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Post by numpty40 on Nov 29, 2019 23:43:25 GMT
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Post by Deleted on Nov 29, 2019 23:46:25 GMT
He’s been cleared twice a decade after the article you posted
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Post by numpty40 on Nov 29, 2019 23:50:49 GMT
He’s been cleared twice a decade after the article you posted That's ok then ***Edit***, Just been on Wikipidea.. "Due to Milošević's death during the trial, the court returned no verdict on the charges"... Not exactly cleared...
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Post by Deleted on Nov 30, 2019 0:00:03 GMT
He’s been cleared twice a decade after the article you posted That's ok then Well the thing is the court has found he didn’t actually do what he was accused of. I’m not saying it’s ok what happened at all. But the court found there was no such genocide and he was innocent of all the charges. That’s not to deny there was still a war and what happened was awful but your bashing Corbyn for saying he wasn’t guilty of what he was accused of and he wasn’t it turns out. I think anyone would struggle to believe what the media and the government tells them or has told them about wars after Iraq.
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Post by Deleted on Nov 30, 2019 0:05:35 GMT
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Post by foster on Nov 30, 2019 0:24:04 GMT
Define working class? Earnings? Skills? School tie? I don't make the definitions. Use the standard. So 4 hours later and Roger hasn't managed to answer this question despite his failed attempt at being clever and getting an adequate response. Even more so, no one has managed to answer what the tories will do for the working class or for the people of Stoke. Instead there are 4 pages of 'well, what have Labour done for Stoke?' followed by Corbyn bashing. Deflect.
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Post by foster on Nov 30, 2019 0:36:11 GMT
The EDM was in december 2004 2 years after that story, the people of Kosovo seem to disagree. Syria and Salisbury ? Yes exactly after. So the finding rightly or wrongly had been passed. I remember someone telling me Saddam Hussein had weapons of mass destruction and millions of people dying including a friend of mine in the British army arising as a result of what happened next...so when it comes to whose doing what in the Middle East I don’t believe any of them. I don’t think it’s anything the Conservatives can point fingers on when they continue to fund and support Saudi Arabia. It’s hypocritical beyond belief. Same with Israel being allowed to continue to encroach on Palestine. On Salisbury they refused to give him the fill evidence. He said the evidence he had seen pointed to Russia but without it all being disclosed he wouldn’t accuse them. I don’t think that’s unreasonable. He just wanted to be given all the evidence. Agree on Israel. It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic. I mean, if you've got the cash then it's perfectly acceptable to starve the Palestinians of food, of energy, of freedom of movement, of homes... While slowly stealing their land for your own illegal settlements.
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Post by salopstick on Nov 30, 2019 4:36:15 GMT
I don't make the definitions. Use the standard. So 4 hours later and Roger hasn't managed to answer this question despite his failed attempt at being clever and getting an adequate response. Even more so, no one has managed to answer what the tories will do for the working class or for the people of Stoke. Instead there are 4 pages of 'well, what have Labour done for Stoke?' followed by Corbyn bashing. Deflect. You miss the point It doesn’t matter what the tories say or will do for stoke. It seems the people of stoke seem to be waking up to the fact that labour do very little for the people of stoke despite being voted in blindly election after election. A promise of lies seems better than broken promises
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Post by trickydicky73 on Nov 30, 2019 5:58:17 GMT
Things have got worse, but I am not sure why. It may be a combination of things. I have been on my arse, recently, and I've never been directed to a food bank. How do you qualify? I believe you can just go if you need to. Sorry to hear you were on your arse. Hope things are getting better. Cheers for that. They are, slowly, with no help from the system that supposedly makes work pay....
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Post by trickydicky73 on Nov 30, 2019 6:14:11 GMT
So 4 hours later and Roger hasn't managed to answer this question despite his failed attempt at being clever and getting an adequate response. Even more so, no one has managed to answer what the tories will do for the working class or for the people of Stoke. Instead there are 4 pages of 'well, what have Labour done for Stoke?' followed by Corbyn bashing. Deflect. You miss the point It doesn’t matter what the tories say or will do for stoke. It seems the people of stoke seem to be waking up to the fact that labour do very little for the people of stoke despite being voted in blindly election after election. A promise of lies seems better than broken promises Exactly. Labour should be asking why places like Stoke are losing faith in them. John Mann warned the Labour front bench of a disconnect between working class voters and the party before the referendum. He wasn't listened to, and neither were their concerns. Brexit was, rightly or wrongly, the average Joe saying "enough is enough". The fact that Labour has pretended to respect that decision while doing the exact opposite is not lost on these thick racists. I know loads of people who have turned their backs on Labour because of Brexit, but also because of the Labour front bench; Corbyn, Abbott and Thornberry in particular. Natural, and former, Labour voters. They will be voting Tory for the first time, and it's not because of the right wing press. It's because Labour has taken the piss out of them.
