Take Me Back To London!
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Posts posted by Take Me Back To London!
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Anyone else getting grief from the other half about not buying a house?
At this rate, I'm going to be a forced buyer. Either that or get CSA'd and end up living in a bedsit.
Must resist, must resist.....
VMR.
I highly recommend that you and your GF listen to a recent podcast on Commodity Watch Radio entitled "UK Property: How Low Will It Go?" (9th July 2008). I am sure once she listens to it your life will be a lot easier.
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O'Toole has consistently warned that any attempt to cut back on the £30bn upgrade programme would result in chaos because the network is struggling to cope with current levels of demand.
The network is struggling now, but in a year or two the underground is going to be a lot quieter with no need to run so many trains, especially during the rush hours.
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Hyperinflation it is.
http://www.youtube.com/user/donharrold
"You are gonna need a wheelbarrow of cash to buy a loaf of bread."
It won't be long until we see a MoneyWeek article about making a killing by investing in wheelbarrow manfacturers or a wheelbarrow ETF.
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Nationwide say it will go down 25%
Nationwide have always underestimated the market when it's either going up or down. They did predict that 2008 would have 0% house price growth and last November they thought the credit crunch would last 3 or 4 months.
Nationwide's Chief Economist on Sky News -
I think it's very reassuring that they say prices will go down by 25% as given their track record we are looking at an absolute minimum 50% correction and more likely a figure closer to 75%.
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Are £20 notes from a 50+ year old worth more to A&L than those from a 44 year old ?
They may argue that a 53 year old may on average leave their money in an account for longer than a 28 year old, but a 1 year bond requires money to be left in the account for 1 year, so what difference does it make if you are 18 or 80 ?
The banks and building societies know that the older saver is more likely to me more apathetic about changing accounts. So, when a high paying bond finishes the money goes into another account which pays a much lower rate until the account holder does a closure/transfer.
Also if A&L are now advertising a 7.5% bond, even though this is restricted to over 50's, is this not a warning sign that they are desperate for cash?
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No physical address for this "company" - just a PO Box... So called 35 years service, yet only google history of about a few weeks. FFF should be tracked using RIPA to find out where this terrorist is scamming from.
(All scammers should surely be seen as terrorists with the NuLabour laws? - This is a scam if I surely ever met one - DO NOT FUND MUSLIM FUNDIMENTALISTS BY BUYING PRETEND GOLD FROM LYING SCAMMING KUNTS LIKE THIS!)
With regards to the P.O. box address this can be checked with the Royal Mail as they will have a contact address. When I had a P.O. box I had to provide proof of address and a man from the Royal Mail came to my house to verify the application. Another safeguard is that the invoices for the P.O. box are sent to the holders normal address. Also there is the option of going to the sorting office for your post or pay a higher fee and have the P.O. box post sent directly to one's address.
The telephone and fax numbers are BT landlines with a 01454 code for Falfield.
I suppose since they are trading as an incorporated body "Elm Investments (Western) Limited" this could be checked on the companies register.
Also on their contact page they state "visits are by prior arrangement only and held under the strictest of security". So I suppose you can go and visit before you buy to make sure you are not dealing with an Al-Qaeda franchise.
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Dear Metallic, I see that the 1 kg silver bars are from Johnson Matthey and not refined by Baird.
With regards to coininvestdirect I noticed a few days after I ordered some 1/4 ozt britannias, which was a few weeks ago, that they no longer have them shown on their coin page anymore. Instead of saying a particular coin is out of stock, it seems that they delete it from their list.
Has anyone noticed if their stock list has been getting shorter?
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I am not sure how this would stop you being shot by said yokel and him taking the gold anyway. Perhaps it was just to buy food or a vehicle, but then the same problem would still apply...
I think the pilot's pistol would have something to say about that with an appropriate warning shot aimed for between the yokel's eyes.
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i don't think ours stands up against that. it looked like they'd practised.
ours looks like someone only told us that we had to do it the night before and so we cobbled something together by raiding a fancy dress shop and telling an amateur dance troop to go out and 'improvise'.
and don't get me started on the animation.
That's how we used to win wars. Get stuck in and hope for the best.
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Gold, silver and platinum are measured in troy ounces (ozt), which is about 10% heavier than a conventional imperial ounce (oz)
Troy ounce = 31.1034768g
You would be looking at 32 x 1 ozt gold coins.
Also for example, a 1 ozt South African Krugerrand coin is slightly heavier as there is also copper content of 2.826g, so each coin is 33.93g.
