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Everything posted by bottletop

  1. “One of these was for £450,000 in March. This we accepted, having realised that it was a realistic, reasonable figure. Meanwhile, I'd found the house of my dreams nearby in East Sheen at a price of £750,000 and put in an offer. But just before our buyers were about to exchange they demanded £35,000 off because of the market.” Determined not to have her chain fall through, she went to the vendors of the bigger house she wanted and asked for the equivalent percentage off. “They were thinking about it but the next day our buyers came back and said they'd found somewhere else in Putney so dropped out anyway Sounds like her buyers wanted 7.7% off, or 35k she goes up the chain and asks for 7.7% off them, or nearly 58k. They shouldn't have needed to think about it overnight....2 words would have sufficed I'd drop the price of my 100k house by 99% if only someone selling a million pound house would kindly do the same.
  2. been making wine for a couple of years now. Had some fantastic ones and the odd paintstripper but well worth doing Can definitely recommend C.J. Berry's book. My favourite is probably a cherry - 6lbs cherrys, one large handful of sultanas, a bag of sugar to start then more later in the secondary fermention if the yeast can handle it. One week in a cloth covered bucket with the yeast, then into a demi john. Raspberry (and raspberry mead) has proved popular with the neighbours, strawberry, plum, elderberries, blackberries. all good...and the list of potential fruit to try is endless. I even made wine with cheap bags of frozen "black forest fruit" from Iceland. A good wine making forum: http://www.homewinemaking.co.uk/cgi/yabb/YaBB.cgi
  3. this should be required viewing for all economists: flash
  4. All gold is VAT free, but only sovereigns and brittanias are capital gains tax free. If gold does go to the moon, after paying 40% CGT, you may find yourself only in a low earth orbit. I didn't pay much attention to that when I started buying gold. Now I would happily pay 5% or so extra now for sovs/brits to avoid a 40% rogering later on. edit: beaten
  5. But the US imports 50% if their oil needs and has no foreign cuurency reserves to speak of. The day they default no foreign oil will be shipped to the US.
  6. A quick heads up for the money programme on BBC Friday 13th June at 7pm... about Gold "While other sectors of the economy are in turmoil, the price of gold has quadrupled in the last ten years. The Money Programme's Max Flint travels to the gold mines of Nevada and the souks of Dubai to find out why. He meets the investors who are converting their savings into gold and puts to the test claims that it even improves your complexion. Gold has always been seen as a safe bet in times of financial woe. With reports suggesting that a recession is looming, there's never been a better time to examine the eternal allure of gold"
  7. What amazed me was the woman in the process of being repossessed. I'm sure Vine said she started missing payments from day 1. Nice silver Golf GTi in the drive Then interviewed sitting on the grass she admitted that she should have paid a little more attention to what she was signing on for.... Costly mistake that. Hopefully when she's handed the house back and had the car repossessed and spent a few years clawing her way back to zero she'll remember to read the small print next time and spend 5 minutes in the company of a calculator. Always helps.
  8. I just decided to look into credit unions after reading your post. What a rip off "Clockwise" in Leicester appears to be ISA rate not too shabby at 5.5%...that's fair enough. BUT: Savings rate (i.e. the dividend) is a measly 2%. Jokers. From their website: Loans outweighing the deposits then? Not as bad as the main banks but given the APR on loans vs interest on savings they must be raking it in. They pay 18k a year interst (2% on 900k) and rake in 250k interest on the loans (guessing the average APR is 20% for all loans). Nice work if you can get it. So where does all the money go? Looks like the banks win the day on economies of scale, savings rates, and unsecure loan rates. Shame as I would have considered transferring some money there but that is just piss poor basically.
  9. Is that the ECB sending out gentle signals to oil producing countries that, even if the US doesn't, the euro values stability and wishes to be the next reserve currency? I think so. It will have to be a case of softly softly catchee monkey, as they would not wish to cause financial panic before they've had a chance to disgorge the excess dollars back to where they came from. But certainly over the next 5-10 years I would imagine the PTB in Europe want a bit of the "exhorbitant privelage" themselves.
