steve wright

I enjoyed talking to Jeremy McKeown on his #podcast “In The Company Of Mavericks” (@in_mavericks) out today. We covered - what it takes to get on the ballot of a #BuildingSociety as a member nominated candidate for director - what motivated me to give up a huge amount of my time to get this far - why #mutual societies matter - what might happen next You can listen to the pod on Spotify, Apple etc. or online via this link: player.captivate.fm/episode/74a393… If you’re interested in the stories behind the headlines in #FinancialServices and personal #investing topics, do check out Jeremy’s Substack “#Hypernormal Times”: jeremymckeown.substack.com

@26Left @PatrickTooher @AskNationwide @DailyMail Would be good to have james on board representing member interests.

My thanks to @PatrickTooher for including my question re @AskNationwide’s #FairerShare policy in today’s @DailyMail on Sunday: thisismoney.co.uk/money/markets/… “James Sherwin-Smith, who hopes to become Nationwide's first director representing members in over two decades, questioned why only a minority of them received payouts. 'Is there a better use or more equitable distribution of members' capital?' He asked. It’s interesting to note that: 1) following the acquisition of @VirginMoney, #Nationwide paid a one-off Big Thank You of £50 to ~12million (ie 3/4 of Members). But for the last 3 years, it has decided to share profits with 1/4 of Members instead. 2) in 2007, Members were asked to vote on whether to donate >1% of profits to #charity each year. No vote was offered re the Fairer Share. 3) less than 700k Members voted at the last #AGM. My most recent post on this topic: james4nationwide.co.uk/will-nationwid…

@Ryanblythmusic @HormuzLetter Oh no it isn’t!

@HormuzLetter This is like a pantomime. Basically letting the enemy know his every move.

BREAKING: Trump to decide within the next 24 hours on major military action against Iran, with Israel receiving the final answer in the same window, per Channel 12. A senior Israeli official said the resumption of the war is "near" and Israel is preparing for "several days to several weeks" of fighting. The US and Israel are engaged in the largest joint military preparations since the April ceasefire, with 5,000 Marines and 2,000 paratroopers from the 82nd Airborne in the region awaiting orders for a ground operation against Iran's Isfahan nuclear site to seize enriched uranium, one of the options alongside intense bombing, per NYT.

My thanks to @NilsPratley writing in @guardian for summarising the key decisions that the Board of @AskNationwide will make before voting forms are distributed to 9.1 million members next month. Read more here: theguardian.com/business/nils-… #mutual #membership #democracy

@SantaSurfing Dublin Dundee and Humberside

Dan’s post gives timestamp! 2215 Military Time Q2215

Taking a short nap after learning something new can actually help your memory.

@earthcurated The one on the left is the mango

mango or pineapple?

@KobeissiLetter Weak dollar is policy. Position accordingly

The US Dollar situation: The most interesting part about yesterday's situation is that President Trump is effectively welcoming a weaker US Dollar. Objectively speaking, the US Dollar just posted its worst year in 8 years. When asked about it for the first time, President Trump could have easily pushed back on the recent decline. In fact, he said the US Dollar is like a "yo-yo," which he could swing to either direction, acknowledging his ability to reverse its decline. If this is the case, why didn't President Trump speak in favor of strengthening the US Dollar? Because a weaker US Dollar comes with lower rates, higher US exports, a lower trade deficit, and higher nominal GDP growth. And, most importantly: higher asset prices. Yesterday's events are not a coincidence.

@DarioCpx Great work sir.

“I may be early, but I am not wrong”

@KobeissiLetter Trivial amount but if they were smart they sell before they announce.

BREAKING: Danish pension fund AkademikerPension announces they will sell all US Treasuries by month-end, citing "rising credit risk" under President Trump. The fund's CIO says US finances are no longer "sustainable," due to weak fiscal discipline, a softer Dollar, and Trump’s push for Greenland.

@yanisvaroufakis @DiEM_25 Keep up the good work - great read your book on the crisis and the behind the scenes situation

On a personal note Ten and a half years ago, as I was resigning Greece’s finance ministry, I knew I would be on the receiving end of slings and arrows sent my way by an irate European and Greek establishment. The reason? I was the only finance minister who dared say an unequivocal ‘no’ to yet another toxic eurozone bailout. Anticipating the vilification that was about to be unleashed against me, I wrote the following in my resignation letter: “I shall wear their hatred on my lapel as a badge of honour”. I have been doing so ever since. My incessant character assassination, by the mainstream Greek media, was expected – after all, to their oligarch owners, I was an unpleasant reminder of that brief moment in 2015 when they panicked, feeling they had lost their control over the demos. There was, however, something else, something far more pernicious, that I had not anticipated: the manner in which my comprehensive demonisation by the mainstream media and politicians turned me into fair game for all comers. As the abuse and the vilification aimed at me proliferated, suddenly, surreptitiously, subliminally, the impression was given to almost everyone that it is OK to take shots at me. To lie through the nose about me, without any fear of being exposed as liars. To treat me disrespectfully in my presence, without worrying that they would look uncouth. To attack me physically in public spaces, convinced that they would get away with it as the state could be counted upon not to lift its little finger to protect me. And the worst? This licence to abuse me, which was initially granted by the establishment, was subconsciously welcomed by people on the left, on society’s fringes even. Former comrades from our days in government, the authoritarian Greek communist party, good people belonging to the extra-parliamentary left, even people who appreciated me – they all felt, deep down, that I could be attacked, insulted, mistreated with impunity. And many did take advantage. Ten years later, after yet another scandalous incident earlier this evening on a Greek television channel, I felt the need to put down this experience, to commit it to the written record. Thank you for reading. Yanis Varoufakis

@BrianFeroldi Nice analogy

Investing is like planting an orchard. At the start, it's all work and zero fruit. After a few years, fruit starts to appear. After 10 years, you are reliably producing fruit. After 30 years, you're producing more fruit than your family could eat in a lifetime.

@abcampbell Fine article thanks for sharing your insights

@Defence_Index I thought it wasn’t rae earth mining but Rae earth processing that was the issue?

🇯🇵 BREAKING: Japan is set to begin deep sea extraction tests of rare earth rich mud off Minamitori Island, around 1,900 km southeast of Tokyo. This marks the world’s first attempt to continuously lift rare earth laden mud from a depth of 6,000 meters directly to a vessel, a potential game changer for global critical mineral supply.

@great_martis I don’t know how this ends but you have been on the money to date. Great work sir

Am I amazing?

@wihtwyrd @TomHCalver Trickle up economics.

@TomHCalver Doesn’t this come down to the old and the wealthy benefit whilst the young and the poor do not. When it comes down to voters the median matters more than the mean. (And I think you are using the mean?)

The average UK household has actually done quite well out of interest rate rises The big boost in savings interest has outstripped the rise in mortgage interest payments 1/3

@cooltechtipz Look at me Richie. Look at Pops.

According to scientists, this is what a Neanderthal looked like 40,000 to 130,000 years ago.

@great_martis You are on a roll sir!

Ladies and gentlemens, we have the midpoint break. Chart updates soon. But first, a coffee.

@great_martis But he might be!

😂