Banking practises

[RicoS321]

But then, that's nae any different to a manager at a car sales firm, or even the traditional bank branch manager (not yer classic banker, of the bonus variety). To be honest, it's probably the case in manual labour jobs too. I've seen the occasional apprentice being spoken to like shite because their boss could, and he seemed to enjoy it. So I don't necessarily think that the public-schoolness of those cunts made any difference to their attitude toward their staff, but it probably did shoehorn them into the banking/finance industry. The only difference between banking and other industries is the function of bailout (i.e. the rules of the industry they work in). Socialising the risk of failure promotes a pretty care-free, confident attitude that permeates that industry. If banks were allowed to go bust - as they should be - then these incompetent little fucks would be a lot less confident, and a lot less willing to sit around getting cunted during the day because they fortuitously met their daily gambling targets by 11am.

[rocket_scientist]

It is very common for weak managers and bosses to undermine and humiliate subordinates. This happens in every field. It's human nature. Big companies and organisations are full of managers who add nothing to the whole. The mission statement is of secondary, if not insignificant importance compared to their primary personal driver.

 

But I've never heard piss weak managers openly say it. It's only because these privileged "toffs" had been given such jobs by their birthrights/schools/nepotism that one of them had the arrogance and contempt to declare his man-management modus operandi. The m.o. wasn't shocking. It was the open declaration that was. That he was well-oiled helped his truth come out of course but the fact that this pink striped shirt nothing felt comfortable enough to say it in present company was a reflection of the entitlement culture that they all "enjoyed". The constant giggling from two of the four was pretty alarming, reminiscent of schoolgirls, otherworldly (to any NE Scot) and again, a manifestation of who they were.

 

Just as lunching with alcohol doesn't happen very often (for me), in another country less so, and in restaurants we had never been to before, I've never heard anyone openly fill the air with such ugliness. It may happen a lot in some circles and it's not by reason of having a sheltered life but trust me, privileged pissed-up public schoolboy potential faggots being themselves in public (rather than the sanctuaries of their private clubs where I could imagine such ugliness occurring) is not a usual occurrence for me.

[RicoS321]

Aye, I see fit yer saying. I know a few of such types through work. If I'm ever socialising out of work it always amazes me how comfortable they are at asking other people to do things for them. I'm always quite awkward when requesting something non-standard in a restaurant or fitiver, whereas there's just an air of expectation with these people. A bill is always put on expenses, no matter how small, whereas I prefer to just buy a pint for someone out of my ain pooch. Not that they're impolite, or obnoxious necessarily, more expectant, assuming and unapologetic - a lifetime of just getting things I suspect. A more obvious example would be our politicians' expenses. It was like a human right to them, to claim everything. Playing the system by flipping a second home was not consciously malicious, it was just the done thing for most of them. An entitlement. I don't know if it helps to persecute people like that either (not saying you were), maybe just highlight their mistakes and stop f'n voting for them every 5 years.

[rocket_scientist]

http://www.paulcraigroberts.org/2015/08/26/neo-need-paul-craig-roberts/

 

 

Where is Neo When We Need Him

 

Paul Craig Roberts

 

In The Matrix in which Americans live, nothing is ever their fault. For example, the current decline in the US stock market is not because years of excessive liquidity supplied by the Federal Reserve have created a bubble so overblown that a mere six stocks, some of which have no earnings commiserate with their price, accounted for more than all of the gain in market capitalization in the S&P 500 prior to the current disruption.

 

In our Matrix existence, the stock market decline is not due to corporations using their profits, and even taking out loans, to repurchase their shares, thus creating an artificial demand for their equity shares.

 

The decline is not due to the latest monthly reporting of durable goods orders falling on a year-to-year basis for the sixth consecutive month.

 

The stock market decline is not due to a week economy in which after a decade of alleged economy recovery, new and existing home sales are still down by 63% and 23% from the peak in July 2005.

 

The stock market decline is not due to the collapse in real median family income and, thereby, consumer demand, resulting from two decades of offshoring middle class jobs and partially replacing them with minimum wage part-time Walmart jobs without benefits that do not provide sufficient income to form a household.

 

No, none of these facts can be blamed. The decline in the US stock market is the fault of China.

