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Menelaus
28 Oct 12 13:15
Joined:
Date Joined: 03 Feb 05
| Topic/replies: 6,745 | Blogger: Menelaus's blog
"Several governments have not yet understood that they lost their national sovereignty long ago. Because they ran up huge debts in the past, they are now dependent on the goodwill of the financial markets"

Mario Draghi quoted in Spiegel Oct. 28, 2012
Pause Switch to Standard View If this doesn't wake you up, nothing...
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Report xmoneyx November 7, 2012 10:39 PM GMT
Like USA
Report Lix November 7, 2012 11:16 PM GMT
what about the countries that arent in huge debt?

must be some Mischief
Report sean rua December 7, 2012 6:44 PM GMT
Yes, who are the creditor countries, please?
Report Barzalona December 8, 2012 1:33 AM GMT
Little place called China.
Report sean rua December 9, 2012 4:37 PM GMT
Thanks, B.

From my contacts in that country, things are beginning to crack. If the Chinese economy dips, as I fully expect, what would be the consequences?

Would debtor nations be expected to help out their creditor?
If so, how?
Report Barzalona December 9, 2012 4:49 PM GMT
I think the China downplayed is overstated, of course nobody knows for sure.

They have so much room for monetary stimulus, base rates at circa 6%, this will allow them some method of stoking up the economy.

Problem is, until the increase domestic consumption they will be reliant on demand from overseas western economies, hence them bailing out the yanks and buying 3T yes Trillion in US T Bonds a few years back.

It's a difficult time to be an investor, so much uncertainty in the world, and it only increases daily.

You have to be prepared for the long term, don't buy hoping to turn a quick profit.

I like ETFs as a vehicle to gleen returns from the financial markets - research them, there is so much online.
Report Menelaus December 9, 2012 11:02 PM GMT
Really???

3T???

Yes, T as in Trillion in US bonds, did I get that right????

I'm starting to think that Froggy is right. This is a gambling site after all and perhaps it should be held to a lower standard. Laugh

China holdings of US paper NEVER exceeded 1.314 Trillion, which is only about 1,700,000,000,000 off the 3T number posted.

How do I know? The US government told me.

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfhhis01.txt

The rest of the post is kindergarten level economic commentating but who gives a toss anymore. I'll just leave it to someone else to recite a poem and explain it all. Cry
Report Eeternaloptimist December 10, 2012 12:04 AM GMT
No you won't. You will be back holding court and berating anybody else who has an opinion as you usually do you sad little man.
Report Menelaus December 10, 2012 12:29 AM GMT
You should try not to stalk me this late at night, you'll have nightmares all night.
Report Eeternaloptimist December 10, 2012 11:24 AM GMT
I thought you were leaving it? You couldn't. You can't. Sad little man shouting loudly just like a cockerel sat atop his own dung heap crowing proudly.
Report Menelaus December 10, 2012 11:56 AM GMT
Eeternaloptimist 10 Dec 12 11:24 
I thought you were leaving it?

It, yes, I left it, otherwise I would have put up a long post explaining it, how the China slowdown is real and how it will affect the markets.

So it, I left. You are either just too stupid to see it, or you are getting more desperate by the day. I say it's heavy dose of both.

Now, can you leave stalking my shadow? You can't. You are psychotic. Wink
Report Menelaus December 10, 2012 11:59 AM GMT
It's your turn to put up a poem and explain it

LaughLaughLaughLaughLaughLaughLaughLaugh
Report sean rua December 10, 2012 1:01 PM GMT
So, notwithstanding any poetry, was my mate in China correct to say that he is experiencing an economic downturn there that seems to be the general case across that land?ConfusedHappy

Also, though none have mentioned India, my view is that that's another place that's starting to falter.
I say this because we know that scrap metal deliveries from Liverpool docks to India are down. Whereas, a few years ago, they wanted as many boatloads as they could get, now demand has slackened.

No doubt some will sneer and take the piss, but, imo, the state of the scrap game is a reliable pointer to economic "health".

