Things look very bleak for the Limey's (Bank of England)

[Mega]

http://www.telegraph.co.uk/finance/e...ic-growth.html

Mega's thoughts:-
BOE is flagging it, but the sad simple fact is we don't even have a FIRE econermy any more. The Fraud that is the city of London is failing & while there are a few bright spots (Jag/Landrover or Rolls royce aero engines) it go's NO where near enough to stop the side.

After 2 years, there be another 3 years etc...."They" try to kick the can down the street but not forever.

DRink deeply from the Well of nothingless !

Mike

[thunderdownunder]

Re: Things look very bleak for the Limey's (Bank of England)

Mike I think this link shows that your being over optimistic.
Banks(not only British) are margin % takers and produce nothing else.Home loans are a big part of their business. The really bad thing is the Banks have a Loan book that faces runoff from loans being repaid but very few new loans to replace the margin they make that keeps them alive. (not stated here but the average life of a loan is 7.6 years)

http://ftalphaville.ft.com/blog/2011...-deep-trouble/

Oh Yes they have Austerity induced credit crunch which will spiral down until the next new large War is rendered.

[makimanos]

Re: Things look very bleak for the Limey's (Bank of England)

Don't write out the Anglo-Dutch. I spent some time in London. My younger son is still there. They dare to speak the truth and the roots of the West India Co still exist. The next war with Iran would change everything.

[Starving Steve]

Re: Things look very bleak for the Limey's (Bank of England)

The U.S. dollar is backed by: (8,600 TONNES of gold) + (your bonds) + (your faith) + (your Pounds) + (beaver bucks) + (U.S. bonds) + (oil off of Southern California) + (oil that will soon come from Alberta's tar sands) + (oil in the Gulf of Mexico) + (oil in North Dakota, Wyoming, Texas, Kern County, California) + (oil shales) + (synthetic oil from coal, soon) + (oil in Alaska) + (possible oil off of the East Coast) + (atomic power) + (federal lands including most of Arizona and Alaska) + (plus a continent of natural gas) + (hydro-electric power) + (friendship with Saudi-Arabia and Kuwait) + (technology in Silicon Valley) + (major universities) + (silver at West Point, NY) + (oil under Los Angeles) + (military might) + (corporate might) + (Greek bonds, soon) + (California bonds soon) + (coal reserves) + (NAFTA) + (zero interest rates) + (Bernanke and Obama ) + (new Marshall Plans) + (financial innovation) + (productivity gains) + (federal infrastructure including freeways) + (freedom). + (free trade with Chile) + ( the cheapest real estate in the developed world ) + ( a compliant and large middle-class ) + (the goodwill of much of the world) + ( the first man on the Moon and a probe on the surface of Mars) + (a prosperous Canada and Mexico) + (complete bilingualism in California and Hawaii) + (Cuba about to be free) + (China prosperous, wise, and becoming open, democratic, and free) + (the fresh water of the Great Lakes) + ( fresh water in Canada ) + (forests everywhere) + (glaciers healthy and growing) + (Bin Laden "eliminated").

Everyone who has sold America, its dollar, and its allies short in the past has had their head handed to them, if not immediately, in the course of time..... Gold at $1575, but 'care to peruse the next chapter in the gold story?