UK banks set to go bust

Posted on July 19, 2011 by maxkeiser| 23 Comments
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23 Responses to UK banks set to go bust

  1. Titus | July 19, 2011 at 3:17 am |

    http://www.ft.com/cms/s/0/0d2a7fe4-b14e-11e0-a43e-00144feab49a.html#axzz1SVJmH7YU

    Link regarding U.K government sale of RBS and LLOYDS stake in the F.T

  2. Marc Authier | July 19, 2011 at 3:59 am |

    UK could put itself for sale the russian mafia. Oupps ! It’s already sold to the Devil. I had forgotten that it belongs to Rupert Murdoch. :) Lol

  3. SilverCondom | July 19, 2011 at 4:04 am |

    That’s good news! Maybe the Tommies will start reading more ecnomic/finance newspapers as a consequence instead of their traditional tabloids where they try to figure out the royal family underwear colors.

    god shave the queen! ;)

  4. Bruce | July 19, 2011 at 4:14 am |

    SilverCondom,
    Which paper reports on the Royals underwear colours?
    I may have to renew my subscriptions.

  5. SilverCondom | July 19, 2011 at 4:21 am |

    @ Bruce

    MYOB

    ROFL

  6. Youri Carma | July 19, 2011 at 4:26 am |

    FT.com: July 18, 2011 London banks fall on eurozone debt exposure http://www.ft.com/intl/cms/s/0/21c61ca2-b111-11e0-a43e-00144feab49a.html

    Excerpt:

    Please respect FT.com’s ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email [email protected] to buy additional rights or use this link to reference the article – http://www.ft.com/cms/s/0/21c61ca2-b111-11e0-a43e-00144feab49a.html#ixzz1SVw9IBnl

    UK banks had their worst day in more than a year on Monday as eurozone contagion fears pulled the FTSE 100 sharply lower.

    Lloyds Banking Group, and Barclays both closed at two-year lows, while Royal Bank of Scotland hit its lowest in 18 months, as stress tests results were seen as a confirmation that the European banking sector lacks capital.

    Please respect FT.com’s ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email [email protected] to buy additional rights or use this link to reference the article – http://www.ft.com/cms/s/0/21c61ca2-b111-11e0-a43e-00144feab49a.html#ixzz1SVwM3ovg

    “These banks have little room for manoeuvre in case of a greater deterioration than in the test scenarios,” said Oddo Securities.

    Sovereign debt writedowns projected by Egan-Jones ratings service would destroy over 100 per cent of equity capital for all three lenders, said US trading house Miller Tabak & Co.

    While the criteria to pass was “almost laughably benign”, the details of last week’s stress tests “exposed huge risks” for the sector, Tabak told clients. “A much weaker euro and aggressive monetary easing will be needed to prevent a fresh meltdown in the European banking sector,” it said.

    Lloyds dropped 7.5 per cent to 41¼p, RBS moved 6 per cent lower at 33p and Barclays was down 7 per cent at 207½p.

    The lenders accounted for about 30 points of the FTSE 100’s decline, with the index closing 90.85 points or 1.6 per cent weaker at 5752.81.

    —-

    Please respect FT.com’s ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email [email protected] to buy additional rights or use this link to reference the article – http://www.ft.com/cms/s/0/21c61ca2-b111-11e0-a43e-00144feab49a.html#ixzz1SVwX5VQ1

    “In Australia the consumer is under pressure from seven interest rate hikes and the first profit warnings have emerged from retailers, while new car sales are declining year on year,” analyst John Baillie said.

    “In the difficult, highly regulated, Singapore market Inchcape is the exclusive distributor of Toyota, which lost its long-held number one position to BMW in 2011 . . . We believe the forthcoming first-half results on July 28 will prompt investors to take a less sanguine view on the group’s future earnings, given the increasing headwinds in many regions.”

  7. Youri Carma | July 19, 2011 at 4:28 am |

    Sorry for the respect – unintented

  9. Youri Carma | July 19, 2011 at 4:57 am |

    Mystery Man Gives Mind-Reading Tech More Early Cash Than Facebook, Google Combined http://www.fastcompany.com/1751276/neurovigil-gets-incredibly-huge-cash-injection-to-read-your-mind

  10. Youri Carma | July 19, 2011 at 5:15 am |

    http://images.fastcompany.com/upload/iBrain3left_front.jpg Heee! … were have I seen this before? —> UFO TECHNOLOGY FROM ROSWELL 1947 http://www.youtube.com/watch?v=BFdlwXw9tX0#t=1m55s

  13. Youri Carma | July 19, 2011 at 5:47 am |

    EU bank rules offer glimpse of centralised new world

    * New EU bank regulation to signal end of national rules

    * Local supervisors to get limited discretion at best

  14. ZORRO LONDON | July 19, 2011 at 5:50 am |

    @ SILVER CONDOM

    Unfortuunately most Brits prefer to stare at tits in the tabloids and read about which footballer is screwing which politicians wife.

