From the Ft.com site. http://www.ft.com/vftm . I do not own the copyright to this video. It is purely for information purposes. Any request to have it removed will be respected and adhered to.
I ponder the notion of money vanishing. I see a sum wealth consisting of all usable and valuable stuff, commodities, services, etc. The numbers reported are averages of the incalculable (perhaps) marked-to-market sales and trades in which nominal wealth is transfered. One loses and another gains. Someone paid top dollar for the rotten bag. Anyway, GoldS needed AIG bailed out or they'd lost $10B (~13$B-3B they were hedged against), perhaps underestimating the damage they could do!
@radicalsquare not entirely sure what you mean there. A lot of the $50tn was lost due to falls in asset values, so it's just dissappeared in a way. Credit default swaps have never been a huge part of the market. Many were sold by AIG, which was govt supported. But I'm not sure if the govt actually backd the CDS guarantee.
Did a chunk of this $50 trillion actually vanish (due to devaluation), or was it transfered to holders (beneficiaries?) of credit default swaps, thus tax money will eventually have to cover the loss? I'm no expert, I'm trying to understand this dynamic.
Hugh Hendry eh? just saw him on that Evan bloke's show on BBC news. The other 2 guests were just mouthing platitudes but this guy looks like he thinks for himself. God knows if he's right I don't understand this stuff but who does? Certainly not Prime mentalist Brown.
Who is this boy- I think that is his tiny boat going past behind him. I had a good year too last year and it is a lot biggere than he. His look like tender to my wifes! I thinking this boy is not knowing what he talks about. He very funny though.
Hugh is brilliant. I like his preferece for bonds over equities, but I don't agree with his choice of US dollar denominated bonds as the preferred investment vehicle. I think the best way to play bonds going forward is to buy quality emerging market bonds (such as Brazil, yielding 9.25% pa).
@nolf999
I ponder the notion of money vanishing. I see a sum wealth consisting of all usable and valuable stuff, commodities, services, etc. The numbers reported are averages of the incalculable (perhaps) marked-to-market sales and trades in which nominal wealth is transfered. One loses and another gains. Someone paid top dollar for the rotten bag. Anyway, GoldS needed AIG bailed out or they'd lost $10B (~13$B-3B they were hedged against), perhaps underestimating the damage they could do!
radicalsquare 2 months ago
@radicalsquare not entirely sure what you mean there. A lot of the $50tn was lost due to falls in asset values, so it's just dissappeared in a way. Credit default swaps have never been a huge part of the market. Many were sold by AIG, which was govt supported. But I'm not sure if the govt actually backd the CDS guarantee.
nolf999 2 months ago
Gillian Tett, your lisp is slightly annoying. I'm sorry, I love your work and writing, but damn that lisps annoying.
nolf999 2 months ago
Did a chunk of this $50 trillion actually vanish (due to devaluation), or was it transfered to holders (beneficiaries?) of credit default swaps, thus tax money will eventually have to cover the loss? I'm no expert, I'm trying to understand this dynamic.
radicalsquare 8 months ago
Hugh Hendry eh? just saw him on that Evan bloke's show on BBC news. The other 2 guests were just mouthing platitudes but this guy looks like he thinks for himself. God knows if he's right I don't understand this stuff but who does? Certainly not Prime mentalist Brown.
darkarts59 2 years ago
Who is this boy- I think that is his tiny boat going past behind him. I had a good year too last year and it is a lot biggere than he. His look like tender to my wifes! I thinking this boy is not knowing what he talks about. He very funny though.
90210mrthumper 2 years ago
Oh please. There is unprecedented inflation under progress.
How much is your grocery bill compared to a year ago?
I thought so.
qwertywxyz 2 years ago
Is this the same Hugh Hendry who said in 2005 that the Nikkei was going to 40,000?
Glad I didn't listen to that piece of advice.
lsa420 2 years ago
I don't trust these predictions.
Way too optimistic
croemar 2 years ago
Hugh is brilliant. I like his preferece for bonds over equities, but I don't agree with his choice of US dollar denominated bonds as the preferred investment vehicle. I think the best way to play bonds going forward is to buy quality emerging market bonds (such as Brazil, yielding 9.25% pa).
philzuco 2 years ago