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On April 28 2017 22:23 Zaros wrote:Show nested quote +On April 28 2017 21:48 BurningSera wrote:On April 28 2017 21:39 bardtown wrote: We are a net contributor. We pay twice as much into the EU as they then invest in the UK. Any money spent by the EU in the UK is UK taxpayer money - and so is a lot of the 'EU money' spent in Poland, France, Hungary, etc. If you want to pay us back for that we won't complain, I'm sure. net contributor that based on EU making you the Europe finance hub and the link to the rest of the world? I seriously don't care if you brought out the historical linkage there etc etc, but the simple fact is that, a tonne of companies and agencies are based in UK was because of it is a EU member, you cannot just ignore all that and call yourself net contributor lol. that's ignorant and the most arrogant thinking, and such typical one as well. there is no 'exit fee', EU simply asks for the money that they shouldn't pay in the first place (like moving that bloody EMA out of UK for example). why would they spend billions to do that because UK pissed off leaving EU. Leave it where it is if you don't want to pay.
it is the European medicine agency, the most powerful and stringent medicine regulator in the world (well, arguably, but that should be well accepted globally). the knowledge and expertise and experience from EMA is too important in the role of regulating literally every drug products in all European countries, that means if one thing fucked up, 28 EU member states countries can blow up quite easily, public health wise (and some of those who are not, because they are likely to piggy back by a EU member states). so you can see how it remains in a non-eu state can cause a tonne of issues; the bottomline is, EU wouldn't want to make special rules with UK just so they want EMA in UK for example.
and EMA sitting in UK, it makes MHRA such a powerful agency just because they work together closely; so that will be gone soon.
And just look at this one of example how fucked up and how much money involved when moving the building, human resources etc; there are many many EU related agencies and shit that need to make changes, and that bill who is going to pay?
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On May 04 2017 18:45 BurningSera wrote:Show nested quote +On April 28 2017 22:24 KwarK wrote:On April 28 2017 21:48 BurningSera wrote:On April 28 2017 21:39 bardtown wrote: We are a net contributor. We pay twice as much into the EU as they then invest in the UK. Any money spent by the EU in the UK is UK taxpayer money - and so is a lot of the 'EU money' spent in Poland, France, Hungary, etc. If you want to pay us back for that we won't complain, I'm sure. net contributor that based on EU making you the Europe finance hub and the link to the rest of the world? I seriously don't care if you brought out the historical linkage there etc etc, but the simple fact is that, a tonne of companies and agencies are based in UK was because of it is a EU member, you cannot just ignore all that and call yourself net contributor lol. that's ignorant and the most arrogant thinking, and such typical one as well. there is no 'exit fee', EU simply asks for the money that they shouldn't pay in the first place (like moving that bloody EMA out of UK for example). why would they spend billions to do that because UK pissed off leaving EU. If you think London only became a financial hub after joining the EU then you've lost the fucking plot mate. London became a financial hub around the time it became the centre of a global empire built on trade and finance. Finance attracts more finance. The institutions, infrastructure, legal framework and so forth creates a feedback loop where finance comes to London because London can offer them what they need and London has what they need because finance comes to London. The EU didn't make London London, the last four hundred years of an English dominated globe did. It's not something you can simply create, any more than you could make an ecosystem top down. It's something that grows over time. first of all, where the hell did you get that 400 years of dominance from? that's exactly the kind of delusion that caused all the brexit shit, 1700 is 300 years from today, stretching it, and that's only the west side of the world, where you were pulling Irish and you first landed america and you killed people without guns. it was then near 180 years ago, you and European countries (that's first time in the world history, that one and only time Europe actually work together, called eight nation alliance, look it up mate, that ugliest page of history is only half page long on Wikipedia) go east and blow up the East so hard. Mate, China dominated the technology, education, economy, human resources for 4800 years on this planet; you want to talk about dominance, mate? so ya, Europe didn't make London London, but they make you the international hub to the rest of world, because of the development in history, not because you are special or 'dominant the world'. They can fuck with you anytime if they want to, all the companies (EU or rest of world) come to UK in the past 40 years because you are in EU, simple fact. and please don't even remind that you needed American help during ww2, just, stop.
rofl, Calm down.
