I've never taken this bloke seriously. Ever. So I was surprised to hear that you were sitting down with him for a serious chat. I'm not sure if he is on board with you but at least he was respectful of your views. Time will tell when he is back "on the circuit" I suppose.
Anyway, it was a good "lunchtime listen" and the next few years are going to be interesting, that's for sure. I'm glad I'm on the same ship as you, albeit on a lower deck, but at least I'm on it. Cheers for everything you do to make the voyage worthwhile 👍
Watched this last night ( very good ) - only thing is that I hope is that you rendered an invoice in respect of ' Services Provided ' - as Dominic surely owes you a fee and his eternal gratitude for having educated him on various factors as relate to the Metals and Financial markets which up until your conversation he clearly hadn't grasped before , or was ignorant of up until that point .
Although it was a very respectful interview on Dominic's part, I was surprised at his lack of knowledge of what money is and how the banking system works and how banks over indulge in credit expansion.
I can testify that Alasdair's description of how and why banks issue too much credit actually happens. I've seen it several times in my lifetime. The banks get euphoric about some aspect of the economy, such as real estate development or farm price booms. They jump on the bankwagon in order to participate in the boom and gain market share over more circumspect banking competitors. The most conservative banks may be dragged into the boom by their boards of directors, who see long time customers being poached by more lenient banks. They are right, of course, to be circumspect, because the boom ends with a bust. Real estate prices fall. Home building goes bust as lending dries up and loans go bad. I've seen it happen several times!!
I've never taken this bloke seriously. Ever. So I was surprised to hear that you were sitting down with him for a serious chat. I'm not sure if he is on board with you but at least he was respectful of your views. Time will tell when he is back "on the circuit" I suppose.
Anyway, it was a good "lunchtime listen" and the next few years are going to be interesting, that's for sure. I'm glad I'm on the same ship as you, albeit on a lower deck, but at least I'm on it. Cheers for everything you do to make the voyage worthwhile 👍
I like Dominic, a decent sort of chap and can be very funny.
Watched this last night ( very good ) - only thing is that I hope is that you rendered an invoice in respect of ' Services Provided ' - as Dominic surely owes you a fee and his eternal gratitude for having educated him on various factors as relate to the Metals and Financial markets which up until your conversation he clearly hadn't grasped before , or was ignorant of up until that point .
Although it was a very respectful interview on Dominic's part, I was surprised at his lack of knowledge of what money is and how the banking system works and how banks over indulge in credit expansion.
I can testify that Alasdair's description of how and why banks issue too much credit actually happens. I've seen it several times in my lifetime. The banks get euphoric about some aspect of the economy, such as real estate development or farm price booms. They jump on the bankwagon in order to participate in the boom and gain market share over more circumspect banking competitors. The most conservative banks may be dragged into the boom by their boards of directors, who see long time customers being poached by more lenient banks. They are right, of course, to be circumspect, because the boom ends with a bust. Real estate prices fall. Home building goes bust as lending dries up and loans go bad. I've seen it happen several times!!
just released..?...it is 25 days old...?
Dominic was a bit scratchy but at least he listened