Mungo's monetary musings.

Re: Mungo's monetary musings.

Postby Fletch » Tue Jun 12, 2018 8:32 am

MungoBrush wrote:
Cannydc wrote:Seems Fletch is 100% correct - at least the Swiss find it such an important issue that they are holding a referendum on PRIVATE BANKS CREATING THEIR OWN MONEY...

https://www.youtube.com/watch?v=HwhmrC0neGw


Of course
Every single bank in the whole world that has invested in Basel II compliant systems is wrong
Only Fetch is right


I'm only the messenger, as quotes prove.

You seem to be hung up on regulation rather than the actual system of money itself. The basics of where money comes from, how and by who. That is the issue mungo, not any national or international regulation.

Without debt, there is no money supply. It's really that simple.

Fractional Reserve Banking: The reserves a mere fraction of what the bank actually lends.

Also known as leverage. See earlier illustration and comment about it for evidence. (Deutsche Bank)
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 9:19 am

Fletch wrote:
MungoBrush wrote:
Cannydc wrote:Seems Fletch is 100% correct - at least the Swiss find it such an important issue that they are holding a referendum on PRIVATE BANKS CREATING THEIR OWN MONEY...

https://www.youtube.com/watch?v=HwhmrC0neGw


Of course
Every single bank in the whole world that has invested in Basel II compliant systems is wrong
Only Fetch is right


I'm only the messenger, as quotes prove.

You seem to be hung up on regulation rather than the actual system of money itself. The basics of where money comes from, how and by who. That is the issue mungo, not any national or international regulation.

Without debt, there is no money supply. It's really that simple.

Fractional Reserve Banking: The reserves a mere fraction of what the bank actually lends.

Also known as leverage. See earlier illustration and comment about it for evidence. (Deutsche Bank)


That referendum was rejected by more that 75% of Swiss.
Keep up.

Also, did you know that Basel is actually in Switzerland? (pronounced "Baazl" by German speakers)
French speakers would more likely write it Basle, and pronounce it "Baal"
But I am reliably informed by my German banking colleagues that Basel is predominately a German speaking city so most people who live and work there would use the German pronunciation.

So, do you still believe that the Fractional Reserve System actually exists?
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Re: Mungo's monetary musings.

Postby Cannydc » Tue Jun 12, 2018 9:24 am

The fact that the referendum, held 2 days ago, was on exactly the subject that you deny even exists, shows it really does.

The Swiss know a thing or two about banking - I rather prefer their version to yours, Mungbean old chap.
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 9:25 am

Fletch wrote:
MungoBrush wrote:
Cannydc wrote:Seems Fletch is 100% correct - at least the Swiss find it such an important issue that they are holding a referendum on PRIVATE BANKS CREATING THEIR OWN MONEY...

https://www.youtube.com/watch?v=HwhmrC0neGw


Of course
Every single bank in the whole world that has invested in Basel II compliant systems is wrong
Only Fetch is right


I'm only the messenger, as quotes prove.


Oh and by the way - that Positive Economics organisation you keep quoting?
You do know that they have a extreme left wing political agenda don't you?
They have taken bits of that BoE paper and twisted it to suit their warped view of the world
Which they are entirely entitled to do of course
After all, Greece, Venezuala and even Soviet Russia had economists
But they royally screwed their own countries.

I suggest that you read the actual BoE paper
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 9:30 am

Cannydc wrote:The fact that the referendum, held 2 days ago, was on exactly the subject that you deny even exists, shows it really does.

The Swiss know a thing or two about banking - I rather prefer their version to yours, Mungbean old chap.


Quite clearly you know nothing about referendums in Switzerland
They have referendums every month.
All it takes is a few signatures from people who know nothing about banking like you and your echo chamber to get a referendum on the agenda.
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Re: Mungo's monetary musings.

Postby Cannydc » Tue Jun 12, 2018 9:51 am

MungoBrush wrote:
Cannydc wrote:The fact that the referendum, held 2 days ago, was on exactly the subject that you deny even exists, shows it really does.

The Swiss know a thing or two about banking - I rather prefer their version to yours, Mungbean old chap.


Quite clearly you know nothing about referendums in Switzerland
They have referendums every month.
All it takes is a few signatures from people who know nothing about banking like you and your echo chamber to get a referendum on the agenda.


A few signatures ?

