Lloyds Banking Share Discussion Threads

[xxxxxy] 30/5/2020 15:00

People think Dominic Cummings made a terrible blunder. Actually it was a strategic masterstrokeEveryone has treated the row as a disaster for the Government. But perhaps it was all part of a brilliantly worked planMICHAEL DEACONPARLIAMENTARY SKETCHWRITER30 May 2020 • 7:00am??Here's a thought. For a whole week now, Dominic Cummings has been mocked and excoriated for his Covid road trip. The story has caused no end of grief for the Prime Minister, for the Government, and of course for Mr Cummings himself.But what if this was his plan all along?Think about it. This is a man, don't forget, with a deserved reputation as a modern-day Machiavelli, a schemer supreme, a grandmaster of 4D chess. I posit, therefore, that Mr Cummings's delightful motoring tour of northeast England was not, contrary to popular belief, a ruinous political blunder. Quite the reverse. It was, instead, a dazzling strategic masterstroke.Daily Telegraph

[xxxxxy] 30/5/2020 14:31

EXCLUSIVE – SNP's Blackford & LibDem's Davey to land taxpayers with new £120bn EU billWe reveal what SNP, LibDems, Plaid, SDLP, Alliance, Greens want you to pay to the EU?© Brexit Facts4EU.OrgEU's new £2.2TN package turns any extension of Transition Period into a shockerThis week a set of announcements from the EU made the UK's full departure this year a necessity. The news also leaves opposition leaders Ian Blackford (SNP) and Sir Ed Davey (LibDems) with some serious questions to answer.On Wednesday in Brussels the EU Commission unveiled its financial plans for the EU for the next seven year budget cycle. These plans show at least some of the massive costs which would be incurred by the United Kingdom, were the British Government to agree to extend the Transition Period beyond the end of this year.BREXIT FACTS4EU.ORG SUMMARYThe EU Commission's proposed new budgetsThree safety nets of €540 billion in loans, already agreed by EU Parliament and CouncilNew recovery instrument, called Next Generation EU – worth €750 billionRevamped EU budget of €157 billion per year for seven yearsTOTAL : €2.4 trillion (approx £2.2 TRILLION GBP) over the next seven yearsThe impact on the UK if the opposition parties got their wayHere is what this could mean for the UK's finances, if the SNP, LibDems, Plaid Cymru, SDLP, Alliance, and Greens succeeded in getting the Transition Period extended. Looking solely at the new EU budget and the "Next Generation EU" rescue package, the calculation of the UK's potential liability to the EU is:-Approx £120 billion GBPThis would be incured if the UK sought a two-year extension to the Transition Period(Based on the UK's historic average of paying 12.5% of the EU's bills, and based on the EU's usual justifications of demands for payment.)Leaders of six opposition parties would open up the UK to this massive extra bill from the EU?   ?   ?   ?   ?   ?Six minority party leaders signed the letter to Michel BarnierThey lead parties accounting for just 19.5% of the electorateNone of the party leaders representing 80.5% of the electorate signed the letterMost readers will know that the leaders of several minor opposition parties at Westminster – all of whom are anti-Brexit and who are pictured above – wrote to Michel Barnier last week, requesting a two-year extension. He replied saying the EU would agree.The letter to Monsieur Barnier was signed by the SNP leader Ian Blackford, acting Liberal Democrat leader Sir Ed Davey, Plaid Cymru leader Liz Saville Roberts, Green MP Caroline Lucas, Stephen Farry, MP from the Alliance Party, and fellow Northern Ireland MP and leader of the SDLP at Westminster, Colum Eastwood.Monsieur Barnier replied, and we published his letter in our article on Thursday here.In the United Kingdom General Election of December 2019 – only six months ago - the combined votes for the six parties who signed the letter to Michel Barnier barely made it over six million. They represented only 19.5% of the voters and have 66 MPs out of a total of 650 in the House of Commons.Notes on the calculations for the extra billOur calculations cover the two years of the extension to the Transition Period requested by the SNP's Ian Blackford, the LibDem's Ed Davey, and their colleagues from other parties. We have only included the usual EU budget contributions and the liability for the EU's proposed "Next Generation EU" €750 billion rescue package.Whilst a third of the rescue package is supposedly a loan, the EU Commission President Ursula von der Leyen says payments "will be channelled through the European budget. And this will limit each country's contribution according to a fixed formula." In other words, it seems that recipient countries will be expected to pay back according to their net contributions, and 17 of the EU27 countries do not contribute in net terms at all. Whether any recipient countries ever do pay back these loans is a big question.It is worth reminding the opposition leaders that the EU would be highly unlikely to agree to a continuation of the UK's large rebate as it stands. This means that the UK's contributions to the annual budget could increase substantially. It should also be stated that when the UK voted to leave the EU, the EU held the UK responsible for all possible future payments for projects which had been envisaged but had not even remotely started. This is one of the reasons that the disastrous £39 billion "divorce bill" was so high.For these and other reasons based on five years of daily, detailed study of the EU, we believe that opposition leaders should be ready to justify to the British public an overall extra bill from the EU of more than the magnitude we have indicated.Finally, and for comparison purposes, the Centre for Brexit Policy recently published its own report on the costs of extending the Transition Period. Their report concluded that extending for two years beyond 31 December 2020 – as the smaller opposition parties want – would cost the UK £378 billion. And this was BEFORE the EU announced its proposals last week for increased funds.To reiterate, our calculation of an extra liability of £120 billion to the EU is only based on a very conservative estimate of the usual annual contributions, plus the liability for the EU's new rescue package.OBSERVATIONSThe anti-democratic antics of these MPs, colluding with a foreign power against the policies of the democratically-elected Government of the United Kingdom, have attracted significant criticism, not the least of which has come from us.In addition, our opinion is that Monsieur Barnier's reply last week constituted interference in the sovereign affairs of the United Kingdom – the EU's most powerful economic neighbour.Send the bill to the headquarters of all the smaller partiesAbove we have revealed one part of the huge cost which these opposition MPs wish to impose on the British people. Have they remotely thought this through? Have they even begun to tell the voters just how much more of people's hard-earned money they would be committing to spend?For these politicians, the Coronavirus is merely another excuse to try to thwart Brexit. They don't care about the added period of economic uncertainty they would cause. They don't care about the democratically-expressed decision of the British people. They simply want to stop Brexit at all costs.The Government must press firmly ahead with Brexit next weekWhen David Frost and his UK negotiating team go in to bat against Michel Barnier and his Eureaucrats in the fourth round of the trade talks next week, we hope they will do so knowing that a great many British people are behind them.Boris Johnson has made it perfectly clear that the Transition Period will not be extended. He even encapsulated this into law. David Frost has repeated this clear policy, as recently as this week. We suggest that Monsieur Barnier stops clutching at straws - and at straw men and women from smaller UK parties which are nowhere near the reins of power.Mr Barnier should tell his masters and mistresses in the EU27's capitals that the EU will have to back down across the board if he is to get a trade deal with the United Kingdom.If you have never donated towards our work, may we suggest that today would be a good day to do so? Work like ours is immensely time-consuming, which is possibly why so few people seem to do it. Quick and secure donation methods are below. Your details will be confidential unless you expressly tell us otherwise. Thank you so much for promoting freedom of speech and supporting our work towards the achievement of a fully-free and independent United Kingdom.[ Sources: EU Parliament | EU Commission | SNP and LibDem social media feeds ] Politicians and journalists can contact us for details, as ever.Brexit Facts4EU.Org, Sat 30 May 2020Click here to go to our news headlines

