The Markets hate democracy

[Busy_P]

Greece debt crisis: Markets dive on Greek referendum

European markets have fallen following Monday's announcement of a Greek referendum on the latest aid package to solve its debt crisis

http://www.bbc.co.uk/news/business-15533940

[M H]

Been following this Jack and there's an interesting scenario playing out. The markets are fearful of the vote resulting in Greece defaulting on all it's debt rather than the 50% write off that's been proposed.

[Busy_P]

Been following this Jack and there's an interesting scenario playing out. The markets are fearful of the vote resulting in Greece defaulting on all it's debt rather than the 50% write off that's been proposed.

Have you been following the MF Global thing too? Latest news on it: http://www.bloomberg.com/news/2011-11-0 ... funds.html

[Busy_P]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

[M H]

I'd only heard that MF Global had filed for protective bankruptcy but didn't know the detail Jack

[Busy_P]

An interesting video on the 50% write off

[youtube][/youtube]

and a link

http://www.telegraph.co.uk/finance/comm ... weeks.html

[M H]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

They're not the only ones as the bail out terms are far too stringent and take far too much cash out of the respective economies.

What I'm not sure of is if every major nation's in debt who do they owe the money to?

[Busy_P]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

They're not the only ones as the bail out terms are far too stringent and take far too much cash out of the respective economies.

What I'm not sure of is if every major nation's in debt who do they owe the money to?

The banking cartels.

[Busy_P]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

They're not the only ones as the bail out terms are far too stringent and take far too much cash out of the respective economies.

What I'm not sure of is if every major nation's in debt who do they owe the money to?

The banking cartels.

Britain
Barclays Capital Inc.
HSBC Securities (USA) Inc.

Switzerland
Credit Suisse Securities (USA) LLC
UBS Securities LLC.

Japan
Daiwa Capital Markets America Inc.
Mizuho Securities USA Inc.
Nomura Securities International, Inc.

Germany
Deutsche Bank Securities Inc.

France
BNP Paribas Securities Corp.

Canada
RBC Capital Markets Corp.

[M H]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

They're not the only ones as the bail out terms are far too stringent and take far too much cash out of the respective economies.

What I'm not sure of is if every major nation's in debt who do they owe the money to?

The banking cartels.

I know pension firms, banks etc buy government bonds etc but we own pretty much all the UK banks and recapitalised them. Effectively swamping them with cash. Were we for example to cancel the bonds held by government owned banks in exchange for a tranch of shares wouldn't that go a long way to solving our problems and significantly reduce the interest paid?

[Justin Credible]

if there was an award for the person responsible for the shittiest threads, the britvic loving ginger junkie would be a clear favorite

[M H]

if there was an award for the person responsible for the shittiest threads, the britvic loving ginger junkie would be a clear favorite

Be fair Gaz, I personally enjoy decent political and economical discussion

[Busy_P]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

They're not the only ones as the bail out terms are far too stringent and take far too much cash out of the respective economies.

What I'm not sure of is if every major nation's in debt who do they owe the money to?

The banking cartels.

I know pension firms, banks etc buy government bonds etc but we own pretty much all the UK banks and recapitalised them. Effectively swamping them with cash. Were we for example to cancel the bonds held by government owned banks in exchange for a tranch of shares wouldn't that go a long way to solving our problems and significantly reduce the interest paid?

I have no idea if that would be even possible with the regulations and controls in place at the moment.

[Justin Credible]

if there was an award for the person responsible for the shittiest threads, the britvic loving ginger junkie would be a clear favorite

Be fair Gaz, I personally enjoy decent political and economical discussion

each to their own I guess.

Its just that this financial market stuff has reached a level especially here in ireland due to our current state of affairs where it dominates everything and it gets annoying listening about it everytime you turn on the tv or listen to a radio.

[Busy_P]

if there was an award for the person responsible for the shittiest threads, the britvic loving ginger junkie would be a clear favorite

this is coming from a man who mods a star trek wanking forum. i dont need to say any more.

[Justin Credible]

I can hear Violins

[M H]

the greeks are gonna have to default on their debts at some point, its better to do it now than take more "bailout" loans.

They're not the only ones as the bail out terms are far too stringent and take far too much cash out of the respective economies.

What I'm not sure of is if every major nation's in debt who do they owe the money to?

The banking cartels.

I know pension firms, banks etc buy government bonds etc but we own pretty much all the UK banks and recapitalised them. Effectively swamping them with cash. Were we for example to cancel the bonds held by government owned banks in exchange for a tranch of shares wouldn't that go a long way to solving our problems and significantly reduce the interest paid?

I have no idea if that would be even possible with the regulations and controls in place at the moment.

Technically I don't see why it shouldn't be as it would simply be the banks buying back their own shares at an agreed price. It wouldn't affect their cash reserves as no cash would change hands. Like you I also don't know I'm just summising but it seems a sensible move as most of the debt was incurred to recapitalise the banks in the first place.

[Busy_P]

Technically I don't see why it shouldn't be as it would simply be the banks buying back their own shares at an agreed price. It wouldn't affect their cash reserves as no cash would change hands. Like you I also don't know I'm just summising but it seems a sensible move as most of the debt was incurred to recapitalise the banks in the first place.

i dont think most of the debt was incurred to recapitalise them, the debt is part of 60 year old debt bubble. Excluding bank bailouts the UK national debt is £1.1 trillion.

[Busy_P]

The interest paid on the national debt each year alone is £42.9 billion.

[M H]

Technically I don't see why it shouldn't be as it would simply be the banks buying back their own shares at an agreed price. It wouldn't affect their cash reserves as no cash would change hands. Like you I also don't know I'm just summising but it seems a sensible move as most of the debt was incurred to recapitalise the banks in the first place.

i dont think most of the debt was incurred to recapitalise them, the debt is part of 60 year old debt bubble. Excluding bank bailouts the UK national debt is £1.1 trillion.

Prior to the banks recapitalisation debt as a percentage of GDP was lower than most of (if not all of) the major world economies. Recapitalisation and bringing forward capital projects to stimulate the economy out of recession were the major factors behind the current debt level.

I see your point fully re the interest costs which are more than the defence budget I think. However, even with the cuts the debt's increasing.