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Coronavirus

What do you mean by shorted the pound as the government?

I get what that means as a trader (currency) but what does that mean as the government?

Taking control of the Bank of England, the timing was perfect as that awful Canadian was standing down. Putting all the money the government has and all the money the bank of england has and just basically shorting the pound, with the benefit of knowing that with a lockdown the pound would drop. A bit like when banks tried to get rid of their bad debt around 2008 and once others saw what they were doing the other banks would not touch it.

The prime minister if he had balls and sadly we have not had one with balls for a very long time. Could have saved this country a fcuk load of money, it is the sort of out of the box thinking that i like and admire. Other countries and traders could not say the government are manipulating the markets because the was a global lockdown and quarantines. It was a once in a life time opportunity with no downside as the government knew the markets would drop, they lacked the creative thinking to take advantage, i can see no other set of circumstances where this would come up it was quite literally a once in a 100 year chance to take advantage of.

I also would have only backed businesses that were British, this is not some sort of knuckle dragging patriotic thing either. Was an opportunity to see British Airways which is a Spanish company now to say you pay your staff. Then gone in and low balled IAG if they could not afford to do it and get a national carrier again. I would have done the same with any foreign owned railway franchises, and then re-nationalised them. The railways becoming public ownership is one of the reasons I was so fond of Corbyn.

Thats just me, i like to think and do things differently, people might not always agree with me but I always have a reason for doing and believing in things.
 
Taking control of the Bank of England, the timing was perfect as that awful Canadian was standing down. Putting all the money the government has and all the money the bank of england has and just basically shorting the pound, with the benefit of knowing that with a lockdown the pound would drop. A bit like when banks tried to get rid of their bad debt around 2008 and once others saw what they were doing the other banks would not touch it.

The prime minister if he had balls and sadly we have not had one with balls for a very long time. Could have saved this country a fcuk load of money, it is the sort of out of the box thinking that i like and admire. Other countries and traders could not say the government are manipulating the markets because the was a global lockdown and quarantines. It was a once in a life time opportunity with no downside as the government knew the markets would drop, they lacked the creative thinking to take advantage, i can see no other set of circumstances where this would come up it was quite literally a once in a 100 year chance to take advantage of.

I also would have only backed businesses that were British, this is not some sort of knuckle dragging patriotic thing either. Was an opportunity to see British Airways which is a Spanish company now to say you pay your staff. Then gone in and low balled IAG if they could not afford to do it and get a national carrier again. I would have done the same with any foreign owned railway franchises, and then re-nationalised them. The railways becoming public ownership is one of the reasons I was so fond of Corbyn.

Thats just me, i like to think and do things differently, people might not always agree with me but I always have a reason for doing and believing in things.

I agree with backing British businesses, or at least businesses that pay adequate tax into the British system. But shorting the pound would have an unbelievable negative affect if done by a British government (not even sure it would be possible) but a countries investability is based largely on the trustworthiness of its governance over decades... a government shorting its own currency would be catastrophic.
 
I agree with backing British businesses, or at least businesses that pay adequate tax into the British system. But shorting the pound would have an unbelievable negative affect if done by a British government (not even sure it would be possible) but a countries investability is based largely on the trustworthiness of its governance over decades... a government shorting its own currency would be catastrophic.

Nah it would have been ballsy, it is the sort of move I would have done. Because as the markets drop because of the virus you then offload. I would look at a government that did that as forward thinking and prepared to go its own way. When you then use the money made to back British business(the ones you rightly point out that pay tax) investors round the world would see a government that goes to bat for its people.

I have been watching a few reruns of Seinfeld so maybe im channeling my inner Kramer, but giddy up I like it.
 
I did and I stand by that opinion.

I’m not saying it’s like for like but surely if their is a global pandemic you are responsible for Those leaving who are your citizens as well as entering considering most people travelling outbound would be a return traveller?

The football situation is perplexing in that in the example of the football the leagues were shut so why would you allow Juve to be a vendor for tickets for fans to travel abroad to watch a game when you are not allowing them to travel domestically?? Surely you can see the weirdness there?