Moving away from harsh reality and into the make-believe world of the abstract and theoretical,
do any of the experts deny that even the "creditors" are "debtors"?
Report Barzalona December 10, 2012 1:08 PM GMT
Crikey - I really did upset men in that thread Laugh

Could spend hours googling and perfecting every post, trying to impress people over the internet... but only a certain type of pleb would resort to that... on a regualr basis I might add.

Like I said before... you don't fool me.
Report carlos monzon December 10, 2012 3:01 PM GMT
Menelaus     28 Oct 12 13:15  
"Several governments have not yet understood that they lost their national sovereignty long ago. Because they ran up huge debts in the past, they are now dependent on the goodwill of the financial markets"

Mario Draghi quoted in Spiegel Oct. 28, 2012



Iv heard this a few times myself, I realy couldn't believe wat I was hearing.

Shocking, that they insult the intelligence of the masses with such rubbish, and yet we do nothing, say nothing.
Report Menelaus December 10, 2012 4:21 PM GMT
@ Barzalona

If I tabled a business proposal with a client that contained that kind of a glaring error, I'd be thrown out of their offices in a matter of minutes.

Why?

Because it makes EVERYTHING ELSE in the proposal SUSPECT.

Having said all that, the rest of your post about China having room to ease because base rates are circa 6pc was a waste of time reading as well, but I'll let the passing through psychopath, who just posted with his second forum name, put up if not a poem then some pathetic putrid prose and try and explain it to you.

Chatlame on deck. Wink
Report Barzalona December 10, 2012 6:42 PM GMT
What kind of person has to work his hardest to impress annoynmous people on a betting forum?

Poor fecker

I wish you well, men... as you are clearly very ill.
Report Menelaus December 10, 2012 7:30 PM GMT
Well, you see, that's precisely the problem FSA approved person.

It's a betting forum, so according to you the standard is lower, ANYTHING goes, any piece of nonsense and unadulterated bullsh1t that mugs like you dream up is perfectly okay to post. You know, like picking the first number that comes up out of your arse like 3T, you know Trillion with a T, and putting it up while in reality being off by $1,700,000,000,000.

It's also all done anonymously, so clueless mugs like you can humiliate themselves by posting fiction, wrong information, data and analysis, and get to shamelessly do it all over again and again without any fear…….all in a matter of hours, all part of the same thread.

My posts speak for themselves because I don't pull information, data and analysis out of my arse. If you think I got anything wrong feel free to point it out to me. My posts are not meant to impress, only the passing through psychopath and you who parroted what he posted think that.

My posts are meant to inform and get you to think. The problem I'm running into is that in order for you to think, you must have a functioning brain. Like one that as a minimum acknowledges the problem when you miss a number by $1,700,000,000,000.

And if you think I'm putting things up anonymously on here then you either haven't been paying attention or you are a bigger fool than I even thought.
Report Eeternaloptimist December 10, 2012 8:18 PM GMT
Another poster sees through you Melly and you wonder why this is a ghost forum. Have a look in the mirror chump.
Report Eeternaloptimist December 10, 2012 8:27 PM GMT
7th December since any other thread was commented on. Speaks for itself.
Report Barzalona December 10, 2012 8:27 PM GMT
Anybody can act clever googling and regurgitating **** on here to impress... some maybe get away with it.

I smelt his BS a mile off when he tried to impress with his farcical Hugh Hendry gag... and lets be straight on this, men/melly.... it was a gag.

You may have thought you were impressing, alas you were merely showing yourself up for what you truly are.

Tell me, without the aid of google - why would having a base rate at circa 6% and GDP of circa 7% yoy not give an economy much room to manoeuvre?
Report Barzalona December 10, 2012 8:34 PM GMT
The Hendry thing is only a few months old and quite frankly I don't see that anything that's changed since. Besides, all the meat was in my post, the Hendry piece was to just reinforce the point. Besides, while you watch this stuff on video, someone of us live it in the flesh. He cost me a bottle of Krug at 390 quid and a few dozen Lock Ryan natives No1s at 3.50 quid each over at HIX's (just a short 10 minute walk from here) to at the end, after my pitch, look me in the eye and say...."Have you lost your fecking mind?"

