robbin

My expertise is not all-knowing, but I have sufficient to express my opinion just as you do, thanks. Also, the obvious is not lost on me. I'm not inclined to swallow anything appearing in the media from whatever source, without somehow filtering it, or assessing what weight might be appropriate to attach to it. That's fine if it's your favoured approach, but no need to get snippy if someone takes a different view, or points out that believing anything you are told might not always lead to the most rigorously tested conclusions. I appreciate you are sore because you voted one way (the same as me, it seems) and the majority voted another, but there's no need to fall out about it - as I have posted elsewhere. There are far more important things in life. Indeed, I'll bet that prior to the last week, most people would not have lived their lives or got really stressed out by reference to what the pound/dollar exchange rate is! Short term movements in the market (particularly Forex) don't usually appear on anyone's radar on a day to day basis - nor should they. I don't suppose you were posting on here about the Euro exchange rate between 2009 and 2014? Quite right that you weren't. After all, a weaker pound carried benefits as well as drawbacks (e.g. a boost for exports and the current account) - swings and roundabouts.

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Ah yes, ETX Capital. That well known Forex, CFD and Spread Betting service. They have no vested interest in stoking up speculation and/or volatility in the market!!!

Jezza's heart clearly wasn't in it. Rumours have been put about that he even voted to leave, although I have no idea whether that is true!

To be fair, I didn't see all that much evidence of his sweaty deputy getting stuck in either. Ten days before the vote he was at great pains to stress that EU-wide freedom of movement rules for workers needed revising because that's what voters wanted.

It's stabilised. But I'm talking about the FTSE index by reference to what people were wailing about. Was my point not a valid one?

I think Jezza is a complete waste of space and unelectable as a PM. In fact I think the Labour party will get properly battered if it goes into an election with him in charge. However, I do think it's a bit harsh criticising him for his referendum stance. Yes, I agree he ought to have campaigned harder for his party line (having agreed to the party line). However, if by campaigning 'harder' anybody suggests he should have lied and/or exaggerated and/or threatened like Cameron, Osbourne, BoJo etc. then I don't agree. If anything he told it like it is and was way more truthful than those scumbags. He stressed that there were major problems with the EU (there manifestly are) and that it needed reforming (it plainly does) but that on balance it was still better that we be in and trying to reform it than out (with the various risks that may bring). Although I have no time for him or his policies, I think that was honest, if a little na?ve. He would have done better had he realised that politics is down in the gutter and that if he didn't follow suit he would be criticised for it! Now he's being lambasted for taking probably what was the most honest of all the stances I saw during the whole disgraceful, distasteful campaign on both sides. That's politics eh?! Meanwhile other politicians that lied through their teeth are now trying to excuse themselves and their lying by saying they just ran a "robust" campaign! Makes me want to vomit.

rendelharris Wrote: ------------------------------------------------------- > ...The opening figures > comparisons between a week ago and now are > irrelevant, what's relevant is that on Friday, the > day after the vote, the FTSE fell from 6338 to > 6138. It rallied slightly this morning to be > higher than it was the previous Monday (but still > more than 200 points below what it closed at on > Thursday), which I assume is what you're trying to > base "it hasn't dropped" on, but as of 15.57 today > it had fallen again to 5985. You can say it's > market volatility if you like but claiming it > hasn't dropped since the result was announced is > simply not true. ?85 billion has been wiped off > share values on the London exchange in the last > two (working) days. Ok. In the last 2 days about ?80 billion has been added and now the 100 index is almost back to how it was immediately before the vote and substantially higher than it was a week before the vote. Odd that we don't see comments on this forum pointing that out. All this stuff about the crashing market and then silence when it comes back to pretty much where it was - because that doesn't suit the hysteria.

I don't agree. A bit sad, yes, but not creepy.