The return traveler point i agree with, all those traveling (especially to a hotspot) should be subject to a non voluntary 14 day quarantine.

But what Spain or Italy or Iran or anywhere else chooses to do should not be equivalent to what we choose to do. The British governments responsibility is to the British citizens. That nutter in Belarus is doing crazy brick... so I want protection from his craziness
 
Nah it would have been ballsy, it is the sort of move I would have done. Because as the markets drop because of the virus you then offload. I would look at a government that did that as forward thinking and prepared to go its own way. When you then use the money made to back British business(the ones you rightly point out that pay tax) investors round the world would see a government that goes to bat for its people.

I have been watching a few reruns of Seinfeld so maybe im channeling my inner Kramer, but giddy up I like it.

But what would have a government betting against its own currency meant for inward investment and therefore a future recovery?

I understand from a currency trader point of view infact its the correct course of action... but if a government done it... fudge me we would be in free fall.

Adding to this... more nefariously. If the government was going to short its own currency. Would it not be be beneficial for their response to a crisis to be make it more serious?
 
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Watch this -
Has the Government Failed the NHS?
https://www.bbc.co.uk/programmes/m000hr3y

OMG, this government are embarrassing!

Certainly some shocking revelations in that programme last night.

The thing that gets me is the lack of transparency - for me, too much of the government’s effort has gone into arse-covering. It was revealing to hear the little details last night; that one pair of gloves is counted as two pieces of PPE, for example, all to make it seem as if things are much better than they actually are.

It increasingly seems clear that the lockdown was too late; that the government ‘followed the science’ this time but didn’t in 2016, or last year, when full reports said that the country was seriously underprepared for a pandemic; that the PPE stocks needed were allowed to run down over the last five years and so on.

I’d have a lot more respect for them if they took the French approach, as shown by Macron last week, when he said “We got it wrong but we’re going to do everything to put it right now.” It treats the electorate like adults.

Instead we get transport graphs; crime figures; mawkish (and very carefully selected) questions about hugging granddaughters; wartime narratives; death figures which are manipulated so that they show only half the true figure; rather than any attempt to accept any responsibility whatsoever.
 
https://www.gatesnotes.com/Health/Innovation-for-COVID

Bill Gates's blog article on Covid makes for a depressing and optimistic read;

INNOVATION VS. THE CORONAVIRUS
The first modern pandemic (short read)
The scientific advances we need to defeat COVID-19.
By Bill Gates
|
April 24, 2020 5 minute read
pandemic-1_2020_short-version_article-hero_1200x564_02.ashx




This post originally appeared as an opinion piece in the Washington Post. It’s adapted from a longer article, which you can read here.

It’s entirely understandable that the national conversation has turned to a single question: “When can we get back to normal?” The shutdown has caused immeasurable pain in jobs lost, people isolated, and worsening inequity. People are ready to get going again.

Unfortunately, although we have the will, we don’t have the way—not yet. Before the United States and other countries can return to business and life as usual, we will need some innovative new tools that help us detect, treat, and prevent COVID-19.

It begins with testing. We can’t defeat an enemy if we don’t know where it is. To reopen the economy, we need to be testing enough people that we can quickly detect emerging hotspots and intervene early. We don’t want to wait until the hospitals start to fill up and more people die.


“Another test under development would work much like an at-home pregnancy test.”
Innovation can help us get the numbers up. The current coronavirus tests require that health-care workers perform nasal swabs, which means they have to change their protective gear before every test. But our foundation supported research showing that having patients do the swab themselves produces results that are just as accurate. This self-swab approach is faster and safer, since regulators should be able to approve swabbing at home or in other locations rather than having people risk additional contact.

Another diagnostic test under development would work much like an at-home pregnancy test. You would swab your nose, but instead of sending it into a processing center, you’d put it in a liquid and then pour that liquid onto a strip of paper, which would change color if the virus was present. This test may be available in a few months.

