Economy & Banks

At the weekend I was in a train station (clapham junction) and I found some money on the floor.. Hippy wasn't around so I didn't know what to do.
I just put it in my pocket and bolted.

I'm not sure exactly how wealthy a man I am now.

Can anyone workout the exchange from 4000 Ghanian credi to bitcoin at todays price?

new track bike coming up!

let me ask my nigerian general friend, we've become fast friends over the internet in the last week or two
he's about to send me 12,500 nigerian doodahs now that he has my bank details

xe.com is your Nigerian friend..

doodahs surely ?

A simple starting point would be something like coffee shops - no coffee shop needs to be part of a chain, therefore all should be stand-alone, therefore international tax-avoision (my new word for the shit companies do that is on the borders of avoidance and evasion) would be impossible.

edit - see Distributism / distributionism

Distributism has often been described in opposition to both socialism and capitalism,[7][8] which distributists see as equally flawed and exploitative.[9] Thomas Storck argues that "both socialism and capitalism are products of the European Enlightenment and are thus modernizing and anti-traditional forces. Further, some distributists argue states that socialism is the logical conclusion of capitalism as capitalism's concentrated powers eventually capture the state, turning it into socialism.[10][11] In contrast, distributism seeks to subordinate economic activity to human life as a whole, to our spiritual life, our intellectual life, our family life".[12]

Whats the difference between distributism and mutualism?

Great roundup of Bilderberg 2014.
http://www.theguardian.com/world/2014/jun/03/bilderberg-2014-roundup-privacy-transparency-and-birkin-bags

'On this occasion, Goldman Sachs will feast first.'

http://www.theguardian.com/business/2014/jun/11/currency-market-rigging-criminal-offence

wow you need an oxbridge education to work that one out
well done

It's not already? Fuck's sake.

ISDA trigger CDS's on the Argentinian bond default
stories of both CIti Emerging Markets Desk and JPM are on the hook in a large way

Don't at least one of the funds that owns holdout debt sit on the determination committee?

Don't at least one of the funds that owns holdout debt sit on the determination committee?

Elliott Management is.

I'm guessing that plenty of the committee are long Argentine CDS.

So reassuring to know that this sort of thing is regulated independently...

Mind you, any rates desk that decided to be long argentinian credit risk deserves to take the P/L hit.

Call it an idiot surcharge

http://online.wsj.com/articles/bank-of-america-near-16-billion-to-17-billion-settlement-1407355290

seems like the banks are finding ways to pay back the respective governments for their bailouts during the credit crunch

banks rips of sheeple take their money and hand it to the government
a stealth tax ? tax by the back door ?

@dicki Well - given of the USD 17 billion, USD 9 billion is for the government in its various forms and the remainder is being used to reduce mortgage debt directly, a bit of stealth tax and a bit of a genuine kick between the legs as the relief to BoA's customers is going to damage BoA's NII etc.

You raise a fair point though - the problem with any sort of regulatory enforcement on a private company is the shareholders want the loss made up which means higher prices for the company's clients.

In an ideal world the market would be frictionless and the client would just go elsewhere but that is just not the case in finance and in particular mortgages.

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have we some forum access details?!

like The Times, without motivation to sign up to it..

.. oh here's the story outside of a signup-wall,

BANK OF AMERICA AGREES TO NEARLY $17B SETTLEMENT

anything the other side of the ocean seems so distant to me..

.. closer to home, via another of Dicki's links, saw this for the first time,

Bank of England governor: capitalism doomed if ethics vanish
Mark Carney issues strong critique of City behaviour and warns of growing sense that basic social contract is breaking down

the bank of america settlement does seem a little bit different in that they are using some of the money to assist mortgage holders in negative equity and those sold incorrect mortgages, according to radio 4 this evening

maybe because it was mbs's / mortgages that were underlying the wrong doing reparations are being made

currency fixing and interest rate fixing is less likely to have an effect on an individual

Raising the minimum wage causes an increase in inflation. Discuss...

If you're looking for some material to rip off for your thesis, I'd go elsewhere.

to answer your question; might do, might not.

Lol, I wish. Hanging out with the living wage crew on the Southbank on Saturday and fancy playing devil's advocate with them.

The increased purchasing power of those people is probably not lager enough to cause a movement.

you're talking about a shift in the demand curve, not a move along it.

let's say that a rise in the min wage means more people have more money.

in an oversimplified world where there's no debt and no propensity to save, that leads to more demand for goods and services.

Assuming ceteris paribus, then this:

I suppose it wouldn't affect demand for all goods and services equally? There are some that are bought more by people who work at minimum wage. Possibly.

Past that, I suppose it depends on the ability of employers of minimum wage employees to pass that cost on.

That's a demand pull curve.

Wage increase would be a cost push curve.

Wait, is that a curve where demand decreases and prices increase? How does that work?