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£GBP is recovering

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By *oo hot OP   Couple
over a year ago

North West

And it only cost the bank £65 billion to support it.

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By (user no longer on site)
over a year ago


"And it only cost the bank £65 billion to support it.

"

Yeah! And what happens when they stop?

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By (user no longer on site)
over a year ago


"And it only cost the bank £65 billion to support it.

"

They should send the bill to Truss and her crazy chancellor

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By *olly_chromaticTV/TS
over a year ago

Ilkley

£45 billion of tax cuts to benefit only very rich people.

£69 billion for bank of england to temporarily stabilise the situation.

Christ it would have been £24 billion cheaper for the bank to directly give the money to the multi-millionaires.

Alternatively we could have just paid Truss and Kwasimodo a couple of million and told them to fuck off and never come back. Of course they might fuck off on their own when a few million of the people they've screwed over go marching on Westminster with pitchforks in hand...

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By *ugarbonkCouple
over a year ago

Cheshire

Truss will be paid off in kind when she leaves office with meaningless well paid jobs for life.

The funny thing for me is that people don't realise that we live in a gangster state.

It's pretty much that Don Corleone owns the banks, big business, the media and all the politicians. He is constantly looking for new ways to syphon money out of the system from the plebs who pay into it. Anyone who threatens his control is then assassinated by the press.

The only difference is we are too blind to see this, by design, and we dress a lot of it up in pagentry and tradition to somehow make it appear acceptable.

It's the same the world over, northern Europe less so, but Britain is particularly grim.

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By (user no longer on site)
over a year ago


"Truss will be paid off in kind when she leaves office with meaningless well paid jobs for life.

The funny thing for me is that people don't realise that we live in a gangster state.

It's pretty much that Don Corleone owns the banks, big business, the media and all the politicians. He is constantly looking for new ways to syphon money out of the system from the plebs who pay into it. Anyone who threatens his control is then assassinated by the press.

The only difference is we are too blind to see this, by design, and we dress a lot of it up in pagentry and tradition to somehow make it appear acceptable.

It's the same the world over, northern Europe less so, but Britain is particularly grim.

"

I guess you'll be moving to Yemen then to escape this hell-hole.

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By *ohnnyTwoNotesMan
over a year ago

golden fields


"Truss will be paid off in kind when she leaves office with meaningless well paid jobs for life.

The funny thing for me is that people don't realise that we live in a gangster state.

It's pretty much that Don Corleone owns the banks, big business, the media and all the politicians. He is constantly looking for new ways to syphon money out of the system from the plebs who pay into it. Anyone who threatens his control is then assassinated by the press.

The only difference is we are too blind to see this, by design, and we dress a lot of it up in pagentry and tradition to somehow make it appear acceptable.

It's the same the world over, northern Europe less so, but Britain is particularly grim.

I guess you'll be moving to Yemen then to escape this hell-hole."

Yes that's right. Your options are, STFU and accept the corrupt self serving political system here, or move to Yemen. Those are your choices.

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By (user no longer on site)
over a year ago


"Truss will be paid off in kind when she leaves office with meaningless well paid jobs for life.

The funny thing for me is that people don't realise that we live in a gangster state.

It's pretty much that Don Corleone owns the banks, big business, the media and all the politicians. He is constantly looking for new ways to syphon money out of the system from the plebs who pay into it. Anyone who threatens his control is then assassinated by the press.

The only difference is we are too blind to see this, by design, and we dress a lot of it up in pagentry and tradition to somehow make it appear acceptable.

It's the same the world over, northern Europe less so, but Britain is particularly grim.

I guess you'll be moving to Yemen then to escape this hell-hole."

We all know this fella would let this government burn his house down and then thank them for it. Terrible position to be in, support your team no matter how much they cheat and mess up the game. Probably thinks it's somehow patriotic to stick to supporting people that are burying the country purely because of your hatred for the other team...

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By *abioMan
over a year ago

Newcastle and Gateshead


"And it only cost the bank £65 billion to support it.

Yeah! And what happens when they stop?"