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I don't know if anyone else has had any problems, but twice now with orders from coininvestdirect they mess up the shipping address. Even though I type out my full name, address and postcode on the original order and get the email confirmation and paper receipts with the address correctly printed, the address label is printed without a house number and the street address is typed without spaces. I was told the first time that their warehouse would put this right for future orders.
Everything else is good with them, but I am sick and tired of speaking to UPS and sending faxes to sort out their crock ups.
Maybe, I should just stick to going in person to Baird's Hatton Garden outlet, which has the look of something straight out of the Sweeney and the guy behind the counter who does business with old school British Rail charm, which I quite like.
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BUY BIG TIME FROM ANYWHERE...HONESTLY, KITCO CAN PROVIDE THAT (I WORKED FOR THEM FOR 3 YEARS FROM JERSEY)
BAIRD CAN SUPPLY (NICE OUNCE BARS IN SILVER TOO, SO CAN ATS)
BUT AT £6-7 PTO PRICES JUST BUY IT, I THINK IT WILL REACH BIG DOUBLE FIGURES IN THE NOT SO DISTANT FUTURE.
BUT REMEMBER THE VAT.....SILVER IS VATABLE
WHEN GOLDS KING, SILVER IS QUEEN, I HAVE 9 KILOGRAMS OF SILVER AND I WILL STILL BE BUYING AT THESE PRICES, ONE KILOGRAM IS KEEPING MY DOOR FROM SLAMMING (DOORSTOP), THE REST I HAVE IS IN OUNCES AND GRAMS.
QUESTION YOU NEED TO ASK YOUR SELF, IS WHY BUY SHARES?
SHARES ARE FOR PEOPLE WHO WANT TO TRADE ON THE STOCK MARKET, MAKING MONEY ONE DAY, AND LOSING IT THE NEXT, IT'S A GAMBLE.
WITH GOLD AND SILVER/PLATINUM ETC, I ONLY BUY BECAUSE I THINK OF ARMAGENDON, I BUY TO PROTECT MYSELF FROM FINANCIAL MELT DOWN, BECAUSE IF IT HAPPENS (AND I THINK IT WILL) THEN I WILL BE OK. (WELL TO BE HONEST I WILL HAVE A BETTER ADVANTAGE THAN MOST)
SILVERS A GOOD SHOUT, IT'S NOT GONNA LOSE OUT AT THESE PRICES, THE BEST INVESTMENT YOU CAN MAKE IN ANYTHING THAT PEOPLE WILL ALWAYS WANT IS TO BUY IT CHEAP...AND LETS FACE IT, SILVER IS CHEAPER THAN IT'S WEIGHT IN FISH AND CHIPS
The idea of armegedon does appeal to me, like in the 1979 Quatermass series*, but I think that I am going to be rather disappointed, nothing that exciting ever happens! I have been buying into gold and silver and will continue to drip feed into precious metals as I believe there is a good chance, a very good chance for prices to double or treble, on the other hand I might have to swallow a loss.
* "Quatermass is set in an alternative Britain of the near future, a country which has disintegrated into virtual anarchy, beset by muggers, with gang wars in the streets and state-sanctioned 'gladiator' killing replacing football at Wembley stadium".
http://www.screenonline.org.uk/tv/id/442672/index.html
Reading that above text again, which I copied and pasted from The BFI screenonline Quatermass page, we already have all of the above, except the state-sanctioned gladiator killing at Wembley Stadium.
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1) Gold in Sterling hasn't dropped to the same levels as the $
2) Higher demand premiums in the Uk means gold isn't much actually cheaper than it was back in March
I was buying new Krugerrands back in November 2007 at £388 but are now costing over £453. The paper metal price in $ was around the same.
Prices on coininvestdirect.com are actually rising as the paper price continues to decline. I want to take advantage of this correction with cheap gold and silver but no such joy. Prices at goldline.co.uk aren't any better either.
The Royal Mint still have 2008 gold bullion sovereigns for sale at £145 in contrast to Baird's £131.25.
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Hey everyone,
I have been doing my research for quite sometime now waiting for the crash to start, i dont buy into all this ohhh dont invest in a crash crap.
I believe that if debenhams have a sale then they are selling old stock, not there new stuff right? well the property market is the same, the stock is just as good as the new stuff just at sale prices and a little out of date.
Anyway I'm not here to debate the market what I'm here to do is stir up a question most people want to know.
HOW DO I WORK THE FIGURES OUT?
OK i get this all the time, how much can i afford? how much rent can i charge? how much, how much, how much.
So i thought this is a great forum to discuss this.
How would YOU work out the figures with the below property example:
1 bed flat - 150K - SW19 - 5 mins walk to mainline to central london.