Legislative Referendums - To challenge a law, citizens must collect 50 000 signatures within 100 days of the official publication of a new law.

Constitutional Referendums - Such votes are called when the parliament proposes a constitutional modification, or when 100,000 citizens sign in eighteen months a federal popular initiative that clearly states a proposed constitutional change.

Every month ?

An average of 3 referendums a year have taken place since the system began.

Quite clearly it's you who is the guesser when it comes to Swiss referendums. And Banking...
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 10:25 am

Cannydc wrote:
MungoBrush wrote:
Cannydc wrote:The fact that the referendum, held 2 days ago, was on exactly the subject that you deny even exists, shows it really does.

The Swiss know a thing or two about banking - I rather prefer their version to yours, Mungbean old chap.


Quite clearly you know nothing about referendums in Switzerland
They have referendums every month.
All it takes is a few signatures from people who know nothing about banking like you and your echo chamber to get a referendum on the agenda.


A few signatures ?

Legislative Referendums - To challenge a law, citizens must collect 50 000 signatures within 100 days of the official publication of a new law.

Constitutional Referendums - Such votes are called when the parliament proposes a constitutional modification, or when 100,000 citizens sign in eighteen months a federal popular initiative that clearly states a proposed constitutional change.

Every month ?

An average of 3 referendums a year have taken place since the system began.

Quite clearly it's you who is the guesser when it comes to Swiss referendums. And Banking...


Wrong again,

Last year they held referendums 3 times but on each occasion multiple referendums were voted on.
3 in February
1 in May
3 in September

So far this year they have held 2 referendums in March, and 2 in June.
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Re: Mungo's monetary musings.

Postby Cannydc » Tue Jun 12, 2018 10:35 am

MungoBrush wrote:
Cannydc wrote:
MungoBrush wrote:
Cannydc wrote:The fact that the referendum, held 2 days ago, was on exactly the subject that you deny even exists, shows it really does.

The Swiss know a thing or two about banking - I rather prefer their version to yours, Mungbean old chap.


Quite clearly you know nothing about referendums in Switzerland
They have referendums every month.
All it takes is a few signatures from people who know nothing about banking like you and your echo chamber to get a referendum on the agenda.


A few signatures ?

Legislative Referendums - To challenge a law, citizens must collect 50 000 signatures within 100 days of the official publication of a new law.

Constitutional Referendums - Such votes are called when the parliament proposes a constitutional modification, or when 100,000 citizens sign in eighteen months a federal popular initiative that clearly states a proposed constitutional change.

Every month ?

An average of 3 referendums a year have taken place since the system began.

Quite clearly it's you who is the guesser when it comes to Swiss referendums. And Banking...


Wrong again,

Last year they held referendums 3 times but on each occasion multiple referendums were voted on.
3 in February
1 in May
3 in September

So far this year they have held 2 referendums in March, and 2 in June.


Idiot.

An average of 3 referendums a year have taken place since the system began.

Began in 1848 (170 years ago)

There have been 550 Referendums.

550 / 170 = 3.23

And the "few signatures".... 100,000 ?

ps until recently my son lived and worked in Switzerland. I am quote familiar with it.
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 10:44 am

Cannydc wrote:
MungoBrush wrote:
Cannydc wrote:
MungoBrush wrote:
Cannydc wrote:The fact that the referendum, held 2 days ago, was on exactly the subject that you deny even exists, shows it really does.

The Swiss know a thing or two about banking - I rather prefer their version to yours, Mungbean old chap.


Quite clearly you know nothing about referendums in Switzerland
They have referendums every month.
All it takes is a few signatures from people who know nothing about banking like you and your echo chamber to get a referendum on the agenda.


A few signatures ?

Legislative Referendums - To challenge a law, citizens must collect 50 000 signatures within 100 days of the official publication of a new law.

Constitutional Referendums - Such votes are called when the parliament proposes a constitutional modification, or when 100,000 citizens sign in eighteen months a federal popular initiative that clearly states a proposed constitutional change.

Every month ?

An average of 3 referendums a year have taken place since the system began.

Quite clearly it's you who is the guesser when it comes to Swiss referendums. And Banking...


Wrong again,

Last year they held referendums 3 times but on each occasion multiple referendums were voted on.
3 in February
1 in May
3 in September

So far this year they have held 2 referendums in March, and 2 in June.


Idiot.

An average of 3 referendums a year have taken place since the system began.