[mikemichael2] 30/5/2020 14:26

Alp, i was talking about some average joe public, not a minority rich Brit, living in the Alps trading currencies for a living.

[alphorn] 30/5/2020 14:11

mm2 - "chaos and financial melt down"

On a personal basis there are opportunities of a lifetime, or at least several decades, to be taken. Some people have.

Certainly not easy to predict and actually do something.

I apologise if I have wasted your time and mine.

[bobdiamond1] 30/5/2020 14:07

bargainbob..there are less people in Scotland aren't there. Are the figures less per capita.

[bargainbob] 30/5/2020 13:54

Utricky get a grip m8 , deaths rates are much less up here . I really for fear for England at the moment .

[mikemichael2] 30/5/2020 13:43

My question to Buywell and Alp was purely a response of their 'dire' prediction of our catastrophic future (all down to brexit Min) however, i was not looking for some personal advice.

It is quite easy to predict chaos and financial melt down, but no one seems to come up with a solution.

[alphorn] 30/5/2020 13:19

......so says an Express reader.

ROFLMAO

[azalea] 30/5/2020 13:16

If Brexiteers have the same genetic code as U.S. cops, they are doing a lousy job in suffocating the Commies, Marxists and other extremist factions who make up our own Enemies of the State. As it stands, Brexiteers have led the country out of a corrupt organisation, in which individuality is not allowed and members have to obey the order 'One Rule fits All'.

[maxk] 30/5/2020 13:08

It's the lack of Bovril since the footy was shut down.

[minerve 2] 30/5/2020 12:52

Those cops in the US were just displaying another symptom of their feeling of superiority and entitlement that similar white men do over here.

Those cops and Brexiters share the same genetic code.

[alphorn] 30/5/2020 12:43

mm2 - you say that you are mainly in cash. With the end of June fast approaching for any Transition extension this may be the time to do nothing. Sometimes difficult to do but can be the best approach until there is some clarification. I do think that the possibility of worse to come is real although on the other side of the coin the Central Banks will keep printing money.
For Lloyds I have said several times that the Prefs are boring but give good yields (eg LLPE). Boring can be good!
My own situation is all in on bearish GBP with a view to closing out some soon. Cheshire's approach on that has been another way - am no expert on miners btw.

In summary, the next few weeks will be interesting, sitting and watching is not all bad.

[alphorn] 30/5/2020 12:33

G2 - yes, toxic. You would think that there is a pool of talent

[minerve 2] 30/5/2020 11:56

Take the pain. You voted for it.