 

What did China do? China is accused of devaluing by a small amount its currency.

 

Why would a slight adjustment in the yuan’s exchange value to the dollar cause the US and European stock markets to decline?

 

It wouldn’t. But facts don’t matter to the presstitute media. They lie for a living.

 

Moreover, it was not a devaluation.

 

When China began the transition from communism to capitalism, China pegged its currency to the US dollar in order to demonstrate that its currency was as good as the world’s reserve currency. Over time China has allowed its currency to appreciate relative to the dollar. For example, in 2006 one US dollar was worth 8.1 Chinese yuan. Recently, prior to the alleged “devaluation” one US dollar was worth 6.1 or 6.2 yuan. After China’s adjustment to its floating peg, one US dollar is worth 6.4 yuan. Clearly, a change in the value of the yuan from 6.1 or 6.2 to the dollar to 6.4 to the dollar did not collapse the US and European stock markets.

 

Furthermore, the change in the range of the floating peg to the US dollar did not devalue China’s currency with regard to its non-US trading partners. What had happened, and what China corrected, is that as a result of the QE money printing policies currently underway by the Japanese and European central banks, the dollar appreciated against other currencies. As China’s yuan is pegged to the dollar, China’s currency appreciated with regard to its Asian and European trading partners. The appreciation of China’s currency (due to its peg to the US dollar) is not a good thing for Chinese exports during a time of struggling economies. China merely altered its peg to the dollar in order to eliminate the appreciation of its currency against its other trading partners.

 

Why did not the financial press tell us this? Is the Western financial press so incompetent that they do not know this? Yes.

 

Or is it simply that America itself cannot possibly be responsible for anything that goes wrong. That’s it. Who, us?! We are innocent! It was those damn Chinese!

 

Look, for example, at the hordes of refugees from America’s invasions and bombings of seven countries who are currently overrunning Europe. The huge inflows of peoples from America’s massive slaughter of populations in seven countries, enabled by the Europeans themselves, is causing political consternation in Europe and the revival of far-right political parties. Today, for example, neo-nazis shouted down German Chancellor Merkel, who tried to make a speech asking for compassion for refugees.

 

But, of course, Merkel herself is responsible for the refugee problem that is destabilizing Europe. Without Germany as Washington’s two-bit punk puppet state, a non-entity devoid of sovereignty, a non-country, a mere vassal, an outpost of the Empire, ruled from Washington, America could not be conducting the illegal wars that are producing the hordes of refugees that are over-taxing Europe’s ability to accept refugees and encouraging neo-nazi parties.

 

The corrupt European and American press present the refugee problem as if it has nothing whatsoever to do with America’s war crimes against seven countries. I mean, really, why should peoples flee countries when America is bringing them “freedom and democracy?”

 

Nowhere in the Western media other than a few alternative media websites is there an ounce of integrity. The Western media is a Ministry of Truth that operates full-time in support of the artificial existence that Westerners live inside The Matrix where Westerners exist without thought. Considering their inaptitude and inaction, Western peoples might as well not exist.

 

More is going to collapse on the brainwashed Western fools than mere stock values.

 

[rocket_scientist]

Silva and Coelho's demonisation of Costa in the midst of a constitutional stalemate in Portugal is even more proof to me that Farage was right all along.

 

The EU must die.

[RicoS321]

Not strictly banking practice, but David Graeber covers monetary policy in the guardian today. Worth a quick read:

 

http://www.theguardian.com/commentisfree/2015/oct/28/2008-crash-government-economic-growth-budgetary-surplus

[manc_don]

This could go in any number of locations, but this is probably apt and very interesting:

 

http://www.independent.co.uk/news/uk/crickhowell-welsh-town-moves-offshore-to-avoid-tax-on-local-business-a6728971.html

 

It'll be interesting to see how many towns who have any number of these tax dodgers adopt this strategy.

[rocket_scientist]

Silva and Coelho's demonisation of Costa in the midst of a constitutional stalemate in Portugal is even more proof to me that Farage was right all along.

 

The EU must die.

 

How interesting. The day after I posted that, Nigel said this;

 

 

He's on the ball that cunt.

[RicoS321]

He's on the ball that cunt.

 

Apart from the shite about Britain caring about democracy.