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Post by serpico on Nov 30, 2019 8:57:52 GMT
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Post by CalgaryPotter on Nov 30, 2019 9:01:12 GMT
You’re right, but Brexit has already started that particular ball to roll. Off topic, which is ok. Nobody seems to able to argue about the original point. What have the tories promised that will improve Stoke? What have Labour promised that will improve Stoke? Stoke has been failed by national & local governments for years. To make it worse, the pottery businesses that did prosper in the past sold their soul to the Far East, cheap labour & a mass produced product that was no longer special.
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Post by GrahamHyde on Nov 30, 2019 9:42:16 GMT
Calm down guys, many have asked why the working class people of Stoke on Trent would vote Tory, I've just posted a possible reason. Stoke is on the up and it might just be coincidence that it's happening under a Tory government....... Do you feel like you and your friends have prospered in the last 10 years?
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Post by bathstoke on Nov 30, 2019 9:56:05 GMT
So 4 hours later and Roger hasn't managed to answer this question despite his failed attempt at being clever and getting an adequate response. Even more so, no one has managed to answer what the tories will do for the working class or for the people of Stoke. Instead there are 4 pages of 'well, what have Labour done for Stoke?' followed by Corbyn bashing. Deflect. You miss the point It doesn’t matter what the tories say or will do for stoke. It seems the people of stoke seem to be waking up to the fact that labour do very little for the people of stoke despite being voted in blindly election after election. A promise of lies seems better than broken promises B!%dy’e!!, did you $#!t the bed...
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Post by bathstoke on Nov 30, 2019 10:32:49 GMT
This is why johnson is avoiding the neil interview, if you're going to make a claim you should at least have the foresight to expect a follow up question and do some homework.
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Post by yeokel on Nov 30, 2019 10:59:29 GMT
I don't make the definitions. Use the standard. So 4 hours later and Roger hasn't managed to answer this question despite his failed attempt at being clever and getting an adequate response. Even more so, no one has managed to answer what the tories will do for the working class or for the people of Stoke. Instead there are 4 pages of 'well, what have Labour done for Stoke?' followed by Corbyn bashing. Deflect. Yes exactly after. So the finding rightly or wrongly had been passed. I remember someone telling me Saddam Hussein had weapons of mass destruction and millions of people dying including a friend of mine in the British army arising as a result of what happened next...so when it comes to whose doing what in the Middle East I don’t believe any of them. I don’t think it’s anything the Conservatives can point fingers on when they continue to fund and support Saudi Arabia. It’s hypocritical beyond belief. Same with Israel being allowed to continue to encroach on Palestine. Agree on Israel. It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic. I mean, if you've got the cash then it's perfectly acceptable to starve the Palestinians of food, of energy, of freedom of movement, of homes... While slowly stealing their land for your own illegal settlements. “ It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic.” It seems, similarly, that you can’t say anything about the problems that mass immigration may cause in the EU and/or in the UK. Well, you can, but then you’re a racist. And, your earlier question… “ Even more so, no one has managed to answer what the Tories will do for the working class or for the people of Stoke.” Much as I hate speaking up for the Tories, one thing they will do for the people of Stoke is make sure that the country they live in is not a bankrupt state which cannot afford a pot to piss in. They will also, I hope, make sure that we are sufficiently disconnected from the EU to not get dragged in to the civil war which will happen as the ‘haves’ within the EU begin to exert more and more power and influence over the ‘have nots’ within the EU.