Began in 1848 (170 years ago)

There have been 550 Referendums.

550 / 170 = 3.23

And the "few signatures".... 100,000 ?

ps until recently my son lived and worked in Switzerland. I am quote familiar with it.


7 referendums last year
4 so far this year

Looks like you're the idiot

February referendums[edit]
Three referendums were held on 12 February:[3]

One on the federal decree of 30 September 2016, to allow easier naturalisation of third generation immigrants[4]
One on the federal decree of 30 September 2016, to create a fund for national roads and urban infrastructure[5]
One on the federal law of 17 June 2016, to overhaul the corporate tax code to attract and retain international firms[6]

May referendum[edit]

Results by canton
See also: Energy in Switzerland
One referendum was held on 21 May on whether to accept the new Energy Act, establishing the Energy Strategy 2050, which seeks to phase out nuclear energy and increase renewable energy and energy efficiency.[7][8][9] The plan was opposed by the Swiss People's Party, which launched the optional referendum against it.[8] The Energy Act was approved by 58% of voters

September referendums[edit]
On 24 September referendums were held on:

A Federal Decree on Food Security[10][11]
A Federal Decree on Additional Funding for OASI Pensions[12]
A Federal Act on the 2020 Pension Reforms[13]

March referendums[edit]
Two referendums were held on 4 March. One was on a Federal Decree on the new Financial Regulation 2021, which would extend the right of the federal government to levy VAT and direct federal tax until 2035;[1] this was approved by 84% of voters. The other was the "Yes to the abolition of radio and television fees" popular initiative, which proposed abolishing the licence fee that provides the majority of funding for the Swiss Broadcasting Corporation.[1] The proposal was rejected by the Federal Assembly in 2017,[2] and by 72% of voters in the referendum.

June referendums[edit]
Main article: Swiss sovereign money referendum, 2018
Two referendums were held on 10 June; one on the Sovereign Money Initiative proposal and one on the Federal Gambling Act.[3]

The Sovereign Money Initiative proposal aims to give the Swiss National Bank a monopoly on money creation, including demand deposit.[4] It was launched by the Monetary Modernisation Association, without the support of any political party.[5] The collection of signatures began on 3 June 2014,[4] and the initiative was submitted to the Federal Chancellery on 1 December 2015 with over 110,000 valid signatures, despite its technical subject and without the support of political parties or other civil society organizations.[5] The Federal Assembly recommended rejecting the initiative.
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Re: Mungo's monetary musings.

Postby Fletch » Tue Jun 12, 2018 6:22 pm

MungoBrush wrote:
Fletch wrote:
MungoBrush wrote:
Cannydc wrote:Seems Fletch is 100% correct - at least the Swiss find it such an important issue that they are holding a referendum on PRIVATE BANKS CREATING THEIR OWN MONEY...

https://www.youtube.com/watch?v=HwhmrC0neGw


Of course
Every single bank in the whole world that has invested in Basel II compliant systems is wrong
Only Fetch is right


I'm only the messenger, as quotes prove.

You seem to be hung up on regulation rather than the actual system of money itself. The basics of where money comes from, how and by who. That is the issue mungo, not any national or international regulation.

Without debt, there is no money supply. It's really that simple.

Fractional Reserve Banking: The reserves a mere fraction of what the bank actually lends.

Also known as leverage. See earlier illustration and comment about it for evidence. (Deutsche Bank)


That referendum was rejected by more that 75% of Swiss.
Keep up.

Also, did you know that Basel is actually in Switzerland? (pronounced "Baazl" by German speakers)
French speakers would more likely write it Basle, and pronounce it "Baal"
But I am reliably informed by my German banking colleagues that Basel is predominately a German speaking city so most people who live and work there would use the German pronunciation.

So, do you still believe that the Fractional Reserve System actually exists?


I didn't mention Basel. :ooer:

i do know where it is though, Dire Straits did a concert there in 1982 on the 'On every street' tour. Excellent concert it was too. :hap:

You keep on mentioning it so must be itching to tell us what and how you put measures in place to cope with Basel 2, so please do. Did it take long, very involved? What was it you put in place and how? :smilin:
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Re: Mungo's monetary musings.

Postby Cannydc » Tue Jun 12, 2018 6:49 pm

Mungbean doesn't even understand the term 'average'.

You really believe he understands economics ??