400 years might be a stretch it was more the dutch 400 years ago but since the glorious revolution and the dutch decline the fact that Britain was a constitutional monarchy and had a stable consistent legal system attracted finance. Money attracts money and so more institutions come to London. The British Empire and English language obviously played a role too in making English the world language and London the worlds centre for a time.
As for the other stuff about china and ww2 what does that have to do with anything?
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Man, you know you've made it when the best insult they can come up with is that you couldn't win a World War single-handedly . Seriously though that 4800 year line about China was far more revisionist than anything you were responding to. Some people will believe anything in their quest to disparage western civilisation.
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Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!".
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On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!".
If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process.
However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to.
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London got some benefit from being an entry point to the EU, but that does not explain why it is the financial capital (of the world, by the way, not just Europe). Businesses that wanted an entry point could have chosen any city in the EU. The expertise and capital gap between London and its European competitors is not something that can be bridged any time soon. For example, there are more people employed in London's financial sector than live in Frankfurt. People who think that the EU is essential to London's success might want to look at the companies which have invested and relocated there since the vote.
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On May 04 2017 21:37 Ghostcom wrote:Show nested quote +On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. It's not either or. It's a little bit of both.
London was already an important financial center. And so it made sense for businesses to create an EU headquarter in London, and that created a beneficial feedback loop, because as more businesses settled there, it was increasingly attractive for other businesses. That doesn't directly have anything to do with the EU designating London for that purpose, but if the UK had not joined the EU in the 70s, the exact same EU regulation that made London more attractive would have benefited some other city (most likely Paris, Frankfurt, Amsterdam, or Brussels). Stating that it is due to the EU that London has power as a financial center is just as true (or false) as referring to London's economic power in Victorian times as the reason it is still that powerful.
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On May 04 2017 22:07 bardtown wrote: London got some benefit from being an entry point to the EU, but that does not explain why it is the financial capital (of the world, by the way, not just Europe). Businesses that wanted an entry point could have chosen any city in the EU. The expertise and capital gap between London and its European competitors is not something that can be bridged any time soon. For example, there are more people employed in London's financial sector than live in Frankfurt. People who think that the EU is essential to London's success might want to look at the companies which have invested and relocated there since the vote. Pretty sure NYC wants to dispute that status, and depending on what aspect of finances you focus on most, some other cities around the world too. More accurate to call it one of the financial capitals of the world
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The others are still some way behind London and New York for now. Incidentally, New York is the city which has the second highest amount of euro clearing transactions.
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United States42764 Posts
On May 04 2017 18:45 BurningSera wrote:Show nested quote +On April 28 2017 22:24 KwarK wrote:On April 28 2017 21:48 BurningSera wrote:On April 28 2017 21:39 bardtown wrote: We are a net contributor. We pay twice as much into the EU as they then invest in the UK. Any money spent by the EU in the UK is UK taxpayer money - and so is a lot of the 'EU money' spent in Poland, France, Hungary, etc. If you want to pay us back for that we won't complain, I'm sure. net contributor that based on EU making you the Europe finance hub and the link to the rest of the world? I seriously don't care if you brought out the historical linkage there etc etc, but the simple fact is that, a tonne of companies and agencies are based in UK was because of it is a EU member, you cannot just ignore all that and call yourself net contributor lol. that's ignorant and the most arrogant thinking, and such typical one as well. there is no 'exit fee', EU simply asks for the money that they shouldn't pay in the first place (like moving that bloody EMA out of UK for example). why would they spend billions to do that because UK pissed off leaving EU. If you think London only became a financial hub after joining the EU then you've lost the fucking plot mate. London became a financial hub around the time it became the centre of a global empire built on trade and finance. Finance attracts more finance. The institutions, infrastructure, legal framework and so forth creates a feedback loop where finance comes to London because London can offer them what they need and London has what they need because finance comes to London. The EU didn't make London London, the last four hundred years of an English dominated globe did. It's not something you can simply create, any more than you could make an ecosystem top down. It's something that grows over time. first of all, where the hell did you get that 400 years of dominance from? that's exactly the kind of delusion that caused all the brexit shit, 1700 is 300 years from today, stretching it, and that's only the west side of the world, where you were bullying Irish and you first landed america and you killed people without guns. it was then near 180 years ago, you and European countries (that's first time in the world history, that one and only time Europe actually work together, called eight nation alliance, look it up mate, that ugliest page of history is only half page long on Wikipedia) went east and blew up the East so hard. Mate, China dominated the technology, education, economy, human resources for 4800 years on this planet; you want to talk about dominance, mate? so ya, Europe didn't make London London, but they make you the international hub to the rest of world, because of the natural development in history, not because you are special or 'dominated the world'. They can fuck with you anytime if they want to, all the companies (EU or rest of world) come to UK in the past 40 years because you are in EU, simple fact. and please don't even remind me that you needed American help during ww2, just, stop. Like I said, lost the plot.