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Post by Deleted on Nov 30, 2019 11:34:18 GMT
So 4 hours later and Roger hasn't managed to answer this question despite his failed attempt at being clever and getting an adequate response. Even more so, no one has managed to answer what the tories will do for the working class or for the people of Stoke. Instead there are 4 pages of 'well, what have Labour done for Stoke?' followed by Corbyn bashing. Deflect. Agree on Israel. It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic. I mean, if you've got the cash then it's perfectly acceptable to starve the Palestinians of food, of energy, of freedom of movement, of homes... While slowly stealing their land for your own illegal settlements. “ It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic.” It seems, similarly, that you can’t say anything about the problems that mass immigration may cause in the EU and/or in the UK. Well, you can, but then you’re a racist. And, your earlier question… “ Even more so, no one has managed to answer what the Tories will do for the working class or for the people of Stoke.” Much as I hate speaking up for the Tories, one thing they will do for the people of Stoke is make sure that the country they live in is not a bankrupt state which cannot afford a pot to piss in. They will also, I hope, make sure that we are sufficiently disconnected from the EU to not get dragged in to the civil war which will happen as the ‘haves’ within the EU begin to exert more and more power and influence over the ‘have nots’ within the EU. 1) Scroll back to my conversation with tricky. I don’t deny that there are issues with immigration nor have I accused anyone of being a racist. Thanks. 2) no matter how many times you’re pointed to the Conservatives own report that austerity has made the economy worse, we are currently on the brink of a recession and all the economists that have backed Labours spending plans and said they will actually be better than the Conservatives plans, you still spout this shit.
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Post by serpico on Nov 30, 2019 11:47:20 GMT
“ It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic.” It seems, similarly, that you can’t say anything about the problems that mass immigration may cause in the EU and/or in the UK. Well, you can, but then you’re a racist. And, your earlier question… “ Even more so, no one has managed to answer what the Tories will do for the working class or for the people of Stoke.” Much as I hate speaking up for the Tories, one thing they will do for the people of Stoke is make sure that the country they live in is not a bankrupt state which cannot afford a pot to piss in. They will also, I hope, make sure that we are sufficiently disconnected from the EU to not get dragged in to the civil war which will happen as the ‘haves’ within the EU begin to exert more and more power and influence over the ‘have nots’ within the EU. 1) Scroll back to my conversation with tricky. I don’t deny that there are issues with immigration nor have I accused anyone of being a racist. Thanks. 2) no matter how many times you’re pointed to the Conservatives own report that austerity has made the economy worse, we are currently on the brink of a recession and all the economists that have backed Labours spending plans and said they will actually be better than the Conservatives plans, you still spout this shit. Economists come from all kinds of different schools of economic thought, you could easily find 150 economists who disagree with Labours economic policies.
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Post by Deleted on Nov 30, 2019 11:51:08 GMT
1) Scroll back to my conversation with tricky. I don’t deny that there are issues with immigration nor have I accused anyone of being a racist. Thanks. 2) no matter how many times you’re pointed to the Conservatives own report that austerity has made the economy worse, we are currently on the brink of a recession and all the economists that have backed Labours spending plans and said they will actually be better than the Conservatives plans, you still spout this shit. Economists come from all kinds of different schools of economic thought, you could easily find 150 economists who disagree with Labours economic policies. How do you explain why Conservatives are continuing with austerity measures, still limiting spending and still claiming they have been good for the country when their OWN research concludes they are not? It’s almost like they want the rich to get richer and the poor to get poorer...
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Post by yeokel on Nov 30, 2019 11:52:30 GMT
“ It seems you can't say anything now about the atrocities that Israel is subjecting the Palestinians to. Well, you can, but then you're antisemitic.” It seems, similarly, that you can’t say anything about the problems that mass immigration may cause in the EU and/or in the UK. Well, you can, but then you’re a racist. And, your earlier question… “ Even more so, no one has managed to answer what the Tories will do for the working class or for the people of Stoke.” Much as I hate speaking up for the Tories, one thing they will do for the people of Stoke is make sure that the country they live in is not a bankrupt state which cannot afford a pot to piss in. They will also, I hope, make sure that we are sufficiently disconnected from the EU to not get dragged in to the civil war which will happen as the ‘haves’ within the EU begin to exert more and more power and influence over the ‘have nots’ within the EU. 1) Scroll back to my conversation with tricky. I don’t deny that there are issues with immigration nor have I accused anyone of being a racist. Thanks. 2) no matter how many times you’re pointed to the Conservatives own report that austerity has made the economy worse, we are currently on the brink of a recession and all the economists that have backed Labours spending plans and said they will actually be better than the Conservatives plans, you still spout this shit. "....nor have I accused anyone of being a racist." I don't think I've suggested you've done anything of the sort. You seem to be creating your own narrative here. And as for your point about austerity, I'm fully aware that it can be argued that it may have made things worse. I said this several pages back. I'm talking, above, about future spending plans. What's done is done, but what's ahead is still up for grabs. I don't "spout shit". I express opinions on matters and sometimes enjoy a healthy respectful discussion/debate on those matters. You should try it.