:pmsl: :pmsl: :pmsl: :pmsl:
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 6:49 pm

Fletch wrote:
MungoBrush wrote:
Fletch wrote:
MungoBrush wrote:
Cannydc wrote:Seems Fletch is 100% correct - at least the Swiss find it such an important issue that they are holding a referendum on PRIVATE BANKS CREATING THEIR OWN MONEY...

https://www.youtube.com/watch?v=HwhmrC0neGw


Of course
Every single bank in the whole world that has invested in Basel II compliant systems is wrong
Only Fetch is right


I'm only the messenger, as quotes prove.

You seem to be hung up on regulation rather than the actual system of money itself. The basics of where money comes from, how and by who. That is the issue mungo, not any national or international regulation.

Without debt, there is no money supply. It's really that simple.

Fractional Reserve Banking: The reserves a mere fraction of what the bank actually lends.

Also known as leverage. See earlier illustration and comment about it for evidence. (Deutsche Bank)


That referendum was rejected by more that 75% of Swiss.
Keep up.

Also, did you know that Basel is actually in Switzerland? (pronounced "Baazl" by German speakers)
French speakers would more likely write it Basle, and pronounce it "Baal"
But I am reliably informed by my German banking colleagues that Basel is predominately a German speaking city so most people who live and work there would use the German pronunciation.

So, do you still believe that the Fractional Reserve System actually exists?


I didn't mention Basel. :ooer:

i do know where it is though, Dire Straits did a concert there in 1982 on the 'On every street' tour. Excellent concert it was too. :hap:

You keep on mentioning it so must be itching to tell us what and how you put measures in place to cope with Basel 2, so please do. Did it take long, very involved? What was it you put in place and how? :smilin:


I keep mentioning Basel because it re-defined that way in which banks managed risk
This led to changes in the way that Capital Adequacy reserves were calculated
And governance - which is one of the 3 pillars of Basel II

This summary from Investopedia:

"Basel II has three pillars: minimum capital, supervisor review and market discipline. Minimum capital is the technical, quantitative heart of the accord. Banks must hold capital against 8% of their assets, after adjusting their assets for risk."

I implemented Basel II processes at 2 different banks in 2 continents in 2 different governance regimes
I implemented one of the three risk strategies - Operational Risk; Liquidity risk; and Credit Risk

Operational risk is concerned with potential for operational failures - such as happened to TSB recently
Liquidity risk is the traditional "run on the bank" scenario which is what John McDonnell says he is preparing for should he ever get to No 11
Credit Risk is what I was responsible for delivering
This involved risk-weighting all of the assets - and different approaches were taken by the 2 banks.
If you are going to risk-weight each asset then you need to calculate for each the "probability of default" and the "probability of loss / given default"
The consolidated results are then used to calculate the appropriate capital adequacy requirement.

Each program took about 18 to 24 months to build and implement

It's about to be superceded by Basel III about which I know nothing more than can be found online.
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Re: Mungo's monetary musings.

Postby McAz » Tue Jun 12, 2018 6:58 pm

Cannydc wrote:Mungbean doesn't even understand the term 'average'.

You really believe he understands economics ??

:pmsl: :pmsl: :pmsl: :pmsl:


I believe he's a bloody good bullshitting troll - credit where credit's due. (How's that for a bit of economics?) :pmsl:
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Re: Mungo's monetary musings.

Postby Guest » Tue Jun 12, 2018 7:09 pm

McAz wrote:
Cannydc wrote:Mungbean doesn't even understand the term 'average'.

You really believe he understands economics ??

:pmsl: :pmsl: :pmsl: :pmsl:


I believe he's a bloody good bullshitting troll - credit where credit's due. (How's that for a bit of economics?) :pmsl:


but he hates those forunuz coming here with their clothes and cuisine etc :gigglesnshit:
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Re: Mungo's monetary musings.

Postby McAz » Tue Jun 12, 2018 7:29 pm

Guest wrote:
McAz wrote:
Cannydc wrote:Mungbean doesn't even understand the term 'average'.

You really believe he understands economics ??

:pmsl: :pmsl: :pmsl: :pmsl:


I believe he's a bloody good bullshitting troll - credit where credit's due. (How's that for a bit of economics?) :pmsl:


but he hates those forunuz coming here with their clothes and cuisine etc :gigglesnshit:

Just Semites I think - but he does live in Norfolk. :ooer:
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