On Fri, 4 May 2012 07:25:43 -0700 (PDT), 77002 wrote
in misc.transport.urban-transit:

On May 4, 3:17*pm, wrote:
On Fri, 4 May 2012 06:26:17 -0700 (PDT)

77002 wrote:
For investment banking 3 is negligable, 2 is probably a lot less than it =
could
be and 1 , while useful , is hardly the pivot on which the whole economy =
turns.
The usefulness of The City in this country is vastly overstated.

So there is now a way to import oil purchased with pounds sterling?

Wtf has that got to do with investment banking other than them buying oil
as a hedge? They don't control the currency markets, they play them.

Without a lot of those parasite speculators the price of oil could be
significantly lower. There has been many a time when literally tanker loads of
oil have been sitting off the coast waiting for the price to go up so it can
be sold at a large profit.

The point is that the UK needs foreign currency reserves. That means
exports. The UK's best performing exports are financial services.

Frankfort, Singapore, or Hong Kong would love to fill London's role,
and easily could.

London and New York seem to have the lock on it for the foreseeable
future.