Griff also gets extra credit for spreading the bullshit fallacy about fractional reserve banking. I've had people going on about this today, apparently completely unable to do basic maths.

Banks are allowed to lend 90% of the cash they have on deposit, keeping 10% liquid to cover day-to-day needs (by a very healthy margin in normal conditions). Dumbfucks who believe the internet think this means that banks can lend ten times the cash they have on deposit (by creating it electronically). Whilst technically, yes, banks only have one tenth of their deposit liabilities in liquid cash at any one time, this is very different from saying that banks can create tem times their deposits as electronic money from nowhere. Only the government/BoE can do that.

Thanks to Griff, the flame of stupid continues to burn bright across the nation.

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Soppy anti-British, pro-crime, anti-education, pro-immigration, anti-family nonentity

Is it just me who couldn't give a tinkers toss about people selling the torches online. They can do what they like with them imo. Plus to dedicate a large par of the show to the question was stupid.

No it's not just you Toony. If people don't want them and other people want them enough to pay lots of money, it seems only reasonable. After all they are a bit of history and will be of interest to future generations and the people who are prepared to pay for them are more likely to look after them and preserve them.

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That subtle admixture of the absurd and the surreally plausible...

I'm much more concerned that somebody sold off our utility supplies, our railways, a huge chunk of our social housing.
Then they tried to sell our forests and are in the process of selling off our Schools and Hospitals.

Torches, rather less important.

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Mailwatch. Love us or leave us.
http://www.coalitionofresistance.org.uk/

On tomorrow.

With Alan Duncan MP (smoothie chops out gay Tory),
Stella Creasy MP (capable Labour front-ranker),
Mark Oaten (disgraced rent-boy engaging coprophiliac former Lib Dem MP),
Fraser Nelson (git from the Spectator magazine),
Victoria Coren (lusted after poker player and fiance of David Mitchell).

Looks mediocre. At least there's no Griff Fucking Rhys-Jones.

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I'm a nasty, violent lefty. You cunt.

Victoria Coren? It's gonna be a shouty one...

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Changin' avatars like there's no tomorrow

Hmm. Lefty bias again, I see...

Have gone right off Coren, after she tried to defend her abysmal brother. He's a total knob, she's too loyal to him.
Duncan I find amusing in an annoying sort of way.
Creasy is good, but tends to over-reach at the moment. Lots of potential. Hope she does well.
Oaten - do they let him out in public?
Fraser Nelson is a member of a different species, totally batshit. Can't see any good reason for him being there, nothing about him is balanced.

Oaten's indulgences with rent boys is his business and no-one else's, but it was interesting that the story came to light when he looked like winning the Liberal leadership after Charlie Kennedy resigned. He hinted at the hand of the Economic Liberals (Orange Bookers led by Clegg) in the revelation of his private arrangements. The revelations made, of course, in the News of the World...

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Where there is great doubt, there will be great awakening; small doubt, small awakening, no doubt, no awakening.

Newsnight for me, I reckon. If I'm still awake.

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Mailwatch. Love us or leave us.
http://www.coalitionofresistance.org.uk/

Can someone help me out by identifying Fraser Nelson's accent? I've heard lots of accents in my time but never heard anybody else talk like he does. My best guess is Scottish boy educated at posh English school.

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www.newshuddlines.blogspot.com

I'd place it somewhere between Stirling and Posh Embra. The latter would be somewhat more elongated on the vowels (especially the E's) although pure-Stirling would be more guttural. T he general prissiness is little more than an affectation à la Rifkind.

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Brigate di Transizione

I understand the above.
But... (I may be just another dumbfuck here), what if 90% is lent to another bank (Which keeps 9% liquid) and lends out 81%.
That bank then lends on .....

I can do the maths It's a geometric series whose result tends towards 1 / ( 1 - r (0.9) ) or 10 times.
The general idea being that there's 10 times as much money washing about as really exists.

I'd like to see the practical issues preventing this.
Market friction would have been one, until the advent of automated computer trading.
I don't know what exists now.



Reference here for the hard sums. http://mathworld.wolfram.com/GeometricSeries.html

Yep, her and Mitchel are very well suited in that regard...imagine those two having an argument, you could probably hear it from space.

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"Now get those trousers off before someone dies!"

Count me as another not enamoured at all by V Corens' alleged charms.

I've always found intelligent women very attractive.
So It's cock over conscience in my case.
Sadly each TV appearance I witness, the conscience gains strength.

Long ago I was told that Carol Vorderman was intelligent, and look how QT dashed that rumour.
(Chuckles because the spell checker wants to change it to Doberman)..