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  • No Brexit extension if simply to gain time: French presidency

  • #1
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  • Mar 19, 2019 10:32am Mar 19, 2019 10:32am
as pound little bit plummet, a rare chart pattern reject points to more pain at brexit
  • #2
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  • Mar 19, 2019 10:32am Mar 19, 2019 10:32am
The little guy trying to play tough all of sudden, soooo funny.
Everyone can see the chart, but only a few can actually read it.
  • #3
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  • Mar 19, 2019 10:32am Mar 19, 2019 10:32am
Who is this Clown with Yellow Protestants in his ass to decide . Stupid comment
  • #4
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  • Mar 19, 2019 10:36am Mar 19, 2019 10:36am
Everything points to only two outcomes:
Either a Hard Brexit, most likely (with British regrets)
or a No Brexit.
  • #5
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  • Mar 19, 2019 10:41am Mar 19, 2019 10:41am
Quoting FX-Syndicate
Everything points to only two outcomes: Either a Hard Brexit, most likely (with British regrets) or a No Brexit.
no way hard brexit !! this is out of what EU and Britain can handle .
  • #6
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  • Mar 19, 2019 10:49am Mar 19, 2019 10:49am
Exactly right Emanuel this delay is about keeping the UK warm, never give way, we're almost there.
  • #7
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  • Edited Mar 20, 2019 6:12am Mar 19, 2019 10:58am | Edited Mar 20, 2019 6:12am
Quoting Ghass1234
{quote} no way hard brexit !! this is out of what EU and Britain can handle .
Britain depends more on EU than EU on Britain. The only thing EU will miss from U.K. is the Scotch Whisky and maybe Rolls Royce engines for Airbus aircrafts, but that's not an issue since GM and CFM International alternatives exists.

FYI EU companies like Airbus for instance can relocate part of it's industry to Eastern Europe, which is cheaper and has a similar expertise in product manufacturing.

90% of Vodafone Revenue is on E.U. This means most likely the company will split or move it's headquarter to some place in Europe... Ireland maybe?

Financial sector also started to move to places like Luxembourg and Frankfurt.

Point is E.U. has plenty of resources ready to take on any British sector.

U.K. will indeed be independent, but on the short term this will cost it the access to the E.U. market, which will have a significant impact on its economy.
  • #8
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  • Mar 19, 2019 11:06am Mar 19, 2019 11:06am
Don't trade eur gbp brexit drama off
  • #9
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  • Mar 19, 2019 11:06am Mar 19, 2019 11:06am
No change with GBP/USD, but I see USD/CAD has a great impact. Is it what make USD/CAD down o.O????
  • #10
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  • Mar 19, 2019 11:08am Mar 19, 2019 11:08am
Quoting andinurhasan
as pound little bit plummet, a rare chart pattern reject points to more pain at brexit


