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About Majorpain

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  1. Not built yet and its gas. The MOD owned 20 million odd barrel facility in Plumley, mothballed since 1985ish, would be a better bet.
  2. Of course, but the British Government currently has an unlimited printing press and the Saudi's and Russians are giving it away for a limited time only. Thats the one i was looking at, although like it the majority of the military fuel infrastructure went post 1991, and it was bunker fuel so no idea if it will store the modern stuff. There is still quite a lot of capacity to fill if it could be, even down to making sure all ships are topped up.
  3. Its getting crazy in oil world, pity the governments planning is nearly all focused on the virus, there is an opportunity to stock up with a load of cheap oil like the US is doing with its strategic reserve. Dont suppose there is anything existing like it in the UK that could be used? @Cattle Prod
  4. Investments and cash are treated separately, II do the following: Cash is spread across many banks, so you are protected to £85k x Number of banks. I think its 5 off the top of my head so £425k. Investments are held in trust in a nominee account sepearate from the actual company, MF Global's crime was they raided the nominee account to pay for their own losses so its not 100% but probably 99% secure. DYOR as ever as different brokers have different structures.
  5. It may be more, the system was (unsurprisingly) struggling to cope with the volumes and there may be some in next month who couldn't get processed in time.
  6. Construction companies are a huge spectrum from large multinationals to single builders, and then there are people who fully subcontract everything through to everything is done in house. So its far from a one size fits all im afraid! Im guessing ATM, but the majority of the damage will probably be done by zombies going bust rather than layoffs. Too many people are reliant on that cash coming in to pay for things on finance, it was always an accident waiting to happen, its just a really bad accident this time around. I said a while back that i thought 50% would go out of business, its been a steady drip of insolvencies since then but does seem to be following the old "I went bankrupt gradually, then suddenly".
  7. That's not the issue, the problem is they are leveraged up with debt they need to pay the interest on, and if sites are shut and things are not progressing they get no cash flow and go out of business.
  8. If anyone was wondering how some of the more financially dubious contruction companies were doing: The majority have shut their sites so we are clearing our NHS work and then shutting down for two weeks, i pity the subbies who are being given a choice of turn up and risk your staff's welfare or see you in court....
  9. In the long run it will just be another common cold, old people with weak immune systems being exposed to a "new" virus are the only ones who should be worried. But that's the same for every other bacteria and virus...... Its serious with the lack of immunity, but its not a showstopper.
  10. The Euro's biggest problem is that broke Club med, who have been living it large on the credit card for the last 10 years, are broke and the frugal North need to completely bail them out and guarantee their debt. Since that is politically difficult to put it mildly, the market smells blood (see the dollar during Europe hours), and any country who wants to leave the Euro will have to pay off its Target 2 inter-CB loans. Two countries who owe Germany the most are Italy (400Bn) and Spain (380Bn) Two countries currently getting most screwed by the Virus are.... Italy and Spain! Germany therefore has a 780Bn Euro problem, we shall see how far EU solidarity goes when they have to get their checkbook out.....
  11. Back above $1500..... If the panic selling has stopped things could be about to get very interesting.
  12. That business support is very welcome, Finance Director's everywhere will be sleeping a little easier over the weekend. I am intrigued about the loans however, the hordes of zombie firms would love nothing more than to leverage up to the max for a year with cheap government loans and leave the taxpayer with a very expensive bill when the inevitable "unfortunately" happens. There must be some form of stress test to sort the wheat from the chaff...
  13. 75% government 25% company is the intention i believe. Dont forget that the Govt is pumping cash in elsewhere, £350bn of other support measures alone is 16% of GDP and then there is (rightly) the blank check for the NHS for the virus. UBI should also be coming along the pipe with the next month to keep things ticking over which will be another big inflationary push. BOE has already said it will print as required.......
  14. Inflation is more money chasing less goods. Thats loads more money chasing much less goods.
  15. It will be helping, but the UK planning to print money to pay 75% of salaries for 3 months will be having a bigger effect IMO. Fed starting to go impressively printy as well. ECB? Hands are tied by the Germans, they have been way too slow and are going to pay the price.