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...the plot thickens...
Don't get too excited Tyler, he's a (lying bastard) Tory. Whatever gets passed will be worthless and certainly won't inconvenience the banks.
Well he's certainly talking hard.
He meant business with the whole cutting spending thing. Broke the backs of the LibDems at it. But who knows.. This is my first Tory experience.
Marcy Kaptur has sponsored H.R. 1489: Return to Prudent Banking Act of 2011 which would reinstate Glass-Steagal here in the USA:
16 co-sponsors as of the moment. Call your rep and ask them if they are going to support it.
More of a Volcker rule than Glass-Steagall I'm afraid. Final details yet to be published but wording like "invisible walls within banks" does not get me too excited. Neither is the British press: http://www.guardian.co.uk/commentisfree/2011/jun/16/editorial-osborne-sp...
lulz... the Volcker rule also skips right over the source of the problem, the shadow banking system
Why? Its still fractional/fiat based currency amirite?
(deep sigh of relief!) Bravo!!!!!
Have to hope against all odds...but i agree with the fact that with our banana republic Gotham city type government, we have entrenched corruption...but maybe Batman(Donald Trump) will save us!!!!!
do not get too excited about anything getting better. could be nothing but a show.
yet as a person who witnessed the BOE crush the FSA (in detail), i am shocked. this is really out of left field.
tyler, me thinks you have not paid enough attention to the SNB. when the mushroom cloud clears, all will be shocked at the schemes of the SNB.
beware the gnomes of zurich.
Good onion article.
If it really happens, suddenly I feel the urge to move to England.
I've got a spare room here. Ignore the holes in the ceiling. They're nothing.
In Amerika it will be business as usual until they have stolen the last pennie.
Everything is on schedule, please move along
the tide is turning...watch below...
Thank you for this beautiful song! I do believe she is right!!!
The banks will allow this.They'll sit back and do nothing. "Yes it may be time for some controls" they'll maybe say.
And the instant everyone's attention has moved to the next show in the moving Bread+Circus they'll proceed to do exactly as they please.
Quickly, while they are weak, kill them all.
Imagine the sound of two hands clapping (loudly) Milestones
was that an anti-koan? Like "what is the sound of one hand spanking the monkey"? (j/k, for most of us that is a rhetorical question)
This summer, early august. No one is watching, no one is waiting for a descision. JUST LIKE LAST YEAR.
George Osborne was an attendee at Bildeberg in Switzerland the prior week. Is he doing their bidding or is he fighting against the cartel?
Which is it...
He's doing their bidding. Not that their bidding is totally opposed to the sheeple's way of life. It's just 95% opposed to such.
Osborne attended last week's Bilderberg meeting of the oligarchy in St Moritz, Switzerland so why should anyone trust him ?
ding ding ding!!!!
yet, no one suspects the swiss
Not surprised to see GS EMEA office in Geneva or Zurich soon
I am British.
If this comes to pass, great. Although 10 years too late. At the moment it is just talk.
Will the government actually do it though? Watch how the banks start to lobby and threaten to leave the UK.
Will we have a JFK moment?
Cameron appears genuine, appears sensible, is doing the right things.I wish him plenty of luck, we'll need it.
Looking forward to june 30th with great anticipation!
Agreed. TOOOOOOO LATE!!!!
Kinda like attempting to close the barn door, after everythings gone and the barn burnt down two Winter's ago!
"Will we have a JFK moment?"
You don't sound British. Perhaps one of those sad people who wishes they were American. Barclays will certainly make noises again about leaving which will worry some, and so will the American banks, but it will go through. Quite frankly I don't give a shit if they leave - there are plenty of banks in the World who can take their place and they can go and screw somebody else. I've had enough of their fucking adverts on tv targeting the poorest of our nation with quick money in return for 3000% APR (No joke, not a typo). A little research reveals they are owned by AIG.
This isn't Cameron's idea anyway. It's Mervyn King's.
At first glance the threat you describe seems toothless/funny: "Hey, if you don't let us screw you, rest assured we will go find someone else to screw."
Unfortunately the real threat isn't so: "Hey Mr. Politician, if you don't take my money in return for letting me screw your constituents, I will find another politician who will -- maybe somewhere else, or maybe right here so not only don't you get the money but you lose your job too."
Its not that easy in the UK. Politicians here have their campaigns paid for by the goverment. It would serve a business nothing to try and fund their own shill candidate since it is both illegal and unnecessary.
"Cameron appears genuine, appears sensible, is doing the right things"Are you insane. He's an idiot. An absolute puppet. He hasn't a clue what he's doing. He waffles endlessly and has no control.
Errr... that's how it's meant to be, so he's doing a great job. Silly me.
Errr... ok that's how it's meant to be, so he's doing a great job. Silly me.
Wow, robot... a triple post...NSA surveillance is really jacking up your internet connection...
BTW: Are you talking Pasty British Douche Cameron or Obama Bin Lyin' with that description???
Pasty British Douche Cameron
Don't know what happened exactly but the ZH server crashed whan I was posting up. When it came back up those 3 post appeared. Total disaster eh?
Nah it happens all the time...
You can delete all the text on the duplicates until...
Some ass like me replies to them ;<)
This shit gives me a headache. Ok, so... is this good or bad for our market? Man, I'd dance to the tune but the DJ is methed up.
Damn, that was a stupid question, sorry. Up or down? Over what time frame? I have no idea how to weigh this one into my trading yet. Thank you and appologies.
If this is true, how long before the "disease" moves to Amerika. You can bet the Giant Squid will use all its tenticles to stop this, as will the other insolvent, bankrupt banks and brokerage, C, BAC, MS, WFC, JPM. I refuse to believe that the rule of law will return to this evolving banana socialist republic.
start with mark to market and no more off balance sheet would be a good start
Sorry Candy..., I don't know what got into me.
I'm also sorry Candy, but I have to concur with peabody. Reinstating mark-to-market would immediately bankrupt every big bank (and Country) in the world. And what's really laughable is that the fantasy asset values that they currently have listed on their balance sheets are leveraged 6 ways from Sunday into hundreds of trillions worth of crap OTC derivatives that are based on these fantasy values. There is literally many many times the World GDPworth of derivatives based on fantasy asset valuations....almost like fairy dust. This is the type of Greed that it took to destroy the world financial system.
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