Ok lets forget all the usual crap - lets say this property is a dream buy - it was on at 200k and you got it for 150k BARGAIN!!!!
So how do you work this out?
Mortgage value =
Deposit =
Rental value =
Maintenance reserve =
Fees etc =
and if there is anything else i have forgot.
Please let us know.
Thanks guys!!!
Dear Phoenix777,
You state that you have been doing research for quite sometime, then ask how to work out the figures. What research have you been doing?
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There has been no mention here of the fact that you have to pay CGT on gains but if you buy sovereigns all gains are exempt. So if you are planning to invest a lot in gold (likely to exceed your CGT allowance) then surely sovereigns are the way to go.
Given that there is a pecking order with gold bullion coins, which sovereigns are more desirable to purchase, new coins straight from the Royal Mint or older coins, as on the goldline website, for example, there are quite a few different types, decimal and pre-decimal coins ranging from £122 to 147, then there are the half sovereigns to consider as well.
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Jersey is a Crown dependency. No-one is going to stand in the way if the army turns up with an Act of Parliament saying the rules have been changed.
With what army?
However saying that, the police are quite tooled up these days and have had a dry run with the raiding of several safe deposit vaults in London.
http://www.thisislocallondon.co.uk/mostpop...ness_raided.php
Importantly, if your gold bullion is not sitting in a Jersey vault, but is in Switzerland how are they going to get it?
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Uber Bear food..... I've had so much of it in the last month i'm going to have to go on a diet
I suggest a strict diet of David Smith's Sunday Times articles.
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Jermy Clarkson's advice on saving fuel -
"Of course there are lots of things you can do to lessen the impact of spiralling fuel bills – all of which are dreary.
Weight is one issue. If you remove that rolled-up old carpet from your boot, you’ll be surprised at the impact it’ll have on your bills. You could go further and remove your spare wheel and jack too. Maybe you could even go on that diet you’ve been promising yourself. "
The link to the full article
http://driving.timesonline.co.uk/tol/life_...icle4176512.ece
I would thought that if you jettison the spare tyre and are going anymore than a few miles away from home, then you would want a can of emergency tyre foam in case of a puncture.
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I called Foxtons, Park Lane branch to arrange an appointment for a valuation of a property, I owned a few years ago, only to be asked how much was it worth. I replied that was for you to tell me.
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We haven't even seen the start of schadenfreude,
Property porn is turning to a dirtier side, the losers and their misery. The bigger the loss the better the viewing figures.
It will make great television.
Yes, I think will be seeing quite a few programmes about bailiffs, repossessions, property auctions etc
They can also dig out all those old Kilroy chav chat shows from the early 1990's about negative equity.
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(and no point talking more about Kirstie – she is obviously not very bright - she contradicts herself and spouts downright lies on several occasions in this talk)
Kirsty was on Question Time a little while ago and she came out with some amazing replies. Piers Morgan said that she had done well out of the house price boom, she tried to deny it and said that you could not sell where you lived, eh??? She tried to avoid the question and made a complete hash of it. So has Kirsty not bought any properties apart from her main residence? Surely not, if not what the feck is she doing dishing out advice on property.
However, she was KO when Chris Pattern stated with complete authority that the housing boom was over.
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In my opinion one should not panic buy, particularly when gold is shooting up, but to build up a stash by drip feeding into the market.
This following was a topic of a Money Morning email last week, 11/6/08, which pondered on the idea of Gold going to $6,250 and $8,500 an ounce based on inflation and the circumstances of the 1970's and now -
From the late ‘80s until now, that sleazy operator inflation barely got a mention, though we were living through two decades of never-before-seen money supply growth. Who cared? He was serenading stocks and houses and we were getting richer. “That’s nice,” we said, “but ssshh”.
But now the old cad has dumped poor, dear housing and stocks for a new lover: commodities – food, metals and energy – and polite society is outraged. “How could he?” we are all saying. And that’s part of the problem – the fact that we are all suddenly talking about inflation. The genie is out of the bag and it’s going to be impossible to get him back in.
That hasn’t prevented the world’s top central bankers from going on a concerted genie-suppressing effort. Bernanke, King and Trichet have all spoke out on the subject this week. But it is too late for that. Pandora’s Box has been opened.
In the long-term it does not matter what central bankers say. What matters is what they have done. Gold and oil are going to go a lot higher. But how high? I’ll tell you. Perhaps $8,500 for gold and $400 for oil.
Here’s why…
The first thing to note is that Federal Reserve chief Ben Bernanke’s words last week and again this week did send the gold price down. We must thank him for that – he’s given us another buying opportunity. As I said before, I still see $850 an ounce, or just below, as an obvious floor, and that is where I – and probably half the world’s hedge-funds – have placed my buy-orders.
