Thursday, 2 April 2009

The Aftermath of the London G20 Summit

Right, so it looks like I've upset quite a few people with my opinions. That's the great thing about this place, I can say whatever the hell I like, make my voice heard - but your reactions are your own, why should I have to take responsibility about how you feel, its your own fault. I've responded to all your comments.

First things first though - what is the outcome of the infamous London G20 Summit.

OK so Im not denying the scale of the challenge which Brown, Obama and their fellow colleagues were faced with - trying to reboot a chugging world economy must be like trying to climb a mountain of stinking turd.

The outcome of the summit is to pledge an extra $1.1trn to restore growth and implement measures to stop a situation like this happening again. The only way they are going to get this going is to give global demand the erection it so badly needs right now - anybody who knows anything about the pricing of stocks must understand that this is essential. If this can be done without credit - then waaaaheeeeey! 

Truthfully though, I can make a lot more money for my investment bank when I borrow more - and at the end of the day this means a bigger bonus for me. So when lending and borrowing picks up again, Im not going to change my ways - unless the summit puts more more pressure on regulators to limit the amount I can borrow. 

So: the main point - the g20 summit needs to raise demand.

But how EXACTLY is this going to happen. I mean really? Really think about this one!

Let me help you out.... we've got to trade our way out of this. Yep, thats right - me and my fellow bankers are going to have to trade our way out of this mess. We are the solution to this because the financial sector plays such a crucial part in the global economy; basically I/the markets dictate the values of the businesses you own and work for.

So its all very well the London G20 summit saying they are going to get demand going again, but I am the solution for this.

But even then, Im telling you all this: banking is an industry run and made by bankers. None of these measures are going to change shit, unless the psychology and mentality of the city changes. That means that greed and fear need to be addressed.

Truthfully ask yourselves if this can happen?


One of the pledges from the g20 summit wasn't to send the city to a buddhist school for 10 years on the top of a remote mountain in the himalayas.

Make your own opinions, but Im not going to change the way I trade unless Im forced to. 

My colleagues feel the same.

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