Take Me Back To London!
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Posts posted by Take Me Back To London!
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I've joined HPC boards more than a year ago.
I have never seen anything written by RB that could be construed as tinfoil, nut job doom merchant stuff.
A year ago such a post would have been in that category.
Well, it ain't today.
I agree with an October meltdown scenario. I'm not sure what do about it. I don't see Tesco's accepting gold and silver. I do see the bank system seizing up and not being able to get cash out of the ATM, and Tesco not being able to accept chip and pin because the system has seized up.
Maybe I'm trying to tell myself to fill my mattress.
I am not sure about Tescos ever accepting gold, silver or even sovereigns or Britannias, but the likes of Harrods, Selfridges, John Lewis, Marks and Spencers and the Inland Revenue would be more likely to.
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QUOTE (Take Me Back To London! @ Sep 23 2008, 12:14 PM)
It may be a few years, it maybe a little bit longer, but things will return to pick up again and we will be on for the next house price boom and bust, regardless of what Gordon Brown says that this time he really means that he will abolish boom and bust .
There's going to be a lot of disappointed folk on here when society does not breakdown, The Boys from the Black Stuff, yes, Mad Max, No. There are just to many Mondeo men who just want the conventional life and nearest they will ever get or want to be in the woods with a gun is at a corporate paint ball event.
That's right, it'll all be over by Christmas and we'll look back and laugh about how silly it all was.Christmas is months away not years away and 2009 and 2010 are going to be very grim, but not the end of the world.
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Someone, somewhere, today, will complete their purchase of a house. They'll be borrowing money to do it from a bank or building society that is funding the loan from retail deposits.
While they are doing that, you, I and the majority of the people in this country will be going to work. We'll be paid, we'll pay our taxes and buy the things we need to live.
We'll do that next week and the week after that. We'll start thinking about Christmas - some people will be thinking about - and paying deposits on - next summer's holiday.
The economy will contract as credit will not be easy to obtain to grow businesses. And, in a recessionary environment, people will spend less being fearful of the future.
In a few years time things will pick up again. We'll have had a change of government, the worst of the bad times will appear to be behind us, people will start spending again.
We will not all be in the woods with guns.
It may be a few years, it maybe a little bit longer, but things will return to pick up again and we will be on for the next house price boom and bust, regardless of what Gordon Brown says that this time he really means that he will abolish boom and bust
. There's going to be a lot of disappointed folk on here when society does not breakdown, The Boys from the Black Stuff, yes, Mad Max, No. There are just to many Mondeo men who just want the conventional life and nearest they will ever get or want to be in the woods with a gun is at a corporate paint ball event.
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Typically here is a cooling off period, where you can hand your gold in for equivalent payment in legal tender....with a huge haircut and taxes to pay plus info to give, of course.
I will not be around for the gold amnesty nor to entertain the fuzz with Jackanory stories about how I sold my gold down the pub.
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Link for what?
That gold will be treated as all other banned substance when/if they ban it?
its'a future event, I can't post proof of that..opbviously. However -
http://news.bbc.co.uk/1/hi/england/bristol/7006142.stm
http://news.bbc.co.uk/1/hi/uk_politics/7266109.stm
They already seize all assets earned from drug sales, which is a banned substance. It logically follows that they will do exactly the same with other banned substances..and that can and will include gold.
Anyone with sovereigns or Britannias are in possession of gold which was minted by the government and one could of bought direct from the Royal Mint, it would be very rich of them to treat it like a band substance or article. However, they could put restrictions on selling, buying or importing gold as an attempt to stabilise a lack of confidence in pound sterling.
If there was any suggestion of severe restriction or conferscation, I think it would be time to leave the country.
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Correction, it is an absolute national disaster what has happened to the country, the damage is already done, the only thing left to happen is for the inevitable consequences to play out.
Yes, you're right. There has been a long and advoidable build up of safety negligence over a number of years, now we have the train crash and we are counting the dead bodies. The morgues are going to be filled to the gunnels with BTLers for a start.
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BBC1 8.30 - How safe is my money - How the financial meltdown impacts your bank.