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United States42764 Posts
On May 04 2017 21:37 Ghostcom wrote:Show nested quote +On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. The United States is part of the Anglosphere. In this case the child has vastly outgrown the parent but you can't deny that London benefits from the economic, cultural and social ties with the United States and that being the European Nexus of trade with the New World greatly boosted the importance of London. Who would win in a fight between the US and UK isn't at all relevant to whether London only exists as a trade hub because of the EU. Surely you can all see the irony of a collection of people from around the world arguing on the forum of a Dutch clan about whether the English dominated the modern world in English. It's not just a favour the EU granted us to be friendly, it's the historical reality that the Anglosphere currently dominates the world and has for some time.
Financial hubs aren't created, they grow in a positive feedback loop. Clients bring banks, banks bring clients, clients bring more banks. Businesses need access to accounting firms and accounting firms need business and nowhere was this feedback loop stronger than in London, the hub of the global economy from before there was a global economy. The days of Empire are over but one cannot simply declare an alternate hub and make it so. Given enough time London will probably fade and others will grow but the EU certainly did not make London a financial centre. London made London and defined the very concept of a financial centre around itself.
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On May 04 2017 22:41 KwarK wrote:Show nested quote +On May 04 2017 21:37 Ghostcom wrote:On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. The United States is part of the Anglosphere. In this case the child has vastly outgrown the parent but you can't deny that London benefits from the economic, cultural and social ties with the United States and that being the European Nexus of trade with the New World greatly boosted the importance of London. Who would win in a fight between the US and UK isn't at all relevant to whether London only exists as a trade hub because of the EU. Surely you can all see the irony of a collection of people from around the world arguing on the forum of a Dutch clan about whether the English dominated the modern world in English. It's not just a favour the EU granted us to be friendly, it's the historical reality that the Anglosphere currently dominates the world and has for some time. Financial hubs aren't created, they grow in a positive feedback loop. Clients bring banks, banks bring clients, clients bring more banks. Businesses need access to accounting firms and accounting firms need business and nowhere was this feedback loop stronger than in London, the hub of the global economy from before there was a global economy. The days of Empire are over but one cannot simply declare an alternate hub and make it so. Given enough time London will probably fade and others will grow but the EU certainly did not make London a financial centre. London made London and defined the very concept of a financial centre around itself.
Ok? Now go back and read what I actually wrote, because you seem to be arguing against something which only exists in your head.
EDIT: Or you should've quoted Burningsera again maybe?
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United States42764 Posts
On May 05 2017 01:09 Ghostcom wrote:Show nested quote +On May 04 2017 22:41 KwarK wrote:On May 04 2017 21:37 Ghostcom wrote:On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. The United States is part of the Anglosphere. In this case the child has vastly outgrown the parent but you can't deny that London benefits from the economic, cultural and social ties with the United States and that being the European Nexus of trade with the New World greatly boosted the importance of London. Who would win in a fight between the US and UK isn't at all relevant to whether London only exists as a trade hub because of the EU. Surely you can all see the irony of a collection of people from around the world arguing on the forum of a Dutch clan about whether the English dominated the modern world in English. It's not just a favour the EU granted us to be friendly, it's the historical reality that the Anglosphere currently dominates the world and has for some time. Financial hubs aren't created, they grow in a positive feedback loop. Clients bring banks, banks bring clients, clients bring more banks. Businesses need access to accounting firms and accounting firms need business and nowhere was this feedback loop stronger than in London, the hub of the global economy from before there was a global economy. The days of Empire are over but one cannot simply declare an alternate hub and make it so. Given enough time London will probably fade and others will grow but the EU certainly did not make London a financial centre. London made London and defined the very concept of a financial centre around itself. Ok? Now go back and read what I actually wrote, because you seem to be arguing against something which only exists in your head. First paragraph was adding to the point that the disconnect between the US and the UK doesn't make sense unless for some reason you're trying to argue that the US isn't a part of the English dominated modern world. Wasn't arguing with you friend.
