Mungo's monetary musings.

Re: Mungo's monetary musings.

Postby Fletch » Tue Jun 12, 2018 6:35 pm

MungoBrush wrote:
Fletch wrote: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It's about to be superceded by Basel III about which I know nothing more than can be found online.


So you had nothing to do with the actual regulation side of Basel, just a part in deploying an IT system, or part of a system, for it.

I need to mention again that this is nothing to do with regulation, that existed before Basel and will continue after. This is about the system of money. Where does it come from how and by who. You seem to keep ignoring that core issue.
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Re: Mungo's monetary musings.

Postby Cannydc » Tue Jun 12, 2018 6:36 pm

McAz wrote:
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:


Shit, does he ?

I'm off then :yikes:
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Re: Mungo's monetary musings.

Postby McAz » Tue Jun 12, 2018 6:40 pm

Cannydc wrote:
McAz wrote:
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:


Shit, does he ?

I'm off then :yikes:

I thought would shake you. :laughing:
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Re: Mungo's monetary musings.

Postby McAz » Tue Jun 12, 2018 7:41 pm

McAz wrote:I thought that would shake you. :laughing:


My word blindness is getting worse. :shake head:
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Re: Mungo's monetary musings.

Postby Gigabit » Tue Jun 12, 2018 8:31 pm

Mungo is so far into that hole he must have found his way to Australia by now
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Re: Mungo's monetary musings.

Postby MungoBrush » Tue Jun 12, 2018 9:42 pm

Gigabit wrote:Mungo is so far into that hole he must have found his way to Australia by now


I can understand your confusion

Why would such a highly educated, professional, intelligent, and experienced person want to spend his/her time trying to educate a whole bunch of angry illiterate low-life scumbags like us

Well, I have my reasons, but you will never know.
So you can keep on speculating if that interests you
I'll be moving on to another thread I think.
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Re: Mungo's monetary musings.

Postby Gigabit » Tue Jun 12, 2018 10:15 pm

Run away Mungo, you're so pathetically predictable.
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Re: Mungo's monetary musings.

Postby calitom » Tue Jun 12, 2018 10:49 pm

Rolluplostinspace wrote:You make yourself look more stupid with each post.
We live with a monetary system that is debt based.
Every pound is borrowed into existence.
It didn't exist till you signed for it.
We live in a debt based monetary system.
Our money is created as units of debt not units of value.
No debt equals no money.
The money is created out of thin air.
We used to have these very same arguments with Maddog but he retired from the discussions presumably having done a little research.

Remember Germany 1930's where a loaf cost a truck load of money?
Germany could not buy wheat steel oil anything from the rest of the world because Germanies money had become worthless.
Yet suddenly overnight Hitler created the biggest most modern military the world had ever seen at that time.
Massive air and naval power the first motorways car production with the intentions of every German family having a car.
Hitler went on to appear on the cover of Time Magazine twice for his economic miracle.
What was this miracle?
He kicked Rothschild banking out of the country and created his countries currency interest/debt free.


Jack what you say is true....altho by the mid to late 20s the germans were taking several brilliant steps to free themselves from the rothchild weasels..
including dumping the worthless old marks and replacing them with the new mark which wasnt under the stranglehold of the banks.
The krauts were clever enterprising people and still are today.

germany got screwed over after and before ww1 no doubt. thankfully the USA knew better than to punish the germans after ww2.
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Re: Mungo's monetary musings.

Postby Cannydc » Tue Jun 12, 2018 11:19 pm

On January 14th 1946, in Paris, two forms of reparation were set up for the allies, in forms of shares: all reparations including funds, and those in the form of 'industrial and other capital equipment'. The U.K., U.S., France and Yugoslavia were the biggest shareholders.

According to Pablo De Grieff, author of "The Handbook of Reparations", by September 30th 1965, Germany had paid $4.5 billion, which rose to a total of more than $38.6 billion by 2000.

Note, US was one of the 'shareholders' paid war reparations by Germany...

https://www.cnbc.com/2015/03/18/who-sti ... -wars.html
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Re: Mungo's monetary musings.

Postby Fletch » Wed Jun 13, 2018 6:21 am

MungoBrush wrote:
Gigabit wrote:Mungo is so far into that hole he must have found his way to Australia by now


I can understand your confusion

Why would such a highly educated, professional, intelligent, and experienced person want to spend his/her time trying to educate a whole bunch of angry illiterate low-life scumbags like us

Well, I have my reasons, but you will never know.
So you can keep on speculating if that interests you
I'll be moving on to another thread I think.


Before you abandon this thread mungo, what exactly did the IT programme you had a part in 'putting in place' do?

What was your part in it relating directly to regulation and risk management?

Forgive me but I'm struggling to see the link between understanding the latest attempts at bank regulation and writing/implementing an IT programme. :scratch:
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Re: Mungo's monetary musings.

Postby Gigabit » Wed Jun 13, 2018 6:05 pm

Mungo hasn't done anything, he lies about everything.
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Re: Mungo's monetary musings.

Postby McAz » Wed Jun 13, 2018 6:06 pm

Gigabit wrote:Mungo hasn't done anything, he lies about everything.

We've guessed that already. :wink:
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Re: Mungo's monetary musings.

Postby Guest » Wed Jun 13, 2018 6:40 pm

McAz wrote:
Gigabit wrote:Mungo hasn't done anything, he lies about everything.

We've guessed that already. :wink:


a long time ago
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Re: Mungo's monetary musings.

Postby Fletch » Wed Mar 27, 2019 5:59 pm

MungoBrush wrote:
Fletch wrote:
:pmsl:

Still no answer then mungo.

(and read the spoiler)

How does a Pound/Euro/Dollar come in to existence mungo?

Who by and how?


You still not getting it Fletch?
I will try to help you just one last time

Now, think about how a kilowatt of electricty comes into existence.
It could be generated by a biomass farm, or a gas fuelled generator, or an off-shore wind farm or solar panels etc etc
Each one is a separate creation process
But to the ignorant person - ie you - when you switch the light on - bingo there is light - and you have no idea where those kilowatts you are consuming have come from
Some of it may have been manufactured by a government organisation - some by the private sector.

It's the same with money.
As I have already told you - there are many types of money - and each type is manufactured differently
But to you - it all looks the same
That's why you keep on posting your stupid little "gotya's" thinking you are tripping people up
But all it shows is how ignorant you are

All you need to know, Fletch is that the total sum of all money in the economy is called the "Money Supply"
And it's controlled by the sovereign bank - in a similar way to the way that the supply of electricity is controlled.
And I have already posted links to government sites to help you understand
But its obvious that you have no intention of reading them - or if you did - maybe it all went straight over your head

Anyhow, it's all way beyond your understanding Fletch, so I'd leave it to the experts if I were you and stop worrying your little brain about it.


Tell us about all the different types of money mungo and who "manufacturers" them? (and how)

(bumped for mungo to explain without derailing vaccine thread)
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Re: Mungo's monetary musings.

Postby Fletch » Wed Mar 27, 2019 6:01 pm

Cactus Jack wrote:Why the four and half is Fletch retreading all those worn out, and entirely inaccurate, ramblings on money when this thread is supposed to be about vaccines?


The floor is all yours CJ. :smilin:

How does a Pound/Euro/Dollar come in to existence?

By who and how?
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