus have lost from our incomes has gone to the banks (currency markets) as profit. But of course it is much easier to blame Brexit than to work out what is really happening! :roll: :wink:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Tue Sep 05, 2017 7:15 am

Robin, a nation can survive without a single manufacturing industry, it can even survive with any form of agrigalture but no nation can survive without a banking system.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Robin Hood » Tue Sep 05, 2017 10:59 am

miltiades wrote:Robin, a nation can survive without a single manufacturing industry, it can even survive with any form of agriculture but no nation can survive without a banking system.


OK .......... so explain why? A few links would help to support your argument. IMO: I think you have it ass about face! :wink:
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