Second paragraph was disagreeing with the idea that financial hubs can simply be moved on transferred. London was still the hub of the single biggest trade zone in the world at the end of WWII, despite your protestations to the contrary (the Empire/Commonwealth trade agreements had yet to be ended), and was comparatively untouched compared to the devastation on the continent. Sure, London benefited from the proximity to Europe. It also benefited from North Sea oil. But the EU didn't make London important, no more than the EU made Antwerp a hub for the diamond trade.
Diamonds come to Antwerp because Antwerp is where the industries built around the diamond trade are located. And the industries the diamond trade depends upon are in Antwerp because that's where the diamonds are. London is the same, but for money, not diamonds.
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On May 05 2017 01:20 KwarK wrote:Show nested quote +On May 05 2017 01:09 Ghostcom wrote:On May 04 2017 22:41 KwarK wrote:On May 04 2017 21:37 Ghostcom wrote:On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. The United States is part of the Anglosphere. In this case the child has vastly outgrown the parent but you can't deny that London benefits from the economic, cultural and social ties with the United States and that being the European Nexus of trade with the New World greatly boosted the importance of London. Who would win in a fight between the US and UK isn't at all relevant to whether London only exists as a trade hub because of the EU. Surely you can all see the irony of a collection of people from around the world arguing on the forum of a Dutch clan about whether the English dominated the modern world in English. It's not just a favour the EU granted us to be friendly, it's the historical reality that the Anglosphere currently dominates the world and has for some time. Financial hubs aren't created, they grow in a positive feedback loop. Clients bring banks, banks bring clients, clients bring more banks. Businesses need access to accounting firms and accounting firms need business and nowhere was this feedback loop stronger than in London, the hub of the global economy from before there was a global economy. The days of Empire are over but one cannot simply declare an alternate hub and make it so. Given enough time London will probably fade and others will grow but the EU certainly did not make London a financial centre. London made London and defined the very concept of a financial centre around itself. Ok? Now go back and read what I actually wrote, because you seem to be arguing against something which only exists in your head. First paragraph was adding to the point that the disconnect between the US and the UK doesn't make sense unless for some reason you're trying to argue that the US isn't a part of the English dominated modern world. Wasn't arguing with you friend. Second paragraph was disagreeing with the idea that financial hubs can simply be moved on transferred. London was still the hub of the single biggest trade zone in the world at the end of WWII, despite your protestations to the contrary (the Empire/Commonwealth trade agreements had yet to be ended), and was comparatively untouched compared to the devastation on the continent. Sure, London benefited from the proximity to Europe. It also benefited from North Sea oil. But the EU didn't make London important, no more than the EU made Antwerp a hub for the diamond trade.
1) I certainly didn't argue that financial hubs can simply be moved or transferred. 2) Post WWII UK had NOTHING on 1800s UK in relevance. I never stated that post WWII UK wasn't still a significant force in the world. Please be honest in your presentation of my arguments. 3) I never argued that any single thing made London important (because that would be wrong). I'm arguing that London benefited from EU and the large services industry that has grown there grew in part because it gave people access to the EU's internal market (Obviously there were other reasons as well such as ability to attract skilled labour over e.g. Frankfurt because London is a nicer place to live - another thing where City of London might suffer from BREXIT). As a consequence of BREXIT London has lost part of its attractiveness and as such might lose some its relevance depending on negotiations.
EDIT: Are you aware that you are incredibly annoying to discuss anything with? I'm never quite able to tell whether you consider everyone else an idiot or if you actually do think we are all about 5 years old who need the most obvious shit explained on a step by step basis. I get your argument. I got it from the very first post of yours. What you are arguing (Why London initially rose to importance) is just not really a relevant response to what I posted (Access to single market was one of the important benefits of having a subsidiary in London for third-country firms).
