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Credit deflation and the reflation cycle to come (part 3)


spunko

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1 hour ago, Cattle Prod said:

Most physical traders are private and based on Switzerland, they are well aware of the dangers of governments who are cornered.

Sooo crypto happened? Does this mean my Sausage and Egg McMuffin is going to get cheaper?

Quarter pounder with cheese is 99p today on the app,luckily iv one 8p in diesel from my house next to Lidl

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Don Coglione
4 minutes ago, DurhamBorn said:

Quarter pounder with cheese is 99p today on the app,luckily iv one 8p in diesel from my house next to Lidl

Do you road-map the cost of diesel versus shoe leather too?

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48 minutes ago, ThoughtCriminal said:

We shouldn't laugh.

 

But fuck it.

 

🤣🤣🤣

Our communities were devastated when we came off coal,yet now look.There were companies up here who were developing carbon capture tech for coal and with a bit more cash would of got there,but were wiped out due to the pits closing.We are floating on the stuff here,so close to the surface as well.When i was a kid we still had rails in the roads in some streets,they were used for coal wagons.They just hauled them on trains down streets xD lads used to hold the back of them on their bikes and get an east transport.

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leonardratso

best put the locking cap back on the car tank;

Dear Student and Parent/Carer

 

We have had a report that the XXXX bus service operated by Pullman has been cancelled. They had a break in overnight at the depot and had some diesel stolen. They have said the afternoon service should run as normal.

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44 minutes ago, DurhamBorn said:

Our communities were devastated when we came off coal,yet now look.There were companies up here who were developing carbon capture tech for coal and with a bit more cash would of got there,but were wiped out due to the pits closing.We are floating on the stuff here,so close to the surface as well.When i was a kid we still had rails in the roads in some streets,they were used for coal wagons.They just hauled them on trains down streets xD lads used to hold the back of them on their bikes and get an east transport.

DB would be interested to hear From a macro perspective what was the reason for leaving coal in the UK in the late 70s/early 80s.Politically, there’s the Thatcher aspect vs Unions, but did the macro aspect look towards globalisation and disinflation and so leaving coal in the ground was just part of the economic direction?

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Virgil Caine
2 hours ago, DurhamBorn said:

Our communities were devastated when we came off coal,yet now look.There were companies up here who were developing carbon capture tech for coal and with a bit more cash would of got there,but were wiped out due to the pits closing.We are floating on the stuff here,so close to the surface as well.When i was a kid we still had rails in the roads in some streets,they were used for coal wagons.They just hauled them on trains down streets xD lads used to hold the back of them on their bikes and get an east transport.

Absolutely huge seams of coal under the North Sea were discovered when drilling for oil and natural gas. No worries about gas imports when the country ran on Town Gas back in the 1960s. So many missed opportunities to make the U.K. energy independent in the past 40 years frittered away by politicians and civil servant who would make goldfish look forward thinking.

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3 hours ago, Don Coglione said:

Do you road-map the cost of diesel versus shoe leather too?

just bought two great pairs of quality boots on Ebay £20 a pair ,but no i dont go that far,yet xD

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3 hours ago, dnb24 said:

DB would be interested to hear From a macro perspective what was the reason for leaving coal in the UK in the late 70s/early 80s.Politically, there’s the Thatcher aspect vs Unions, but did the macro aspect look towards globalisation and disinflation and so leaving coal in the ground was just part of the economic direction?

The dash for gas mostly,coal was dirty,and the unions a pain,but also cheap imports.We were very close to being able to clean burn it though.Funny enough when the pits shut an old guy said in the club,dont worry,better we burn other peoples while its cheap ours will be there when we need it.You never know.

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Transistor Man
8 minutes ago, DurhamBorn said:

.Funny enough when the pits shut an old guy said in the club,dont worry,better we burn other peoples while its cheap ours will be there when we need it.You never know.

Between 2012 and 2015, three major CCS projects were cancelled.

Drax, Longannett, and Shell at Peterhead. 

They had a ring fenced 1 billion pounds to be competitively bid for.

The then gov’s scientific advisor was very pro CCS. (Sadly died 2016)

Then it all got cancelled at the last minute. 

On projected economics, I’m fairly sure. 

That picture has no doubt changed very significantly now. 

 

 

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14 minutes ago, DurhamBorn said:

The dash for gas mostly,coal was dirty,and the unions a pain,but also cheap imports.We were very close to being able to clean burn it though.Funny enough when the pits shut an old guy said in the club,dont worry,better we burn other peoples while its cheap ours will be there when we need it.You never know.

I think there is a real truth to that. The US going to other countries and asking them to produce more oil to help the world out…is an interesting dynamic.

