The FT reckons the Tories are eyeing up a shares sale of some of some of the UKFI Ltd portfolio, this follows Myners on the weekend claiming to Adam Boulton that the taxpayer was sitting on a little nest egg investment in the banking system. Perhaps, if you ignore the financial black hole that is Northern Crock.
Don’t get too excited. Moodys has just released research suggesting we will see further losses of around £130 billion from the loan books and securities portfolios of rated UK financial institutions. The UK economy is nowhere near out of the hole yet:
Guido’s advice to Sid: buy a little gold for insurance, invest in inflation linked securities and neither the great British pound or the U.S. dollar are great places to be. Pop one of Gordon’s happy pills, we ain’t out of it yet…