Please, how is this pattern? You can explain better?
  • #11
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  • Mar 19, 2019 11:15am Mar 19, 2019 11:15am
  •  Trader#3DC3
  • | Status: Unregistered Trader
Quoting FX-Syndicate
{quote} Britain depends more on EU than EU on Britain. The only thing EU will miss from U.K. is the Scotch Wisky and maybe Rolls Royce engines for Airbus aircrafts, but that's not an issue since GM and CFM International alternatives exists. FYI EU companies like Airbus for instance can relocate part of it's industry to Eastern Europe, which is cheaper and has a similar expertise in product manufacturing. 90% of Vodafone Revenue is on E.U. This means most likely the company will split or move it's headquarter to some place in Europe... Ireland maybe?...
Happy days then for the zone. The zone is slowing up and QE has failed. 10 years since the financial crisis and no inflation. All you have is a recession in Italy, Greece with all its debt problems, Germany (largest economy) narrowly missing a recession this last quarter and more than likely going into one this year. The ECB are loaning cheap money again to banks to try stimulate inflation again, kind of the wrong direction if the zone is "prospering" wouldn't you say ;-) ? You implying the Zone is going to do just fine without the UK (2nd largest economy) in its fragile state, I beg to differ. You keep convincing yourself then, let me guess, you long the EUR too this year on optimism. Good luck
  • #12
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  • Mar 19, 2019 11:20am Mar 19, 2019 11:20am
A No Deal Brexit is the default condition. Everything else is just political posturing and hot air.
Don't wait for the wind, take to the oars.
  • #13
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  • Mar 19, 2019 11:21am Mar 19, 2019 11:21am
Quoting OnlineAddict
The little guy trying to play tough all of sudden, soooo funny.
He is just getting in there before Giuseppe Conte can up-stage him.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #14
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  • Mar 19, 2019 11:23am Mar 19, 2019 11:23am
Quoting Pleiadian
A No Deal Brexit is the default condition. Everything else is just political posturing and hot air.
Indeed ... it may turn out that "everything is just political posturing and hot air".
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #15
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  • Mar 19, 2019 11:24am Mar 19, 2019 11:24am
Quoting Coimbra
{quote} Please, how is this pattern? You can explain better?
there is pin bar in h4 (ii patterns for a while), I am not trying to convince veteran technicians this is superior to whatever else they may be using. i trade naked chart,no indi. cheers
  • #16
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  • Mar 19, 2019 11:33am Mar 19, 2019 11:33am
Just wait until Fiat, Citroen, Renault, Peugeot, Mercedes, BMW and all other European car /truck manufacturers attempt to import their vehicles into the UK post Brexit. Do you think WTO import taxes will apply ?
Don't wait for the wind, take to the oars.
  • #17
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  • Mar 19, 2019 12:27pm Mar 19, 2019 12:27pm
Quoting Pleiadian
Just wait until Fiat, Citroen, Renault, Peugeot, Mercedes, BMW and all other European car /truck manufacturers attempt to import their vehicles into the UK post Brexit. Do you think WTO import taxes will apply ?
The consumer is paying for tariffs so Brits would have to pay much more for their cars. Imports from EU would most likely drop quite a bit also.
  • #18
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  • Mar 19, 2019 5:32pm Mar 19, 2019 5:32pm
This Brexit is a loose-loose project, all the way, since almost 3 yrs now. It is a total waste of energy, resources, time ... with the only objective to destroy a relationship that has been built over close to half a century. Both EU and UK will loose a lot of economical strength, UK a lot more than EU, but it is their choice and only their choice.
  • #19
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  • Mar 19, 2019 7:00pm Mar 19, 2019 7:00pm
What else is an extension for if not to gain time?
Come with me if you want to live....
  • #20
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  • Mar 19, 2019 8:47pm Mar 19, 2019 8:47pm
The final call will be pushed out 'till the elections in Europe. if central Europeans will take over the leadership than there won't be BrExit, if the actual incompetent leadership stays than BrExit it is...
The greatest risk in life, is not taking one!
  • #21
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  • Edited 10:42pm Mar 19, 2019 10:13pm | Edited 10:42pm
Quoting jeanmk
This Brexit is a loose-loose project, all the way, since almost 3 yrs now. It is a total waste of energy, resources, time ... with the only objective to destroy a relationship that has been built over close to half a century. Both EU and UK will loose a lot of economical strength, UK a lot more than EU, but it is their choice and only their choice.
It was Michael Barnier that showed the EU in its true colours with their vitriol. To quote Michel Barnier "My mission will be to make any Brexit withdrawal as tough as possible so the British will want to stay in the EU". So, Michel Barnier ignored the UK's democratic vote to leave the EU and to part amicably, he had no intention to part on good terms. The traits of a psychopath, wishing to harm others. Also the long term agenda of the EU is to destroy the culture of nation states, but with sweeteners hoping that the masses would not notice the EU agenda. I will let you figure out what the sweeteners are, as the sweeteners deliberately overpower a hidden toxin, go figure it out.
Don't wait for the wind, take to the oars.
  • #22
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  • Mar 20, 2019 3:43am Mar 20, 2019 3:43am
It will just take one of the 27 to veto the extension requested by TM and boom we are out of the EU.

BUT even if the extension, long or short, is granted by the EU, then the shenanigans in the UK parliament will continue to block Brexit, and ultimately, cancel Brexit altogether, if necessary by cancelling article 50 altogether.

