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redprince

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About redprince

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    HPC Poster
  1. So now were moving on from banks runs to crop shortages. Maybe you could spend less time hypothesising on things that may never happen (and probably wont) and go and do sth useful!.
  2. And if you had read my previous posts you would have seen that i was not sneering at being precautionary and indeed have taken steps to preserve my purchasing power however my original point re scaremongering stands.The original point of this thread was what i was getting at - its the usual alarmist stuff with little or no substance purely for the sake of it.
  3. Yes it is shaky but the fact is that is it not the case that any bank, even a good one could be brought down by people mindlessly panicing and withdrawing their money?Without the people`s money they cannot do business.Therefore to keep talking of such events merely encourages irresponsibility. Its pointless.
  4. No i didn`t say you shouldn`t spread your wealth around - its prudent to do that in some form or fashion if only to protect your purchasing power against a falling currency in times like these. I was simply stating the case against unfounded scaremongering on websites.If everyone started to think like that you would create a bank run based on irrational fear.
  5. I have presented the case for why it is extremely unlikely to happen despite the state the banks are in.I have given my reasons for saying this.You chose to ignore them but dont make out you weren`t given the argument for no bank run.
  6. As i said the only place that that a bank run will happen is in the heads of those who have too much time on their hands and spend too much of it on here.
  7. If we have a bank run then your cash isnt going to cut it. There is NO DANGER of a bank run leading to bank collapse - only in the heads of some people on this website who have too much free time on their handS!
  8. While i can understand your concerns you have to see that there is hardly any risk of a bank failing and you losing your cash. They simply could not let that happen otherwise there would be a run on every bank and that would be it - over. Fact is that they will put as much money into the banks as they need to- its what will your money be worth long term, that is imo the real question. However like most here, we are all looking at our money`s purchasing power relative to one asset - property. Fwiw- i have topped up on a lovely little gold prospector company! GL anyway.
  9. I don`t know why you wrote the above.Houseprices in my area are not yet imo good value but are getting there.I intend to buy in the near future. While stupidly high hp`s have caused immemnse dmamge to the economy and people`s lives it really boils down to keeping a level head.I didn`t buy years ago because they were too expensive.I am waiting and wont necessarily wait for the "bottom" as i want to get on with my life. UK has got social issues for sure, but so does many other places.People will learn to be grateful for what work they can find and our benefits sytem will be overhauled as neither the money nor the political will is there to keep it going. We will go back to common sense,an aversion for political correctness and hopefully appropriate punishment for serious crime. I have no desire to live anywhere else.Far away fields and all that.
  10. My understanding of QE is the BOE buys mortgage debt from banks in exchange for electronic credits to the banks` balance sheets. The banks are meant to repurchase this mortgage debt later on - so my question is are they doing this or is this just becoming another credit cycle after credit cycle?
  11. My understanding of QE is the BOE buys mortgage debt from banks in exchange for electronic credits to the banks` balance sheets. The banks are meant to repurchase this mortgage debt later on - so my question is are they doing this or is this just becoming another credit cycle after credit cycle?
  12. Guys - just wanted to update you on the above.As far as i was concerned the above scenario was a done deal and even though it never added up to me, that inside two weeks of my offer (the only one they had) someone came in £30k higher.Funnily enough the house reappeared on propertynews.com this week again!! Seems my EA had received another one of those "offers" that, well you know didn`t have the moolah to support it! Oh well my original offer doesn`t stand now anyway - and good job too from my perspective.Not so good from the EA`s perspective.
  13. The executive have two main parties who have largely been elected on tribal grounds - they are all completely unwilling to face reality because once the truth comes out they are going to face such a backlash fron Joe Public that will force them to take some personal pain and actually take paycuts themselves.Every month that they can delay the unavoidable day of trth is another month of full salary and expenses. NI is frankly facing a kicking in terms of us having to reduce our public sector wagebill and the Stormont executive do not have the experience to deal with this.Almost every public commentator on this have really skirted the issue.The reports from banks,building socieities and public bodies are trying to gloss over the very real contraction that is coming. I am seeing hp reductions in my own area and it hasn`t even got going yet. There is only so long Stormont can carry on trying to fool the public.
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