whojamaflip
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Posts posted by whojamaflip
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While perusing cooksongold.com for reasons apparent in my other thread I noticed their 1kg silver bar seemed quite cheap: £422.80 including vat & insured postage which translates to 42.3% over spot. I wondered if there was something undesirable about this particular species of bar, but perhaps not: The Bullion Shop has the identical bar for £502 and www.qualitysilver.co.uk has it for 699.99 (what a scam). +42.3% is less than most prices paid on ebay, especially if you include postage.
So how about that then?
have a look on ricardo.ch if you get from a german seller should not be any import duty (maybe).
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toxic assets = PFI bonds
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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.
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i bought in 1998 for 66k. was earning 19k at the time.
6k deposit, 60k mortgage.
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do they still have that s*****y glass office on old st? the one with the tramps sleeping outside..
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Looks like the first part of this is going to come true ... I wonder whether the second part will?
bear market rally... very dangerous... DOW 5000
a few more of these in the next 2-3years.
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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...
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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(???).
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Difficult. Sometimes you have a deflationary boom, like 1982-1985, with a strong dollar, or you have an inflationary boom like 2003-2007, I think it's probably be inflationary and that gold will increase, but I think it will perhaps take a breather, oil gold is like 25, I think gold should go down, and oil up, if there is any logic to it.
I mean, maybe gold to 800 and oil to 50 dollars, then I suppose, later in the cycle, maybe oil could go back up towards 100-400 dollar and gold would follow. The latest moves in gold appears to be about fear.
oil $200
gold $2000
dow 15,000
s&p 2000
average uk house price 180k
that will be down to inflation. not anything else.
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It's a myth that there are more non-jobs in the public sector than the private sector. Pub landlords and bar staff are non-jobs, for example, since nobody needs to go to a pub! Anyone engaged in non-essential work (myself included) is vulnerable to non-job label, however hard they work.
its that fractal wrongness thing again
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READ MY LIPS
PRINTING MONEY IS DEFLATIONARY
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In the long run you are correct though, imo.
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.
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what capital base?
+1
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you need assets with a reasonably high value dentristy.
many smart people have told me you only need your teeth & your hair..
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i dont see a bottom
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Gold down to 959...the Cramer touchI think, the weakness in gold,
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.
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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!!).
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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.
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Just answered my own question- there's an article on MailOnline today saying that the BoE has been given the go-ahead by the Chancellor to "a £50 billion asset purchase mechanism".
Hold onto your seats. Here comes the high-powered money. And high interest rates in 12-18 months time when the Bank tries to take it back out of the system????
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
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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).
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I thought it was all to do with the distance between the signals and the breaking distance.
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.
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well, you are right, but at the same time, these trades (yen carry trade) were massively leveraged, as an individual, I am not sure how you can get that kind of exposure- I am not sure you would want to either.It was not usually a case of buying straight bonds, more likely to have been a currency swap that locks in the rates. From your average Joe's point of view, borrowing money from a bank in sterling (at say 5/6%), and investing it in a soverign bond would yield very little differential.
in 'those days' the volatility was very low. this is not the case 'these days'.
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Indeed. I've worked with developers from many nations and of many colours. The current bunch of Indians I'm working with aren't a patch on the British (of any colour), French and Germans I've worked with. Why? Who knows? Who cares? Doesn't change my opinion of them.
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.
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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!!!
Lost Job In Germany
in House prices and the economy
Posted
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