Why drain my oil/gas/coal to help other countries out…maybe short term for personal gain for some leaders and their families….but long term it could be like soil in the film Waterworld.🤦🏻‍♂️😆

If my little country were sat on a pile of oil, I would endure I didn’t swap it for a few bits of printable paper currency.

Makes me begin to ponder the ownership of the earths finite resources as an interesting concept. It could be in the future oil, food and industrial commodities are the new and only currency left. 

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Interesting last paragraph from Pippa Malmgren's latest newsletter regarding global strike action:

One thing will impede this process – CBDC. That is a new kind of magic that lets policymakers control both supply and demand, prices and behavior. It’s possible that strikes and inflation will accelerate the move to this new technology because it will allow policymakers to sustain the love affair with their own power. If it does, then all bets are off because monetary policy under CBDC has almost nothing to do with monetary policy under traditional money. CBDC will be a monetary policy revolution. But, we’ll leave that for another day given that they seem to be pretty afraid of the new-fangled technology for now, especially with all the noise from strikes going on!

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See I dunno if there is cognitive bias but I would guess one set of people badly want to believe that story.... personally it just sounds too far fetched to me.

Celsius I don't think started until 2018/2019 so how did a guy buying bitcoins for 10 years get all his money on there? Furthermore he would have learned some lessons in that period not to have all your eggs in one basket due to failures and theft.

It seems more exaggerated as those fat mums pretending they haven't got any food to eat and are feeding their kids and eating absolutely nothing themselves. The equivalent of a football player rolling around after being brushed trying to con the ref.

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Transistor Man
3 hours ago, Transistor Man said:

That picture has no doubt changed very significantly now. 

 

Ah ah ..... I didn’t know this: 

 

SSE submits Peterhead power station application

8 APR 2022

Plans have been lodged for Scotland’s first power station equipped with a carbon capture plant to remove CO2 from its emissions.

https://www.scottishconstructionnow.com/articles/sse-submits-peterhead-power-station-application

 

originally coal fired, then converted. You could probably still blow some coal dust in. 

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7 minutes ago, Transistor Man said:

equipped with a carbon capture plant to remove CO2 from its emissions.

Nice little mandatory overhead on energy costs there

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34 minutes ago, Boon said:

Celsius I don't think started until 2018/2019 so how did a guy buying bitcoins for 10 years get all his money on there?

Celsius allowed people to stake BTC etc that they already owned on the platform, for yields of up to 20%.

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7 minutes ago, Axeman123 said:

Celsius allowed people to stake BTC etc that they already owned on the platform, for yields of up to 20%.

I know this (yields are a smaller for non-degen currencies and you have to take the interest in their token for the larger amount), more of a rhetorical question.

Someone starting 10 years ago might have been affected by Mt Gox going down; that would be the equivalent of Coinbase and Binance blowing up on the same day...doesn't seem likely to me that any experienced investor would continue to hold 100% of their funds on a second or third-tier site in the aftermath of that.

I do believe it is something like this, personally I may have lost thousands in P2P sites like Lendy, which are awaiting the outcome of administrators, but I do believe that some compassionate discretion exists so if you are dying or something you can write to them and they may repay you something.

No such thing exists in this case (yet) so people are concocting some stories in the hope that someone shows some pity.

To me it is no different from one of those cladding owners claiming they can't sleep at night because they feel unsafe. Again, hoping for some kind of pity payment.

 

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Don Coglione
10 minutes ago, Boon said:

I know this (yields are a smaller for non-degen currencies and you have to take the interest in their token for the larger amount), more of a rhetorical question.

Someone starting 10 years ago might have been affected by Mt Gox going down; that would be the equivalent of Coinbase and Binance blowing up on the same day...doesn't seem likely to me that any experienced investor would continue to hold 100% of their funds on a second or third-tier site in the aftermath of that.

I do believe it is something like this, personally I may have lost thousands in P2P sites like Lendy, which are awaiting the outcome of administrators, but I do believe that some compassionate discretion exists so if you are dying or something you can write to them and they may repay you something.

No such thing exists in this case (yet) so people are concocting some stories in the hope that someone shows some pity.

To me it is no different from one of those cladding owners claiming they can't sleep at night because they feel unsafe. Again, hoping for some kind of pity payment.

 

Fuck 'em, let them burn.

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leonardratso

i cant sleep at night cos my arse hurts, i may have worms, wont someone please send me some ivermectin for free.

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He might not have any money, but he knows his wife's a slag and his kid could've got killed on a crosser. So overall he's in a much better position than he could've been. Divorce the bitch. She can't take half of nothing. Fucking new set of ears to hang her ankles on the cumbucket. Better off rid of her. 

And it's much better to be poor and have your kid alive even if he thinks you're a dick. In one fell swoop you've saved him from being maimed by those fucking stupid contraptions and given him a valuable lesson in not being a twat with your money. And he knows not to trust women now as well. 

All in all much more valuable than money. 

 

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