The entire Brexit process has been sabotaged by the EU from the outset. The British remainer groupings in the civil service, remainer politicians and business interests have consistently denied the UK electorate the Brexit they voted for. Democracy in the UK as well as in the EU is dead unless Brexit proceeds.

If Brexit is denied then the UK will remain in the EU and the UK brexiteers will create massive disruption to EU processes in future.

The best outcome for democracy and the UK is a Brexit without a deal on the 29th March - then we can just sit back and watch the EU disintegrate over the next couple of years, as they lose much of the 100 billion surplus they export to the UK. Germany finally slips into recession, the ECB and EU banks run out of funds and the nation states one by one realise that the EU was no more than a pipe dream funded by Germany, for the benefit of Germany.
  • #23
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  • Mar 20, 2019 6:01am Mar 20, 2019 6:01am
  •  Trader#FB57
  • | Status: Unregistered Trader
For Traders : an opinion.
GBP continues to consolidate. However clearly it is vulnerable to serious Event Risk on the Brexit outcome.
UK has suffered from serious misunderstanding in dealings with EU rules based framework, and on their level of leverage versus the EU27, throughout the Withdrawal negotiations, reflected not least in some trader comment here over the last 3 years. Our analysis has suggested for some time that risk assessment in GBP Markets of that leading to a damaging No-Deal exit may be similarly skewed, and perhaps mispriced. There is no doubt that GBP value is being depressed by Brexit, and by Brexit uncertainty, but there is some evidence of a Micawberesque theme in market makers that "Something will turn up" making Risk of No-Deal whether by UK political faction design OR as is increasing worrying, by ACCIDENT, is unthinkable.
Its becoming more difficult to share that optimism.
  • #24
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  • Mar 20, 2019 6:21am Mar 20, 2019 6:21am
Quoting Guest
{quote} Happy days then for the zone. The zone is slowing up and QE has failed. 10 years since the financial crisis and no inflation. All you have is a recession in Italy, Greece with all its debt problems, Germany (largest economy) narrowly missing a recession this last quarter and more than likely going into one this year. The ECB are loaning cheap money again to banks to try stimulate inflation again, kind of the wrong direction if the zone is "prospering" wouldn't you say ;-) ? You implying the Zone is going to do just fine without...
Has not failed. FYI the inflation is so low because the Eurozone economy is too too strong, o.k.?

The issues which EU had with Greece and other southern countries was due to the lack of regulation and not because of the potential European Union has.

Prosperity comes when common regulation and not anarchy come into place. If you have to compete on the international stage you must have good laws implemented in all states.

And guess what: U.K. oposes further integration and it oposes such laws which must be respected by everyone.