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Post by Deleted on Nov 30, 2019 12:04:49 GMT
1) Scroll back to my conversation with tricky. I don’t deny that there are issues with immigration nor have I accused anyone of being a racist. Thanks. 2) no matter how many times you’re pointed to the Conservatives own report that austerity has made the economy worse, we are currently on the brink of a recession and all the economists that have backed Labours spending plans and said they will actually be better than the Conservatives plans, you still spout this shit. "....nor have I accused anyone of being a racist." I don't think I've suggested you've done anything of the sort. You seem to be creating your own narrative here. And as for your point about austerity, I'm fully aware that it can be argued that it may have made things worse. I said this several pages back. I'm talking, above, about future spending plans. What's done is done, but what's ahead is still up for grabs. I don't "spout shit". I express opinions on matters and sometimes enjoy a healthy respectful discussion/debate on those matters. You should try it. Where is this evidence that Labour will bankrupt the country? Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank when the financial crash at happened - the very products which caused the crash?
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Post by yeokel on Nov 30, 2019 12:57:00 GMT
"....nor have I accused anyone of being a racist." I don't think I've suggested you've done anything of the sort. You seem to be creating your own narrative here. And as for your point about austerity, I'm fully aware that it can be argued that it may have made things worse. I said this several pages back. I'm talking, above, about future spending plans. What's done is done, but what's ahead is still up for grabs. I don't "spout shit". I express opinions on matters and sometimes enjoy a healthy respectful discussion/debate on those matters. You should try it. Where is this evidence that Labour will bankrupt the country? Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank when the financial crash at happened - the very products which caused the crash? The evidence is in the Labour manifesto, comments made by Labour politicians subsequent to its publication, and comments made by senior Labour figures such as Dianne Abbott which betray a very loose comprehension of the workings of mathematics and economics. For your second question, I would be more concerned if it was shown that the Tory chancellor was personally responsible for the “crash” or was one of the key decision makers who was responsible but, as far as I’m aware, he was just a fairly anonymous pen pusher/trader. One of tens of thousands in London. Do you think they were all equally responsible for it?
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Post by Deleted on Nov 30, 2019 13:11:44 GMT
Where is this evidence that Labour will bankrupt the country? Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank when the financial crash at happened - the very products which caused the crash? The evidence is in the Labour manifesto, comments made by Labour politicians subsequent to its publication, and comments made by senior Labour figures such as Dianne Abbott which betray a very loose comprehension of the workings of mathematics and economics. For your second question, I would be more concerned if it was shown that the Tory chancellor was personally responsible for the “crash” or was one of the key decision makers who was responsible but, as far as I’m aware, he was just a fairly anonymous pen pusher/trader. One of tens of thousands in London. Do you think they were all equally responsible for it? Yes. Derivatives gambling in the hope the economy failed. It made people very rich. These aren’t daft pen pushers - they knew what they were doing and the risks it they were taking. They carried on despite many warnings to stop. The warning signs were there but all they saw was £££. Ok so you can’t sight one example of an actual economist saying it would bankrupt the economy. Just what you think despite having shown many pages you don’t understand how the economy works or seem to show any interest in doing so. Just what the Conservatives are parroting despite their own research showing their lack of spending has harmed the economy massively.
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Post by serpico on Nov 30, 2019 13:19:28 GMT
"....nor have I accused anyone of being a racist." I don't think I've suggested you've done anything of the sort. You seem to be creating your own narrative here. And as for your point about austerity, I'm fully aware that it can be argued that it may have made things worse. I said this several pages back. I'm talking, above, about future spending plans. What's done is done, but what's ahead is still up for grabs. I don't "spout shit". I express opinions on matters and sometimes enjoy a healthy respectful discussion/debate on those matters. You should try it. Where is this evidence that Labour will bankrupt the country? Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank when the financial crash at happened - the very products which caused the crash? It’s not just their spending plans, it’s also about the consequence of their high taxes, high taxes will cause the tax base to shrink, people will move their money out of the country, private investment will dry up, people will be laid off, which will mean less money coming in through tax revenues, which means the state needs to spend even more to pay for the big government programs they’ve introduced, eventually when government spending far outstrips the amount you bring in through taxes it will lead to massive borrowing and eventually bankruptcy. I know it’s a cliche to say but the problem with socialism is you eventually run out of others peoples money, you talk as if there will be no counteraction to high taxes and that the amount you can bring in is static, it’s not, high taxes destroy wealth, when the wealth is adequately destroyed where’s the money come from ? Labours policy will eventually make some rich folk less rich, that’s all it will achieve in the long run.
