Re: Fractional reserve
The regulator got it wrong.
20 posts • joined 15 Aug 2009
The regulator got it wrong.
Because it was also a regulatory problem. The regulator sets the ratio.
Now ask why the state would leave off 9,200 bn from its debts, the pensions?
Yep, because MPs, any MPs would be dangling from the lampposts.
Lehman Brothers was insolvent (probably, it had huge losses on some California real estate deals) as well as being illiquid
Wrong. On Liquidation, the value obtained exceeded the liabilities. It was illiquid
But he was right in the way he constructed that auction. In fact that auction was one of the great triumphs of modern empirical microeconomics.
Really? The telcos borrowed to buy. The telcos then took the interest charges off their profits, and the tax revenues dropped afterwards.
All Brown did was bring forward taxation, spent it, and then because he thought the good times would continue, carried on spending creating the deficit.
Time for some damping
It's not damping. It's throwing a spanner into the gears. That's what a FTT does.
Consider a clear example. Put a FTT on transactions such as withdrawing cash from an ATM. It fits the Robin Hood tax. Lots of money. Lots of transactions. Lets cream off a quid for each withdrawal, and there is lots of money for governments to spend or give away.
What problems can you see? What effects? I can see lots. But the Robin Hood lot can't. The reason being they want the FTT to apply to other people, and in a way that isn't transparent.
Make the tax transparent and clear for all to see, and it will be seen for what it is, bonkers.
So how much 34 million?
How much on the NHS system? That was in the billions.
34 million is like arguing about swatting a mosquito when in the back ground there is a herd of rampaging elephants about to run right over you. Remember, its the mosquito that's the important thing.
Now for the real issues
Why is the DWP spending 5% of all the money it administers each year on itself? Any finance company would love a 5% per annum charge.
Why aren't the pension debts reported? Actually that's quite an easy one. 6.5 trillion appearing on the books would blow the ponzi scam wide open.
They don't like it up 'em, do they?
Politicians, quite prepared to snoop on us, but when someone snoops on them, they go apeshit.
Three has been tits up in EC2 for ages. No action yet from them to fix it.
Now for the follow up.
Where does the tax get paid?
1. Where we are?
2. Where the servers are?
3. Where the IP is owed?
4. To someone else?
1. We can switch data centers in 5 seconds.
2. A lot of this is Amazon's IP. Shouldn't the IP owner get a cut?
I'll give you one example. I've just worked on a project that used Amazon's cloud.
Hardware costs before were 1 million a year.
Putting it on the cloud dropped that to 80K.
That's without moving to spot instances (you bid for the machine) or reserved instances (you sign up for a year, two years for a cheaper rate).
That's not a fat cat in the middle. It's hard cash savings.
All I see is that the tax take has risen, which means the state is getting more of people's pay.
Try this paper.
4,700 billion's worth of debt missing from the government books, and that's not the only omission.
e.g Taxation with no services is the order of the day.
It's a double edged sword.
1. The citizen will do the same. End result, you compare the two videos. If the police video goes missing, cases will be lost.
2. Bad or criminal behaviour by the police and no action, removes the trust in the police rapidly.
For example, Tomlinson. OK - policeman is a thug who killed someone. What's more worrying is his colleages who kept their mouths shut. Only when the video comes out, do we find out.
3. Criminal cases. Defence says, give us the video. Police won't. End result acquital if the video isn't available.
That's what the current set up is. You offset all your expenses against your income. You pay tax on the difference. That difference is called profit.
Now how about taxing BMW on their profits. They are paying their tax in Germany, not in the UK.
Mind you, the Germans might decide they can raise tax from Rolls-Royce.
The solution is easy. Come implementation, resubmit the FOI. Then if they delay, they get done.
Since when did the police decide on what the law is?
It will also deal with the Inland Revenue buying stolen documents from overseas in tax cases.
SInce they've bought documents already, and presumably paid for them, its quite funny to find they can't use them.
If they had ruled in favour of the commons, then all you need is to have everyone on whatdotheyknow put in requests for the printed information.
The commons couldn't refuse after all. Committed by the first response, its then damned because every other request is for information not in the public domain.
It's missing a webcam. With a web cam you could have skype.
That's the missing feature, otherwise it almost makes my "I covert it list"
20,000+ deaths a year caused by errors in the NHS. Year on year.
Forget the US knowing about it. How about the UK citizen and customer.
Source - NHS