BBC2 - 9.00 - What to eat now - How to source free and sustainable food from your backyard.
Ch 4 - 8.30 - Human cost of the Credit Crunch - How the crunch has impacted everyday 'middle class' people
CH4 - 9.00 - The price of property - How the pursuit of property has changed this county. Tonight Manchester's empty BTL 'apartments'.
OMG, watching tonights programmes it's like a full and relentless blitzkrieg, stukkers, tiger tanks, SS troops bringing all their might down on the housing market and economy.
It's an absolute national disaster what is now happening in the country.
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$905...no stopping it at the moment.Investors have scrambled back up off the floor...shook themselves down...now they want the real thing.! 
It does look like $1,200, as forecasted by a number of commentators, is back on for the year end.
When it does break the $1,000 psychological barrier, gold is going to be lit up again in flashing neon lights by the media.
The Sunday Times had an article entitled - How to protect your investment portfolio
As markets fall, people are seeking the security of gold, bonds and cash
It was not recommending buying gold, but on the overhand if I had followed The Time's financial advice over the years I would be a lot poorer.
GOLDIt fell 25% from a peak of over $1,000 an ounce in March to $755 early last week, but surged on Wednesday to $866, as investors fled to safety.
The $90 gain was a record one-day increase in absolute dollar terms and saw gold hit a near six-week high. It closed the week at $832.
Capital Economics believes bullion has largely become a play on the dollar, and chief international economist Julian Jessop expects the price to fall.
“Admittedly, the still-high risk of a financial-sector meltdown will provide some support for gold, but the most likely outcome is a prolonged period of weak global growth, low or even negative inflation and a gradually recovering dollar, with gold remaining on track to reach $700 soon,” he said.
If you still want to get in, Gold Bullion Securities (GBS) tracks the price of gold. Each GBS share represents one tenth of an ounce of gold and is backed by bullion held in HSBC vaults. The value of the shares should rise roughly in line with the price of the precious metal, after charges of 0.4% a year and dealing costs.
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I,m going to have to warm the video up for tonight.
It sounds like your VCR is coal powered.
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1. Most importantly when it's cheaper to buy a house with a mortgage than to rent.
2. Another indicator being, like in the early 1990s, when buying/having property as an investment is considered a sure way to lose money.
3. Also when the real dross of the bottom of the market properties are around 1 X salary multiples.
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GOLD........it`s about to burst through $900.
1600 hrs 22nd Sept
Just gone through $900.
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I just think the dealers don't want to sell their goods at a loss.
Things were very busy in early 2006 for bullion dealers and what I have experienced with ATS and Bairds demand is now even higher. The market is being restricted because bullion is being hoarded, a once in a generation opportunity presents itself for anyone with gold and the big boys know it. Why would they want to sell it today when it's going to be worth a hell of a lot more in a few years.
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George Galloway is now talking about this week's death of capitalism on talk sport radio.
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Ex-bankers should open gold and silver coin shops!
-- Posted Wednesday, 17 September 2008 | Digg This Article | Source: GoldSeek.com
By: Peter J. CooperA newspaper in Dubai has asked me to write an article on the best future option for career investment bankers who now find themselves unemployed. This is intended to be a humorous item although it will clearly depend on whether you are a casualty or not.
But it occurred to me that the best alternative for ex-investment bankers would be to enter the business of coin shops in a modest way where they could use their trading skills to run a daily book of gold and silver coins.
Precious metal prices are going to remain volatile as the true nature of the period ahead of us become clear: namely state capitalism and a reflation of the economy. We have seen $300 billion injected by central banks in the past two days alone to keep the ship of global finance afloat, and this junkie is going to need bigger and bigger fixes.
This is pretty much what happened in the late 1970s after the 1974-3 oil shock and the 1974 stock market crash. You can not expect to see the Federal Reserve walk away and watch the economy tank. So there is $85 billion for AIG, $200 billion for Fannie Mae and Freddie Mac and the central banks of the world assist with printing cash to keep the game alive: $300 billion in two days this week.