  10. The company I work for has long-termers (ex civil servant MAFF employess) on final salary pensions and recent employees on the "crap" pension system (money purchase? or something like that) Union members have just had a vote to dump the final salary system in exchange for 20%ish pay rises. Good for me as I don't have a pension. Tough luck on the final salary guys, but at the end of the day you could argue my wages have been depressed by 20% for the last few years to top up their pensions.
  11. David Smith's grip of the economic situation is as flimsy as a Ford Sierra body panel, as his articles over the last year have shown. Perhaps he should take his rose tinted "$40 oil" spectacles off
  12. just been browsing the dailymash and came across this. WHEAT PRICE INCREASE FORETELLS GREAT DOOM THE price of a bushel of wheat rose yet again in the markets of Flanders yesterday presaging a monstrous tribulation and a grave rise in the price of mead, the Lord High Guardian of the King's Purse has warned. Sir Mervyne de Kinge professed himself aghast as news arrived from Ghent that merchants had exchanged on wheat for six gold florin a bushel, a price not usually seen in trade unless in association with the rare spices of the Orient. The noble lord forewarned that a time of privation would surely be visited on the kingdom, when the peasant would find himself cast from his wretched midden and the knight dispossessed of his estates by the grubby moneychangers of old Lombard Street. He said: “Extremeties of the climes have done for the harvest yet again, and giant sea serpents have dragged down the ships of those few mariners who would dare brave the waves to help us bake our daily bread. “Nor is it just the Isrealite who profits at this time, as you would expect, but the whole merchant class appears arraigned against us like the massed ranks of the Persians against King Leonidis at Thermopylae. “If there is not some sudden fall in price, a great plague spread by rats, or a new world discovered with bountiful supplies of grain and large fowl with which we can load our tables come Christmastide I fear we are all totally in the shitter. Again.” Sir Mervyne said a rise in the price of wheat would force up the rates of the money changers and plunge those squires who had foolishly bought their castles at inflated prices into penury and destitution. He added: “And those knaves who have speculatively bought so many castles purely to rent out to others, against the teachings of the Holy Book, verily I say, in God’s name they will be cast down into the fires of hell to burn for ever and ever. Amen.”
  13. With GB's mis-handling of the economy we are more likely to be facing a shallow grave than a shallow recession
  14. Instead, the report said, successive governments used the proceeds from oil and gas fields to keep public borrowing down rather than build up a fighting fund to tackle long-term problems such as the ageing of the population. "To a significant degree, the money has effectively been handed back to this and other generations since the early 1980s to spend or, in many cases, to invest in housing or other assets." Those two sentances quoted from the article sum it up for me. The oil wealth of this country was used to give the baby boomer generation tax cuts which they've now spent or "invested" in housing-as-pensions. The cake has been eaten, and there is no second helping. Expect a lot of angry boomers when they realise they scoffed their pensions in the 80s and now the cupboards' bare. I can't see heavily indebted 18-30 year old happily handing over 50% of their salaries in taxes to pay feckless boomers what they think they're due.
  15. quick anecdote: A girl I work with has an IO mortgage taken out about 18 months ago...her 2 year fix ends in november and the mortgage is about 100k. I was asking her whether she has a savings scheme in place to pay back the mortgage at some point. The reply? "I have £300 in an isa". F*** me. She found she had £50 left every month so decided she can afford a cleaner though, so that's alright then. She is also planning on selling at some point and using the equity she's built up as a deposit on her next place lol. She was saying she'll not be able to afford the SVR come november so will need to remortgage. I shall have to tell her she'll be lucky to find any IO mortgages come then, so she will have to switch to repayment or accept the SVR.
