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Stalins Organ

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Posts posted by Stalins Organ

  1. Because I didn't think anyone would pointlessly dredge some POS that last saw service on the Ark.

    But go you. Well done for displaying the same command of minutiae and relevance as Mr Kettler.

    What - the RAW?

    given that it was developed 1988-89 (although admitedly first proposed a decade earlier) - completing NDI testing in 1989 and the programme not being cancelled until 2001 calling it from the Ark seems a bit unreasonable.

  2. Costard those "instruments" they packaged up the various mortgages into then onsold them are certainly a symptom - making them adds no value, and yet they got sold on for profit - a paper shuffling exercise that reaped vast amounts of money for some sectors at a cost we all recognise now.

    So yep - that's exactly the kind of thing that seems "wrong" to me - making money, but not making value or wealth.

    the US$ has to be the reserve currency for a long time as far as I can see - china would not be happy if it's trillion $'s was no longer up for it.....and that reserve is a pretty big stick to have clearly hiding in the background not being waved in any dealings with the USA!

  3. Gunner yes that's my understanding of how GS were abel to pay back their 10 billion and turn a profit so quickly - they used the liquidity it gave them to play hte market - but since hte market direction was fairly obvious it wasn't too much of a gamble...so they bade the 10 billion back with profit on top.

    costard I don't think that reserve capital lending is a great problem - it is a practical applicatio of banking - the system probably couldn't work without it. It certaily wasn't invented by GS & the limited liquidity it allowed was a problem befoer the emergence of cental banks as lenders of last resort, plus other regulations.

    It may be that the current situation is a logical development of RCL as it has been implemented.....but I don't see returning to the days of a gold standard as being a great improvement.

    Rather it is the immense amount of money that can be made without actually lending anything - essentially gambling on futures - I guess it is pure capitalism - literally making money by moving capital, whereas the making of money by investing capital into production seems much less profitable.

  4. Goldman Sachs manages to pay back it's $10 billion and make a profit, meanwhile CIT, lender to small businesses, is on the brink of collapse even with fed "bailout".

    I know nothing about these aother than what is reported - I certainly haven't done any in depth research, but it strikes me that the respective fates (or apparently/likely fate of CIT) are symptomatic of what is wrong with the financial system - GS made their money "trading" - they have no "toxic assets", and as long as they keep "guessing" correctly which way the markets are going to go they keep making money........without, as I see it, actually creating/adding any value at all.

    CIT have aparently lent to industry....they have actually invested in that part of the economy that creates wealth/adds value.....and that is their problem - that part of the economy is in trouble because of...well I don't really know but it possibly 'cos way too much money was going to another part that didn't create or add value to anything.

    Does anyone else see this as a fundamental flaw, or am I jsut being old fashioned to think that the basic creation of wealth/value should be more important than shuffling it around?

  5. It is the England and Wales Cricket board that controls "English" Cricket after all......and yes, they do actually play Cricket in Wales.

    It is probably unknown to (ot jsut not thought about by) many that Wales became a "legal" part of England by the England and Wales acts of the 16th century rather than always havign been a seperate kingdom that happened to be conquered or united with England.

    "Modern" Welsh nationalism is a fairly recent thing dating back to about teh 19th century.

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