Central bankers can’t talk down inflation
But despite all the rhetoric, nobody has actually done anything yet. Is Bernanke really going to raise rates by anything significant, just as we head into a derivatives crisis? Even my granny’s budgie knows you can’t raise rates when a business downturn is accelerating. Trichet’s hands are similarly tied. Despite the German terror of inflation, the problems in Spain, Ireland and Italy are just too pronounced. Mervyn King also seems to understand the inflationary danger we are in, but can you see him embarking on a major rate-raising cycle with the spectre of Gordon Brown breathing down his neck like some ghoulish character out of Lord Of The Rings?
So instead they are concentrating on ‘inflation expectations’ – the perception of the problem. But if your house is going down in value, if your salary is not rising, (indeed if your job is under threat), if your pension pot has emptied and your earnings are buying you less and less each year, it does not matter how loudly the central bankers shout about it - everything around you, from the wind in the trees to the traffic, will be screaming inflation.
How typical of today’s authorities to be more worried about the perception of inflation than inflation itself. It is like being more concerned about the employment numbers – or what people think of the employment numbers – than with the serious problem of unemployment. It shows the shallow world of soundbite and lazy policy in which we now live. Sooner or later it will come back and bite us all, but by then it will be too late.
Mark my words, inflation is about to accelerate as the authorities attempt to deal with this now-inevitable derivatives crisis. I would advise you to keep your eyes on the inflation train coming down the track, rather than the butterflies on the buddleia on the sidings that the central bankers would have you look at.
The next big bubble – and it ain’t commodities
Why, oh why would anyone buy a bond or a gilt? You might get yields of 3%, 4% or 5%, but the cost of living is patently rising by so much more than that. Virtually guaranteed to lose purchasing power, it just doesn’t make any sense.
So why are people buying them? It’s because bonds are perceived as safe. But I can’t help but think now that the inflation genie is out, more and more people will come to realise the truth about the declining purchasing power of their money and move their funds elsewhere.
There’s been endless talk of commodities being in a bubble. Oil is in a bubble, we hear. But supply has to exceed demand in a bubble. In the case of oil, it doesn't. Last February for the first time in the history of the world demand for oil exceeded production – that situation has remained the case for 90 days. But there is no supply shortage of bonds. And you have to question the real value and use of the underlying asset.
The bubble, if it’s anywhere, is in bonds and they, in my humble opinion, will be the next one to pop.
So how high will gold and oil go?
Well, history shows us what is possible.
The most obvious time to look to for parallels is the 1970s. Then the gold price went from the artificially suppressed price of $35 an ounce to $850. That is a rise of, give or take, 2,500%. A similar 2,500% rise from the artificially suppressed 1999 low of $250 would take us to $6,250. That is what happened before.
However, there are lots of differences between then and now: in those days interest rates were higher, the threat from derivatives was not as pronounced, debt was lower, there was not such a global crisis in banks, money supply growth was not so out of control, and crucially, Gordon Brown and Ben Bernanke were not in charge. So perhaps $6,250 is a little conservative.
Michael Hampton, who is the best trader I know, uses all sorts of cycles and technical indicators in his work and is continually looking for fractal (repeating) patterns. Among other things, he has what he calls his simple ‘ten for’ rule. Let me explain.
He argues that a 1970s dollar had about ten times the value of a 2000 vintage dollar. For example, the S&P averaged around 100 in the 1970s. It is over 1,000 this decade. Similarly the Dow averaged around 800-1,000, while for the Noughties that figure is around 10,000. Gold began the ‘70s at $35, it began the ‘00s at almost $300.
By the same reckoning, he argues that if gold went to $850 last time, it could spike to $8,500 this time.
He uses the same argument for oil. It went from low single-digits to $13 by the end of the 1974 oil crisis. Now oil has gone from $10 to over $130. By the end of the decade oil went from $13 to almost $40. So Mr Hampton, not unreasonably in my view, has a possible eventual target of $400 for oil (which he sees by 2012-13, by the way).
Some food for thought.
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The price of MK 2 Jags are down, like the last house price crash.
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It's right for the police to raid someone's safe deposit box if they are suspected of storing illegal or stolen items as with house searches with a court order etc. However, what is concerning is that the police have gone on a fishing trip and have opened all the boxes irrespective of whom it is being used by.
Stamp Duty Free Sale In Notting Hill
in Anecdotals
Posted · Edited by Take Me Back To London!
That entrance canopy tacked onto the front of Stebbing House looks ridiculous.