The idea that central banks can control oil prices is amusing!
Doly wrote:The idea that central banks can control oil prices is amusing!
I got it from somebody who was giving a talk at an event organised by the Financial Times. I don't think they invite people that they don't think are knowledgeable on finance issues.
I agree with VT, central banks are full of economists, and work around them along enough and you realize they do the same thing the engineers you describe do. Everything is dependent upon X. "X" of course being whatever they were trained in.
The world needs more polymaths, and fewer folks wielding a hammer, and using it regardless of whether or not it is to a nail.
Doly wrote:I never said that central banks were correct. I just said they probably have the power to target stable oil prices. That doesn't mean it would be a good idea to do so.
Doly wrote:The world needs more polymaths, and fewer folks wielding a hammer, and using it regardless of whether or not it is to a nail.
You don't seem to like me much, and I happen to be one of those polymaths.
Doly wrote:
And also, there are some mathematical ideas that are rather powerful and can be used in a lot of different situations.
theluckycountry wrote:Well the seven sisters controlled oil prices via their cartel for long enough.
Though who is buying it and why is the mystery?
Doly wrote:For me who is buying bitcoin and why has always been a mystery.
vtsnowedin wrote:What gets me is the number of banks , hedge funds and institutions including retirement funds that bought into one crypto currency
Can any of these say they met their fiduciary requirements while betting their clients money?
theluckycountry wrote:vtsnowedin wrote:What gets me is the number of banks , hedge funds and institutions including retirement funds that bought into one crypto currency
Can any of these say they met their fiduciary requirements while betting their clients money?
Well it's not like they care, the Pig men up top in all these institutions only care about their own futures, not ours, they will commit the money to anything that is 'recommended' to them. The GFC proved to them that they will suffer no consequences for maleficence or simple stupidity, they walk, and with pockets full.
I have none of my life savings with these dogs aside from deposits in four banks ,which I can, and will, transfer into hard assets as soon as I perceive the wheels are falling off. Banking collapses don't happen overnight but market crashes do and the rules with pension funds, here at least, make it impossible to move your money fast. Here it takes two weeks minimum for any re-allocation to be processed.
Anyone with half a brain would be out of the markets now, we've had the big gains and now it's time for the big losses. So why do most people stay in? They don't want to pay the taxes on their gains. It's a trap by design.
Doly wrote:He didn't seem to be putting much, if any, critical thinking into it.
vtsnowedin wrote:What gets me is the number of banks , hedge funds and institutions including retirement funds that bought into one crypto currency or an other for fear of missing out. Especially the ones that used borrowed or leveraged money to do it. Can any of these say they met their fiduciary requirements while betting their clients money?
vtsnowedin wrote:With a two week transfer time frame can you afford to wait to secure your hard assets?
theluckycountry wrote:My nephew asked me why I thought Aussie bonds were safe but not the banks and I explained to him the bonds are Aussie government debt and to default on that the Australian government would have to declare bankrupt. Not likely given our position as one of the best economies in the world.
AdamB wrote:theluckycountry wrote:My nephew asked me why I thought Aussie bonds were safe but not the banks and I explained to him the bonds are Aussie government debt and to default on that the Australian government would have to declare bankrupt. Not likely given our position as one of the best economies in the world.
As long as "best" equals 13th largest behind other pipsqueaks like Canada and South Korea. And Italy and Russia. I mean really, like maybe 6% of the size of the US economy? BRAZIL is bigger than you Chinese mining slaves. Germany, Japan and India. And properly, your GDP should just be assigned to the UK, seriously when are you folks going to grow a pair and dump the Monarchy? Let me guess, your wonderful government took your guns away, or your insignificance in the world makes you a bunch of cowards when the Queen shows up requiring someone to kiss the ring while bending the knee? Are you first in line for that duty Lucky?
vtsnowedin wrote:Best and biggest are two very different things.
vtsnowedin wrote: When you get it down to GDP per person OZ ranks 21 out of 198. Not bad, and then consider that some of those ranked above them get there by large oil revenues that are in the hands of a few and do not trickle down to the average citizen.
vtsnowedin wrote: A young person in Australia looking at other counties that have better opportunities for his or her advancement is looking at a very short list.
AdamB wrote:vtsnowedin wrote: A young person in Australia looking at other counties that have better opportunities for his or her advancement is looking at a very short list.
Sure. All little league players look up and hope to be MLB players one day. They can't build their own CARS Vt. Cars! You and I could probably do that, give us enough to fire up a factory and we could get it done. Banana benders can't.
vtsnowedin wrote:AdamB wrote:vtsnowedin wrote: A young person in Australia looking at other counties that have better opportunities for his or her advancement is looking at a very short list.
Sure. All little league players look up and hope to be MLB players one day. They can't build their own CARS Vt. Cars! You and I could probably do that, give us enough to fire up a factory and we could get it done. Banana benders can't.
OK so can you give us an example of a country an Australian young person with say a BS in engineering, or some other professional field, could immigrate to where they would be better off then just staying in OZ and working there.
vtsnowedin wrote:Keep in mind the the other countries immigration laws and language barriers do matter. If they won't let you in or you can't speak the required language a heaven on earth is of no use to you.
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