Britain - The Official Thread

[Liquid]

Yeah, but he probably meant the lining of Jimmy Savile's coffin.

That must be worth a few thou at today's gold prices.

 

[Sphinx]

I was interested by George Osbourne revealing to the Queen, that we still had some gold left. Just about everyone thought that when Gordon Brown sold 400 tons of gold at the lowest market price in history (in what now appears to be a secret bail-out of a US bank paid for by the British taxpayer), he'd dunked the whole lot of it.

I don't get it. If the US bank only required 2 tons of gold at a knock down price, why auction off 400 tons?

 

[Famine]

It worked like this:

• Bank B "borrows" some gold from Bank A for period of x years
• Bank B immediately sells gold for "n".
• Bank B buys "n" of high risk commodity
• [market forces occur]
• After x years, Bank B makes enough money on higher risk commodities to buy same quantity of gold.
• Bank B gives some gold back to Bank A
• Profit

This worked brilliantly if either of two things occurred. The commodity made craploads of money or the value of gold fell.

What actually happened was that market forces occurred in the wrong direction (probably investments in Japan that foundered in the late 1990s, combined with a decade high gold value) and Bank B were unable to buy back the gold - two tons of which, at the prices of the time, would have been $30m. And that's just Bank B - there were other banks in the same position because they'd done exactly the same - and the global banking system was in danger of collapse.

What they needed was not two tonnes of gold - they could neither afford to borrow nor buy it - but for the price of gold to fall. The way to do that is to flood the market with it - supply and demand. The UK at the time had the world's tenth largest gold reserve (about 3% of the world's total) and Gordon was a friend of the board of Bank Q.

Announcements of 17 auctions of gold later and the price of gold is at a 20 year low. The $30m gold was now $22m gold - the price of gold fell and the banks' investments became profitable again. The UK, meanwhile, lost $5.7bn of gold for $3.5bn - the bailout cost us $2.2bn. The same gold today is worth $24bn.


And apparently we're still bailing them out today, just a lot less secretly.

 

[Liquid]

Makes me love fractional reserve banking a whole lot more.

 

[homeforsummer]

Aaaaaand another head is on the kiddy-fiddling chopping block.

Lostprophets singer Ian Watkins charged with child sex offences

Bit of a bugger. I like Lostprophets. Innocent until proven guilty of course. But the police are really clamping down on this post-Savile, and fooling around with a 13-year old girl isn't out of the remit of "young, attractive guy in rock band".

 

[Liquid]

H from Steps?!

I kid, this is yet another terrible turn in the uproar over child abuse. Additionally, after the farce with Lord McAlpine there are plans afoot to reopen the Waterhouse investigation into the North Wales abuse scandal. There have been over 120 new and updated reports of abuse, with claims that Sir Ronald Waterhouse's original investigation only scratched the surface.

The second half of this year's main news stories have been nothing but kiddie fiddling and/or sexual inappropriacy. I find it very, very disturbing. Some of it hasn't even hit the main press; Private Eye has been running a few column inches about other former BBC employees, such as Dave Lee Travis, and their alledged sexual harassment.

 

[homeforsummer]

alledged

Important, of course, to note this at the moment. Watkins has been charged, but not convicted.

I don't wish to make light of something fairly serious like this, but my thoughts have been echoing those of a few I've seen on Twitter today: I've been to a few Lostprophets gigs, and I've seen the way some of the younger girls dress and act at these things. If I ever have a daughter she's not leaving the front door dressed like I've seen some of them...

I'm not condoning any subsequent behaviour, but it wouldn't surprise me in the least if a singer was metaphorically caught with his trousers down, fooling around with a 13-year old who looked 16+. His responsibility to check (or simply say no, which is the safer option), but you can see how he'd wind up in a situation like this. It's not a Savile-in-Broadmoor thing, at any rate.

And on the pictures issue, I do wonder what sort of thing his Twitter and Facebook followers would send him over private messaging. Can't imagine it's all happy-clappy fan stuff. Again, not condoning - naturally, if he does get sent stuff from under-age fans, it's probably best to delete it.