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Post by yeokel on Nov 30, 2019 13:42:29 GMT
The evidence is in the Labour manifesto, comments made by Labour politicians subsequent to its publication, and comments made by senior Labour figures such as Dianne Abbott which betray a very loose comprehension of the workings of mathematics and economics. For your second question, I would be more concerned if it was shown that the Tory chancellor was personally responsible for the “crash” or was one of the key decision makers who was responsible but, as far as I’m aware, he was just a fairly anonymous pen pusher/trader. One of tens of thousands in London. Do you think they were all equally responsible for it? Yes. Derivatives gambling in the hope the economy failed. It made people very rich. These aren’t daft pen pushers - they knew what they were doing and the risks it they were taking. They carried on despite many warnings to stop. The warning signs were there but all they saw was £££. Ok so you can’t sight one example of an actual economist saying it would bankrupt the economy. Just what you think despite having shown many pages you don’t understand how the economy works or seem to show any interest in doing so. Just what the Conservatives are parroting despite their own research showing their lack of spending has harmed the economy massively. I don’t think that is actually true. I’ll admit I didn’t go to Oxford or Cambridge like your good self (in fact I didn’t even make it to college) so I probably don’t have as good an understanding of these things as you do but I think that derivatives traders actually bet against other derivatives traders on the movement in value of commodities such as oil, crops, currencies etc. They are not betting against those things per se, only against other similar traders who hold an opposite view. It is a zero sum game which does not benefit or suffer from trends in the economy. I presume you mean cite, not sight? If so, I’ve made quite a number of posts about this matter and I’ve nothing more to add to them. The one thing I can confidentially predict is that neither of us is ever going to know whether the current Labour plans would bankrupt the UK or not.
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Post by Deleted on Nov 30, 2019 14:05:31 GMT
Yes. Derivatives gambling in the hope the economy failed. It made people very rich. These aren’t daft pen pushers - they knew what they were doing and the risks it they were taking. They carried on despite many warnings to stop. The warning signs were there but all they saw was £££. Ok so you can’t sight one example of an actual economist saying it would bankrupt the economy. Just what you think despite having shown many pages you don’t understand how the economy works or seem to show any interest in doing so. Just what the Conservatives are parroting despite their own research showing their lack of spending has harmed the economy massively. I don’t think that is actually true. I’ll admit I didn’t go to Oxford or Cambridge like your good self (in fact I didn’t even make it to college) so I probably don’t have as good an understanding of these things as you do but I think that derivatives traders actually bet against other derivatives traders on the movement in value of commodities such as oil, crops, currencies etc. They are not betting against those things per se, only against other similar traders who hold an opposite view. It is a zero sum game which does not benefit or suffer from trends in the economy. I presume you mean cite, not sight? If so, I’ve made quite a number of posts about this matter and I’ve nothing more to add to them. The one thing I can confidentially predict is that neither of us is ever going to know whether the current Labour plans would bankrupt the UK or not. Google credit default swap. Read or watch The Big Short. It’s nothing to do with someone having an opposite it’s view. There is no opposite view or other trader. It’s someone going to to a bank saying I want to hedge my bets against this happening how much will you charge me. It’s basically gambling. It’s a product sold by a bank. There no “opposite” trader. And all the bankers saw what how much they could charge to sell the product with no thought as to the mess they would cause. The continued selling them even when the first signs of the crash started.
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Post by yeokel on Nov 30, 2019 14:44:59 GMT
I don’t think that is actually true. I’ll admit I didn’t go to Oxford or Cambridge like your good self (in fact I didn’t even make it to college) so I probably don’t have as good an understanding of these things as you do but I think that derivatives traders actually bet against other derivatives traders on the movement in value of commodities such as oil, crops, currencies etc. They are not betting against those things per se, only against other similar traders who hold an opposite view. It is a zero sum game which does not benefit or suffer from trends in the economy. I presume you mean cite, not sight? If so, I’ve made quite a number of posts about this matter and I’ve nothing more to add to them. The one thing I can confidentially predict is that neither of us is ever going to know whether the current Labour plans would bankrupt the UK or not. Google credit default swap. Read or watch The Big Short. It’s nothing to do with someone having an opposite it’s view. There is no opposite view or other trader. It’s someone going to to a bank saying I want to hedge my bets against this happening how much will you charge me. It’s basically gambling. It’s a product sold by a bank. There no “opposite” trader. And all the bankers saw what how much they could charge to sell the product with no thought as to the mess they would cause. The continued selling them even when the first signs of the crash started. Your words…. “ Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank?” Then Google “what is a derivatives trader” and follow this link… In fact, I’ll do it for you – here you go - Derivates TradersI’ve not seen the film (it’s a comedy film isn’t it?) but from its title it doesn’t look as if it is about trading derivatives.