We need one other advance in testing, but it’s social, not technical: consistent standards about who can get tested. If the country doesn’t test the right people—essential workers, people who are symptomatic, and those who have been in contact with someone who tested positive—then we’re wasting a precious resource and potentially missing big reserves of the virus. Asymptomatic people who aren’t in one of those three groups should not be tested until there are enough tests for everyone else.

The second area where we need innovation is contact tracing. Once someone tests positive, public-health officials need to know who else that person might have infected.

For now, the United States can follow Germany’s example: interview everyone who tests positive and use a database to make sure someone follows up with all their contacts. This approach is far from perfect, because it relies on the infected person to report their contacts accurately and requires a lot of staff to follow up with everyone in person. But it would be an improvement over the sporadic way that contact tracing is being done across the United States now.

An even better solution would be the broad, voluntary adoption of digital tools. For example, there are apps that will help you remember where you have been; if you ever test positive, you can review the history or choose to share it with whoever comes to interview you about your contacts. And some people have proposed allowing phones to detect other phones that are near them by using Bluetooth and emitting sounds that humans can’t hear. If someone tested positive, their phone would send a message to the other phones, and their owners could get tested. If most people chose to install this kind of application, it would probably help some.

Naturally, anyone who tests positive will immediately want to know about treatment options. Yet, right now, there is no treatment for COVID-19. Hydroxychloroquine, which works by changing the way the human body reacts to a virus, has received a lot of attention. Our foundation is funding a clinical trial that will give an indication whether it works on COVID-19 by the end of May, and it appears the benefits will be modest at best.

But several more-promising candidates are on the horizon. One involves drawing blood from patients who have recovered from COVID-19, making sure it is free of the coronavirus and other infections, and giving the plasma (and the antibodies it contains) to sick people. Several major companies are working together to see whether this succeeds.

Another type of drug candidate involves identifying the antibodies that are most effective against the novel coronavirus, and then manufacturing them in a lab. If this works, it is not yet clear how many doses could be produced; it depends on how much antibody material is needed per dose. In 2021, manufacturers may be able to make as few as 100,000 treatments or many millions.

If, a year from now, people are going to big public events—such as games or concerts in a stadium—it will be because researchers have discovered an extremely effective treatment that makes everyone feel safe to go out again. Unfortunately, based on the evidence I’ve seen, they’ll likely find a good treatment, but not one that virtually guarantees you’ll recover.

That’s why we need to invest in a fourth area of innovation: making a vaccine. Every additional month that it takes to produce a vaccine is a month in which the economy cannot completely return to normal.


“An RNA vaccine essentially turns your body into its own vaccine manufacturing unit.”
The new approach I’m most excited about is known as an RNA vaccine. (The first COVID-19 vaccine to start human trials is an RNA vaccine.) Unlike a flu shot, which contains fragments of the influenza virus so your immune system can learn to attack them, an RNA vaccine gives your body the genetic code needed to produce viral fragments on its own. When the immune system sees these fragments, it learns how to attack them. An RNA vaccine essentially turns your body into its own vaccine manufacturing unit.

There are at least five other efforts that look promising. But because no one knows which approach will work, a number of them need to be funded so they can all advance at full speed simultaneously.

Even before there’s a safe, effective vaccine, governments need to work out how to distribute it. The countries that provide the funding, the countries where the trials are run, and the ones that are hardest-hit will all have a good case that they should receive priority. Ideally, there would be global agreement about who should get the vaccine first, but given how many competing interests there are, this is unlikely to happen. Whoever solves this problem equitably will have made a major breakthrough.

World War II was the defining moment of my parents’ generation. Similarly, the coronavirus pandemic—the first in a century—will define this era. But there is one big difference between a world war and a pandemic: All of humanity can work together to learn about the disease and develop the capacity to fight it. With the right tools in hand, and smart implementation, we will eventually be able to declare an end to this pandemic—and turn our attention to how to prevent and contain the next one.
 
https://www.gatesnotes.com/Health/Innovation-for-COVID

Bill Gates's blog article on Covid makes for a depressing and optimistic read;

INNOVATION VS. THE CORONAVIRUS
The first modern pandemic (short read)
The scientific advances we need to defeat COVID-19.
By Bill Gates
|
April 24, 2020 5 minute read
pandemic-1_2020_short-version_article-hero_1200x564_02.ashx




This post originally appeared as an opinion piece in the Washington Post. It’s adapted from a longer article, which you can read here.