This appearing also in the Telegraph... Italy eyes ?40bn bank rescue as first Brexit domino falls Italian premier Matteo Renzi may have to rescue Italy's banks in defiance of EU rules Italy is preparing a ?40bn rescue of its financial system as bank shares collapse on the Milan bourse and the powerful after-shocks of Brexit shake European markets. An Italian government task force is watching events hour by hour, pledging all steps necessary to ensure the stability of the banks. ?Italy will do everything necessary to reassure people,? said premier Matteo Renzi. ?This is the moment of truth we have all been waiting for a long time. We just didn?t know it would be Brexit that set the elephant loose,? said a top Italian banker. The share price of banks crashed for a second trading day, with Intesa Sanpaolo off 12.5pc, and falls of 12pc for Banka MPS, 10.4pc for Mediobana, and 8pc for Unicredit. These lenders have lost a third of their value since Britain?s referendum. ?When Britain sneezes, Italy catches a cold. It is the weakest link in the European chain,? said Lorenzo Codogno, former director-general of the Italian treasury and now at LC Macro Advisors. The country is the first serious casualty of Brexit contagion and a reminder that the economic destinies of Britain and the rest of Europe are intimately entwined. Morgan Stanley warned in a new report that eurozone GDP would contract by almost as much as British GDP in a "high stress scenario". Italian officials are studying a direct state recapitalisation of the banks, to be funded by a special bond issue. They also want a moratorium of so-called ?bail-in? rules and bondholder write-downs, but these steps are impossible under EU laws. Mr Renzi raised the subject urgently at a meeting with German Chancellor Angela Merkel and French president Francois Hollande at a Brexit summit in Berlin on Monday. ?There has to be a suspension of the bail-in rules and state aid rules at the highest political level in the EU, otherwise I don?t see how this can work,? said Mr Codogno. Italy The share price of Italy's biggest bank Unicredit has collapsed Italy?s banks are the Achilles Heel of the eurozone financial system. Non-performing loans have ratcheted up to 18pc of total balance sheets as a result the country?s slide into depression after the Lehman crisis. The new bail-in reform this year has brought matters to a head, catching EU authorities off guard. It was intended to protect taxpayers by ensuring that creditors suffer major losses first if a bank gets into trouble, but was badly designed and has led to a flight from bank shares. The Bank of Italy has called for a complete overhaul of the bail-in rules. It is now almost impossible for Italian banks to raise capital. They are caught in a pincer as the ECB simultaneously demands compliance with tougher capital adequacy buffers, in some case demanding fresh infusions of capital three or four times. Mr Codogno said the ECB is unwittingly destabilizing the banks in an overzealous attempt to make Europe?s banks safer. Italy is now paralyzed under the existing eurozone structure. Analysts say it desperately needs a US-style bank rescue along the lines of the ?TARP? in 2008, which used federal funds to mop up bad assets and stabilize the banks. This is forbidden by the eurozone. The government introduced a ?5bn rescue fund called Atlante earlier this year, but this was funded largely by the banks themselves rather than the state and has been overwhelmed by events. Mr Codogno said Italy is caught in a low-growth trap that is slowly eroding debt dynamics. ?I don?t think the Italian system is about to blow up. We could muddle through for years, but we need to get out of this loop,? he said. Hedge fund veteran George Soros warned that Italy faces the risk of a ?full-blown banking crisis? that could bring the rebel Five Star Movement to power as early as next year. So much for the 'bail-in'. Also, so much for any suggestions the rest of the EU can just ignore the effect of the UK leaving and carry on without engaging with the UK constructively.

Azira Wrote: ------------------------------------------------------- > I'm having trouble following your logic - are you > equating the EU with Nazi Germany? Eh? I'm also finding it difficult to understand that post, but even more so yours... the Somme was the bloodiest battle in history (over a million dead or wounded) and the largest battle of the First World War. In what way do you think a reference to the Somme is something to do with the Nazis?

Agreed! Stalker-like.

(Puts on tin hat and waits for sarcastic/hysterical/pompous/outraged/condescending responses...)

If you believe the more hysterical posts being put on this internet notice board in this particular part of the Metropolitan bubble.

Who cares? They are all either ill-informed, stupid or racist.

Agreed, but I didn't see anyone asking for her home address.

Why does it sound creepy? There's an entire thread (with over 400 postings on it) about local celebrities being seen in Sainsbos!

Of course not! But thanks for lightening my mood!

Nope

It's just a flesh wound.

Aw c'mon - best of 3? ...damn - best of 5? - come on it's only fair! Alright, let's call it a draw and stay as we are! Put's me in mind of the classic Monty Python King of Britain v The Black Knight (of the European Empire?) fight: Always worth a watch - even if just to cheer you up...

Unless you (or they) can't see past your (or their) bitterness and are a sh*t friend. In which case you (they) would be better off without them (you). That would be a shame seeing as the politicians on both sides lied through their teeth and stoked things up for their own cynical ends. If people are too caught up in the hysteria to see what is actually important in life, well that's a shame.

Or vice versa. Either way you can be friends.

Pretty much any PO - there's one on Forest Hill Road as well, I think. Or they can always just use their debit cards to pay for things. Depending on who the card provider is, the rate may be better than the PO cash exchange rate which is not exactly generous. They can always use their dollars when they get back home.

johnie Wrote: ------------------------------------------------------- > This helps me... That's funny! Mind you, I always thought Poo was a bit prissy and needed to man-up.