---

Just a glorious fairytale, I particularly liked the classy part where he had to chuck in "just a short 10 minute walk from here"  Laugh

Cannot top that.  Perfection bullshining.
Report Eeternaloptimist December 10, 2012 8:40 PM GMT
He's certainly world class at it. Every now and then he drops one in.
Report Barzalona December 10, 2012 8:41 PM GMT
I think he is a great pet, and I will continue to have fun taking him for walkies here and there.
Report Menelaus December 10, 2012 9:17 PM GMT
Barzalona, when you finish playing with the other guys pecker, give me a shout, I'll be more than glad to keep pointing out your $1,700,000,000,000 mistakes.

The eternallysick chap can provide some value by cut and pasting another poem on here. But at least this time, he should pick the work of someone who didn't have the same mental illness issues as him, and didn't spend most of his life in an insane asylum.

LaughLaughLaughLaughLaughLaughLaugh
Report Barzalona December 10, 2012 9:21 PM GMT
Answer my question from above, without googling.

Bet you can't
Report Menelaus December 11, 2012 10:55 AM GMT
I didn't google your question, I don't have to, I already know the answer. But I googled the word "IDIOT" and your name came up.

I don't feel compelled to educate every clueless mug that shows up on here, especially one that misses a number by $1,700,000,000,000 and still thinks it's okay, while at the same time becoming  abusive and belligerent when I point out the grotesque mistake. All I will say on this is that your skin deep knowledge is on full display when you insist on making that childish statement... twice, and then wonder what's wrong when someone laughs at it.

If you think that google gives you all the answers, then I would strongly suggest you start doing it. It would at least prevent you from littering this forum with the rubbish and errors you keep pulling out of your arse and put up here.

Finally, I still find it amusing that you are blown away, and evidently still can get over it, from my mentioning my meeting with Hendry. What the feck do you think I do, and where exactly do you think I should go to raise financing for these deals, to the ATM machine down the street? Your reaction is nothing more than just further confirmation where on this totem pole called life you really belong......FSA approved and all.
Report Eeternaloptimist December 11, 2012 11:10 AM GMT
I don't feel compelled to educate every clueless mug that shows up on here,

LaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaugh Bravo. Despite the fact that you are the clueless mug you are compelled to wave your limp willy at every passing stranger. Top marks for chutzpah though.
Report Eeternaloptimist December 11, 2012 11:12 AM GMT
What the feck do you think I do, and where exactly do you think I should go to raise financing for these deals,

Even better. LaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaugh

But does raiding your mums purse to go and buy a loaf of bread constitute a deal?
Report Menelaus December 11, 2012 1:14 PM GMT
My stalker shows up right on cue.

Laughing so hysterically and ......so angry.

The funniest part is that this lunatic thinks he is in control of his own actions. People do all kind of insane things when you plant an itch that he can't scratch in their mind. Devil
Report Menelaus December 11, 2012 1:18 PM GMT
kind = kinds

he = they

My bad, I'll be more careful next time. I was wiping the coffee I spilled through my nose all over my keyboard when I saw his anguish plastered all over here......very loudly too. Wink
Report Barzalona December 11, 2012 2:22 PM GMT
He cost me a bottle of Krug at 390 quid and a few dozen Lock Ryan natives No1s at 3.50 quid each over at HIX's (just a short 10 minute walk from here) to at the end, after my pitch, look me in the eye and say...."Have you lost your fecking mind?"

--

Glorious, just glorius bullshine Laugh

I commend you highly, it's fabulous crap talk, world class.

You know you don't fool me, and you know I absolutely have your number hence the anger in your ripostes.
Report Eeternaloptimist December 11, 2012 2:34 PM GMT
He is very angry. So angry he tries to deflect that anger on to those laughing at his bullshiit. Now that is angry.