 

It's an interesting state of affairs in Portugal right now, and he's right about the blanket ignoring of it in the media. Al Jazeera was the only place that gave a decent overview. There's only one way Europe is heading if they continue to ignore the rights of countries' citizens. It's a pretty fucked experiment. The legal requirement for surplus for individual Euro members is fuckin bizarre like.

[rocket_scientist]

Apart from the shite about Britain caring about democracy.

 

I think you'll find that most people, including British people and particularly Scottish and the North East people do care about the basic principles upon which the concept of democracy was built, however divorced those might be from the political elite ruling classes.

 

Don't mix up the people with the politicians. These two have become increasingly divorced and it was Blair who drove the deepest divisions between the two.

[manc_don]

First time I've ever thought that he knows somewhat of what he speaks. A lot of valid points and the comparison to brezhnev was a hilarious but good one to make.

 

Not had the chance to see much news lately,  so want to read more about the Portugal situation. Sounds completely ridiculous that a democratically elected party can be denied their right.  Yes I wholeheartedly disagreed with the tories being elected, not my fault there were a lot of idiots, but that's democracy.

[RicoS321]

I think you'll find that most people, including British people and particularly Scottish and the North East people do care about the basic principles upon which the concept of democracy was built, however divorced those might be from the political elite ruling classes.

 

Don't mix up the people with the politicians. These two have become increasingly divorced and it was Blair who drove the deepest divisions between the two.

 

I wasn't mixing the two, I thought Farage was clearly holding the British system up as a democratic example. Which I thought was disingenuous given their own poor representation due to FPTP. I could have been mistaken though.

 

I thought Blair did more to put people off democracy completely, become disengaged, and changed the whole political/election process to a charade that focused on personality over policy. I'd say that the vast majority of my colleagues at work have no interest in democracy or politics at all. Whilst, there's still a majority turnout at elections (65% last time round), I think there's a lot of those still do it because they feel it's their duty, and a lot who support Labour or whoever because "that's who I've always voted for" - i.e. folk who have no interest in democracy; it's like they're supporting a fitba team. Obviously, that is all contradicted when the electorate have something worthwhile to vote for, like in the independence referendum. But even with that, try and start a conversation with someone about PR, and the vast majority will glaze over immediately. I think the majority of people prefer the illusion of democracy without even thinking about what it means. See the lack of outrage about the latest changes to internet privacy for example.

[RicoS321]

So, 2016 going to be the year of the collapse to end all collapses then? I predicted a few years back mid-2017 at the latest, but things seems to be bubbling (pun) up nicely ready for a big one. I think we're one big natural disaster (or Fukashima) away from a tipping point that sets the ball rolling. A random event that no-one's compensated for that collapses one area bringing the rest down.

 

I'm going to go for June 2016 as the start.

 

Consumer debt, house prices both at staggering levels far worse than 2007/08. The question is: will we bail out again? Who'll capitalise on the disaster - a swing left or will the press win and proper right wing nastiness get the vote? I think we'll go righter. Any thoughts?

[manc_don]

I think we'll go further to the right. The left will continue to go left whilst the middle ground folk will get put off by the left and be fooled by the corporate press and decide that the right wing vote is a safer bet. Hopefully i'm wrong though.

[rocket_scientist]

As per my last post on this thread, we need to keep the distinction between the ruling class and the classes.

 

The two posts above need to be challenged on the definition of who "we" are. I'm too busy just now to expand but think about it, specifically the point about "we" going right or "we" going left. It's nonsense to suggest that there is a difference between the political parties. Until the people in the west wake up to the truth, nothing will prevent this course towards greater world instability. "We" are the problem and not recognising this fundamental truth is why it's going to get a whole lot worse for the most amount of people.

 

Very good post to recognise that the big crash is imminent, despite the offensive, but at least consistently offensive stylistic immaturity displayed once again.

[RicoS321]

As per my last post on this thread, we need to keep the distinction between the ruling class and the classes.

 

The two posts above need to be challenged on the definition of who "we" are. I'm too busy just now to expand but think about it, specifically the point about "we" going right or "we" going left. It's nonsense to suggest that there is a difference between the political parties. Until the people in the west wake up to the truth, nothing will prevent this course towards greater world instability. "We" are the problem and not recognising this fundamental truth is why it's going to get a whole lot worse for the most amount of people.