  16. According to bloomberg the US has agreed to limited sales of IMF gold: http://www.bloomberg.com/apps/news?pid=206...fer=commodities select quote from article: The Bush administration said it supported sales of as much as 12.9 million ounces, or about 401 metric tons That seems a pretty specific amount for sale, and is this why?: http://www.imf.org/external/np/exr/facts/gold.htm quote: The IMF holds 103.4 million ounces (3,217 metric tons) of gold at designated depositories. The IMF's total gold holdings are valued on its balance sheet at SDR 5.9 billion (about $9.2 billion) on the basis of historical cost. As of February 20, 2008, the IMF's holdings amounted to $95.2 billion (at then current market prices). A portion of these holdings were acquired since the Second Amendment of the IMF's Articles of Agreement in April 1978, amounting to 12.97 million ounces (403.3 metric tons), with a market value of $11.9 billion as of February 20, 2008. As noted below, this part of the Fund’s gold holdings is not subject to restitution to members. Reading further in the IMF article, the countries who put up the 2800+ tonnes of gold in the first place get to buy it back at the rate of 35 SDR's per ounce. None of that 2800 tonnes will ever see the market...why would it when it can be bought back by its original owners at it's 1975 price. One tenth of its current price: "The Articles also provide for the restitution of the gold the Fund held on the date of the Second Amendment to members of the Fund as of August 31, 1975. Restitution would involve the sale of gold to this group of members at the former official price of SDR 35 per ounce, with such sales made to those members who agree to buy it in proportion to their quotas on the date of the Second Amendment" So in fact the IMF holding of 2800 tonnes is only woth $9 billion to the IMF as that is how much they will receive for it.
  17. cos the gold in the earth wasn't created during the formation of the earth but during a supernova event some billion years previous? just a guess.
  18. They should sell the grabby little brats to gypsy slave traders and go on a long cruise with the money. That'll teach 'em
  19. mortgage overpaid by about 10 years. both myself and the other half could clear the remaining mortgage directly from our own savings should we wish to. my jobs secure for at least the next 3 years, the mrs is probably less secure but she is fed up with commuting 1h each way anyway. We both earn about the UK average salaries (give or take) and spend just one of them between us. So the loss of 1 income wouldn't affect our lifestyle at present
  20. Here's a small anecdotal: Mrs bottletop's cousin has exchanged contracts on the flat he's selling to a developer - he's the last seller in the block of 6 flats and the same developer has bought the other 5. The day before completion the developer calls a halt to proceedings: apparently he's got to sort out a new mortgage. Strikes me as a bit late for this as contracts have been exchanged and presumably deposits swapped, and the solicitor would have checked that a mortgage offer was in place before exchange. Obviously this has created a 5hitstorm up the chain, and it makes me wonder whether the mortgage company has got cold feet about this guy's borrowings and withdrawn the offer! My recommendation to mrs b's cousin was to proceed with his purchase to avoid litigation, nab the amateur developer's 10% deposit, and re-advertise the property using the developers money to pay the mortgage in the meantime. He has decided to wait and see. So we shall wait and see.
  21. Not that I know of...I should imagine there is very little demand for old silver coins outside of ebay. Perhaps if you have a coin dealer or junk shops in your area you could enquire whether they have a bucket of scrap coins, but I would have thought not.
  22. Well spotted. I must admit I just used the dates posted in the question without checking the dates myself. I also bought some old silver coins on ebay last year, though I managed to buy at £4.41 per ounce (£5.19 per ounce including postage). Just had to keep a beady eye open for the bargains. If anyone's interested, these are the actual silver content (in ounces) of UK coins 0.925 crown 0.8409 half crown 0.4205 florin 0.3364 shilling 0.0618 six pence 0.0895 three pence 0.042 0.5 crown 0.4546 half crown 0.2273 florin 0.1818 shilling 0.0909 six pence 0.0455 three pence 0.0227
  23. pre 1920 are .925 (sterling silver) 1920-1947 are 0.5 silver post 1947 are cheap metal tokens currency debasment at it's best
  24. perhaps he meant ocular. and he's missing the time he had a second eye
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