 

[Sureboss]

You can't make a nonce wish list, Liquid!

 

[Liquid]

Wha?

I wasn't even aware that I was doing so...

 

[Sureboss]

H from Steps?!

But anyway, going back a bit, Queen at Cabinet meeting = bad [/republican]

 

[Liquid]

Given that she rubber stamps our laws, I don't mind her being kept abreast of situations. You would think she supports the Conservative party, what with being central to the aristocracy and all that, but I bet she found Cameron and Osbourne really weasily and irritating.

I maintain that it's impossible not to.

 

[TyrrellRacing]

I don't. In the grand scheme of things, what we have now could be much worse and not much better.

 

[ExigeEvan]

The Queen, to my knowledge, has never been a political monarch. So I'm not too fussed on her sitting in on these meetings.

However, when King Charles Philip Arthur George whatever is a different being, and has already made his political intentions clear. I would be weary of him being involved and I think it would only give the Republicans a stronger argument.

Important, of course, to note this at the moment. Watkins has been charged, but not convicted.

I don't wish to make light of something fairly serious like this, but my thoughts have been echoing those of a few I've seen on Twitter today: I've been to a few Lostprophets gigs, and I've seen the way some of the younger girls dress and act at these things. If I ever have a daughter she's not leaving the front door dressed like I've seen some of them...

I'm not condoning any subsequent behaviour, but it wouldn't surprise me in the least if a singer was metaphorically caught with his trousers down, fooling around with a 13-year old who looked 16+. His responsibility to check (or simply say no, which is the safer option), but you can see how he'd wind up in a situation like this. It's not a Savile-in-Broadmoor thing, at any rate.

And on the pictures issue, I do wonder what sort of thing his Twitter and Facebook followers would send him over private messaging. Can't imagine it's all happy-clappy fan stuff. Again, not condoning - naturally, if he does get sent stuff from under-age fans, it's probably best to delete it.

Except the charges are specifically for an under 13 yr old and reports consistently state a 1 year old girl. I can only hope that's a typo in a press release because that's horrendous otherwise.

 

[Liquid]

That's true, compared to Charles, the Queen is very good at remaining apolitical.

 

[homeforsummer]

Except the charges are specifically for an under 13 yr old and reports consistently state a 1 year old girl. I can only hope that's a typo in a press release because that's horrendous otherwise.

Yeah, they're some pretty dodgy charges. Still reserving judgement until there's some sort of conviction, but it's a bit shocking.

I mean... I sort of expected it from Savile, but can't say I'd seen it coming from Watkins. You get used to seeing someone on stage or in interviews and just assuming they're fairly normal.

 

[ExigeEvan]

Yeah, they're some pretty dodgy charges. Still reserving judgement until there's some sort of conviction, but it's a bit shocking.

I mean... I sort of expected it from Savile, but can't say I'd seen it coming from Watkins. You get used to seeing someone on stage or in interviews and just assuming they're fairly normal.

Same, the charges are what I find horrendous, I'm not judging him yet.

 

[Solo]

The Ian Watkins news has really shocked me being a lostprophets fan.

As HFS was saying seeing some of the dress or lack there of at gigs from girls these days it could be a mix up, but that is still inexcusable. The other charges though are very serious (not that the 13 year old girl one isn't). Its weird to me that someone I have posters of on my wall has had these charges made against them and it really maked me wonder who else there could be doing these things.

I will be interested to see what the court says when they are put on trial later this month. I wonder how long this has been going on, I read that the charges were made aginst him between May 1st and December 17th. He 'wasn't well' during their tour that I went to late April so it makes me wonder if the two things are related in any way.

 

[homeforsummer]

The charge which always seems odd to me is "conspiring" to do something. I think I've mentioned it before on the forum with regards to a variety of different offenses, and it always strikes me as nothing more than anecdotal - i.e. the sort of thing which could be based on a quote taken out of context. People making a 140-character comment on twitter are often accused of things like "conspiring to incite [insert offense here]".