Hey Melly can you dip your toes in the ocean from your yacht or is it so big that you need a lift to get to sea level? LaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaugh
Report Menelaus December 11, 2012 5:35 PM GMT
The chap who let me feck with his head so much so that he can't think of anything else now, and the guy who put up a laughable comment about China having room to ease are consuling each other by stroking each other's tiny pecker. It would be funny if it wasn't so sad.
Report Barzalona December 11, 2012 7:31 PM GMT
So now you are suggesting China cannot ease monetary policy with base rates above 6%?

Laugh

you fecking clown... lets keep this going... too good.
Report Barzalona December 11, 2012 7:32 PM GMT
What that yack be moored just a short hop skip and jump from Pont De la tour?

Laugh Liar
Report Barzalona December 11, 2012 7:38 PM GMT
*would that yacht
Report Menelaus December 11, 2012 8:36 PM GMT
"So now you are suggesting China cannot ease monetary policy with base rates above 6%?"

"Tell me, without the aid of google - why would having a base rate at circa 6% and GDP of circa 7% yoy not give an economy much room to manoeuvre?"




I'm suggesting that you are an idiot extraordinaire, a clueless vile mug, who puts up skin deep knowledge sh1t he picks up from reading worthless mainstream media stuff, quotes grotesquely wrong numbers, throws in a couple of "circa" and "yoy" to impress, and fools himself he's anything more than a complete numbskull.

That's what I'm suggesting.

Is that clear to you now?
Report Barzalona December 11, 2012 8:37 PM GMT
Have I upset you?
Report Barzalona December 11, 2012 8:47 PM GMT
Sorry about that Laugh
Report Menelaus December 11, 2012 10:00 PM GMT
"So now you are suggesting China cannot ease monetary policy with base rates above 6%?"

"Tell me, without the aid of google - why would having a base rate at circa 6% and GDP of circa 7% yoy not give an economy much room to manoeuvre?"






I would much rather not do this and have you continue to walk around completely blind and parroting sh1t but I want you to see why a guy like me enjoys champagne and oysters chatting with Hendry while a numbskull like you sits there with his finger up his arse posting rubbish on this forum.

But first a WARNING. You should tell your passing through psychopath friend, you know, the one that you now seem to enjoy sitting around pulling each others pecker, to immediately abort reading this post for his own good. This post contains numbers, and to that POS numbers are like flashing the sign of the cross to a vampire. He goes running looking for his casket where he belongs.

Now, on with the lesson.

Just today, yes, TO fecking TODAY, the PBoC reported that banks extended 522.9bn yuan of local currency loans, lower than the 550bn yuan expected and significantly lower than the 562.2bn yuan at the same time last year. Aggregate financing (it includes other sources of financing than just bank loans) was 1.14tn yuan in November, the lowest level since August and significantly lower than than the 1.29tn yuan the previous month………YET, NO EASING ANNOUNCED!!!! Why? Are the Chinese so stupid as to not know "they have room to maneuver" and flood their financial system with money?

China's HSBC manufacturing PMI rose to 50.5, higher than last month's reading of 49.5, but lower than the flash number of 51.2 a mere few weeks earlier, indicating an economy stagnating and barely threading water…….YET, NO EASING ANNOUNCED !!!! Why? Are the Chinese so stupid as to not know "they have room to maneuver" in easing and support their economy?

China's growth forecast has been downgraded by just about every Wall Street outfit, the IMF and the OECD……YET, NO EASING ANNOUNCED !!!! Why? Are the Chinese so stupid as to not know "they have room to maneuver" in easing and stop the slide?

The Shanghai composite index has dropped 5.3pc so far this year, now dropping to a level last seen in peak crisis 2009……YET, NO EASING ANNOUNCED !!!! Why? Are the Chinese so stupid as to not know "they have room to maneuver" and support their equities market?

Are you starting to get it, halfwit?

No, I don't think you are, so let me spell it out for you. CHINA EASING HAS NOTHING TO DO WITH HAVING ROOM TO MANEUVER BECAUSE OF A BASE RATE CIRCA 6% AND GDP CIRCA 7% parroted by a numbskull like you. It has everything to do with high levels and volatility of deposit flows and………silence please…….inflation expectations that remain high. Have I lost you again? Well, let's go on then until your pea sized brain starts to see the light.

