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Thu, Oct 30, 2014 - 3:58am
Hammer
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Worth reading the whole article in its entirety

One former Fed official once put it like this: "You don't want to be found dead after a shoot-out with unused ammunition."

So QE may be ending, but we can be sure the debate about its impact will not. Has it saved the US, and perhaps the rest of us, from economic disaster?

Or has it sowed the seeds for the next financial crisis?

https://www.bbc.com/news/business-29778331

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Thu, Oct 30, 2014 - 4:01am
Hammer
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NAB bank flags Clydesdale and

NAB bank flags Clydesdale and Yorkshire sale in UK exit

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National Australia Bank is considering floating its UK operations on the stock market as part of an exit from the UK.

NAB said it was looking at all options for the future of the Clydesdale and Yorkshire banking division.

The news came as the Melbourne-based bank announced a fall in profits, due mainly to problems at its UK operation.

https://www.bbc.com/news/business-29828199

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Thu, Oct 30, 2014 - 4:43am
Spartacus Rex
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@ Hammer

"QE 3" may be ending, however 'QE 4 (ever) is not going away, so pretty much a moot point.

BTW & By (St.) George picked up a couple of 1910 Edward VII Sovereigns in BU last weekend for song and a few of bottles of french that I had purchased wholesale, however the best part is the Canadian mint mark on the backs of those Edward VII's. Being good has its rewards

Cheers, S. Rex

Thu, Oct 30, 2014 - 5:12am
Hammer
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Nicely

Nicely done...........meanwhile an interlude from the isles of Scotland.

Danny Macaskill: The Ridge
"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Thu, Oct 30, 2014 - 5:14am
Spartacus Rex
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WTF?

Child sex exploitation 'social norm' in Greater Manchester

https://www.bbc.com/news/uk-england-manchester-29803799

Pedophiles need a helicopter ride two hundred miles offshore and simply pushed out the door.

That will cure them!

Thu, Oct 30, 2014 - 5:25am
Spartacus Rex
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@ Nicely done...

So you know about those, eh?

1910 Sovereigns Mintage
Mintmark Mint Mintage C Ottawa, Canada 28,020

Still on my elusive quest for a 1908 Edward VII Sovereign

1908 Sovereigns Mintage
Mintmark Mint Mintage C Ottawa, Canada 646

Guess I still need a few more halos for one of those.

Cheers, S. Rex

Fri, Oct 31, 2014 - 2:51am
Hammer
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Bank of Japan stuns market

Bank of Japan stuns market with even more stimulus By Charles Riley @CRrileyCNN October 31, 2014: 1:47 AM ET

HONG KONG (CNNMoney) The Bank of Japan is going for broke and expanding its already aggressive stimulus plan in an effort to keep the country's economic revival plan on track.

In a surprise announcement, the central bank said Friday that it will increase its purchases of longer-term debt, building on a stimulus plan first announced a year and a half ago.

The bank will now make asset purchases at an annual pace of around 80 trillion yen, an increase from the previous 60 to 70 trillion yen target range. The Nikkei jumped by as much as 5%.

The bank's decision was far from unanimous -- five board members voted in favor of additional stimulus, while four voted against the proposal.

The additional stimulus puts the Bank of Japan at odds with other central banks, including the U.S. Federal Reserve, that are scaling back or ending their stimulus programs.

https://money.cnn.com/2014/10/31/news/economy/bank-of-japan-stimulus/index.html

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Fri, Oct 31, 2014 - 2:53am
Hammer
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You might also have picked up

You might also have picked up the fact thta India is struck sovs for the first time in almost 100 years recetly.......try getting one of dem as well for the future.

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Fri, Oct 31, 2014 - 3:00am
Spartacus Rex
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@ Hammer

I have a few 1918 George V s which were struck in Bombay for only one year.

However the one that eludes me still is that 1908 Edward VII struck in Canada

Need more halos

Can you spare any?

Cheers, S. Rex

Sat, Nov 1, 2014 - 12:44am
Spartacus Rex
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Well It's About Time...

Britain repays Churchill bonds for debt from 18th century

Britain on Friday said it was paying back bonds issued by then Chancellor of the Exchequer Winston Churchill to cover debts from World War I, as well as the Napoleonic and Crimean campaigns.

The "4% Consolidated Loan" bonds came out in 1927, partly to refinance National War Bonds originating from WWI that were widely touted as a patriotic investment during the war years.

They also paid for debt dating back as far as the South Sea Bubble financial crisis in the 18th century when a British joint stock company trading with South America collapsed.

The Treasury said on Friday it was redeeming £218 million of the bonds.

"This will be the first time that a Chancellor has redeemed an undated gilt (sovereign bonds) of this sort in more than 60 years," the ministry said in a statement.

Chancellor of the Exchequer George Osborne said: "We are only able to take this action today thanks to the difficult decisions that this government has taken to get a grip on public finances".

The ministry said £2.0 billion in World War I debt is still outstanding -- "one graphic illustration of the legacy of this war on our nation and the long term effects of high debt."

The government said it was planning to repay that debt in full.

https://www.afp.com/en/news/britain-repays-churchill-bonds-debt-18th-cen...

Wed, Nov 5, 2014 - 6:12am
Hammer
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Japan monetary policy  in 90

Japan monetary policy in 90 seconds

90 seconds on Japanese monetary policy

Problem with this is that he might allow himself to raise the consumption tax again to 10% but that will only hit the ordinary guy in the street. The money being created wont filter down to him. It will go into the stock market.

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Wed, Nov 5, 2014 - 9:55am
Hammer
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Rolls-Royce to axe 2,600

Rolls-Royce to axe 2,600 jobs Engineering firm says technological advances have improved output and announces veteran finance chief is stepping down https://www.theguardian.com/business/2014/nov/04/rolls-royce-axes-2600-jobs

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Wed, Nov 5, 2014 - 9:56am
Hammer
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Pace of UK economic growth

Pace of UK economic growth expected to halve as service sector slows Slowdown since summer expected to cut growth to 0.5% in last quarter but optimism reigns with firms still hiring, say analysts https://www.theguardian.com/business/2014/nov/05/uk-recovery-slows-servi...

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Wed, Nov 5, 2014 - 9:58am
Hammer
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UK service sector growth

UK service sector growth slows; eurozone growth makes 'grim reading' -- business live https://www.theguardian.com/business/live/2014/nov/05/marks-spencer-sale...

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Thu, Nov 6, 2014 - 9:50am
Hammer
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EU to press Luxembourg over

EU to press Luxembourg over tax breaks amid fresh allegations

Ex-Luxembourg PM Jean-Claude Juncker is facing a tough first week as EU Commission president

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The European Commission is to press Luxembourg over new allegations it offered tax breaks for more than 300 global companies, an EU spokesman says.

But Commission chief and ex-Luxembourg PM Jean-Claude Juncker will not handle the probe, Margaritis Schinas said.

Pepsi and Ikea are among those accused of making deals with Luxembourg to save billions in tax in other countries.

The revelations were published in a report by the International Consortium of Investigative Journalists (ICIJ).

https://www.bbc.com/news/world-europe-29933050

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Fri, Nov 7, 2014 - 7:26pm
Hammer
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Free banking in the firing

Free banking in the firing line as competition inquiry launches Consumer groups and challengers welcome ‘full-scale’ Competition and Markets Authority inquiry into banking and how customers are treated https://www.theguardian.com/business/2014/nov/06/britain-big-four-banks-...

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
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