Now obviously, if they've found indecent images on his computer then that's rather more conclusive for that particular offense, but we'll see what happens.

When I last saw them he was a bit drunk during the performance, but otherwise seemed no different than the other times I've seen them.

 

[Sphinx]

It worked like this:

• Bank B "borrows" some gold from Bank A for period of x years
• Bank B immediately sells gold for "n".
• Bank B buys "n" of high risk commodity
• [market forces occur]
• After x years, Bank B makes enough money on higher risk commodities to buy same quantity of gold.
• Bank B gives some gold back to Bank A
• Profit

This worked brilliantly if either of two things occurred. The commodity made craploads of money or the value of gold fell.

What actually happened was that market forces occurred in the wrong direction (probably investments in Japan that foundered in the late 1990s, combined with a decade high gold value) and Bank B were unable to buy back the gold - two tons of which, at the prices of the time, would have been $30m. And that's just Bank B - there were other banks in the same position because they'd done exactly the same - and the global banking system was in danger of collapse.

What they needed was not two tonnes of gold - they could neither afford to borrow nor buy it - but for the price of gold to fall. The way to do that is to flood the market with it - supply and demand. The UK at the time had the world's tenth largest gold reserve (about 3% of the world's total) and Gordon was a friend of the board of Bank Q.

Announcements of 17 auctions of gold later and the price of gold is at a 20 year low. The $30m gold was now $22m gold - the price of gold fell and the banks' investments became profitable again. The UK, meanwhile, lost $5.7bn of gold for $3.5bn - the bailout cost us $2.2bn. The same gold today is worth $24bn.


And apparently we're still bailing them out today, just a lot less secretly.

Thanks for explaining. So he really did save the world.

Very strange, and I suspect illegal if proven?

 

[Famine]

Well, he put off the end of the world banking system for a decade. And yes, it's really very suspect indeed - but I doubt illegal at the time. If someone wants to sell their stuff at the lowest price they can get, what's to stop them?

In other news DPP decides that Twitter and Facebook jokes are not indictable crimes.

 

[homeforsummer]

In other news DPP decides that Twitter and Facebook jokes are not indictable crimes.

Wait, you mean someone has applied some common sense to something?

Are they sure they went through all the usual channels?

Edit: Maybe that'll cause the apocalypse.

 

[Dennisch]

Now, to test that someone needs to post a joke online.

 

[ExigeEvan]

Now, to test that someone needs to post a joke online.

Well it's Black Friday tomorrow, so in the next 12 days there will be atleast three instances of people getting blind drunk on mass.

Chances are someone will

 

[DK]

^ Mass as in the bit where a priest says that a little cracker turns into a bit of Jesus?

Actually, being drunk would liven up Mass a bit.

 

[Sureboss]

Given that she rubber stamps our laws, I don't mind her being kept abreast of situations. You would think she supports the Conservative party, what with being central to the aristocracy and all that, but I bet she found Cameron and Osbourne really weasily and irritating.

I maintain that it's impossible not to.

Which leads me to my preferential solution, removal of the monarchy. It'll never happen, mind.

 

[axletramp]

We could bring back the guillotine, perhaps in a game show format presented by Ant & Dec.

 

[DK]

We could bring back the guillotine, perhaps in a game show format presented by Ant & Dec.

The ultimate insult.

 

[Roger the Horse]

I bet she found Cameron and Osbourne really weasily and irritating.

I maintain that it's impossible not to.

I may not agree much with his politics, but I don't find David Cameron particularly irritating, but Osbourne...

Has he never heard of the great depression and the new deal? Considering he's a historian (not an economist, note ) he should of...

 

[Moglet]

Helicopter hits crane in London:

http://m.bbc.co.uk/news/uk-england-21040410

I'm calling a straight forward accident involving bad visibility.

 

[DK]

^ I wouldn't be surprised if someone at the Daily Fail thought "ZOMG TERRORISTS!!!1!!!one"