BoE warn of new banking crisis!

Sky News

So Mervyn KIng is warning of a new crisis unless urgent reform is brought in!!

Whats the betting this will involve further QE!!

Wait for it, then short the GBP!!

Mervyn King said the problem of banks being "too big to fail" had "not been solved" and imbalances in the banks "are beginning to grow again".

This article sounds like he is being called into question
just as much as he is calling those large institutions into question.


David Grouchy

Well they made lots of money out of it last time, why not try again!!

Ohhh look the banks are at it again!!! oh well, must be that time again, here is more fiat cash to inflate everything because we cannot afford to have prices going DOWN!! nooo that wouldn't do!

Hmmmm... he certainly seems to be fighting to maintain his position, I've wondered for a while how long it'll be before he is ousted on his arse!

reply to post by thoughtsfull


To be replaced by what. An even bigger yes man puppet to the banking elite!! siphoning off yet more money, intheri endless big to totally iradicate the worth any currrecy ever had.

I really don't get their insatiable desire for self destruction

reply to post by JakiusFogg


That is exactly what I think will happen, plant a yes man to push rates up double quick, so whoever is in the know can make some really nice gains in the short term while the whole systems collapses, starting yet another round of this mess.

ETA..

I really can not see a way out of the mess they have got us into.. there is no real new wealth creation that would create enough wealth/jobs in the long term to get us out of the mess and pay down the debt we now shoulder.. all they seem to have up their sleeves are methods to keep buying time with smoke and mirrors..

Tho at some point reality will set in.. and it won't be pleasant for anyone.

And Welcome Finance/Cattles were declared insolvent yesterday due to increasingly massive bad debts. How, many more banks have liabilties they are hiding i wonder

reply to post by thoughtsfull


That's why I say keep an eye out on announcements are get ready to short. or not as the case may be if you are so inclined. Im not a financial adviser but lets say thats what I will be looking at.

BoE can go suck a phat one as there will only be a crisis if one is engineered whereas it drives the world into chaos.

Originally posted by JakiusFogg
reply to post by thoughtsfull

 

That's why I say keep an eye out on announcements are get ready to short. or not as the case may be if you are so inclined. Im not a financial adviser but lets say thats what I will be looking at.

I know what you mean, I tend to track what is coming out to ensure what little we have invested is not wiped out.. managed to turn a small profit through the last one, but this time round intend to pull out of the markets completely.

But tied with the recent musing of a £2 litre for fuel, it seems to me the spectre of a 3 day week is again raising it's head. So if we invest it will be in a 1990s 50ft Prout Catamaran capable of some blue water sailing.. (methinks that might be a good way to go job hunting in the future )

reply to post by thoughtsfull


Now that sounds like a good idea. Don't forget to take you fishing pole with you.

Anything I make is going straight into inflation proof non perishable commodities, and long life produce. wholesale.

Originally posted by JakiusFogg
reply to post by thoughtsfull

 

Now that sounds like a good idea. Don't forget to take you fishing pole with you.

Anything I make is going straight into inflation proof non perishable commodities, and long life produce. wholesale.

Well we have paper gold at the moment amongst other things, and a bit of currency trading.. but am waiting for the right moment to get out, which I think is going to be soon.

Getting a boat feels like one of the better options if the markets crash again, at that point am sure the boats sitting around the marinas will be cheap enough to get a good deal..

And it gives me and mine an alternative route should things really go pear shaped.. which I do worry they will..

It doesn't take a genius to realized that what it cause the last financial crisis was never ever addressed or fixed what the corrupted government we have that is in the pockets of corporate America did was to patched with tax payer money.

The wealthiest kept their wealth and we the working class got the bill and will pay for ever as another crisis that is imminent will prompt more tax payer money into the hands of the same corrupted entities that caused.

reply to post by marg6043


But don't you feel this smoke and mirrors constant buying time and bailing out buddies has a limited lifespan.. at some point reality will set in.

reply to post by thoughtsfull


It takes a nation of angry people to do that and in America people are trusting and gullible, they believe everything that is told to them by the corporate media rather than trusting their own eyes.