Is it where you’ve learned about economics from yourself?
Perhaps I’d better try to watch it. Thanks for the recommendation.
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Post by Deleted on Nov 30, 2019 17:00:31 GMT
Google credit default swap. Read or watch The Big Short. It’s nothing to do with someone having an opposite it’s view. There is no opposite view or other trader. It’s someone going to to a bank saying I want to hedge my bets against this happening how much will you charge me. It’s basically gambling. It’s a product sold by a bank. There no “opposite” trader. And all the bankers saw what how much they could charge to sell the product with no thought as to the mess they would cause. The continued selling them even when the first signs of the crash started. Your words…. “ Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank?” Then Google “what is a derivatives trader” and follow this link… In fact, I’ll do it for you – here you go - Derivates TradersI’ve not seen the film (it’s a comedy film isn’t it?) but from its title it doesn’t look as if it is about trading derivatives.
Is it where you’ve learned about economics from yourself?
Perhaps I’d better try to watch it. Thanks for the recommendation. No I’m a corporate lawyer in London but what would I know eh. And no it’s a film based on a book by one of the American financial journalist explaining the origins and causes of the crash but well done at googling trying to look clever. I did say read the book but offered watch the film as it is easier and you might have a better idea of what you are on about. But you clearly have no desire to educate yourself. He was on the bloody board but you excuse him for not knowing what was going on. They all knew. They all knew the risks and they carried on even when the crash started looking likely. But yeah put him in charge of the country’s money. www.businessinsider.com/bubble-derivatives-otc-2010-5?r=US&IR=T
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Post by Deleted on Nov 30, 2019 17:17:08 GMT
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Post by yeokel on Nov 30, 2019 17:37:17 GMT
Your words…. “ Does it not concern you that the Tory chancellor was selling derivatives at Deutsche Bank?” Then Google “what is a derivatives trader” and follow this link… In fact, I’ll do it for you – here you go - Derivates TradersI’ve not seen the film (it’s a comedy film isn’t it?) but from its title it doesn’t look as if it is about trading derivatives.
Is it where you’ve learned about economics from yourself?
Perhaps I’d better try to watch it. Thanks for the recommendation. No I’m a corporate lawyer in London but what would I know eh. And no it’s a film based on a book by one of the American financial journalist explaining the origins and causes of the crash but well done at googling trying to look clever. I did say read the book but offered watch the film as it is easier and you might have a better idea of what you are on about. But you clearly have no desire to educate yourself. He was on the bloody board but you excuse him for not knowing what was going on. They all knew. They all knew the risks and they carried on even when the crash started looking likely. But yeah put him in charge of the country’s money. www.businessinsider.com/bubble-derivatives-otc-2010-5?r=US&IR=THey, why are you so angry? Calm down a bit and try not to take things so personally. I Googled it because that is what you suggested I do. Don’t you remember? It was nothing to do with “trying to look clever”. And I’ve just read the page on that link you’ve provided. If I’m honest, it seems to back up my view of these Derivitives Traders rather than yours in that it confirms that it is basically one trader having a bet against another trader and has little to do with the underlying commodity whether that be mortgages (in that particular case), or oil, grain, currency or whatever.
To quote from your link….. “ In a hedging scenario, an investor that has exposure to a variable interest rate can transfer the risk to a second investor (the counterparty) by entering into an interest rate swap. A swap is simply an agreement to exchange cash flows. If the interest rate goes up, the second investor pays the difference while the first investor pays the original rate (to the second investor) along with the cost of the swap.” In other words – a bet. And “Speculation in OTC derivatives involves no connection to an underlying asset or to a real business risk, but the liabilities and risks they create are real.”
In other words – the result is unconnected to and does not affect the value of the asset. Perhaps I’m wrong – I’m not a lawyer or an Oxbridge graduate, but that’s how it looks to me. Either way, I wish you a happy evening. But try not to get so mad.
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