Further, according to Reuters daily statements last week, RBS cash assets stood at £82bn, whereas net loans were recorded as £476bn.But this might be the clincher: total deposits came in at £476bn…exactly the same as loans. However, the difference between total assets and total liabilities was around £60bn in the bank’s favour. Given the amount of potential toxic write-off in the RBS group – and any ‘rush’ following a downgrade – it wouldn’t require much to change that positive into a disturbing negative. With total fluid assets standing at around £930bn, zero outgoings over five days of a ‘computer glitch’ would give the bank a £73bn windfall. More than enough to stave off a crisis, and at least temporarily restore creditor confidence, if such was needed. At the same time, of course, it physically barred the way to a run on the bank.
A confidential American management consultancy report commissioned by the Troika shows conclusively using maths of which the awake folks are already well aware that the upcoming bailout needs are miles beyond what the total ESM/IMF/ECB funds could ever be.To quote from this report, of which I have had sight:“At a total maximum going forward of €850bn euros, the fund is, even in terms of known commitments, under 45% of what would be required to ensure the viability of the eurozone….bailout costs in 2012 we estimate to be €2.04 trillion, and these will continue to rise as long as zero sovereign intervention policy applies.”
Today much of the internet backbone began the switch over to IPv6 making [dead:beaf::1] a valid IP address. But its going to be a bumpy ride to get off the IPv4 systems that are relied upon every day. Theres a good deal of software that either hasn’t been ported or will never be ported because it just doesn’t work in the IPv6 world, and its not just restricted to userlevel applications, it goes all the way down to kernel services.