Poor Daily Mail - having to find positives in negative news

[sorenofthejnaii]

So last week it was just saying that the fall in the pound was a blip. Nothing to worry about.

Pound's gone down again. The DM is getting worried now.

FTSE going down and up and down again.

How does a paper that called the economic predictions Project Fear talk about the economic effects without saying the predictions may well have been accurate?

I get to see the US version (which is marginally less rage inducing as I'm less invested). Trump is their saviour and Hilary is the devil incarnate. It's terrifying.

I never make shit up

Well, you either "make shit up" or you have poor reading comprehension skills. Nowhere in that article does it say that Barclays gambled £100 billion on a remain win.

Bengal - So this is what you consider information?

"Shameless bankers 'gamble with Britain's economy' in bid to make money from EU referendum. “PARASITIC” bankers are shamelessly playing roulette with Britain’s economy as they gamble billions of pounds in the hope of making a quick buck out of the EU referendum."

What is it exactly that "shameless parasitic" bankers have done? Can you explain that to me?

"Hegefunds [sic] commissioned expensive private exit polls"

It's HEDGE FUND. Two words. With a "d". Do I need to point out that it is very unwise to get your "news" from people so stupid and ignorant that they so obviously know what they are writing about?

"Now traders have embarked upon an all-night feeding frenzy, placing huge bets on foreign currencies in an attempt to clean up before stock exchanges open again tomorrow."

What does that even mean? (1) When markets are closed overnight, you can't place bets, let alone have a "feeding frenzy", whatever that's supposed to mean. (2) Currency and stocks are traded in separate markets, so it makes no sense to do currency transactions to bet on the stock market.

The rest of that article is complete bullshit, as well. So they somehow learned that banks are trading currencies in Asian markets while London sleeps (so what, btw?) and then called MPs in the middle of the night to have their scathing comments? Oh yes, I believe that.

"While the London Stock Exchange was closed, traders could prepare to bet on shares going down when it reopened tomorrow – the practice known as short-selling."

That's not what short selling means! Whoever wrote that piece is a huge moron.

And this gem:

"Barclays said around £95billion is waiting to be invested by clients."

Bengal - Do you know the meaning of the word "waiting"?

Does it mean "has been gambled away"?

Barclays said around £95billion is waiting to be invested by clients.

This is presumably what bengalcat was referring to. Not Barclays money, and not (necessarily) gambling. How you get from that to "Barclays gambling £100 billion on a remain win" I have absolutely no idea.

So what if its clients money, personally I thought all Barclays money was supposed to be clients money (well until we bailed them out that was).

If it's client's money, then it's the clients who decide what to do with it: where to invest, and when.

Financial institutions do take positions on their own behalf, and at their own risk, but in this case the sum of money referred to is explictly designated as belonging to clients, not to Barclays.

And you're getting confused about the temporary suspension of trading in Barclays shares on the 24th - a suspension happens automatically when a share falls sharply in a very short space of time, and it's imposed by the stock exchange not by the company in question.

You just don't know what you are talking about.