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United States42764 Posts
On May 05 2017 01:51 Ghostcom wrote:Show nested quote +On May 05 2017 01:20 KwarK wrote:On May 05 2017 01:09 Ghostcom wrote:On May 04 2017 22:41 KwarK wrote:On May 04 2017 21:37 Ghostcom wrote:On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. The United States is part of the Anglosphere. In this case the child has vastly outgrown the parent but you can't deny that London benefits from the economic, cultural and social ties with the United States and that being the European Nexus of trade with the New World greatly boosted the importance of London. Who would win in a fight between the US and UK isn't at all relevant to whether London only exists as a trade hub because of the EU. Surely you can all see the irony of a collection of people from around the world arguing on the forum of a Dutch clan about whether the English dominated the modern world in English. It's not just a favour the EU granted us to be friendly, it's the historical reality that the Anglosphere currently dominates the world and has for some time. Financial hubs aren't created, they grow in a positive feedback loop. Clients bring banks, banks bring clients, clients bring more banks. Businesses need access to accounting firms and accounting firms need business and nowhere was this feedback loop stronger than in London, the hub of the global economy from before there was a global economy. The days of Empire are over but one cannot simply declare an alternate hub and make it so. Given enough time London will probably fade and others will grow but the EU certainly did not make London a financial centre. London made London and defined the very concept of a financial centre around itself. Ok? Now go back and read what I actually wrote, because you seem to be arguing against something which only exists in your head. First paragraph was adding to the point that the disconnect between the US and the UK doesn't make sense unless for some reason you're trying to argue that the US isn't a part of the English dominated modern world. Wasn't arguing with you friend. Second paragraph was disagreeing with the idea that financial hubs can simply be moved on transferred. London was still the hub of the single biggest trade zone in the world at the end of WWII, despite your protestations to the contrary (the Empire/Commonwealth trade agreements had yet to be ended), and was comparatively untouched compared to the devastation on the continent. Sure, London benefited from the proximity to Europe. It also benefited from North Sea oil. But the EU didn't make London important, no more than the EU made Antwerp a hub for the diamond trade. 1) I certainly didn't argue that financial hubs can simply be moved or transferred. 2) Post WWII UK had NOTHING on 1800s UK in relevance. I never stated that post WWII UK wasn't still a significant force in the world. Please be honest in your presentation of my arguments. 3) I never argued that any single thing made London important (because that would be wrong). I'm arguing that London benefited from EU and the large services industry that has grown there grew in part because it gave people access to the EU's internal market (Obviously there were other reasons as well such as ability to attract skilled labour over e.g. Frankfurt because London is a nicer place to live - another thing where City of London might suffer from BREXIT). As a consequence of BREXIT London has lost part of its attractiveness and as such might lose some its relevance depending on negotiations. 1800s were a long era of colossal change, 1899 was a very different time to 1800. In relative terms, the balance between NY and London shifted between 1800 and 1945 but in real terms, in 1945 London was more important than ever. In 1945 London was the center of the global oil trade for example, an enormous industry that grew tremendously in the exertions of the Second World War. I will absolutely contest that 1945 London was a shadow of its former self. Its star may have been starting to be eclipsed by others but it was still brighter than it had ever been. It wasn't until the United States mandated the end of the Empire trade agreements and the surrender of Suez that London started to fade. You're projecting the 70s backwards without understanding how we got to the 70s.
London was always going to be a financial hub for Europe, EU or no EU, because London is London. There simply was not, and is not, an alternative to it within Europe. One may slowly grow over time and London probably will slowly decline over time but London being in the EU was a mutually beneficial arrangement. To contest that point depends upon arguing that a rival hub could have been created to take the role that was taken by London.
