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House Price Crash Forum

burntgreenfinger

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About burntgreenfinger

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    HPC Newbie
  1. I think you are on the right track here. Any spare cash looking for yield or just even wealth preservation goes into hard assets. However it would not surprise me if we ended up with a Land Value Taxation in the future and gold confiscation. We can't have people trying to free themselves from the system now can we. My bet would be oil, silver and Alt A
  2. Just to visualise A 2 trillion dollars is a line of $1000 dollar bills; placed on their side ( thinest edge) and stretching for 120 miles!
  3. I guess you would. Just one person!! ****Watch this video*****
  4. Would you enter yourself into the lottery for the good of humanity? You have a 1 in 6.5 chance that you will be chosen and wiped; fancy those odds? Or do you think that someone else's life is worth less than yours?
  5. One thousand barrels a second - it ain't gonna to be cheap again - get over it. The count down to economic catastrophe has begun. Are we protected? Doubt it!
  6. Thanks for replying. I think that silver at these historically low prices constitutes pretty good value for holding in the medium term
  7. In the early 1920's a reasonable weekly wage was around £2 per week. Correct me if I'm wrong but I think this would have been 40 shillings or 8 crowns. If crowns are roughly 1 oz of silver and silver currently is £8.50 in todays prices £8.50 per oz * 8 = £68.00 An average wage is now about £400. That would buy you 47 oz of silver (6 x the amount in the 1920's) Is it the case that silver is now historically incredibly cheap or that people 90 years ago could live off F*** all? I'm sure that our great grandparents would regard silver, at this price, as being the deal of the century. Any thoughts?
  8. No problem with a spoiled vote in my book. Could you imagine if all the people, who are weary with politics and just couldn't be bothered to vote anymore, actually went to their polling stations, did their public duty and spoiled their votes! Love to see that on a swingometer!
  9. Completely agree with this. Most journalists just response to the propaganda they are feed, they just reflect sentiment.
  10. Didn't it used to be 2 1/2 times joint income? Perhaps my aversion to risk is too high. It would take 16 years of net income to pay back this amount including the interest. That's quite wildly excessive in my book. Mind you there's always hyperinflation to eroded that kind of debt.
  11. IMHO it will be debt. I think we are reaching our limits to economic growth due to issues regarding resource depletion. In the first instance energy. We have collecteively borrowed in the belief that we have limitless energy to sustain economic growth far off into the future. In most cases a 25 year debt is a gamble that you can guarantee the acquistion of this money into the future (plus all that lovely interest for the banks). People generally do not see it like this. Just as a fact finding mission i visited HBOS about 13 months ago I was offered a £320K mortgage. My wife and I earn net £58k Spread over 25 years that's nearly a million £ to pay back! I didn't take up tha bank's kind offer. But you can bet that there were plenty who did. There will come a time when this amount of debt, on these fundamentals, will engulf you.
  12. Sold off my shares about a year ago and put my money into High Interest accounts. After credit crunch, Northern Rock fall out and seeing inflation on the horizon decided that Index Linked Gilts would at least preserve most of my capital. Now we get Gordo lending these out to the banks. Is nowhere safe? Am I going to be forced into buying commodities to protect my capital? :angry:
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