tag:blogger.com,1999:blog-4073991368963140015.post2316878595587519641..comments2023-11-05T12:18:27.222+00:00Comments on Labour And Capital: Ignoring the stockmarketTom Powdrillhttp://www.blogger.com/profile/05511483398745094803noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4073991368963140015.post-71763098969574194202009-01-22T00:45:00.000+00:002009-01-22T00:45:00.000+00:00Could you argue it is a coincidence they timed the...Could you argue it is a coincidence they timed the short-selling ban to end slap bang on bank reporting season?<BR/><BR/>Charlie:<BR/><BR/>As for the decline in sterling, if RBS has assets weighted towards foreign currencies (mortgage securities, corporate paper etc) and liabilities weighted towards sterling (your savings account, borrowings from the B of E etc) then a devaluation will deleverage the balance sheet.<BR/><BR/>Devaulation will also help our trade deficit, spark inflation (especially if deleverageing/quantitive easing/gvt control of the banks get lending going again) reducing consumer debt in real terms and encourgaing consumer spending.<BR/><BR/>This is my latest theory, although I'm worried I might be going mad for thinking anyone actually knows what they are doing here.<BR/><BR/>Then there's the 'Iraq' theory - that the gvt are just doing what the yanks tell them to - part of the deal for them to bail out AIG?<BR/><BR/>I am turning into a conspiracy nut I think, so much for quitting smoking I'm off to the garage for some fags.Steven_Lhttps://www.blogger.com/profile/05029437876479574883noreply@blogger.comtag:blogger.com,1999:blog-4073991368963140015.post-49947946373060301802009-01-21T22:56:00.000+00:002009-01-21T22:56:00.000+00:00yeah I saw that piece!yeah I saw that piece!Tom Powdrillhttps://www.blogger.com/profile/05511483398745094803noreply@blogger.comtag:blogger.com,1999:blog-4073991368963140015.post-28427435343484193512009-01-21T22:44:00.000+00:002009-01-21T22:44:00.000+00:00The government won't be able to ignore the deterio...The government won't be able to ignore the deterioration of sterling...<BR/><BR/>The FT's gone a bit mad of late. Only the other day there was an article entitled "Shoot the bankers, nationalise the banks" - which makes me wonder whether there a Trotskyist group practicing entryism(!)Charlie Markshttps://www.blogger.com/profile/12770820928636046622noreply@blogger.com