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On May 05 2017 02:01 KwarK wrote:Show nested quote +On May 05 2017 01:51 Ghostcom wrote:On May 05 2017 01:20 KwarK wrote:On May 05 2017 01:09 Ghostcom wrote:On May 04 2017 22:41 KwarK wrote:On May 04 2017 21:37 Ghostcom wrote:On May 04 2017 21:03 Reaps wrote: Yea was wondering same thing.. what relevance does "needing American help in ww2" have to do with what Kwark said. It's the kind of comment i expect from Mythical, "England sucks, where i come from is better so take that!". If I am to guess based on reading rather heavily between the lines the WW2 comment likely stems from a "if you truly were as dominant as you think, then why did you need the Americans to defeat Germany?" thought-process. However, disregard all that, the post still has a point in that London wouldn't have been this prosperous today without EU making it the de facto entry into EU (firms have to have a branch within the single market to conduct business) and allocating it important regulatory institutes such as EMA and EBA. You have to be a special kind of delusional to think that London did not hugely benefit from EU and would've turned out the same because of some kind of special British dominance (which after WW2 was frankly only a shadow of it former self if not downright non-existent by comparison). Following Brexit London is no longer within the single market and thus all the third-country firms have to establish a new subsidiary within the single-market (likely Frankfurt or Paris) if they still want access (which they do). There is obviously no direct cost for the UK involved in this. However, the question is whether or not the London affiliation is going to hold the same power as it used to (having a European HQ in London is nonsensical if London can't give access to the EU market). The opinions seem to be divided on this topic based on what I can read - mostly because no one is certain what the negotiations will lead to. The United States is part of the Anglosphere. In this case the child has vastly outgrown the parent but you can't deny that London benefits from the economic, cultural and social ties with the United States and that being the European Nexus of trade with the New World greatly boosted the importance of London. Who would win in a fight between the US and UK isn't at all relevant to whether London only exists as a trade hub because of the EU. Surely you can all see the irony of a collection of people from around the world arguing on the forum of a Dutch clan about whether the English dominated the modern world in English. It's not just a favour the EU granted us to be friendly, it's the historical reality that the Anglosphere currently dominates the world and has for some time. Financial hubs aren't created, they grow in a positive feedback loop. Clients bring banks, banks bring clients, clients bring more banks. Businesses need access to accounting firms and accounting firms need business and nowhere was this feedback loop stronger than in London, the hub of the global economy from before there was a global economy. The days of Empire are over but one cannot simply declare an alternate hub and make it so. Given enough time London will probably fade and others will grow but the EU certainly did not make London a financial centre. London made London and defined the very concept of a financial centre around itself. Ok? Now go back and read what I actually wrote, because you seem to be arguing against something which only exists in your head. First paragraph was adding to the point that the disconnect between the US and the UK doesn't make sense unless for some reason you're trying to argue that the US isn't a part of the English dominated modern world. Wasn't arguing with you friend. Second paragraph was disagreeing with the idea that financial hubs can simply be moved on transferred. London was still the hub of the single biggest trade zone in the world at the end of WWII, despite your protestations to the contrary (the Empire/Commonwealth trade agreements had yet to be ended), and was comparatively untouched compared to the devastation on the continent. Sure, London benefited from the proximity to Europe. It also benefited from North Sea oil. But the EU didn't make London important, no more than the EU made Antwerp a hub for the diamond trade. 1) I certainly didn't argue that financial hubs can simply be moved or transferred. 2) Post WWII UK had NOTHING on 1800s UK in relevance. I never stated that post WWII UK wasn't still a significant force in the world. Please be honest in your presentation of my arguments. 3) I never argued that any single thing made London important (because that would be wrong). I'm arguing that London benefited from EU and the large services industry that has grown there grew in part because it gave people access to the EU's internal market (Obviously there were other reasons as well such as ability to attract skilled labour over e.g. Frankfurt because London is a nicer place to live - another thing where City of London might suffer from BREXIT). As a consequence of BREXIT London has lost part of its attractiveness and as such might lose some its relevance depending on negotiations. London was always going to be a financial hub for Europe, EU or no EU, because London is London. There simply was not, and is not, an alternative to it within Europe. One may slowly grow over time and London probably will slowly decline over time but London being in the EU was a mutually beneficial arrangement. To contest that point depends upon arguing that a rival hub could have been created to take the role that was taken by London.
Literally no one is arguing this. Discussing with you is like a Holberg play. I'm out.
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United States42764 Posts
On May 05 2017 01:51 Ghostcom wrote: EDIT: Are you aware that you are incredibly annoying to discuss anything with? I'm never quite able to tell whether you consider everyone else an idiot or if you actually do think we are all about 5 years old who need the most obvious shit explained on a step by step basis. I get your argument. I got it from the very first post of yours. What you are arguing (Why London initially rose to importance) is just not really a relevant response to what I posted (Access to single market was one of the important benefits of having a subsidiary in London for third-country firms). When you make claims like that London in 1945 was a shadow of its earlier self, as if World War II wasn't the single greatest exercise in acquisition, coordination and transportation of resources in the history of civilization and as if London wasn't the hub that the majority of that logistical operation was conducted from then I'm somewhat forced to correct you. WWII was London's Swansong. If you feel like sometimes I talk to you like you need simple things explained to you then I'm sorry, sometimes it feels like you need simple things explained to you. But if you hadn't said the thing that was very wrong then I wouldn't be here trying to tell you why it was so wrong.
