Comment on The Way it Works by justshatered.
People discussing the money Soros made the day the UK left the ERM.
What is not widely known is the fact he borrowed £5B (yes that’s BILLION) from the Bank of England the week before. They thought he was going to use the money to support the pound, which at that ime was at the mercy of the money markets and bumping along the bottom of it’s allowed banding within the ERM system.
As the UK governments position became even more untenable Mr soros about turned and turned the lot into the German Marks.
The rest is history; the pound collapsed against the Mark, it fell through the floor of its permitted ERM banding, interest rates went to 15%, and ultimately the UK left the ERM. Soros then changed the money back handed his loan, plus interest back to the Bank of England and walked away with £1B (yes that’s BILLION) profit.
I think I read somewhere that it cost every man, woman, and child in the UK at that time something in the region of £15 each.
That is how markets work!
They prey on the weak and vulnerable or buy into the strong to make them stronger.
Now what category do you think ‘The Rangers’ fall into?
justshatered Also Commented
The Way it Works
July 30, 2014 at 7:17 pm
So just to clarify.
E17 – Rule breach with no specified punishment and, as we know from the recent past, there will be no, or negligible, action.
E18 – ditto.
E19 – They can’t register players WITHOUT THE BOARDS PERMISSION – mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.
Well lets just put a pin in that!!!
The Way it Works
The news that Ralph Topping is back looks like an attempt to even up the voting figures within the board.
This could be the precursor to the impending cash problems rumoured to be about to strike where the all powerful board make decisions “for the good of the game”.
Phil has intimated that there is a few hefty invoices outstanding and I’m convinced these will be paid come hell or high water; yes even before the players get paid. Remember the players don’t have the power to turn off electricity or refuse stock for kiosks. No they will simply have to report them to the SFA via their union. This was the same union that thoroughly endorsed their members losing 70% of their wages when RFC went into administration. Just for a minute imagine if your union rep had gone to the media trumpeting you losing 70% of your wages. You would lynch him.
Anyway back to the oncoming storm (and I don’t mean the return of Dr Who), I think the people in charge of this scandal are once again lining up the ducks. Ogilvie has been informed of the impending implosion and hence Topping is back.
The season will start and, if ‘The Rangers’ do go into Administration, then all hell will break loose. The media will demand no points deduction, the players will be blackmailed to play for virtually nothing, and the fans will be ordered to blame anyone bar where it should be. Meanwhile the SFA will be scurrying around attempting to use the ‘discretion’ card. How the SPFL will react is anyone’s guess.
I think this is when the final blackmail card will be played; either pony up for special season tickets or, and this is where it will get really dirty, RIFC will sell the club to whatever knights are in town and keep the properties, leasing them back to the club. If neither of these options are bought into then the club will shut. Simples!
The big creditor here is RIFC. The club owes them more than £16M and rising (from last accounts). RIFC own the lot and, if the club does not directly own the properties, then the club can be sold independently of the properties. The fans who bought into the IPO now have shares in a property company while the new owners have to fund a huge loss making enterprise while also paying rent. They in turn will have another share issue and fleece the gullible yet again.
This will be the final indignity for the fans; buying shares in a football club after telling everyone for two years that you could not own shares in a football club. Job done.
The Way it Works
July 19, 2014 at 7:15 am
Regarding the East End.
It has been overlooked by developers and public bodies, not for years, but for decades.
Why is it that people from one part of a city, or even a country, get jealous because money, from wherever, is spent to make somewhere a better place to live?
Ultimately it will be up to the people who live there, and public bodies, to keep the place in good condition when the Commonwealth Games bandwagon leaves town.
All neighbourhoods should be like this. It should not take an external, short term, event to get money spent locally, the money should always be there.
Unfortunately people do not want to pay higher taxes to have better living conditions for people in run down areas. The fact that many of these run down areas fuelled and created the industrial wealth of our nation to begin with and were then abandoned seems to be lost on many.
As has been pointed out earlier the Pacific Quay regeneration, where public money was spent on the Science Centre and the new BBC headquarters, has never been questioned. STV also moved to this area as well as many other businesses creating jobs where few existed. Even before that the same site was originally cleared for the Garden Festival in the 80’s. Was that ‘State Aid’ or is that one of those things that is conveniently forgotten.
Recent Comments by justshatered
To Comply or not to Comply ?
I don’t post that often now but I am still an avid follower of the site.
The story of the Trust getting a £2M loan to give to King just doesn’t ring true somehow.
First of all this is an organisation solely reliant on donations. These donations could fall of a cliff at any given time.
It has no assets so it can offer nothing as collateral.
This isn’t the late nineties or early two thousands where banks are throwing money around.
Who would put their neck on the line for this loan and what would they be responsible for if the Trust defaulted.
The interest rate under these circumstances would surely be massive meaning the long term cash stream would be diminished.
Even under the financial madness in Govan this is too far.
Is Regan a DIDDY?
Well we’ve had “not wanting to rake over old coals” now the mantra is “we must get behind the Scotland manager”.
Simple question “Why must we get behind him?”
The belief system from the media people on radio Scotland is that they are more concerned how he managed to be selected after the rebuke by O’Neil, and Walter’s refusal.
Perhaps I can enlighten them; McLeish is a tax dodger, picked by a group of people who do not wish to address McLeish’s part in a larger tax dodge which in turn cheated Scottish football for more than a decade.
He was picked by Petrie who is, as I type, being fitted for his SFA’s Presidents jacket after the current incompetent either serves his time or just dies in office!!