This measure is just a 2 week sticky plaster solution from the BOE financial committee till the BOE monetary committee have their meeting and then put up interest rates!

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By *ophieslutTV/TS
over a year ago

Central

The government today talking about a new period of austerity being needed.

Austerity for the masses, making them pay even more, for giving our money to the very rich, making them even wealthier

This government has no shame whatsoever

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By (user no longer on site)
over a year ago


"The government today talking about a new period of austerity being needed.

Austerity for the masses, making them pay even more, for giving our money to the very rich, making them even wealthier

This government has no shame whatsoever "

Either that or they know the population is either brainwashed into thinking there is no other option to them or the rest no balls.

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By (user no longer on site)
over a year ago

[Removed by poster at 01/10/22 15:29:06]

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By (user no longer on site)
over a year ago

Cuts to the poorest in society to fund the wealthiest....I see civil unrest if that happens.

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By *abioMan
over a year ago

Newcastle and Gateshead


"Cuts to the poorest in society to fund the wealthiest....I see civil unrest if that happens."

They are going to be sneaky.. everyone’s uprating in April is dependent on this month inflation figure.. so they are going to say that pensions will go up by that amount (to protect the old base they have) but all “working” age benefits will either be frozen or they will chose some arbitrary figure… meaning they will get a real terms cut….

Also because they reached 12500 a year early, I bet the single person tax allowance won’t go up either!

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By *ohnnyTwoNotesMan
over a year ago

golden fields


"Cuts to the poorest in society to fund the wealthiest....I see civil unrest if that happens."

Why?

This is just standard Tory policy, we haven't seen any civil unrest in the past 13 years, just more voting for the Conservatives.

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By (user no longer on site)
over a year ago


"Cuts to the poorest in society to fund the wealthiest....I see civil unrest if that happens.

Why?

This is just standard Tory policy, we haven't seen any civil unrest in the past 13 years, just more voting for the Conservatives. "

Not after everything people have been through with Covid, they won't put up with i.

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By *ohnnyTwoNotesMan
over a year ago

golden fields


"Cuts to the poorest in society to fund the wealthiest....I see civil unrest if that happens.

Why?

This is just standard Tory policy, we haven't seen any civil unrest in the past 13 years, just more voting for the Conservatives.

Not after everything people have been through with Covid, they won't put up with i."

Hopefully not. But as a whole, the electorate are a compliant bunch.

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By *I TwoCouple
over a year ago

PDI 12-26th Nov 24


"Cuts to the poorest in society to fund the wealthiest....I see civil unrest if that happens.

Why?

This is just standard Tory policy, we haven't seen any civil unrest in the past 13 years, just more voting for the Conservatives.

Not after everything people have been through with Covid, they won't put up with i."

Of course they will put up with it, they will complain on Facebook and Fab but they won't do anything.

The French do something and their energy bills were frozen months ago, they didn't need to change the government they just made the government change on things they don't like.

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By *uddy laneMan
over a year ago

dudley


"And it only cost the bank £65 billion to support it.

"

It is their money to spend, by the way the boe is a company and is owned by people the money they spent has nothing to do with government spending

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By *irldnCouple
over a year ago

Brighton


"And it only cost the bank £65 billion to support it.

It is their money to spend, by the way the boe is a company and is owned by people the money they spent has nothing to do with government spending "

That isn’t true. It once was but not for a ling time...

“We're publicly owned. We are a public body that must answer to the people of the UK through Parliament. We started over 300 years ago as a private bank with shareholders. In 1946, the Government nationalised us because of our central importance to the UK's economy.”

“Some people think the Bank of England is owned by private families, the Royal Family, or even run as a private corporation… but this is untrue. So who are we owned by?”...

https://www.bankofengland.co.uk/knowledgebank/who-owns-the-bank-of-england

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By *abioMan
over a year ago

Newcastle and Gateshead

Actually I see the beginnings of truss separating herself from kwasi…

She is saying in today’s interviews that the scope of the tax cuts was his idea and not hers…

This is where the throwing under the bus starts….

