Lloyds Banking Share Discussion Threads

[mitchy] 31/8/2020 00:48

1700 new cases today and one new death !

[alphorn] 30/8/2020 22:25

I will try and put it in a nutshell. If the UK thought that a No Deal scenario was a realistic option then they would not have drawn out these talks until now; they would have lifted the uncertainty. For that reason, clearly a No Deal is not anywhere near a preferred option.
IMO we are still in a period of negotiation. We shall see whether the current team is tougher and smarter than all those other teams before it. Let us hope so.

[lefrene] 30/8/2020 21:50

Alp, for there to be a negotiation both parties must want an outcome that meets their own needs, whilst making business possible and worthwhile, with the other party.

But you don't start by saying, "you must give in to my demands, before I will even begin listening to your needs". It;s untenable, and actually ludicrous. In a business situation that party would be escorted from the premises, unless they had you under some sort of threat, or thought they had you under some sort of threat. In which it's not a negotiation but an order.

I've had some rum experiences in business, there's no shortage of petty tyrants in middle management in UK companies. The sort of people who have no personal risk in the enterprise, but feel they can try bully-boy tactics for their own ends. I'm always firm but very polite, and have simply walked away, there's always business to be had elsewhere on sensible terms. I have however twice got heads of transport depots dismissed for corruption when they have tried to ensnare me in their schemes. I would have left them alone but each attempted to intimidate me. With one of them I bought shares in his parent company (Salvesens, now long gone), and attended the AGM and asked some pertinent questions, and provided evidence of corruption to a room full of people, quite entertaining to see the embarrassment! Previously Salvesen's had tried to give me the brush off, plainly they didn't expect to see me at the AGM :¬)

[maxk] 30/8/2020 20:56

Everybody wants to rule the world.

[poikka] 30/8/2020 20:54

There's a thought, Alps: the UK wants to control its own affairs, while Brussels wants to control their affairs - and ours.

[alphorn] 30/8/2020 20:26

lef #506. You are describing a difficult negotiation.

I am just surprised that you are surprised. You must have has some difficult negotiations in your life. You, or the other party does not always get what they want.

[cheshire pete] 30/8/2020 20:16

Brilliant posts lefrene, enjoyed reading them. Much talk of inflating COVID debts away so holding onto big miners and added gold ETF recently. Recall gold being strong during periods of high inflation decades ago. Pity those whose savings will get devalued as a result of inflation though.
Property still a good hedge imv and HMG sabre rattling with likes of CGT hikes will only exacerbate housing shortage as investors will delay putting property on the market. Always happens when politicians meddle with the markets.

[jl5006] 30/8/2020 19:10

In your dreams tenapen.
Sadly she is a person elected by nobody but her mates?

[tenapen] 30/8/2020 18:56

Sturgeon is a Leader, Doing better than Bozo.

[jl5006] 30/8/2020 18:41

BB 480
I really wish you would go
You have no industry - dont talk about taking over BP bits - there is no future in that.
And as to currency - ????????????? U want to join the euro - long wait pal with disaster round the corner.
We - of course would be richer.
Just imagine Blackford and Sturgeon - leaders?
And no coming back!

[jl5006] 30/8/2020 18:36

Max
The treasury runs the Govt.
WTF are these CSs allowed to brief - they are supposed to be servants - just as all the quangos - they feel they are in control.
Time for reform DC

[lefrene] 30/8/2020 18:08

Alp, all this stuff about the suppose superior negotiating skills of Barnier and chums. Barnier is not negotiating. He is demanding our fish, demanding that the UK follow EU manufacturing procedures and protocols, and demanding that this is overseen by his court! Only when he has got what he wants will he deign to begin 'talks'! He thinks he is holding a gun to our heads, thus you know he and his ilk are utterly untrustworthy.

It's like you telling your grocer that you are changing your arrangements, and your grocer telling you, that you can't change anything unless you keep giving him your trout out of your trout pond, and that you can only buy goods of the exact same quality from a new supplier, and he has the right to inspect your new suppliers grocery delivery every week. You would look at him quizzically to see if he had gone mad (poor chap), and then laugh in his face and slam the door. It's not negotiating, it's taking an obstinate, aggressive, totally unreasonable stance, and then shouting loudly that the other man is in the wrong! Indeed almost a caricature of a Frenchman.

[lefrene] 30/8/2020 17:56

PateintCapital, I believe the current exercise is all about providing cover for the many $10's of trillions that have to be created to save the banking system from collapse, which it very nearly did on 17th Sept 19, when the repo market seized up due to the reserve banks refusing to lend at normal rates, because they knew that a high proportion of the banks asking for overnight loans, were very probably going to become insolvent that very night. The reserve banks used the FED to bail the situation out, and have continued to do so at a cost so far reckoned to be $14 trillion and more.

The FED has officially said they are no longer going to 'manage' inflation at 2%, but will let it run higher. Chances are they will mess up (perhaps intentionally), the tsunami of created money going into the real economy is plainly going to cause inflation, thus interest rates will have to rise to control it. It's an opportunity to normalise things perhaps around 6%? It's not on a whim that Buffet is selling down his bank holdings, and buying gold miners.

[xxxxxy] 30/8/2020 17:47

Sterling rises againBy JOHNREDWOOD | Published: AUGUST 30, 2020All those who think sterling will fall every time there is no progress on a Brexit deal need to think again.Over the last month of reports of no progress in talks sterling has risen by 3% against the dollar and 2% against the Euro. Over the last year of talks going nowhere sterling is now 10% higher against the dollar and 2% higher against the Euro.So why no rush by the pro Remain forces to express pleasure, when they are so ready to rush out misleading releases wrongly blaming Brexit every time sterling dips?

[mikemichael2] 30/8/2020 17:29

Why won't they tell us how bad they are?

[alphorn] 30/8/2020 16:50

M2's comment on Delaware is spot on. Add to that 'normalising' London and closing off the many loopholes.

[alphorn] 30/8/2020 16:48

PC - was tongue in cheek.

What was not tongue in cheek was the point of how no wealth taxes could lower a tax bill.

[patientcapital] 30/8/2020 16:34

Wasn't really meant as a proposal more a comment. At this stage of the cycle higher taxes would likely help to stifle any sort of a recovery. Might as well increase interest rates while they are at it. A very steady hand is needed. The next six to twelve months will be hard enough. Probably longer.

[minerve 2] 30/8/2020 16:17

“If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.” - IRS


Yeah, sounds wonderful and fair, so how come Delaware is a hedge fund 'mecca'?

[alphorn] 30/8/2020 14:48

The red ticker obviously does not like that idea. Let other people pay tax. Lol

Red tick in agreement. Tax is not for you.

[alphorn] 30/8/2020 14:44

PC - why not a wealth tax for everybody? That would bring in a return.

[alphorn] 30/8/2020 14:42

PC - no offense taken. My brother is a US citizen. You don't pay tax twice.

In times of low interest rates and yields a tax regime such as the UK with no wealth tax would mean that many individuals would pay less tax on that regime. That is why many Russians are in the UK.

In your proposal would you give refunds? ;))
(I shall have to ask my brother).

[utrickytrees] 30/8/2020 14:21

M2 I cant imagine people of your ilk havent been milking every tax loophole since the moment of its conception. I'd like to see capital gains taxed inline with income tax it would be an end to people receiving salary in the form of dividends. You could always tap Alphorn up for a job mucking out his stables then both if you could pay very little tax and hoard all of your money at the expense of the great british tax payer.