Reply to: I'd rather have a bowl of coco pops

[BrilloPad]

Correct, which is why I said "should". A globally-regulated and standard currency is a wonderful pipedream but that relies on much greater equalities throughout the globe, which the current powers that be will clearly be reluctant to accept.

East and West are equalizing. They were roughly equal until ~1800. Then they diverged. Getting closer together now.....

[LondonManc]

Bitcoin et al are a loooooong way from being an alternative. The current unedifying debate about the blockchain capacity has really highlighted the risks of operating as a leaderless free-for-all.

Correct, which is why I said "should". A globally-regulated and standard currency is a wonderful pipedream but that relies on much greater equalities throughout the globe, which the current powers that be will clearly be reluctant to accept.

[BrilloPad]

Indeed!

No the answer is that this tulip has to correct. Last man standing.

When I worked at a hedge fund the head thought the end of the (banking) world was coming. So he switched everything to last bank standing. HBOS.....

In other news :-

People who own shares in banks failing to attract any sympathy whatsoever

[Tensai]

Which is where cryptocurrencies should be coming in. The problem is that they are completely unregulated and subject to dodgy deals, rather than the poorly regulated dodgy deals that we're used to.

Bitcoin et al are a loooooong way from being an alternative. The current unedifying debate about the blockchain capacity has really highlighted the risks of operating as a leaderless free-for-all.

[PurpleGorilla]

42?

Indeed!

No the answer is that this tulip has to correct. Last man standing.

[BrilloPad]

NIRP is not the answer.

QE is not the answer.

Derivatives are not the answer.

42?

[PurpleGorilla]

NIRP is not the answer.

QE is not the answer.

Derivatives are not the answer.

[BrilloPad]

Not to mention which it would likely kill the consumer economy since no one would be able to buy all the toys keeping the rich northern economies ticking over.

They money to buy those toys is being borrowed from the future.

One day the future will want it back.

[LondonManc]

Which is where cryptocurrencies should be coming in. The problem is that they are completely unregulated and subject to dodgy deals, rather than the poorly regulated dodgy deals that we're used to.

[seanraaron]

Isn't the problem with using precious metals that there isn't enough in the earth to underwrite all the virtual cash out there?

Not to mention which it would likely kill the consumer economy since no one would be able to buy all the toys keeping the rich northern economies ticking over.

[BrilloPad]

Global currency, outlaw religion.

Let's see what the maniacs hide behind then.

For a global currency what about gold? If not it will require a global government or else you end up like the EURO.

The only problem with gold is that DP will become the richest person on the planet.....

[seanraaron]

Coco bonds: what are they and why have they hit bank shares? - BBC News

The idea that the public will never again be called on to bail out the banks is not only untrue but a dangerous assertion.

Should have let the banks go to the wall in the first place. Iceland did and they recovered...hell if we're not going to make a profit on it, what's the point in shoring them up?

[LondonManc]

But no way of resolving without making the pile bigger.

2008 - issue = too much debt. Solution = add more debt.

As someone said earlier, we need to get rid of the pound. Lets just start again.....

Global currency, outlaw religion.

Let's see what the maniacs hide behind then.

[BrilloPad]

Its such a load of tulip.

But no way of resolving without making the pile bigger.

2008 - issue = too much debt. Solution = add more debt.

As someone said earlier, we need to get rid of the pound. Lets just start again.....

[PurpleGorilla]

Its such a load of tulip.