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dr ray

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Everything posted by dr ray

  1. Have you read what you have written. By your own calculations if you had 100 one ounce real gold coins and 100 fake ones and you plonked them in a glass of water the difference in displacement would only be 1ml. You would need at least 1000 of each coin type (£1,400,000 worth if the tested ones were real) for the difference to be detectible using a (very large) glass of water. OK I read your post again and I don't think you are suggesting measuring displaced volume but difference in weight in and out of water.
  2. Maybe but we can't force our colonies to buy our stuff any more so we will be competing on quality and price. I don't think we have an advantage on quality and the pound would need to lose 90% of its value relative to the Rupee before we can compete on price. Could happened but then no one would be able to afford to travel to work any more as fuel would cost £60/gallon
  3. This should be a useful discussion on here but hasn't attracted many postings. On a mundane level the choices ar dificult to read on a pale background. A more fundamental problem is that the best option IMO is to not put your eggs in one basket. Betting it all on a horse may be the quickest way to make a fortune but when trying to preserve wealth it is best to back several horses. Personally I have bank deposits in the UK and offshore in stirling and euro, property in UK and Europe, stocks (mainly in UK companies with overseas earnings), gold coins, index linked deposits in stirling, index linked employer pension, stakeholder pension, private pension, PEP/ISA, VCTs and money lent out on ZOPA. Most of my assets are being transferred to my wife and children so that the chancellor can go and spin on it when wealth taxes are imposed
  4. The dossers use the children as a "human shield". Do anything to the adults and the kid gets it. There was a vogue of taking the kids off them and sending the kids to Australia but this wasn't very popular I gather. Nowadays everyone bends over backwards to keep the kids with the families even if they are at documented risk of being murdered or abused.
  5. When I qualified in the 80s gynacologists would try to persuade such women to be sterilised after their 4th or 5th child or abortion. They later claimed they were put under undue pressure and that their human rights to have children had been infringed and thousands of women had the sterilisations reversed on the NHS and claimed compensation. Until someone has the courage to stand up and stay that poverty and living in a cardboard box is a human right we are not going to resolve this.
  6. Just be grateful the money you and your decendants are spending on reduced VAT, QE and car scrappage is finally working (for Japanese exports).
  7. Someone posted on this forum about 4 months ago about buying a Krug which didn't ring true and got his money back from the dealer. All the more reason to stick to familiar coins IMO. The bars are easy enough to weigh but working out the volume and hence density is not so easy.
  8. Give the guy a break. Don't you know how much it costs to have all the door knobs moved so that he can reach them and have the legs shortened on all the chairs so that his feet reach the floor.
  9. He'll convince them that the money has no value anyway so its not worth making the effort to recover it
  10. You don't need savings for QE to be inflationary. QE has suppressed interest rates on borrowing and saving. The borrowers are able to spend that money on something else and the savers go chasing up the prices of assets because money in the bank is earning next to nothing.
  11. Nah. There's no inflation. RPI is negative isn't it The rise in oil, sugar, cocoa, wheat, gold and stocks is just statistical noise.
  12. This guy worked in vehicle licencing. I would have thought this was a prime public sector asset to transfer to the private sector. Unfortunately all this will do is make a lot of money for the banks that handle the sale, a lot of money for the directors, a lot of the employees redundant or dumbed down and a relentless increase in costs on the consumer. If it goes bust the taxpayer will take it all back and pick up the pieces. It still wont export anything. Some industries are just not geared to exports but still necessary.
  13. I don't condone what he did but the irony is that he is presumably claiming unemployment benefits now rather than paying taxes. As an aside the reporting seems to be a bit lightweight. You don't get a car with DLA. You need to be on higher rate mobility allowance and then you can chose a car instead of money. I really don't understand how this can go unnoticed in this day and age. Anyone checking his NI number would have been able to check his income. Its not as if he was tarmacing drives for cash or running a BTL empire like the woman in Hove.
  14. Don't get Injin started on this. He has just debated this over about 60 pages.I think you will have the goldbugs swarming all over this too. The whole point of a centrally controlled currency is that it is centrally controlled. The only way to avoid this is to let people chose their own currency and keep the government out of it but I can't see that happening because the government needs to either tax or enslave the population to continue.