But thanks to Brexit, things will change for the good and Europe will do even beter without this politically unstable member state which is upset because it looses ground once had on the international stage before E.U.
  • #25
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  • Mar 20, 2019 6:33am Mar 20, 2019 6:33am
Quoting FX-Syndicate
{quote} Has not failed. FYI the inflation is so low because the Eurozone economy is too too strong, o.k.? The issues which EU had with Greece and other southern countries was due to the lack of regulation and not because of the potential European Union has. Prosperity comes when common regulation and not anarchy come into place. If you have to compete on the international stage you must have good laws implemented in all states. And guess what: U.K. oposes further integration and it oposes such laws which must be respected by everyone. But thanks...
Checkout "Bail in" legislation, which was sneaked in so that EU citizens are not aware of its implications. Also check out "Target 2" legislation, brought in to manipulate the "capital flight" from southern european banks to northern european banks and then redirected back into southern europe via the German banking system. The EU or ECB is not in a healthy condition. The ECB is breaking its own rules.
Don't wait for the wind, take to the oars.
  • #26
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  • Mar 20, 2019 6:36am Mar 20, 2019 6:36am
Quoting FX-Syndicate
{quote} FYI the inflation is so low because the Eurozone economy is too too strong, o.k.?
You are joking???? EU economy strong????
  • #27
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  • Mar 20, 2019 6:39am Mar 20, 2019 6:39am
Quoting Pleiadian
{quote} Checkout "Bail in" legislation, which was sneaked in so that EU citizens are not aware of its implications. Also check out "Target 2" legislation, brought in to manipulate the "capital flight" from southern european banks to northern european banks and then redirected back into southern europe via the German banking system. The EU or ECB is not in a healthy condition. The ECB is breaking its own rules.
The EU is more corrupt than the current country holding the EU presidency Of course they manipulate everything to their own benefit, always have done, always will do.... How on earth can anyone believe the EU, the ECB or any politician supporting the EU.
  • #28
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  • Mar 20, 2019 6:51am Mar 20, 2019 6:51am
Quoting Pleiadian
{quote} It was Michael Barnier that showed the EU in its true colours with their vitriol. To quote Michel Barnier "My mission will be to make any Brexit withdrawal as tough as possible so the British will want to stay in the EU". So, Michel Barnier ignored the UK's democratic vote to leave the EU and to part amicably, he had no intention to part on good terms. The traits of a psychopath, wishing to harm others. Also the long term agenda of the EU is to destroy the culture of nation states, but with sweeteners hoping that the masses would...
You mind providing your source for Barnier's statement? Also, Barnier was was given a clear mandate for the negotiations. One man does not decide in EU.
  • #29
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  • Mar 20, 2019 6:56am Mar 20, 2019 6:56am
  •  Trader#3DC3
  • | Status: Unregistered Trader
Quoting FX-Syndicate
{quote} Has not failed. FYI the inflation is so low because the Eurozone economy is too too strong, o.k.? The issues which EU had with Greece and other southern countries was due to the lack of regulation and not because of the potential European Union has. Prosperity comes when common regulation and not anarchy come into place. If you have to compete on the international stage you must have good laws implemented in all states. And guess what: U.K. oposes further integration and it oposes such laws which must be respected by everyone. But thanks...
You entitled to your opinion and view just as I am entitled to mine. I am in the business of trading forex from a fundamental point of view. I'm not emotional influenced by my feelings, patriotism and loyalty towards a country or union. I look at the figures, as they do not lie and the figures in the Eurozone are not looking good.The big fundamentals are euro bearish, the economy is slowing and there will be no rate rises in the near future. You have a slowing economy, high unemployment and political risks as Italy now has an anti-EU coalition in government and we have rising populism in France and other nations.

The real problem in the zone in terms of getting broad-based growth is that many countries will not make the structural changes needed and the ECB have noted this. The ECB's mandate is to bring inflation close to 2% but Draghi has already said, the measures he is using won't work without action from national governments.
Eurozone is in deep trouble at present and the zone faces a bleak future with the economy unlikely to recover and rising populism which threatens the unity of the zone.

So on that note, I'm bearish the EUR. The EURUSD will be going back to 1.05 this year ;-)
  • #30
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  • Mar 20, 2019 7:12am Mar 20, 2019 7:12am
Quoting FX-Syndicate
{quote} Has not failed. FYI the inflation is so low because the Eurozone economy is too too strong, o.k.? The issues which EU had with Greece and other southern countries was due to the lack of regulation and not because of the potential European Union has. Prosperity comes when common regulation and not anarchy come into place. If you have to compete on the international stage you must have good laws implemented in all states. And guess what: U.K. oposes further integration and it oposes such laws which must be respected by everyone. But thanks...
If the EU is soo strong like you said then why is the UK fighting tooth and nail, risking recession and a weak economy just to get out?
Remember, brexit can potentially make UK a lone wolf with no strong allies in the region.
Always ontop
  • #31
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  • Mar 20, 2019 7:12am Mar 20, 2019 7:12am
Quoting FX-Syndicate
{quote} Has not failed. FYI the inflation is so low because the Eurozone economy is too too strong, o.k.? The issues which EU had with Greece and other southern countries was due to the lack of regulation and not because of the potential European Union has. Prosperity comes when common regulation and not anarchy come into place. If you have to compete on the international stage you must have good laws implemented in all states. And guess what: U.K. oposes further integration and it oposes such laws which must be respected by everyone. But thanks...
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #32
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  • Mar 20, 2019 7:17am Mar 20, 2019 7:17am
Quoting Pleiadian
{quote} Checkout "Bail in" legislation, which was sneaked in so that EU citizens are not aware of its implications. Also check out "Target 2" legislation, brought in to manipulate the "capital flight" from southern european banks to northern european banks and then redirected back into southern europe via the German banking system. The EU or ECB is not in a healthy condition. The ECB is breaking its own rules.
One of the ECB's problems is that it is not adequately supported by any government and particularly their central government .. except for the sake of public appearance. Listeners to the ECB post rate-setting meetings of a year or more ago will remember Draghi's almost monthly plea for the various governments to do something (read 'anything') to stimulate the economy.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #33
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  • Mar 20, 2019 11:11am Mar 20, 2019 11:11am
Feel bad for France having arguably a mentally unstable President. Who marries their high school teacher seriously?
Yea growing up most high schoolers crushed on their teachers but that is where it should end, a crush and fantasy not a reality.
I find it increasingly difficult taking anything Macron says with seriousness. He needs help.