This is Petrie‘s prize for his leading part in the infamous five way agreement, an agreement so secret that not one copy has managed to make it into the public domain after six years. This document may be illegal for all we know. It could promise all sorts of things against the very sport itself. This is not, and never will be, acceptable!
The great irony of this is that it is the Scottish footballing public, the very people defrauded by McLeish in the first instance, who will pay his demand for back taxes. What’s the old saying “fool me once ……………..”.
Perhaps when one of the media guys starts spouting the “we need transparency of the process as to how McLeish was selected” we should simply tell them to “move on” and not “rake over old coals”. This is the problem when media people start accepting things given to them without questioning, you end up either unable to think of a difficult question, or you cannot find the testicular fortitude to ask a question.
The media, who have never paid to attend a match, are so ready to accept ten years of cheating on behalf of the paying public, then they should not be surprised when they are treated with the same disdain as the paying public.
The SFA is a corrupt, self-serving, incompetent, small minded, petty minded, and dismissive of the people who pay their wages.
Time for change?
It’s long overdue!!!
Is Regan a DIDDY?
I’ve just listened to an interesting conversation on Radio Scotland regarding the resignation of Regan and my goodness what a lot of nonsense Tom English talks.
“Too much mistrust and self interest in Scottish football”
Well perhaps Tom, if we had a media that dared to ask the hard questions of the SFA, understood finance law, understood the insolvency laws, and held those in power to account then perhaps the above may change. However, what we the paying public are lumbered with is a useless set of people, barely able to hit the correct keys to construct a sentence, who themselves survive in a swamp of self interest who refuse to report the law of the land and ignore the biggest sporting scandal in British sporting history.
Another reason there may be so much mistrust and self interest in Scottish football is because the people who are the life blood of the game are treated with complete contempt by the owners/operators of their clubs and the footballing authorities themselves. As soon as the fans started asking detailed questions of Reagan he shut down his twitter account because he couldn’t handle that questioning. That in itself should have been a media story but alas you would need a real journalist to drive that forward.
“The Chief Executive MUST be hired before the national team manager” because the “Chief Exec stands or falls by the appointment”
Does he then believe that if the national manager is sacked then it must be the case that the Chief Executive must also follow him out the door because he is the guy that hired him.
Well if that is the case why didn’t he go along with Craig Levin or if that truly is the case then neither would ever go until the fans are at the doors of Hampden with fiery torches and pitch forks!!
Just when I thought sanity may break out on comes Henry McLeish who expounds his wisdom;
“The SFA needs more power. It needs to take it back from the SPFL”
This is the organisation who refused a request from the SPFL into an investigation of how the SFA operated in 2011/2012?
The same organisation who, without speaking to any senior clubs, decided to organise a tour of South and Central America THREE weeks before our top four clubs will be participating in Champions League and Europa League qualification ties.
Henry, the SFA already hold more power than is good enough for them; a more shapeless, shiftless, cunning, blazer wearing, rule bending, will sapping, coma inducing, spineless group of individuals ever encountered by any customers in the history of sport.
Time to Ditch the Geek Show
This may have been a question asked before so I apologize in advance.
When Rangers entered Administration the TAX man made a claim as far as I’m aware for all of the National Insurance and Income Tax that Whyte had collected but never forwarded.I still find tn difficult to comprehend how this isn’t illegal but there I am, a simple guy.
The Tax man also had the ongoing claim against the money paid to the EBT wheeze and submitted another claim for the Tax and National Insurance contribution that should have been paid on those payments.
Given that HMRC won their case, and the Liquidators will adjust the pennies in the pound accordingly, how can HMRC continue to after the recipients of the EBT payments?
While I have no sympathy for the individuals this seems, again to this simple guy, that HMRC will be getting paid twice; once through the Liquidators pennies in the pound and then billing the individuals.
As for Dave King’s counsel today……………………………….. well who would have thought that a guy who attempted to hide cars, planes, bank accounts, property, and wine from the South African authorities would turn round and claim to be penniless!!
Not me honest.
Another question regarding this: If Dave King sells up and walks away would this ruling apply to the rest of the concert party?
If it does not then this looks like a great sting by the rest of the concert party to have King as the fall guy. Remember there was the rumor that King borrowed the money from someone to buy the shares. It might have even been from someone who will gain if King goes.
The Vice Closes
The SFA have attempted a deal tonight.
To buy off Celtic and the rest of Scottish football with another weak, ineffectual, in-house, whitewash of an investigation into why there in-house, dyed in the wool, Real and pretendy Rangers men passed RFC as fit for a UEFA licence in 2011.
They have done this in an attempt to prevent a full out enquiry into their handling of the Administration, Liquidation, and unlikely resurrection of RFC to ‘The Rangers’.
Unfortunately for them far too much is now out in the public domain.
Anybody who wishes to look at the evidence knows what a craven, cowardly, corrupt, set of so called administrators we have a Hampden. They knew well before RFC went into Administration that it was coming.
The real problem they have is, like the Watergate affair, the original crime was not the thing that eventually brought down the house of cards.
It was the attempted cover up that did that.
The SFA may attempt to purge their in-house email servers but most are backed up elsewhere. The paper trail will most likely lead to some very uncomfortable places and people.
Paperwork, that the SFA are so pernickety about at various times but incredibly lax at others will be their undoing in the end.
Of course as much as the media will attempt to play this as an ‘Old Firm’ issue what the SFA have done tonight is actually ignore the wishes of the SPFL board. That will also be their undoing. For all they talk about the SFA being the clubs tonight they have told everyone that the SFA is a bunch of despots, up to their necks in scandal, desperately attempting to cover their backs.