It’s entirely understandable that the national conversation has turned to a single question: “When can we get back to normal?” The shutdown has caused immeasurable pain in jobs lost, people isolated, and worsening inequity. People are ready to get going again.

Unfortunately, although we have the will, we don’t have the way—not yet. Before the United States and other countries can return to business and life as usual, we will need some innovative new tools that help us detect, treat, and prevent COVID-19.

It begins with testing. We can’t defeat an enemy if we don’t know where it is. To reopen the economy, we need to be testing enough people that we can quickly detect emerging hotspots and intervene early. We don’t want to wait until the hospitals start to fill up and more people die.


“Another test under development would work much like an at-home pregnancy test.”
Innovation can help us get the numbers up. The current coronavirus tests require that health-care workers perform nasal swabs, which means they have to change their protective gear before every test. But our foundation supported research showing that having patients do the swab themselves produces results that are just as accurate. This self-swab approach is faster and safer, since regulators should be able to approve swabbing at home or in other locations rather than having people risk additional contact.

Another diagnostic test under development would work much like an at-home pregnancy test. You would swab your nose, but instead of sending it into a processing center, you’d put it in a liquid and then pour that liquid onto a strip of paper, which would change color if the virus was present. This test may be available in a few months.

We need one other advance in testing, but it’s social, not technical: consistent standards about who can get tested. If the country doesn’t test the right people—essential workers, people who are symptomatic, and those who have been in contact with someone who tested positive—then we’re wasting a precious resource and potentially missing big reserves of the virus. Asymptomatic people who aren’t in one of those three groups should not be tested until there are enough tests for everyone else.

The second area where we need innovation is contact tracing. Once someone tests positive, public-health officials need to know who else that person might have infected.

For now, the United States can follow Germany’s example: interview everyone who tests positive and use a database to make sure someone follows up with all their contacts. This approach is far from perfect, because it relies on the infected person to report their contacts accurately and requires a lot of staff to follow up with everyone in person. But it would be an improvement over the sporadic way that contact tracing is being done across the United States now.

An even better solution would be the broad, voluntary adoption of digital tools. For example, there are apps that will help you remember where you have been; if you ever test positive, you can review the history or choose to share it with whoever comes to interview you about your contacts. And some people have proposed allowing phones to detect other phones that are near them by using Bluetooth and emitting sounds that humans can’t hear. If someone tested positive, their phone would send a message to the other phones, and their owners could get tested. If most people chose to install this kind of application, it would probably help some.

Naturally, anyone who tests positive will immediately want to know about treatment options. Yet, right now, there is no treatment for COVID-19. Hydroxychloroquine, which works by changing the way the human body reacts to a virus, has received a lot of attention. Our foundation is funding a clinical trial that will give an indication whether it works on COVID-19 by the end of May, and it appears the benefits will be modest at best.

But several more-promising candidates are on the horizon. One involves drawing blood from patients who have recovered from COVID-19, making sure it is free of the coronavirus and other infections, and giving the plasma (and the antibodies it contains) to sick people. Several major companies are working together to see whether this succeeds.

Another type of drug candidate involves identifying the antibodies that are most effective against the novel coronavirus, and then manufacturing them in a lab. If this works, it is not yet clear how many doses could be produced; it depends on how much antibody material is needed per dose. In 2021, manufacturers may be able to make as few as 100,000 treatments or many millions.

If, a year from now, people are going to big public events—such as games or concerts in a stadium—it will be because researchers have discovered an extremely effective treatment that makes everyone feel safe to go out again. Unfortunately, based on the evidence I’ve seen, they’ll likely find a good treatment, but not one that virtually guarantees you’ll recover.