As for Brexit, deal or no deal the UK will survive I can't unfortunately say the same for the EU daydream.
Read in between the price!!!
  • #34
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  • Mar 20, 2019 1:55pm Mar 20, 2019 1:55pm
Quoting Pleiadian
A No Deal Brexit is the default condition. Everything else is just political posturing and hot air.
I think it's all political posturing.
  • #35
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  • Mar 20, 2019 2:00pm Mar 20, 2019 2:00pm
Quoting calebfx
Feel bad for France having arguably a mentally unstable President. Who marries their high school teacher seriously? Yea growing up most high schoolers crushed on their teachers but that is where it should end, a crush and fantasy not a reality. I find it increasingly difficult taking anything Macron says with seriousness. He needs help. As for Brexit, deal or no deal the UK will survive I can't unfortunately say the same for the EU daydream.
I loved my 28 years old teacher when I was 17 but never enough to marry her. By the way the age difference between Macron and his wife is the same as Trump and his wife. So if Macron is unstable so if Trump. I think that UK is more daydreaming than the EU countries; except the few that will lose business.
  • #36
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  • Mar 20, 2019 3:58pm Mar 20, 2019 3:58pm
Quoting Pleiadian
{quote} Checkout "Bail in" legislation, which was sneaked in so that EU citizens are not aware of its implications. Also check out "Target 2" legislation, brought in to manipulate the "capital flight" from southern european banks to northern european banks and then redirected back into southern europe via the German banking system. The EU or ECB is not in a healthy condition. The ECB is breaking its own rules.
RESPECT that you know about things like 'bail in'. I googled it thinking it was something that only applied to EU but to my surprise found it had implications in Australia too!
Hope for the best, prepare for the worst.
  • #37
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  • Mar 20, 2019 4:09pm Mar 20, 2019 4:09pm
Quoting Hutch
{quote} I loved my 28 years old teacher when I was 17 but never enough to marry her. By the way the age difference between Macron and his wife is the same as Trump and his wife. So if Macron is unstable so if Trump. I think that UK is more daydreaming than the EU countries; except the few that will lose business.
Lool let's agree to disagree
Read in between the price!!!
  • #38
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  • Mar 20, 2019 4:31pm Mar 20, 2019 4:31pm
Quoting Hutch
{quote} I loved my 28 years old teacher when I was 17 but never enough to marry her. By the way the age difference between Macron and his wife is the same as Trump and his wife. So if Macron is unstable so if Trump. I think that UK is more daydreaming than the EU countries; except the few that will lose business.
Now we shaking tables 😂😂
Always ontop
  • #39
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  • Mar 20, 2019 5:27pm Mar 20, 2019 5:27pm
Quoting calebfx
{quote} Lool let's agree to disagree
Sure because we are civilised
  • #40
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  • Mar 20, 2019 5:53pm Mar 20, 2019 5:53pm
  •  Trader#343C
  • | Status: Unregistered Trader
So if we do get BREXIT then what happens to Euro Qualifications Group A?
  • #41
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  • Edited Mar 21, 2019 8:15am Mar 20, 2019 9:49pm | Edited Mar 21, 2019 8:15am
Quoting dab
{quote} RESPECT that you know about things like 'bail in'. I googled it thinking it was something that only applied to EU but to my surprise found it had implications in Australia too!
"Bail In" legislation gives your government the authority to steal money from your bank account, savings account, brokerage account or any other account that you have money in, so that they can "Bail In" any bank that crashes during the next financial crash, with your money, instead of a Governments Central Bank "Bailing Out" a failed bank. Both methods are immoral, as in a capitalist system they should be allowed to fail as being inefficient. Bankers always win and the masses always loose. Previously with a " Bail Out" the taxpayer picked up the bill and now with a "Bail In" every citizen picks up the bill from their personal finances. It has happened in Cypress.
Don't wait for the wind, take to the oars.
  • #42
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  • Mar 21, 2019 12:41am Mar 21, 2019 12:41am
Quoting Pleiadian
{quote} "Bail In" legislation gives your government the authority to steal money from your bank account, savings account, brokerage account or any other account that you have money in, so that they can "Bail In" any bank that crashes during the next financial crash, with your money, instead of a Governments Central Bank "Bailing Out" a failed bank. Both methods are immoral, as in a capitalist system they should be allowed to fail as being inefficient. Bankers always win and the masses always loose. Previously with a...
Both might be immoral but at least tax payer funded the burden is loosely means tested. Taking cash (esp from a brokerage account) penalises those in our line of work or who have higher proportion of assets in cash.
Hope for the best, prepare for the worst.
  • #43
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  • Mar 21, 2019 7:06am Mar 21, 2019 7:06am
Quoting Pleiadian
{quote} "Bail In" legislation gives your government the authority to steal money from your bank account, savings account, brokerage account or any other account that you have money in, so that they can "Bail In" any bank that crashes during the next financial crash, with your money, instead of a Governments Central Bank "Bailing Out" a failed bank. Both methods are immoral, as in a capitalist system they should be allowed to fail as being inefficient. Bankers always win and the masses always loose. Previously with a...
Do they have bail-in in Switzerland? ...If you know
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #44
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  • Edited 7:37am Mar 21, 2019 7:24am | Edited 7:37am
Quoting Exodus
{quote} Do they have bail-in in Switzerland? ...If you know

