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Everything posted by whojamaflip

  1. swiss unemployment is 3.4% (feb 09) we have vacancies at my place that we cant fill, and i bet your field would be the same.. lower taxes, better heathca.. blah blah blah bleeeuughh
  2. have a look on ricardo.ch if you get from a german seller should not be any import duty (maybe).
  3. the "defacing legal tender" is banknotes. its illegal to destroy a banknote but not a coin.. a coin belongs to the person holding it, they can do what they want with it. a banknote belongs to the realm (or some other ponzi BS), so you're not supposed to destroy it.
  4. i bought in 1998 for 66k. was earning 19k at the time. 6k deposit, 60k mortgage.
  5. do they still have that s*****y glass office on old st? the one with the tramps sleeping outside..
  6. bear market rally... very dangerous... DOW 5000 a few more of these in the next 2-3years.
  7. not seen the memo but i understand he said something like "we had 19 billion of revenue and 6 billion of costs" which basically means 19billion fees, 6 billion staff costs etc. kind of ignores what banks do - price fees according to risks.. and for a bank that holds 2trillion of risky assets the 8 billion left over seems inadequate. he also seems to have triggered a bear market rally, that will come crashing down along with citi...
  8. Mr Rose is right. BOE now have an 'exemption' where they do not report QE (printing money) and they certainly are not reporting which assets they are buying (PFI bonds?? ) , they also do not report FX market intervention. my naive interpretation is that IF BOE were to buy a PFI bond with freshly printed money, BOTH liabilities disapear from the government balance sheet(??) the BOE just tear up the bond and M0 increases(???).
  9. oil $200 gold $2000 dow 15,000 s&p 2000 average uk house price 180k that will be down to inflation. not anything else.
  10. thx there is at these levels massive dislocation between paper and physical markets. think old ladies queuing up in hatton gardens... my understanding is that turkey (normally a big importer) is keeping the refiners busy with scrap being dumped on the market. you only need to look on ebay to see LOTS of old gold coming to market. once this gold gets vacuumed up, then gold will make another run.
  11. down, weak?? not sure which charts you chaps are looking at but a little volatilty cannot be read as weak. all good things come to those who wait, 'peak gold' aint coming for another two, maybe three years.
  12. http://www.telegraph.co.uk/finance/finance...cial-paper.html "In its first report on progress since the scheme opened, the Bank said on Friday that it bought £340m of three-month commercial paper in the week ending Thursday February 19. To put the figure in context the total amount of three-month commercial paper in issue is about £6bn. " the BOE sell "high grade" government paper, and buy "lower grade" corporate paper. The BOE obviously make a profit on the yield differential. The Quantatvive easing element starts when the commercial paper gets rolled, BOE will simply refinance the roll by printing money, and the mugs ..sorry investors who picked up the "high grade" government paper will be left holding the baby. assuming its all 90day paper then at the current rate thats just £5billion of easing, I would imagine it will need to be at least ten times that amount to make any impact. It will be interesting to watch the rates of govenment paper if this scheme picks up (ten or twentfold), as will what the FX market think of those freshly printed notes in 90days time (sorry 83 days time!!).
  13. bump. dunno who won the poll (I think "next month" is the winner), but the official date is today, that they started on friday.. Remarks at National Farmers’ Union Conference Birmingham, 16 February 2009 http://www.bankofengland.co.uk/publication...9/speech375.pdf "will purchase up to £50 billion worth of commercial paper, corporate bonds and similar securities," "The first purchase under this facility was made last Friday.
  14. bump. "The Asset Purchase Facility, operated by the Bank for the Government, will purchase up to £50 billion worth of commercial paper, corporate bonds and similar securities, with the aim of increasing the liquidity of these instruments, reducing the cost of capital to businesses and stimulating increased debt issuance." "The first purchase under this facility was made last Friday." http://www.bankofengland.co.uk/publication...9/speech375.pdf
  15. gold is no different from any other exchangable currency. the difference at the moment is that the BOE is happily printing more GBPs, however gold takes a little more effort to dig up (and the cost of that effort being quite nicely linked to inflation).
  16. dont tell me what you cant do. dont tell me what you can do. tell me what youve done. ok, tell me what you have done in the past 50 years. (I live in zurich, we get TGV & ICE) there is a bombadier train that goes to milan (same as british trains), and its really sh1t.
  17. in 'those days' the volatility was very low. this is not the case 'these days'.
  18. I have some very senior managers who are indian. these are very smart well educated people. however the indians who work in IT are not smart. my assumption is if you are (indian and) smart you aim high. if you are british and smart you take 100quid an hour contract IT jobs and ... well QED.
  19. read up what is happening in boracay (I have no idea, been there twice - nice place). the government can basically take land away from whoever it wants, then sell it back the previous owners AVOID!!!
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