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coprolite last won the day on March 5

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  1. Too much negativity on here. We're going to walk this. I'm going to have some humorous gifs lined up of bottles crashing, just for Derek. We'll concede no doubt but it won't matter. 4-1
  2. Successful fund managers just haven’t been found out yet.
  3. I’m a little in the dark as to how these purchases will be organised but it looks like it will be auctions. So the bonds should be sold at market prices. That won’t cover the loss for the funds, it will crystallise it. The funds won’t avoid losses here. They’ll be able to meet their cash demands and carry on as funds though. The (realistic) alternative is that the fund goes into insolvency and has to sell its assets to raise cash. If there’s loads of funds doing this there won’t be many buyers and asset prices will crash. Some people may think that’s not a bad thing. It would be very disruptive to society. Again, some people may say that’s not a bad thing. But the BoE has a mandate to stabilise the economy, so it can’t let the funds go insolvent.
  4. They’re a low risk asset in terms of their default risk. The risk of losing capital on them has generally been quite low for years, but unpredictable inflation has increased that risk. The issue is that the funds have been buying them on margin, effectively borrowing money that they’ll repay out of the sale. The bond price has been hammered by sheer idiocy, so the value’s gone below a set % of the amount borrowed. The lenders are calling in the difference. It’s very like negative equity on a mortgage with a different pattern of payments.
  5. They’ve not intervened in currency markets have they? And buying bonds increases money supply so will be a downward pressure on exchange. I guess their stability mandate could cover exchange rates and there could be an element of confidence in the currency price, but it’s hard to see todays wiping of the government’s shitey arse as a currency intervention
  6. Sounds a bit like a run. demand for cash from creditors? Yep caused by lack of confidence in assets backing credit? Yep Vicious Circle? Yep There’s a legitimate question as to whether pension funds should be allowed to take on this sort of risk (to which the answer is of course they shouldn’t). There’s also a legitimate question as to whether this is actually true and not a smokescreen. If it is factually accurate, I don’t think the BofE has any option but to inject liquidity. The sheer scale of pension funds would mean that any significant ones going bust would have massive unpredictable effects on the economy. But if we’re doing free markets, it’s just creative destruction and survival of the fittest. Really, Kwasi should be stopping the state from interfering here.
  7. How much of the top 1%/50% ‘s wealth comes from and is protected by them living in a stable* democracy under the rule of law and with a skilled workforce at their disposal to exploit? How much do you think James Dyson would be worth if he grew up in Mogadishu? We all earn in partnership with wider society through the apparatus of the state. It’s not money they’ve earned exclusively through their own genius and hard work.
  8. There will be a real human cost to all this, and it won't be those that should bear it that do. But the irony of Brittania Unchained "unleashing the power of the markets" only to find out that markets are dangerous indiscriminate fuckers is quite hilarious.
  9. Keep your chip on the shoulder club shit to the club pages please. I'd love that Porteous to score, and would prefer him to start ahead of Gallagher, and I'm bitter as f**k.
  10. They're not getting smaller, your hands are getting bigger. It's probably acromegaly caused by a pituitary tumour. But don't worry, they're mostly benign.
  11. He looks like a dick and this fucking menu: https://drive.google.com/uc?export=view&id=1Yh73q52JmRLFRTsSde-Xdu119OsdZFRp Not sure whether I"m more irritated by the faux jocko slang or writing prices as £24 & 50p. Anyway, put a nappy on them and shitfest this to a draw please.
  12. I think that a league wide marketing strategy was one of the recommendations from that Deloitte report recently. It really shouldn't have needed a consultant to come up with that. The Swedish experience of using TV as marketing and increasing crowds is in line with the Netherlands and England's experience. Obviously Sky were a big part of that in England, hyping "the best league in the world" years before that was a remotely tenable claim. If Sky get behind us it would be win win. But they're not really, unless it's an OF game. Making attendance more enjoyable would be a huge help but it could be really difficult. I've ended up in the Main Stand at Pittodrie before and the sweetie-rustlers' idea of an enjoyable experience apparently didn't include me shouting, whereas mine did. Shouldn't be insoluble though.
  13. Great player. Him and Strachan were my favourites when i was a small child.
  14. I read those articles. The last one is paywalled and is the only reference to the government losing bns. Care to shate that content? The rest talk about £700m being paid to the government, not by it, so you'll understand if i don't want to take your word as gospel.
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