Switzerland is neither an EU nor EEA member but is part of the single market. It looks as though they have adopted the Bail In practice.

https://pestalozzilaw.com/en/news/le...l-switzerland/
Don't wait for the wind, take to the oars.
  • #45
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  • Mar 21, 2019 7:59am Mar 21, 2019 7:59am
Quoting dab
{quote} Both might be immoral but at least tax payer funded the burden is loosely means tested. Taking cash (esp from a brokerage account) penalises those in our line of work or who have higher proportion of assets in cash.
I gives the banks permission to be reckless, because they know that they cannot loose as they will get free money or as governments like to use the term recapitalise the banks.

The reason for Bail In legislation is because no Central Bank has the funds to fund another Bail Out, since the financial crash of 2007/2008, so they dreamed up the Bail In scam to make the public pay for it. The global financial system is on the verge of collapse and the US Dollar is now virtually toilet paper. There are rumours that Trump is going to bring back the gold standard and have a gold backed US Dollar, which would mean revaluing gold at least 10 X its current spot price.
Don't wait for the wind, take to the oars.
  • #46
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  • Mar 21, 2019 12:41pm Mar 21, 2019 12:41pm
Quoting Guest
So if we do get BREXIT then what happens to Euro Qualifications Group A?
This is the most important question asked about Brexit and I'm sure Theresa May has the answer.
  • #47
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  • Mar 21, 2019 1:35pm Mar 21, 2019 1:35pm
Quoting Hutch
{quote} This is the most important question asked about Brexit and I'm sure Theresa May has the answer.
Not important, just a distraction !