While numbskulls like you think China has "room to maneuver", the Chinese are actually TIGHTENING by conducting about 100bn yuan worth in reverse repos in the last few months. And since I'm sensing that you are ready to pass out by now, perhaps I should let you know what this means. It means they are draining liquidity out of the system, not adding to it like mugs like you expect because "they have room to maneuver".   You see my FSA approved mug, China typically injects liquidity on an ultra short basis using repos (they added 365bn yuan to the banking system this summer - it sent the composite higher for a little while and did absolutely nothing to stop the deceleration of their economy). Chinese deposit volatility is massively high and thus extremely sensitive to easing/tightening moves. It exaggerates the actions of the PBoC by multiples which makes the Chinese extremely cautious about conducting easing operations because they "room to maneuver". China's Depo-to-GDP ratio is 1.9 as compared with that of the US for example of 0.55. An almost 3.5 times higher ratio that as a result exaggerates the impact of easing the reserve requirement ratio, as deposits flow more sharply and dramatically. That's why we've seen the PBoC act almost in a schizophrenic way, loosening with the one hand and immediately after tightening with the other. AND IT ALL HAS NOTHING TO DO WITH BASE RATE CIRCA 6% OR GDP CIRCA 7%.

Are you starting to get it? I doubt it, but I'll go on anyways.

The other fly in the ointment is inflation, specifically food inflation. Inflation which Bernanke exports to China (I will need a separate post to explain this onto you) and inflation which is caused by easing volatility. The Chinese leadership understand as well as anybody the outcomes of food riots and they know first hand what the REAL inflation is, not the manipulated 3.5-4.5 CPI numbers they publish.  The Chinese know that Bernanke's QE4 is coming their way this week, they also know that the Japanese are about to go full retard with QE9 (or is it 10, I lost track) so they are for now taking it on the chin and sitting tight. AND IT ALL HAS NOTHING TO DO WITH BASE RATE CIRCA 6% OR GDP CIRCA 7%.

Only an idiot like you thinks that.

Class dismissed, but don't forget to pull your pants up on the way out.
Report Eeternaloptimist December 11, 2012 10:45 PM GMT
Do you ever have an original thought Melly?

Pull your pants up. Resident psychopath. POS. Idiot. On with the lesson. Class dismissed and on and one.

Change the record dope.
Report Barzalona December 11, 2012 10:53 PM GMT
You nitwit... a PMI reading above 50 indicates expansion within the sector, now stop blagging, stop googling and educate yourself.

You don't fool me, and you know it.  You liar.
Report Eeternaloptimist December 11, 2012 11:06 PM GMT
Even I know that. LaughLaughLaughLaughLaughLaughLaughLaughLaugh
Report Barzalona December 11, 2012 11:08 PM GMT
Never let this thread die... I am loving it.

I truly believe he is mental and deluded enough to think we believe his fairytales... and his constant anger and total "projection" with the "pea brain" etc jibes is golden.

Wonderful forumite Laugh
Report Eeternaloptimist December 12, 2012 12:52 AM GMT
Totally unbelievable though. Nobody would believe he could really exist. Only his mouth outstrips his ego and only his pecker is smaller than his brain.
Report Menelaus December 12, 2012 3:43 AM GMT
Sorry boys, school's out.

The forum knows what just took place here, only the hypocrites keep silent because, well......they are just hypocrites.

Two questions though:

1. to the psychopath who willingly handed me his mind on a silver platter: HOW COULD YOU BE SO FECKING STUPID?

2. to the numbskull who I just spanked: HOW WOULD ANYONE WITH THE INTELLECT OF A GOLDFISH GET FAS APPROVED?














































Calm down halfwits, the questions were rhetorical, I don't expect answers from corpses. Wink
Report Eeternaloptimist December 12, 2012 10:02 AM GMT
The forum does know what took place. You're back to posting in the middle of the night again. Did you have something on your mind and couldn't sleep? LaughLaughLaughLaughLaughLaughLaughLaughLaughLaugh
Report Menelaus December 12, 2012 10:38 AM GMT
I'm not surprised that posting from somewhere where it's not the middle of the night never crossed your two functioning brain cells mind.

