Gamblers and speculators…

When Britain was forced out of the Exchange Rate mechanism, George Soros was accredited with much of the blame for doing little more than speculating against Sterling in a very successful attempt to make loadsamoney. Georges says “It’s as if you’re a jungle animal, and you see another animal facing you. You have to make a decision; fight or flight? Your hair stands up and you growl and you decide: ‘Am I going to attack because I’m stronger or am I going to run away because otherwise he’s going to eat me? And that’s the tension that gives you the backache.”
Mr Soros believes that the possibilty of a depression is quite high and the chances are that it’s going to be terminal…Well, he said that it was going to ‘last forever’…
On that note, if the G20 leaders are having an East London bash, I think that we should all have our own East End knees up – just for old times sake!

Make or Break for Britain

George Soros, the man who in 1992, made $1bn out of ‘Black Wednesday’ has said that British Prime Minister Gordon Brown might have to go begging for international aid to the tune of billions of pounds.
He stated that Britain was particularly vulnerable to the economic crisis. Mr Soros was prompted to speak out following the failure of a government bonds auction.
Soros warned that in order to avert a full-scale depression, the like not seen since the thirties, the G20 meeting of the world’s most influential people would have to take immediate action.
He said “It’s really a make or break situation.” He further stated that Gordon Brown had underestimated the severity of the problem.
As it is, the world leaders have just four and a half hours at London’s ExCel Centre to put right the world’s banking system and solve a massive problem which has global implications of massive proportions.
The 20 member nations should remember that in 1944 at Bretton Woods, an agreement on a new global financial structure took 22 days to negotiate.
Can it be achieved in a matter of a few short hours? Hardly likely!

Stop! I want to get off…

Hi everyone!

sorry I haven’t written for a bit but I got bogged down by heaps of students’ papers – you know how it is!

Anyway, things are not looking so bad this side of the pond (if you can believe that!). I even got to see Her Majesty the Queen and HRH Prince Phillip this week, when they visited Britain’s oldest manufacturer: The Bell Foundry, Whitechapel, London.

It just goes to show that some companies can more than stand the test of time – they’ve been going since the 1500’s.

Back to business:- Bank workers have been told to wear casual clothes for Thursday’s G20 summit, otherwise they may be targeted by demonstrators on the look-out for City workers.

More recently Sir Fred Goodwin’s property was damaged by protesters in Edinburgh, Scotland after he refused to give up his RBS pension of some £700,000.

It’s likely to be the start of worse vandalism to come in light of bankers’ recent failings.

British police forces have launched a £7.2m covert operation with a view to minimising any major disruptions which are likely to kick off during the G20 summit. Even the British Chancellor, Alistair Darling is fearful that any anti-bank sentiment may seriously undermine attempts by the banks to regain public confidence in the industry.

Failure by the British government to achieve another fiscal stimulus has come as something of an embarrassment to Prime Minister, Gordon Brown who was criticised in New York for pushing the United Kingdom’s current budget deficit to unprecedented heights. It’s now widely thought that Brown & company will not be in a position to raise enough funds from the markets to stabilise the UK economy… It’s going to get worse!

It’s going to get worse!

I hate to be the purveyor of doom and gloom, but according to Dominique Strauss-Khan, head of the International Monetary Fund, democracy may be threatened, unrest will come to the fore and millions will face poverty and war if the banks are not cleaned up!

Like we didn’t already know!

London is set to hold the G20 summit and the member’s should pay heed to Strauss-Khan’s prophetic message:

“You can put in as much stimulus as you want. It will just melt in the sun as snow if, at the same time, you are not able to have a smaller, but healthy financial sector at work.

Profit from soccer

In these trying financial times it still seems that we can afford to watch our favourite soccer teams and if you’re looking to make a killing out of one of the teams, then look no further than Tottenham Hotspur PLC. Spurs have just announced profits for the last six months of almost £40m.
When you consider that the new Spurs ground (set to take 2 years to build) will hold more than 60,000 fans – nearly twice the present capacity, any shares bought now will likely rise following the completion of the ground.