https://www.skynews.com.au/details/_5977992995001

Watch this video !
Don't wait for the wind, take to the oars.
  • #48
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  • Mar 21, 2019 1:57pm Mar 21, 2019 1:57pm
Quoting Pleiadian
{quote} Not important, just a distraction ! https://www.skynews.com.au/details/_5977992995001 Watch this video !
An Australian news anchor talking about something she has no understanding about at all..
  • #49
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  • Mar 21, 2019 2:59pm Mar 21, 2019 2:59pm
Quoting TraderTero
{quote} An Australian news anchor talking about something she has no understanding about at all..
She has terrific comprehension!
Don't wait for the wind, take to the oars.
  • #50
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  • Mar 21, 2019 3:10pm Mar 21, 2019 3:10pm
Quoting Pleiadian
{quote} She has terrific comprehension!
Maybe they should make her the next PM. It would guarantee a great future for Australia. Hard to find such expertise nowadays.
  • #51
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  • Mar 21, 2019 5:31pm Mar 21, 2019 5:31pm
Quoting Pleiadian
{quote} I gives the banks permission to be reckless, because they know that they cannot loose as they will get free money or as governments like to use the term recapitalise the banks. The reason for Bail In legislation is because no Central Bank has the funds to fund another Bail Out, since the financial crash of 2007/2008, so they dreamed up the Bail In scam to make the public pay for it. The global financial system is on the verge of collapse and the US Dollar is now virtually toilet paper. There are rumours that Trump is going to bring back...
I dispute your right to give the banks that permission, but suspect you meant It not I. At least in Australia we've just been through a royal banking commission and banks have anything but permission to be reckless at present. I see it as an absolute last resort as I suspect if one of our big four banks 'turned' on it's depositers there would be a revolt whether it be people not paying their taxes or just ending up on the dole and I'm sure many other reactions, none of it pretty.
Hope for the best, prepare for the worst.
  • #52
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  • Mar 21, 2019 5:43pm Mar 21, 2019 5:43pm
Quoting Pleiadian
{quote} Not important, just a distraction ! https://www.skynews.com.au/details/_5977992995001 Watch this video !
Pleiadian I watched the video and it looks like that this Australian commentator is smarter than your MPs.
  • #53
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  • Edited 6:16pm Mar 21, 2019 6:04pm | Edited 6:16pm
Quoting dab
{quote} I dispute your right to give the banks that permission, but suspect you meant It not I. At least in Australia we've just been through a royal banking commission and banks have anything but permission to be reckless at present. I see it as an absolute last resort as I suspect if one of our big four banks 'turned' on it's depositers there would be a revolt whether it be people not paying their taxes or just ending up on the dole and I'm sure many other reactions, none of it pretty.
You have to ask the question why have governments introduced Bail-In laws, so that citizens can have money stolen from any account in any institution, to refinance a bank and to stop that bank from going bankrupt. Don't you think that Bail-In legislation will encourage recklessness in banking, because the bank knows that if it crashes citizens accounts in any institution will be raided to refinance the bank. When it does happen then there will be civil unrest. One major flaw in banking is fractional banking, which has encouraged recklessness and that has created the debt saturated global economy that we currently have.
Don't wait for the wind, take to the oars.
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  • Mar 22, 2019 12:56pm Mar 22, 2019 12:56pm
Quoting Pleiadian
{quote} You have to ask the question why have governments introduced Bail-In laws, so that citizens can have money stolen from any account in any institution, to refinance a bank and to stop that bank from going bankrupt. Don't you think that Bail-In legislation will encourage recklessness in banking, because the bank knows that if it crashes citizens accounts in any institution will be raided to refinance the bank. When it does happen then there will be civil unrest. One major flaw in banking is fractional banking, which has encouraged recklessness...
Remember Cyprus in 2013. The Cyprus government wanted to "tax" all bank deposits by 10% so save the Bank of Cyprus and Laiki Bank from bankruptcy. The EU refused so Cyprus had to deal only with the two bankrupt banks. The result was that all deposits lower than 100,000 Euros were protected and 47.5% and all deposits above 100,000 Euros were seized with the amount seized converted into shares in the Bank of Cyprus. Bail-In legislation will not encourage recklessness in banking since most banks are already acting in a recklessness manner. The problem is that most countries have now enacted legislations to steal money from depositors using bail-ins in order to save "tax payers" from the disaster of 2008. To solve the problem not only fractional banking has to be slowly eliminated (like 10% less each year) but also investment banks must be totally prohibited from engaging in commercial banking.
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  • Posted: Mar 19, 2019 10:26am
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    Category: High Impact Breaking News
    Comments: 54  /  Views: 11,022