 

Very good post to recognise that the big crash is imminent, despite the offensive, but at least consistently offensive stylistic immaturity displayed once again.

 

You're quite correct. The "we" I refer to is: on one side, the government of the day. On the other side, some form of uprising/fundamental change that isn't already being proposed - i.e. a "we" that doesn't currently exist,  politically. Not Dave or Jeremy.

 

PS. it's a fitba forum, I'm not scribing the constitution. I'll write how I choose to write, to suit the environment I'm writing in. Just as you choose to be offended, but at least consistently offended by stylistic immaturity - you weird cunt.

[rocket_scientist]

You made yet another mistake. You assumed that "stylistic immaturity" referred to your style of writing.

 

Like anybody gives a fuck about how any of us writes on any internet forum that was not designed for anally retentive English language types for the purpose of discussing the finer points of English grammar. I couldn't imagine a more boring pursuit personally but I respect the right for anyone to exchange with like-minded people on shared interests.

 

Then, confronted by something you didn't understand, in your confusion, you lashed out with an insult.

 

This is not the best style of exchange to adopt if you want to grow and learn although of course, you don't need to.

 

 

[RicoS321]

It was meant to be tongue in cheek. But never mind. I was going to put a wink smiley at the end, but I've got a weird hatred for emoticons.

 

Edit: tongue in cheek not the correct phrase, more in compliment rather than in insult.

[rocket_scientist]

If anyone doesn't understand the role of the banks, the people who run the banks, how they have seized total control and how it's shaped and is still shaping world history, this will be educational.

 

http://thegreateststorynevertold.tv

 

Of course with my addictive personality, I watched it all in a one-ner but you need a few hours spare to watch every episode. Very worthwhile if you do. The best documentary that I've ever seen.

[RicoS321]

Aye, Hitler had some pretty sound economic views, despite his penchant for jew-killing. It's a shame that the former can't be discussed sensibly without accusation of condoning the latter. One of the articles on that site takes a quote from Mein Kampf, which nails it:

 

"The absolute separation of stock exchange capital from the economic life of the nation would make it possible to oppose the process of internationalization in German business without at the same time attacking capital at such, for to do this would be to jeopardize the foundations of our national independence. I clearly saw what was developing in Germany, and I realized then that the stiffest fight we would have to wage would not be against the enemy nations but against international capital." (my bold)

 

A bit like how we can't discuss the merits of Sharia compliant finance without hysterical accusations of terrorism. Both Hitler and Sharia law deplore/d usury/riba (in Sharia compliant finance, actively prohibiting it). In the West, it is the key to power and how the banks retain that power in a relatively simple fashion. Corbyn's suggestion of "people's QE" is in many ways a challenge to that power. He's effectively suggestion a route to the economy - for new money - where the seigniorage doesn't flow directly to the bank. Imagine that had been done with the £375Bn of QE to date? It wasn't, obviously, it was thrown into mortgages and instruments at no risk to the banking industry, with the interest returned as clear profit.

 

Anyway... good films.

[rocket_scientist]

On Reuters just now: -

 

 

Goldman Sachs has agreed to donate a "substantial six-figure sum" to Britain Stronger in Europe, a campaign to keep Britain in the European Union, according to a source familiar with the matter.

Britain Stronger in Europe is chaired by former Marks and Spencer CEO Stuart Rose.

Britain is due to hold a referendum this year or next on whether to remain in the EU, and prospects of it leaving the union have raised concerns among sections of the country's business community and weighed on sterling

Goldman is not thought to be the only big bank that has agreed to fund the 'In' campaign, to with other firms have also agreed to commit money in recent weeks, Sky News cited sources as saying.

Britain Stronger in Europe was not immediately available for comment.

(Reporting by Parikshit Mishra in Bengaluru; editing by John Stonestreet)

 

 

People do things for a reason. The motivations behind this aren't obscure.

[Tyrant]

That's my vote decided then. 

 

UK oot.

[RicoS321]

It'll make fuck all difference to Goldman, just like their six figure donation. They'll short the out outcome too. Being seen to be doing something is what it's all about for them. What their game is, I've no idea.