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On May 05 2017 02:06 KwarK wrote:Show nested quote +On May 05 2017 01:51 Ghostcom wrote: EDIT: Are you aware that you are incredibly annoying to discuss anything with? I'm never quite able to tell whether you consider everyone else an idiot or if you actually do think we are all about 5 years old who need the most obvious shit explained on a step by step basis. I get your argument. I got it from the very first post of yours. What you are arguing (Why London initially rose to importance) is just not really a relevant response to what I posted (Access to single market was one of the important benefits of having a subsidiary in London for third-country firms). When you make claims like that London in 1945 was a shadow of its earlier self, as if World War II wasn't the single greatest exercise in acquisition, coordination and transportation of resources in the history of civilization and as if London wasn't the hub that the majority of that logistical operation was conducted from then I'm somewhat forced to correct you. WWII was London's Swansong. If you feel like sometimes I talk to you like you need simple things explained to you then I'm sorry, sometimes it feels like you need simple things explained to you. But if you hadn't said the thing that was very wrong then I wouldn't be here trying to tell you why it was so wrong.
Maybe, if I didn't have to spend 90% of my post on correcting your complete and utter lack of reading comprehension, I could spend more time on expanding what I mean by a secondary sentence in a parenthesis in a way which would satisfy you. I'm sorry, but if you were actually able to read a 10 line post without getting nearly every argument presented in it wrong, then I wouldn't have to spend the next posts explaining to you.
EDIT: For example, I never stated anything concerning London in 1945. I stated something about the state of the British Empire in 1945. There is an important difference, but again your reading comprehension barely rivals that of a 2.nd grader so of course you would miss it. Talk about getting the simple things wrong. But I guess nearly going bankrupt in 1946 was an excellent example of the pinnacle of the British dominance?
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United States42764 Posts
On May 05 2017 02:14 Ghostcom wrote:Show nested quote +On May 05 2017 02:06 KwarK wrote:On May 05 2017 01:51 Ghostcom wrote: EDIT: Are you aware that you are incredibly annoying to discuss anything with? I'm never quite able to tell whether you consider everyone else an idiot or if you actually do think we are all about 5 years old who need the most obvious shit explained on a step by step basis. I get your argument. I got it from the very first post of yours. What you are arguing (Why London initially rose to importance) is just not really a relevant response to what I posted (Access to single market was one of the important benefits of having a subsidiary in London for third-country firms). When you make claims like that London in 1945 was a shadow of its earlier self, as if World War II wasn't the single greatest exercise in acquisition, coordination and transportation of resources in the history of civilization and as if London wasn't the hub that the majority of that logistical operation was conducted from then I'm somewhat forced to correct you. WWII was London's Swansong. If you feel like sometimes I talk to you like you need simple things explained to you then I'm sorry, sometimes it feels like you need simple things explained to you. But if you hadn't said the thing that was very wrong then I wouldn't be here trying to tell you why it was so wrong. Maybe, if I didn't have to spend 90% of my post on correcting your complete and utter lack of reading comprehension, I could spend more time on expanding what I mean by a secondary sentence in a parenthesis in a way which would satisfy you. I'm sorry, but if you were actually able to read a 10 line post without getting nearly every argument presented in it wrong, then I wouldn't have to spend the next posts explaining to you. EDIT: For example, I never stated anything concerning London in 1945. I stated something about the state of the British Empire in 1945. There is an important difference, but again your reading comprehension barely rivals that of a 2.nd grader so of course you would miss it. Talk about getting the simple things wrong. But I guess nearly going bankrupt in 1946 was an excellent example of the pinnacle of the British dominance? The "bankruptcy" of 1946 was the United States presenting a bill for the material used in the war, to be paid either in dollars or bullion, and Britain agreeing to a financing arrangement due to only having stirling on hand. And for what it's worth, the bill and the interest on the bill, were paid in full. As for the state of the empire in 1946, yes, it was in a pretty solid shape. It was doomed because a commitment had been made at the signing of the first Atlantic charter to end the empire trade agreements that locked the empire in to trade with the United Kingdom. American intervention in the Second World War was conditional on the end of British global trade hegemony through the doctrine of free trade. That had yet to take effect, 1946 still saw all of the benefits of empire, compounded by the necessities of war. You're projecting backwards again.
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