Inflation or reflation, it is a darn sight better than a true deflationary bust like the 1930s, although for certain sectors – like investment banking – it will be deflation. As in the 1970s this will be a stunningly poor market for investors in most asset classes, including traditional equities, real estate and as inflation picks up bonds too.
Cash was the best performer in the 70s, topped only by gold and silver for investors in the second half of that decade. It will be the same again, and a coin shop for gold and silver coins is going to be a very lively, profitable business, and ex-investment bankers have all the right skills to handle this sort of operation, even an aversion to risk from recent experience.
The writing is on the wall for coin shops. This summer the price of gold and silver has had a pretty nasty correction but the price of coins has hardly shifted – mainly because stocks have run so low. Coin shops suffered a run on their stock earlier this year.
Retail investors have been a bit quicker to jump ship than many experts on Wall Street who will now gradually see the logic of investment in precious metals during a period of reflation. So there is going to be big money in owning a coin shop where retail clients can buy and sell gold and silver coins, both rare coins and bullion with a close to spot price.
Peter J. Cooper
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Slow day in the office today, by the way?
Around my way, things are very quiet in Putney, which has a lot of premium property, in the EA shops there are a lot less clients and EAs at their desks, they even shut up shop early.
A real benefit is that Putney's side streets are not infested with Foxton's Minis anymore. It used to really annoy me when they had the graffiti graphics on their cars as it would really bring down the tone of the street, now you just get the occasional "Chipperfields Circus" Mini.
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Mike Graham is eager to here what you have got to say on the weeks news. (After 1 AM) Discussion about the government bailouts and bank merger etc.
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Mike Graham is eager to here what you have got to say on the weeks news. (After 1 AM) Discussion about the government bailouts and bank merger etc.
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Deep down, and after the way Gordon and company have reacted to pass the lloyds/hbos merger through, most bears on this site don't believe in 50% fall anymore. But they won't admit it.
I thought that a 50% reduction was a likely outcome, but after this week's latest panic stations, bank take over and the BoE sloshing cash into the markets, there is no question about prices dropping by half, it's going to be a drop of three quarters.
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Vince Cable and Hazel Blears next week.
If the audience is anything like this weeks, I'll be selling beef tomatoes with her name on at the door.
Maybe by next week the BBC props department will of built a moat and an electric fence to protect the panel.
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If we get major loss of confidence in banking and fiat currency, which is highly likely, resulting in the price of gold sky rocketing, will not the government again cover up their shortcomings by calling anyone having their savings in gold as spivs and speculators, who are taking advantage of the financial turmoil, which by their own selfish greed are making things only worse.
Before we know it the buying/lending/selling of gold is outlawed.
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At the risk of adding to your apoplexy.
http://www.thedailymash.co.uk/news/busines...k-200809181264/
hahaaahhaaaa ahhaaha ehheeee, nurse, my pills please the pinky ones are wearing off.
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Who cares? This thread is about planning for state failure and survival!
Think that they will be enforcing silly rules on methods of trapping animals if society goes down the tubes?!
Even if there was a total break down in society the local councils will still being enforcing parking and by-laws, just that parking wardens and council officials will be tooled up with Sten guns.
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Santander has grown prodigiously over the last ten years to become one of the world's largest and safest banks, despite this being through a period where banking practises worldwide have led to massive failures across the world. The Spanish banking, legal and property systems are bywords for integrity and regularly vie with Switzerland's reputation in terms of having a faultless record.
I fell off my chair laughing and can't get up for the belly ache I now have , tears rollin' down my face.
If I'm not careful I could die of laughter on this one .........
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A nice robust escape vehicle good for smashing through blockades and over turned burning cars.
1953 Humber Pig
Northern Ireland specification. Recent oil change. Good condition. Hardly used. £3,500 ono.
http://www.milweb.net/classifieds/large_im...43753&cat=1
Credit Card Crunch?
in Anecdotals
Posted · Edited by Take Me Back To London!
I rang up Barclaycard last week for a PIN reminder and I was asked if I wanted payment protection. I have never been asked that before in 20 years, anyway, I declined their offer. I had a zero balance on the card and I always pay the balance off every month when I do use it.
I thought it was Barclays that needed the redundancy protection insurance, not me.