Wednesday 30 November 2011


I was amused to see that the stock markets rallied* when six of the world's central banks, including the Bank of South Britain England, got together and eased the cost of dollar loans between banks by 0.5%, and put in place temporary bilateral liquidity swap arrangements (whatever they are), between central banks.

It seems to me, with precious little in the way of economic know how, that this is just banks lending more non-existent money to other banks and that this  will achieve nothing much except staving off an inevitable financial collapse.

While I was reflecting that I wished I'd paid a bit more attention to the boring economics lectures at college, it occurred to me that this is December, and therefore "bonus time" for the banks.

It probably looks better when they are awarding themselves vast and totally unearned sums of money, if the world financial system doesn't look like it is about to disappear round the U-bend for ever.

So when they tell you, as they undoubtedly will, that they did it for the greater good, it will be, to an extent, true. 

They did it for their greater good.

*FTSE up 198 pts closing at 5335


  1. tris

    'bilateral liquidity swap arrangements'

    Sounds a bit wifeswappey to me fecking dirty Torys sort of thing they are born to.


    'for the greater good,'
    You just cant spell can quotes Latin (Badly) and dont knows the queens English

    I'll do it for you

    'for the greater gold,'

    I dont know!

  2. What is the definition of madness, well at least one of them.

    It is doing the same thing over and over again which never works.

    Collective madness, swapping ephemeral neutrinos of conjured money to give to the b'stads who will hoard it and then, when it suits them, give it back to us at usurious rates of interest, especially if we have no real need of it.

    I am away to stick my head down the pan so I can see where the last load of money we gave the banks went.

  3. Lupus

    Thats a great idea give (I I says give(In the style of Foghorn Leghorn) some spendthrift a loada dosh to save them from going bust...And then when you are in desperate need of some readys you say can i have me money back.

    To which they reply(slyly) you can only have loan and its around 100000%.

    That Capitalism for you Fecking great aint it.

  4. For the war chest.

    Bird Flu


    Democracy is dying at the hand of Goldman sachs aided by inept politicians who are busy licking there boots.

  5. LOL Niko... GoLD, got it.

    Who says my Latin quotes are bad?

    How did you feel the strike went.

    Cameron says it was a 'damp squib', or 'feart' or one of these other expressions he thinks we use.

    BTW, did you notice Ruth used "feart" too?

    And Alex didn't crush her for it... because he was too busy laughing at how she managed to ask a question that came back and slapped her right in the face.

  6. Wolfie: If you see any of my money down there get it for me. My bank is broke....well, until tomorrow morning I guess, then it will be looking for a share of whatever's going.

  7. I love the dead bird one CH... Magic.

  8. When you let down your voters like this turncoat has they are toast.

    Pension protesters call on Lib Dem Alexander to resign

    An estimated 500 people marched on Mr Alexander’s constituency office in Inverness, with hundreds demanding his resignation by shouting “Danny, Danny, Danny – Out, Out, Out”.

    Many protesters dressed as a "Danny the Robber" character with a Danny Alexander mask and a "Pensions Swag" bag, claimed that the Lib Dem MP was not representing the views of the people who elected him.

    You’ll need passport to get in

    How time flies

  9. Brilliant CH. Danny Danny Danny Out Out Out, sounds fine to me.

    And Shetland falling out with a Lib Dem man... goodness, hell will start to freeze soon.

    I'd love a Scottish Passport. Some company should start making them and we can present them at hotels in London where they don't think that we are a part of their disunited kingdom. I'd be happy to do that.

    I was abroad recently and waiting in a queue to go through customs and I read on my passport:

    Her Britannic Majesty's
    Secretary of State
    Requests and requires in the
    Name of Her Majesty
    all those whom it may concern
    to allow the bearer to pass freely
    without let or hindrance,
    and to afford the bearer
    such assistance and protection
    as may be necessary.

    It was centred on the page, like a poem.

    And I though, who is this Secretary of State?

    America has a Secretary of State; the UK has a Foreign and Commonwealth Secretary, so when did we decide to copy America?

    In any case, imagine that silly little twit, 17 pints a day Willie "requiring" anyone to do anything...

    They'd laugh at the silly wee man.

  10. tris

    strikes i am always for them i remember the days when they had a hand vote and people used to hold up both hands..........Great days......were did they go

    me Latin Magister

    Danny Boy has no intention of returning to scotland and a poncey PR job in some second rate holiday camp...........

    Bought and sold for London Gold and thats were His futures is now
    A BANKER he will be some says he always was

  11. You'll enjoy commenting on the next post them Niko.

    I wish you'd told me you had such a strong grasp of Latin, I'd have got you to hep me out on a tricky little translation I'm having some problems with... :)

    Ah wee Danny, bless him. I hope he never comes back. I doubt after today he would be welcome in his constituency.