That’s why we need to invest in a fourth area of innovation: making a vaccine. Every additional month that it takes to produce a vaccine is a month in which the economy cannot completely return to normal.


“An RNA vaccine essentially turns your body into its own vaccine manufacturing unit.”
The new approach I’m most excited about is known as an RNA vaccine. (The first COVID-19 vaccine to start human trials is an RNA vaccine.) Unlike a flu shot, which contains fragments of the influenza virus so your immune system can learn to attack them, an RNA vaccine gives your body the genetic code needed to produce viral fragments on its own. When the immune system sees these fragments, it learns how to attack them. An RNA vaccine essentially turns your body into its own vaccine manufacturing unit.

There are at least five other efforts that look promising. But because no one knows which approach will work, a number of them need to be funded so they can all advance at full speed simultaneously.

Even before there’s a safe, effective vaccine, governments need to work out how to distribute it. The countries that provide the funding, the countries where the trials are run, and the ones that are hardest-hit will all have a good case that they should receive priority. Ideally, there would be global agreement about who should get the vaccine first, but given how many competing interests there are, this is unlikely to happen. Whoever solves this problem equitably will have made a major breakthrough.

World War II was the defining moment of my parents’ generation. Similarly, the coronavirus pandemic—the first in a century—will define this era. But there is one big difference between a world war and a pandemic: All of humanity can work together to learn about the disease and develop the capacity to fight it. With the right tools in hand, and smart implementation, we will eventually be able to declare an end to this pandemic—and turn our attention to how to prevent and contain the next one.
Good run through from the Gates kid.

I do think though that the RNA type vaccine will give too many people the heeby jeebies
 
The return traveler point i agree with, all those traveling (especially to a hotspot) should be subject to a non voluntary 14 day quarantine.

But what Spain or Italy or Iran or anywhere else chooses to do should not be equivalent to what we choose to do. The British governments responsibility is to the British citizens. That nutter in Belarus is doing crazy brick... so I want protection from his craziness

Surely there's a basic case of global citizenship, though?

For example, the Italians knew probably better than anybody in the world (bar China, of course) what was unfolding in early March. The Spanish weren't far behind, yet they allowed 000's of their citizens - who were under restrictions at home - to travel abroad to football matches. It isn't rocket science to suspect what would follow those actions. Even if we accept that they wouldn't physically bar their people from travelling outward, there were other ways and means to be good citizens about this - they could have exerted pressure for the games to be called off, for example. Given the circumstances, I'm pretty sure they could've made a reasonable case.

They were the (known) hotspot at that time. I don't accept that their responsibility ended at their borders.
 
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Surely there's a basic case of global citizenship, though?

For example, the Italians knew probably better than anybody in the world (bar China, of course) what was unfolding in early March. The Spanish weren't far behind, yet they allowed 000's of their citizens - who were under restrictions at home - to travel abroad to football matches. It isn't rocket science to suspect what would follow those actions. Even if we accept that they wouldn't physically bar their citizens from travelling outward, there were other ways and means to be good citizens about this - they could have exerted pressure for the games to be called off, for example.

They were the (known) hotspot at that time. I don't accept that their responsibility ended at their borders.

And that would apply to us, I don't for any reason believe you allow your population to travel abroad for known recreation if they are risking spread of the virus or contracting the virus. Its a joint effort, we can stop them coming in but others can stop them travelling at source.

China were deep in the crisis and the US got a hugely hard time for cancelling air to them, you can't have it all always.
 
The return traveler point i agree with, all those traveling (especially to a hotspot) should be subject to a non voluntary 14 day quarantine.

But what Spain or Italy or Iran or anywhere else chooses to do should not be equivalent to what we choose to do. The British governments responsibility is to the British citizens. That nutter in Belarus is doing crazy brick... so I want protection from his craziness

The point I am making is not to forgive Britain its sins this is a generic point, Italy had a responsibility to protect their own, so allowing healthy Italians to travel to France to mingle with infected italians which went against its own health guidlines at the time is just straight up ridiculous, in fact the more I think about it the more ridiculous it is.
 
