Lloyds Banking Share Discussion Threads

[xxxxxy] 16/6/2019 10:47

Boris for PM

Otherwise Farage for PM

[xxxxxy] 16/6/2019 10:45

A parallel currency?

By JOHNREDWOOD | Published: JUNE 16, 2019

The Economic Adviser to the Lega party, the larger of the two governing coalition partners in Italy, has come up with a scheme for mini BOTs or low denomination Treasury Bills. The Italian Parliament recently passed a motion in favour, though this is not binding and the Treasury is not yet printing and issuing these bonds.

The Italian state like others issues Treasury Bills to institutional investors. These are usually short term loans to help finance public spending. They can be traded against their electronic certificates.

This new scheme is to issue so called Treasury Bills or bonds with no repayment date and no rate of interest payable. They would be issued with physical certificates or notes in 10,20, 50 etc Euro denominations. Individuals could pay tax bills with them, or buy any goods or services from the state like petrol from a state owned filling station.

The European Central Bank has been asked about this. They have said if this is a parallel currency it is under the rules of the Euro scheme illegal. If these are debt instruments they have to be under the overall budget deficit and borrowing controls that apply in a single currency.

The mini BOTs look much like banknotes and would give the Italian state the effective right to print a money substitute to get round some of the controls on their economy from the Euro scheme. It is a provocative idea. So far they have put the idea into circulation but not the notes. If they did start to issue them it would be a major challenge to the Euro.

[maxk] 16/6/2019 09:11

.Tory moderates are already convinced Johnson has adopted a Brexit strategy that is impossible to deliver. Former universities minister Sam Gyimah said: “There is no sweet spot between what the [European Research Group] sees as the ideal resolution and what is right for the party and country. You either please them and imperil the government, country and party, or you pivot away from them and your own position is at risk. This is going to come to a head pretty quickly.

[maxk] 15/6/2019 23:52

Yes graham, they are all tories, and they all want to vote for the nu tory party under Rory.

[grahamite2] 15/6/2019 23:47

It would be interesting to do a word check on the comments to that article, Max.

evil
old
bag
witch
traitor
lying
ghastly
snake
vindictive
sick

well, you get the picture.

[maxk] 15/6/2019 23:37

There's no end to it...

[grahamite2] 15/6/2019 23:28

It's all coming out now



Theresa May has privately vowed to thwart any attempt by Boris Johnson to take the UK out of the EU without a deal, her allies have told The Mail on Sunday

The disclosure comes as senior party figures told The Mail on Sunday that Mrs May had voted for ultra-Remainer Rory Stewart in Thursday’s ballot of MPs

The Telegraph readership is foaming at the mouth about this evil old hag.

[cheshire pete] 15/6/2019 23:25

Boris knows that he can't do a U-turn on us leaving on 31/10/19 as if he were to the Tories would be toast at the next election, losing seats to the Brexit Party and putting Corbyn in power. Faced with this reality he cannot blink first when eyeballing Barnier, Tusk et al, assuming they're still in post when renegotiating starts. This time round they'll be dealing with a Prime Minister who believes in Britain and believes in Brexit.

[cheshire pete] 15/6/2019 22:57

Welcome back stonedyou.

Noel Gallagher top man, City fan too.

[minerve 2] 15/6/2019 22:27

Simple Minds - Promised You A Miracle

Excellent base player - Derek Forbes

[grahamite2] 15/6/2019 22:19

The Kraken Wakes! Only 10 o'clock, too!

[minerve 2] 15/6/2019 22:16

I wanna give you what I know you need so let's shake it up
I'm gonna give you that lovin beat so let's shake it up
You can have a love explosion, shake it up
That's full of love emotion, shake it up
This is a cosmic attraction, shake it up
Let's cause a nuclear reaction, shake it up.

[grahamite2] 15/6/2019 21:55

Nice to see you back, stonedyou!

And a most remarkable post, too.

[xxxxxy] 15/6/2019 17:01

LEAVE the EUSSR

LEAVE and WTO

[xxxxxy] 15/6/2019 17:00

QUOTE OF THE DAY
Scruton reflects on Twitter’s vigilantes…

“We in Britain are entering a dangerous social condition in which the direct expression of opinions that conflict – or merely seem to conflict – with a narrow set of orthodoxies is instantly punished by a band of self-appointed vigilantes. We are being cowed into abject conformity around a dubious set of official doctrines and told to adopt a world view that we cannot examine for fear of being publicly humiliated by the censors. This world view might lead to a new and liberated social order; or it might lead to the social and spiritual destruction of our country. How shall we know, if we are too afraid to discuss it?”

From order order

[maxk] 15/6/2019 15:57

Come on then, lets have the lloy brexit thread recommendations for the nu cabinet.

[grahamite2] 15/6/2019 15:38

The Daily Telegraph comments are particularly good today. Janet Daley has written about a fantasy cabinet, assuming Boris wins, and the readership have really run with the idea.

I love the idea of Norman Tebbit or John Redwood in charge of the BBC!