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By *icecouple561Couple
Forum Mod
over a year ago

East Sussex


"Actually I see the beginnings of truss separating herself from kwasi…

She is saying in today’s interviews that the scope of the tax cuts was his idea and not hers…

This is where the throwing under the bus starts…. "

So early in their relationship. It's very worrying

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By *ealthy_and_HungMan
over a year ago

Princes Risborough, Luasanne, Alderney


"Actually I see the beginnings of truss separating herself from kwasi…

She is saying in today’s interviews that the scope of the tax cuts was his idea and not hers…

This is where the throwing under the bus starts…. "

.... then she will doubtless climb into the driving seat of the bus before running over him

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By (user no longer on site)
over a year ago


"Actually I see the beginnings of truss separating herself from kwasi…

She is saying in today’s interviews that the scope of the tax cuts was his idea and not hers…

This is where the throwing under the bus starts….

.... then she will doubtless climb into the driving seat of the bus before running over him"

If Truss was driving, she's probably miss him and sommehow run herself over instead.

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By *orleymanMan
over a year ago

Leeds

Hi all.

Another explainer.

The 65bn intervention ( 5bn currently purchased) was for gilts not the currency. To calm the market as the pension funds over leveraged and had to sell them,but there's weren't any buyers.

The currency was shorted. But has rebounded higher( this was traders simply taking advantage of the sell off to make quick gains.

That's how hedging works.

Currently most buy/sell on the uk currency the pound are71% in favour of buying the pound pushing it up.

Hedge funds do exactly what they say on the tin. Hedge. They short the pound short term to pay out annual dividends. But have long positions on it increasing.

The euro,yen, etc etc have al decreased vs tbe dollar because of the interest rate policies for the last decade called zirp and nirp

There will need to be at some point a discussion at removing the sale of bonds. And quantitative tightening( buying back bonds) you can't simply keep knocking the buck down the road.

The EU owes $10trn , the uk $1.2trn.

The usa is a ticking time bomb with even more. Its an asset bubble. And it's propping up many economies. Particularly Greece and Italy and its currently propping up the euro.

The last time the ecb hinted at this. Germany went into recession, and the euro talked vs the pound.

The b of e hinted at the buying back and the pound dipped.

But at some point. A country is going to have to do it. And be the first through the door and get the bloody nose.

Hope this helps explain

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By *uddy laneMan
over a year ago

dudley


"And it only cost the bank £65 billion to support it.

It is their money to spend, by the way the boe is a company and is owned by people the money they spent has nothing to do with government spending

That isn’t true. It once was but not for a ling time...

“We're publicly owned. We are a public body that must answer to the people of the UK through Parliament. We started over 300 years ago as a private bank with shareholders. In 1946, the Government nationalised us because of our central importance to the UK's economy.”

“Some people think the Bank of England is owned by private families, the Royal Family, or even run as a private corporation… but this is untrue. So who are we owned by?”...

https://www.bankofengland.co.uk/knowledgebank/who-owns-the-bank-of-england

"

the government spent the money not the boe?

Another one I can't work out is the boe selling issuing bank notes to bank's at face value and banks buying them at face value,£10 for £10 £20 for £20.

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By *arakiss12TV/TS
over a year ago

Bedford

Print more money give it to the poor, kill debt. Restart manufacturing hence boost the stocks n shares and exports, it's that simple.

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By *ercuryMan
over a year ago

Grantham

Looks like the first U-turn is about to happen!

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By *irldnCouple
over a year ago

Brighton


"Print more money give it to the poor, kill debt. Restart manufacturing hence boost the stocks n shares and exports, it's that simple.

"

The trouble with “printing more money” is that having more money in circulation ultimately leads to devaluation and then inflation wiping out the benefit of printing more money.

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By *I TwoCouple
over a year ago

PDI 12-26th Nov 24


"Print more money give it to the poor, kill debt. Restart manufacturing hence boost the stocks n shares and exports, it's that simple.

"

Nothing like a bit of sarcasm to brighten the day lol

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