  15. They didn't reduce it to 18%. They took away taper relief and indexation allowance and, for most people (eg folk selling their business to retire) increased it from 0 to 18%. It was always going to be a two stepped con. Now they will increase it to 30% or so and gullible morons will think it is still less than it was before. In fact, as Ken points out. If you sell an investment which has just kept pace with inflation you will now pay tax on the inflation. You will even pay tax if it has lost you money after accounting for inflation if it has increased in nominal, subinflation terms. One born every minute. And you wonder how Gordon Brown got away with it so long.
  16. OK I agree its a mania and a bubble. Both terms are derogatory and the term bubble suggests a burst at some stage. What we have is the nearest to universal, global and permanent mania that it is possible to achieve and while my interactions in the forseeable future are likely to be with humans rather than Martians that suits me just fine. I think we are in agreement Injin. BTW I thought your argument that money is not stored labour because digging a hole does not make you richer is wrong. You are confusing leisure (ie gardening) with employment. You dont expect to be paid for leisure even if it involves physical activity and some labour doesn't involve phyical activity at all. Being able to assess risk and gambling profitably is labour and very well paid.
  17. I didn't say no one wants it and there is zero demand. In fact it is almost unique in that all over the world, for millenia, everyone has wanted it That is what gives it value <dives for cover> Edit to add BTW I agree gold is a bubble and its value is only what people believe its worth. This has been the case for 5000 years or more and as long as it carries on for another 30 years or so I'll be satisfied. I agree with the folks who think that the gold bubble has run its course after 5000 years that it would be sensible insurance to protect their wealth by other means. Personally I think the odds are still in golds favour.
  18. I'm amazed this thread is still going. The arguement that gold is no good as money because it is useless is wrong. Being useless is one attribute it needs to use as money. You couldn't use oil because it is continuously being used up and the demand for it varies due to industrial processes. Even in my lifetime diesel was being sprayed on the Sahara to stabilise the sand . Gold has one use which makes it suitable for use as money and that is that it is used as money. You don't need to find other uses for it.
  19. I don't think the expectation is that it would happen within the same generation. The problem with Thach is that she didn't go far enough. Allowing dinosaur industries to fail is a necessity but supporting the workers to a degree where they don't need to do anything to survive at a basic level stifles the innovation and resourcefulness which all humans have. There is a story I think told by Adam Smith of the village idiot being employed to move a lever back and forth on a very early steam engine. After a while he worked out that if he attached a piece of string to the lever and tied the other end to the rocking beam the machine would move the lever back and forth automatically - something the inventor hadn't worked out because he was not the one having to pull the lever all day. The folks on the sink estates use their ingenuity to break into cars and defraud the benefits system - something most of us haven't the skills to do. In a way the system is allowing a misallocation of ingenuity
  20. We need this sort of thing now and then to remind us that once we hand money over to a financial institution it is theirs not ours. They chose when and how much we can have back as it suits them.
  21. We argued this already. Religeous relics are a delusion. They are only of value because people think they are (or were conned by the Knights Templar who ammassed great wealth - gold- by selling them and even established fiat currency so that the buyers could buy the relics without carrying large amounts of gold with them). Gold (and fiat to a limited degree) however has a utility as a means of exchange so is not a completely useless substance that someone has ascribed a value to . I'm not saying the value is constant but it is more constant than the alternatives as discovered by trail and error over thousands of years
  22. I guessed you would answer it like this as I wrote it. I agree but one has to be pragmatic. I own a car and the dog sh1t on my lawn but I would want the courts to prosecute someone more severely for taking my car so we must have a system of assigning values which everyone, more or less, agrees with. The finding of that value is through exchange so that it doesn't matter how much dog sh1t I have I would not be able to exchange it for a car but if I had a racehorse I might be able to exchange it if the other person wanted a horse. To make things easier money comes into the system so that I don't need to find someone with a spare car who needs a horse at the same point in time because both can be valued relative to money and that money can be stored and used as needed. I think we all know what we mean by stored value Injin and you are being pedantic
  23. It would be a good defence against shoplifting. If something has no value can you be prosecuted for stealing it? If the value is what the shopowner has priced it at can you claim it is only his opinion and therefore not real.
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