Nah it would have been ballsy, it is the sort of move I would have done. Because as the markets drop because of the virus you then offload. I would look at a government that did that as forward thinking and prepared to go its own way. When you then use the money made to back British business(the ones you rightly point out that pay tax) investors round the world would see a government that goes to bat for its people.

I have been watching a few reruns of Seinfeld so maybe im channeling my inner Kramer, but giddy up I like it.

I would have backed you. The financial systems and structures in place are a completely made-up notion anyway (waits for Scara...), drop some adrenochrome, a few White Russians and lets dance.
 
The point I am making is not to forgive Britain its sins this is a generic point, Italy had a responsibility to protect their own, so allowing healthy Italians to travel to France to mingle with infected italians which went against its own health guidlines at the time is just straight up ridiculous, in fact the more I think about it the more ridiculous it is.

As with @Parklaner81 point about global citizenship I would have to agree to an extent. But it is not equivalent. by allowing events to take place our governments capability is 90% of this.
 
As with @Parklaner81 point about global citizenship I would have to agree to an extent. But it is not equivalent. by allowing events to take place our governments capability is 90% of this.

Juve went to France so I was talking in global terms not UK, this is not about defending the UK like I said this is a total point of me not understanding how Italian authorities allowed their public to travel.

Conversely allowing Napoli versus Barcelona to happen, the two worst hit countries in Europe at the end of Feb. Thats a fudge up
 
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Certainly some shocking revelations in that programme last night.

The thing that gets me is the lack of transparency - for me, too much of the government’s effort has gone into arse-covering. It was revealing to hear the little details last night; that one pair of gloves is counted as two pieces of PPE, for example, all to make it seem as if things are much better than they actually are.

It increasingly seems clear that the lockdown was too late; that the government ‘followed the science’ this time but didn’t in 2016, or last year, when full reports said that the country was seriously underprepared for a pandemic; that the PPE stocks needed were allowed to run down over the last five years and so on.

I’d have a lot more respect for them if they took the French approach, as shown by Macron last week, when he said “We got it wrong but we’re going to do everything to put it right now.” It treats the electorate like adults.

Instead we get transport graphs; crime figures; mawkish (and very carefully selected) questions about hugging granddaughters; wartime narratives; death figures which are manipulated so that they show only half the true figure; rather than any attempt to accept any responsibility whatsoever.

I did not see it I will watch this afternoon, I have seen some interesting reaction.

One POV was that the government does not order PPE it finances it and its the local authority to deal with logistics. I have no idea if that is true or not?

Additionally lack of PPE for care homes a bulk of them are privately owned for profit companies. PPE is their responsibility.

We were never actually short in the end of ventilators in the end as much as it was perilously close?

Just to be clear this is stuff thats been stated on the news this morning I have been earwigging whilst working. Not my view
 
As with @Parklaner81 point about global citizenship I would have to agree to an extent. But it is not equivalent. by allowing events to take place our governments capability is 90% of this.

Don't disagree - I've long been critical of the lack of border restrictions imposed by the UK govt during this episode.

But there's definitely a shared responsibility here. The Spanish and Italian governments had seen things that the UK hadn't at that stage. Yes, the UK government are culpable for allowing the event to go ahead, but the other nations were arguably in possession of greater information, or at the very least greater experience at that stage - they certainly don't get a pass on this.
 
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Don't disagree - I've long been critical of the lack of border restrictions imposed by the UK govt during this episode.

But there's definitely a shared responsibility here. The Spanish and Italian governments had seen things that the UK hadn't at that stage. Yes, the UK government are culpable for allowing the event to go ahead, but the other nations were arguably in possession of greater information, or at the very least greater experience at that stage - they certainly don't get a pass on this.

I just don't see how you can host Barcelona in the CL and send your fans to France during this? Irresponsible beyond belief on a global scale.
 
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