whoami

You sound like you're desperately trying to convince yourself, Daddy. Reminds me of 'they aren't building enough houses' and 'house prices only ever go up' etc. Welcome to GD2 and five years of serious deflation. Got cash?

There you go Daddy, I've fixed your sig for you

Do what FFS???

Yeh, that makes a lot of sense. Get rid of the one thing that's going to go up in value over the next couple of years. You inflationistas are worse than house price rampers.

Nice. I can hear it now, 'House prices have fallen 25%, so we need to target house prices until they've risen 25% again.' What happened to 'a necessary correction'?

No offence, endgame, but I was hoping you were going to direct me to something more uplifting than the junior-school playground. Now if you'd called it 'Global deflationary sytemic collapse' in your title, I'd be with you. But you had to add a gold-ramping twist to an article that never mentioned 'global hyperinflation' from begining to end. On the other hand, if you'd omitted 'Global' and had said something like 'hyper-inflationary domino chain threatens Europe' I might not have argued. My point is that 'global hyperinflation' isn't possible, but regional hyperinflation (via monetary collapse) just about is (e.g. ask Asia).

'Global' and 'inflationary' are contradictions in terms. Both states can't co-exist in reality. Could you explain to us how you invented this whole new economic paradigm?

Shorts were just the early messengers that something was very stinky in HBOS's vault. And messengers always get shot.

Interest rates haven't got a hope in hell of going up. Not for a long time.

Nobody. See my previous post.

They will not be selling it 'into the market'. They have an agreement to sell it direct to central banks. The IMF does not hold any physical gold. Central banks simply assign a certain proportion of their own in-house vault stock to the IMF. The IMF is merely saying "You know that gold you promised to give us one rainy day? Well, we'd like you to wire us cash instead, is that OK?" I'm as sceptical of gold as the next person, but this whole thing is a non-story.

Stuff you want goes down. Stuff you need goes up. That's what happens in deflationary depressions - better get used to it.

On a technical point, Injin. I don't think you can have a rise in atheism. AIUI, atheism is not actually a belief in anything - it's a non-religious state. It would be more accurate to refer to a fall in theism - but then I suppose nobody would know what you were talking about.

Nice find 1929, good post. Some interesting thoughts in that article to add to the background mix.

GD1 was five years of strong deflation, followed by five years of strong inflation. Expect something similar this time round (hint - the deflation has already started).

That's what the Germans have been saying about the UK for the last ten years. Our 'GDP' was all fluff, paid for on plastic. Looks like they were right.

[shakes head] There's one born every minute

"The pace of economic decline is slowing. Housing sales are picking up, even if prices are falling. Credit markets have begun to thaw. This is the time-honoured pattern you expect to see when the downward spiral burns itself out and the cycle slowly starts to turn, helped this time by an unprecedented global monetary and fiscal blitz. But it may equally be a false dawn...." Telegraph: The first glimmers of hope are starting to emerge across the world, reports Ambrose Evans-Pritchard.

+1 At last, a grown up on HPC.

+1

I don't think you quite understand. Come back in five years and you might be lucky.

1. There's no evidence a Jubilee ever happened. 2. There's no likelihood it ever will. 3. Nobody here seems to have even a faint grip the 'Jubilee' concept... In debt terms, the point of a Jubilee was to prevent a dangerous or unfair build-up of excessive levels of debt (in modern terms, a 'debt bubble'). It works like this: a society agrees to establish a Jubliee year at an agreed number of years in the future, at which point any remaining debt may be defaulted on. If you hold a Jubilee every twenty-five years (say), lenders will then only lend up to twenty-four year terms in the first year, twenty-three-year terms in the second year, and so on. The idea was that once every 25 years, nobody would have any debt left and there would therefore be no debt to default on. In the twenty-sixth year the process would start all over again. The aim was to put a natural limit on the amount of debt that a society could accumulate and to prevent the kind of ridiculous situation we have today. It was not a get-out-of-jail-free card, quite the opposite. What you lot are talking about is nothing to do with a Jubilee (which requires society to work towards it, a set number of years in advance). You're talking about a straight forward debt-forgiveness/credit-theft/bankruptcy default/emergency reset - call it what you like but it ain't a Jubilee. :angry:

Note how the piece ends: "Notice how the big fear is that inflation will fall below 2 percent. How stupid can you get? The fear ought to have been about asset bubbles, speculation, and inflation, not low prices." Which is immediately followed by a "how to buy gold and silver online" ad.

Not if they have to nationalise RBS - potential UK foreign debt will rocket if they do. Which is probably why they'll wriggle and squirm and do anything not to.

The html addresses you quote are identical to ones in an email I got from NS&I back in November. My emails come to a special address supplied only to NS&I when I opened my account, so I'm happy that my emails are genuine.