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.