O/T bbc bias apology

[gm_gm]

No, gm, it doesn't work like that. You put out a barrage of waffle that has no relevance to the point I was making.

I said that if we don't get a deal that includes passporting it will massively impact the ability of many companies to provide financial services that they currently provide without barriers.

Your argument hasn't been to disprove that statement, its been to say you know loads about a bunch of irrelevant acronyms and therefore you know best and win the argument. Except you haven't said a single thing that disproves my statement.


For the record, I have no doubt you know loads about Basel and could go down into the details. The fact you think at your age you spend your life reading tedious 900 page documents for work means you "win" is interesting. You say I know nothing about financial affairs, but I don't need to try and boast about my circumstances to win an argument. I too get asked for advice and I get approached with lots of business opportunities and I am in the position to choose what I want to do with my life. I answer to nobody.

Reading 900 page documents is a depressing vision for my future. If you want that victory you can have it. I'll stick to the skiing and winning the actual argument at hand.

So, I'll lay the gauntlet... how am I wrong in my 'headline' assessment of the impact of losing passporting? I'm not going to read it, so spell it out - what hidden gem is hidden in the 900 pages of Basel that will provide a "gotcha" that disproves my concerns?

Ok John, you have the hook baited again.

Passporting allows financial transactions to proceed on the basis that a company can trade without needing further "authorisation" bearing in mind we have parity in almost all areas why would we need it?

Secondly, your lopsided statement from one the "pedias" was that the UK would / may lose 10,000 you never balanced this with the effect in the EU, how many EU jobs would go if we lost 10,000? my estimate would be more than thrice that. Explain the magic wand theory that the day after Barniers dummy goes out of the pram and he removes passporting that these transactions will migrate 7 Million trades effortlessly somewhere else.

Recently most UK capitals banned shorting and a few other trading exemptions, the UK didnt and over 80 countries prefer London due to the fact that we are largely non-interventionist.

The passporting is only a side show, if Karlsruhe prevails its a dead duck, imagine 3 UK banks borrowing money at different base rates.

[gm_gm]

Also, John Basel3 is directly linked to passporting, as it covers (not exclusively) Capital adequacy for bank and other financial institutions, credit and risk based assessment when lending, supervision and responsibility, testing requirements (many banks did this pre-covid and were in good shape)....if you havent implemented Basel3 you aint getting a passport!

[Exiletyke]

Just get a room

[John2]

Passporting allows financial transactions to proceed on the basis that a company can trade without needing further "authorisation" bearing in mind we have parity in almost all areas why would we need it?

Secondly, your lopsided statement from one the "pedias" was that the UK would / may lose 10,000 you never balanced this with the effect in the EU, how many EU jobs would go if we lost 10,000? my estimate would be more than thrice that. Explain the magic wand theory that the day after Barniers dummy goes out of the pram and he removes passporting that these transactions will migrate 7 Million trades effortlessly somewhere else.

What are you saying?

That if there is no deal and no passporting any more things will magically just continue as before?

I'm not arguing the UK crashing out without a deal would be good for the EU either. I'm also not arguing it wouldn't create other opportunities. You've plucked a figure out of fresh air, but how does that save jobs (and revenues) in the UK? If you're arguing that we'll come to a deal because its in all our interests you may well be right, but that isn't the current default position.

What's going on here is tedious irrelevant side arguing.

Its like if I said "if TV rights money can't be renegotiated the Premier League would be in trouble"

And then you piping up "I'm an expert in TV rights contracts, I've read every single contract, 9 million pages, I bet you didn't know that in Mozambique its illegal to stream PL games on a Tuesday at 8pm. You would if you'd read the MOZAMPL contract."

Then I go "there's no such thing as the MOZAMPL"

and then you go "yes there is, you fell into my trap"

and then I go "no I didn't, do you mean the PLBIQUE 2018?"

and then you go "yes, and I've read it all and that means you don't know anything about football, you don't even understand the offside rule. Aha, gotcha!".

Its just ridiculous. You completely fail to address the problem I am raising. Good on you for keeping on trying though, but I'm about done wasting my time on this one.

[Exiletyke]

Get a room ffs

[John2]

Explain the magic wand theory that the day after Barniers dummy goes out of the pram and he removes passporting that these transactions will migrate 7 Million trades effortlessly somewhere else.

I mean this is just ridiculous. Its like you're suggesting it will only become clear on 31 December that there won't be a deal on 1 January. It will likely be established months in advance that there will not be a deal (or that is a likely outcome), and contingency planning will be implemented. Businesses have already been moving some operations into EU, and much of it will transition smoothly, but there are thousands of businesses who will not be that prepared and that is where the impact will hit hardest.

[Grist_To_The_Mill]

My God this is tedious

Regurgitating other folks stuff isn't a sign of understanding.

Just a desperate punt at trying to appear clever.

Epic fail

[John2]

You saw this one then You're right about the tedium.

At least gm was brave enough to attempt to save some face after he tripped himself up, I give him a lot more kudos for that than you!

Still waiting for that reply....

[gm_gm]

You saw this one then You're right about the tedium.

At least gm was brave enough to attempt to save some face after he tripped himself up, I give him a lot more kudos for that than you!

Still waiting for that reply....

John, I trapped you good and proper, you couldn't have known about the ECD and if you had pretended too I knew you would be being untruthful

PS...it would take a good 3 years to migrate the 7 million financial transactions, plus all the other O/S lease requirements on London property (which had a growth in floor space take up after the election result)

[John2]

John, I trapped you good and proper, you couldn't have known about the ECD and if you had pretended too I knew you would be being untruthful

PS...it would take a good 3 years to migrate the 7 million financial transactions, plus all the other O/S lease requirements on London property (which had a growth in floor space take up after the election result)

lol. The cognitive dissonance is astonishing.

This is you right now