Thanks for finally owning up to the truth by the way:

Eeternaloptimist 11 Dec 12 23:06 
Even I know that.

EVEN a clueless mug like me knows that

EVEN a complete idiot like me knows that

EVEN a disturbed psychopath like me knows that

Lot's of nice choices you gave us.Wink
Report Barzalona December 12, 2012 10:39 AM GMT
Only the very best post diatribe at 4am

thankfully they are just a 10 minute walk from Hix's

Laugh Liar
Report Menelaus December 12, 2012 10:47 AM GMT
Yeah, yeah, I get it, you are the FSA approved wise chap who posts rubbish and can't explain or answer the own sh1t his put up, but I'm a liar who just googles all the answers. //////snark


Pull your trousers up, I already said class dismissed. Laugh
Report Barzalona December 12, 2012 10:48 AM GMT
Takes a special case to google up something... and still get it wrong.

Take a bow.
Report Menelaus December 12, 2012 10:54 AM GMT
I wrote that with the full knowledge that it would be well over your head. I just wanted to have the pleasure in watching you wiggle trying to save face from being exposed as a complete fool. You are not doing a good job.........which gives me double the pleasure. Devil
Report Barzalona December 12, 2012 10:58 AM GMT
Huge issue with your self esteem hey?  80% of your posts on this forum end up with you trying to claim the intellectual high ground by calling your nemesis (at that time) "a thicko" or the like.

You are very skilled in the art of debate, along with googling, cut and pasting and of course talking out of your backside. 

Challenged once and you throw a barrage of thick this, brainless that, and you actually believe you "win" an argument by these means?  you do?  don't you? 

Laugh
Report Menelaus December 12, 2012 11:02 AM GMT
I have no idea what you just posted. It's a bunch of random words strung together in poorly structured sentences. You should get your psychopath poet friend to help you with that.

I'm a poet of a different kind. Grin
Report Barzalona December 12, 2012 11:04 AM GMT
Not really, you are a bored old boy, a failure in whatever field you entered, who now has enough time on his hands to post diatribe on a betting forum at 4am.

What a hero Laugh
Report Menelaus December 12, 2012 11:09 AM GMT
Same as the other thread.

Give me a shout when you want to learn. It doesn't do you any good to continue torturing yourself on here. You posted utter garbage because you are parroting wrong things you don't understand and got spanked for it.

Get over it, it happens all the time. Wink
Report Barzalona December 12, 2012 11:11 AM GMT
I'd rather be accused of posting rubbish, than cutting and pasting rubbish.  That would be the ultimate low, thinking you are impressing with a good bout of googling.... to then get caught posting nonsense that is swiftly ripped apart.

Hence your current angry stupor.

Too easy really... you are going to have to work harder, smarter... faster

Could I suggest... a new search engine?

Laugh
Report Eeternaloptimist December 12, 2012 11:38 AM GMT
Meltdown Melly yet again. LaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaughLaugh
Report bongo February 17, 2013 9:09 PM GMT
"Several governments have not yet understood that they lost their national sovereignty long ago. Because they ran up huge debts in the past, they are now dependent on the goodwill of the financial markets"
Mario Draghi quoted in Spiegel Oct. 28, 2012


I found this little blog interesting ( to me at any rate ) :
.
http://blogs.timesofindia.indiatimes.com/Swaminomics/entry/new-economic-activism-has-strong-political-roots

The article says that the threat of currency devaluation and flight of foreign investment if Indian debt was downgraded to junk status appears to have dictated the policies of their Chancellor ( Minister of Finance ).
No national sovereignty over their own affairs in India then.
Report sean rua February 19, 2013 7:11 PM GMT
Interesting.
Report atom burns March 17, 2013 10:22 PM GMT
Menelaus,

tough luck about the greek tragedy that is Cyprus bank accounts...lets hope you haven't put your dosh in this Trojan horse.

Good luck with your fishing expedition in the Aegan Sea.
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