It’s a funny old world

1 mins. to read
It’s a funny old world

Sheer professionalism: when the SFO cooked up charges against the Tesco 3, I thought that that would be difficult. But, then again, it’s only taxpayers’ money. And £5 million and two years later the trial collapses. What a surprise. But I really admire the sheer professionalism of the defence team in arranging a heart attack to render the SFO’s caper impossible.


Readers may remember that it is the crazily low rates of interest that renders these pension schemes insolvent since they suppose gilt purchases to supply annuities at lunatic prices. But higher rates have the curious effect of depressing portfolio valuations yet reducing liabilities at a faster rate. Wonders never cease.


I lost two shillings and sixpence with my foray into bitcoin a day or two ago – I cut the loss very quickly. But I re-entered yesterday and made three shillings. I did not, however, have the balls to stay with bitcoin, now a further $1,500 higher. That’s enough bitcoin trading for February – particularly given the startling spreads now demanded by the spreadbetters.


Bitcoin’s revival has muted the demand for gold. But as bitcoin tops out it will be time to grab some gold again. Funny old world.

Comments (3)

  • John Piper says:

    Hi Simon, open an account with Coinfloor and you can switch cash/bitcoin for minimal spreads. Works very well

  • John Atkinson says:

    The SFOs impossible caper reminds me of antics preceding the trial of Jaffray v Lloyd’s of London when three or four of the steering committee had their homes broken into, nothing of value being taken, just laptops and any material relating to the trial. Who would do such a thing? It didn’t even make the headlines. But Lloyd’s always gets away with it.

  • Paul Storrie says:

    On the subject of pension liabilities, the private member’s bill presently going through the house to allow opposite sex couples to register a civil partnership may well add considerably to the liabilities of defined-benefit pension schemes.

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