    They have been totally been mesmarised by their mendacious leaders.

    They still do not recognise who the real criminals are, but bow to and worship them.

    Those same leaders will be on the first planes to South America when the shit hits the fan to meet their US counterparts.

    Time fellow Brits with an ounce of sense…to get your confetti out of the banks while you can and invest in physical precious metals at whatever price!…………….Z

  15. Youri Carma | July 19, 2011 at 5:51 am |

    Centralised New World Order

  16. Youri Carma | July 19, 2011 at 5:52 am |

    @ZORRO LONDON

    Till now most world criminals flee to London.

  17. farang | July 19, 2011 at 5:59 am |

    Reading these headlines….ever feel like Donald Sutherland in “Backdraft?”

    “Let it all burn!!!” Honestly…would anyone give two figs if every TBTF went up in flames today? Financially speaking, of course.

    For all of Max and Stacy’s loyal readers: Buy silver NOW ladies.
    Don’t wait until it is $75……get it before $45…..it’s going to $85 by next summer. Unless we invade or attack Iran….then all bets are off…$150? $300….$500? Yes, F. Beard, it will.

    You see….when you are overburdened by debt…and no one is buying your bonds (except your CB, with freshly created debt-laden FRNs)…and you are the largest debtor nation in the world and debasing your currency through hyper-printing…….(more) war ain’t going to solve that problem: it will only intensify it…

    But like I said before….that’s the plan: debase the currency…”let it all burn” the official government SOP of the hour.

  18. Youri Carma | July 19, 2011 at 5:59 am |

    WTF! Portugal’s Prime Minister Pedro Passos Coelho discovers ‘colossal’ budget hole ahahahaahahahaha What a suprise aahahaah

    Portugues people are the most gullible people of the world. Most easy to shoot in the neck and leave in a ditch. Portugal had a dictatorship (and probably still has) till 1970

    A recent television contest in Portugal has kicked off an intense debate there about the country’s past. The contest asked people to vote for the ‘greatest Portuguese of all time.’ The winner, Antonio de Oliveira Salazar, surprised many. Salazar was a dictator who ruled Portugal from 1931 to 1970. The country remained poor and isolated under his rule. Freedom of expression was severly limited. Nevertheless many Portuguese pine for the Salazar days . ahahahahaaahahah

    You see what I mean.

  19. Youri Carma | July 19, 2011 at 6:01 am |

    Brazilians despise their ancestors. They refuse to talk about them I gathered from first hand.

  20. ZORRO LONDON | July 19, 2011 at 6:31 am |

    @ Youri

    Morning YC.

    London is the hub of the Illuminati.

    I remember when I was on a film job inside the the Grand Masonic Lodge years ago. (Yes they rent the place on occassions to film companies).

    The murals in the main chamber tell one everything you need to know as to who the controllers are.

    The star of David (Zionist emblem) surmounts the British Crown.

    Pity no photos to show. It didn’t click with me at the time, and I would have probably been stopped.

    Yep you are correct, this is crime central here.

    Thats why most senior politicians are lawyers. The ultimate controllers and manipulators of the Law, and the most articulate folk to deceive the sheeple.

    Safe haven to every dictator they have sponsored, and money laundering on an industrial scale.

    The UK public is fragmented as is their perception of whose to blame.

    Many I speak to, have pieces of the jig saw and are awakening, but I fear far too little to late.

    Have a good day mate and all others.

    Do what ever you think is best for you and your loved ones to stay SAFE!

    Support eachother whatever your colour and creed and bind together to throw out these bastards that have ruined our lives for so long.

    Many are closer to you than you think, and have infiltrated the top of the Police, Govt and Local Government and other key institutions.

    These rats are now running around scared, trying to screw us before they are taken down. They are sacrificing a few of their own at the moment to keep the wolves from the door.

    Best of luck to all out there.

    WE ARE THE RESISTANCE……….Z

  21. Mark Lytle | July 19, 2011 at 7:03 am |

    Credit rating agencies braced for US downgrade amid political stalemate

    http://www.guardian.co.uk/business/2011/jul/18/us-debt-downgrade-standard-and-poors

  23. Ken Rock | July 19, 2011 at 8:29 am |

    Looks like history is repeating itself Max and Stacey, this time globally. This was written by Robbie Burns when Scottish mobility sold out to make sure that the’Act of Union’ was implemented, sold the countries sovereignty for gold (at least not paper). As they finished voting on the act, the people got wind of their treason, they had to leave via the back door as the people stormed the parliament. The people rioted for a few years after in the streets of Edinburgh and other cities and towns, marshal law reigned for many years to subdue the masses.

    As the old Scottish metaphor goes “the baa’s bust” and the translation “our scoccer ball is punctured, we have no air in it, we can not play anymore, damn! Democracy is a fairy tale for kids.

    Mr Luke Kelly sings Robbie’s lyrics:
    http://www.youtube.com/watch?v=Lcm3MmD7uyc&feature=related

    Bye ye all, love and peace.