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

[onlyme]

3 minutes ago, Majorpain said:

Local high street (in affluent area) had 6 banks two years ago, Santander, Barclays and now Nationwide gone when I went down yesterday.

Think Barclays are the worst for closing, pain in the arse, nearest is miles away, will wait a while to see who sticks around and look to move.

 

[Xtal]

I also had an overdraft facility removed this week. HSBC account I don’t use much and it had already been reduced from £400 to £50 recently.

[Gin]

Use & abuse the bank to pay my bills..keep cash in my safe for Armageddon..State pension pays all my outgoings..Still get a frisson of pleasure when paying cash for petrol ..I own my roof , table and food on it..I know 50% of my neighbours as friends . Our road has around 80 houses . Feels like a safe  place to be ..

I am circling the waggons ready for a collapse . Most rear gardens have all six foot strong fencing...mine has especially ..even thinking about putting carpet grippers all the way round on top .

I think I have been reading this thread too long ..

[Lightscribe]

19 minutes ago, Majorpain said:

Local high street (in affluent area) had 6 banks two years ago, Santander, Barclays and now Nationwide gone when I went down yesterday.

Local high street (in an unaffluent area of zone 3) had Lloyds, Natwest, Barclays, Santander and Halifax up until 2 years ago. Now just Halifax.

[HousePriceMania]

8 hours ago, DoINeedOne said:

My mum recently drew out some money at the internal bank machine as banks near us don't have counters any more just a member of staff wondering around looking lost with an iPad

 

She said there was a kid in a hoodie behind her acting weird, about an hour later in the supermarket some women with a pile clothes over their arm took her bag

Until my mum noticed and grabbed it, the women said sorry must of got caught on the coat hangers 

Anyway the police said its happening alot people watching people in banks and following them else where sadly its mostly pensioners in the banks

Mum said she her english was bad and looked eastern European 

So we now at the point that because my mum can't use banking apps or doesn't want too any large withdrawals i need to go with her

 

 

In another story my barber said people have seemed to notice there's not many cameras on the high street and there has been a-lot of attempted robberies people running into shops trying grab cash 

 

All fun and games....

Surely that's your dear old mum a racist for not being happy with all this multiculturalism wealth redistribution  ?

 

 

[Castlevania]

1 hour ago, sancho panza said:

I've never been able to buy an ADR in an ISA that I can remember.

I’ve got the Harmony ADR in my ISA. So South African companies are ok.

[Castlevania]

1 hour ago, JMD said:

SP, do you know what the approx divi is for Argentina Telecom (teo)? I'd like to buy some - and you very helpfully provided a link - but I'm still unsure on the basic divi metrics for this.

Only I'm thinking they may have recently stopped the divi, because depending on which site I use, I am getting either n/a or 10%. However it might just be me getting muddled by the Argentinian listed (common) stock (teco2) thats showing no divi, and the NYSE listed one showing 10%?

They paid out a month or so ago. It’s highly variable from year to year.

[Castlevania]

1 hour ago, Lightly Toasted said:

An unused line of credit must have costs/risks to the bank, because funding needs to be available in case the credit is drawn and because the borrower could ultimately default.

I presume those costs/risks must rise along with interest rates/general tightening.

Imagine if a bank faced a funding crisis, the last thing it would want would be loads of on-demand credit arrangements.

In the very early days of Covid when stock markets were tanking and credit spreads blowing out, Air France KLM drew down all their revolving credit facilities (for over $1 billion) to have as much liquidity as possible on hand. I doubt the banks were too happy at the time.

https://www.airfranceklm.com/en/system/files/press_release_revolving_credit_facility_13_march_2020_ve.pdf

 

[Bobthebuilder]

8 hours ago, DoINeedOne said:

South East, Sidcup area

Hello neighbor, I am just up the road from you.

[Lightscribe]

Well anyway… Dosbodders unite, failing to prepare is preparing to fail! 

When all the councils go bust (as the government has spent all the money on index linked pension increases) we’ll have somewhat of degradation in services.

Here’s a noteworthy video to enable us to get out of any pothole to come.

[geordie_lurch]

I'm already in the money (£3) after my £50 punt on the BBBY meme stock last week (after FX and commission charges) - next stop the moon Note the volume being traded

[feed]

I don't understand.. 

 

[Loki]

15 minutes ago, feed said:

I don't understand.. 

 

Banksters gonna bank

[Axeman123]

35 minutes ago, feed said:

I don't understand.. 

You know how the Taliban had fighting season only during the cooler months, well...the west has something similar, but only in the warmer months (because nat gas).

If you wanna talk melt-up fuel, imagine a limited easing of sanctions plus a fed pause in the next 6 weeks!

[ThoughtCriminal]

Don't know why DB is so gloomy on UK PLC, we're breaking records!

 

#winning 

[Yadda yadda yadda]

3 minutes ago, ThoughtCriminal said:

Don't know why DB is so gloomy on UK PLC, we're breaking records!

 

#winning 

Exports of promises correspondingly high.

[sancho panza]

1 hour ago, feed said:

I don't understand.. 

 

Maybe just maybe it ties in with this......

 

 

[ThoughtCriminal]

Pretty amazing stat, and even more amazing to hear him as he did it in real time.

 

Listen to those words. There's a lesson for us there.

[Cosmic]

10 hours ago, HousePriceMania said:

Pinched this from TOS.

Natwest having problems or are the just c**ts ?

NatWest did exactly that to my GF last year. She's pre arranged the 15k but the branch refused. Claimed my GF was "agitated" (she'd left our nipper for the first time) and they couldn't be sure it was legitimate. GF got annoyed and then they threatened to call the police... because she wanted to get the money she'd already pre arranged...

Closed the account.

[Ash4781b]

Starmer. Blimey I thought this lot were bad. Government debt holders might not play ball. 

“Labour says its plan to freeze the cap would be paid for by extending the windfall tax on oil and gas firms, and savings to government debt repayments caused by a lower rate of inflation overall.

Paul Johnson, director of the independent Institute for Fiscal Studies (IFS), has said protecting everyone from prices rises was a "very expensive thing to do".

He added that Labour's scheme would have to be extended beyond April next year to reduce inflation in the long term.

https://www.bbc.co.uk/news/uk-politics-62553338

[ashestoashes]

if energy prices go up by four times why not just cut your consumption by four times, easy

[ThoughtCriminal]

Don't want to panic anyone but Michael Burry just liquidated his entire portfolio. 

[Loki]

13 minutes ago, ashestoashes said:

if energy prices go up by four times why not just cut your consumption by four times, easy

I'd rather just lecture everyone I meet that the sky is angry so they can't have a car or a warm house, and use their energy instead

 

[Axeman123]

13 minutes ago, ThoughtCriminal said:

Don't want to panic anyone but Michael Burry just liquidated his entire portfolio.

On the other hand...

Place your bets...

[M S E Refugee]

24 minutes ago, ThoughtCriminal said:

Don't want to panic anyone but Michael Burry just liquidated his entire portfolio. 

I don't blame him!

My Portfolio is better than that shite!

https://hedgefollow.com/funds/Scion+Asset+Management