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Everything posted by bootfair

  1. Well this is what I'm thinking, if they sell back the assets at a low price, then the plan to suck back the QE money won't work... there will still be the cash in the system... the difference between what they bought it for and what they can sell it for will still be sloshing around in the system won't it... It doesn't sound so cunning to me....
  2. The cunning plan, outlined in more detail in the paper version of the mail states the Bank will "easily" avoid inflation by reselling the "financial assets" that the Bank will buy via Quantitative Easing, "BACK TO THE PRIVATE SECTOR". Now can someone tell me why, having dumped these "financial assets" on the tax payer, for much more than they were worth, and now breathing a huge sigh of relief, the PRIVATE sector would want to buy them back, ever, even in the glimmer of hope of a recovery. Im sure, as a financial illiterate I am missing something..can someone please reassure me there is no fatal flaw in Mr Beans Cunning Plan to avoid inflation. QUOTE: (ONLINE VERSION) Writing in the Daily Mail, Deputy Governor Charlie Bean says the Bank will 'easily' be able to prevent a new bout of runaway price rises by reselling the assets it plans to buy with the fresh cash. 'As the economy recovers, so we will probably need to remove some of the extra money in order to ensure that inflation does not pick up too much,' he says. http://www.dailymail.co.uk/news/article-11...Bank-chief.html
  3. Its a VILLA goddamit- a VILLA! (is that a special EA name for a place where villains live?)
  4. Nice try, but yours lacks the architectual finesse of the OPs urban dwelling. Note particularly the specially designed windows (designed to offer the smallest possible target area for the local brick-throwers.).
  5. Sorry but can I just say HA HA HA HA HA... the same AVIVA that took over Resolution Phoenix? and Norwich Union... That have paid me £35 bonus on £500 per year investment... That promised us some of the money back, if only we hang on... actually gave some money to NU holders = so long as they signed away their rights to future profits.... And now despite all their lossses are still going to pay the full dividend to shareholders... so I wonder who will bear the brunt of that again, not the silly old policy holders again surely.... Cashed out of them in October... Thanks HPC. Good RIddance Aviva!
  6. To paraphrase Orwell, - you can love your country without loving your gvt.!
  7. its here already... http://www.dailymail.co.uk/news/article-53...t-want-job.html
  8. Hopefully people will realise the fatal flaw with trying to get anywhere on "imaginary petrol". Lets hope in 6 months time they are not telling us how we can fill our stomachs on "imaginary food"...
  9. Well from the ground here, there has been a full page "sell your scrap gold to us" ad in the local rag for about a month (maybe more) now. There is a stall set up in the shopping centre to take it... And one very surreal experience on late night TV a few months ago - an advert to buy scrap gold. Of course, these people are probably underpaying for it. Perhaps just taking advantage of people desperate for a bit of cash. But, if true, what would a huge scrap market do to POG long term. Will miners decrease production, or go out of production, leading (eventually) to higher prices? Or will the scrap flood the market bringing POG down? EDITED TO ADD: Coincidentally programme is about to start about "Gold Parties" held in homes in California... "Turning away from stocks and shares Americans are now trading trinkets with each other" - World Today on World Service 4:10 am....ish...
  10. I'm with EDM on this, a couple a weeks a least - (But I disagree with the possible low of $480...) But for different reasons..Yesterday/Today big losses in the markets. Gold being sold to cover those and also in sheer panic I think...no-one wants to let money leave their hands today... ..after that, with their Pensions and incomes utterly destroyed who is going to want to dabble in stocks for a long while.. Now of course China, Russia (the commodity online page has links to an article claiming Russia are looking to increase reserves) eclipse the little man on the street...but there is also a lot of little men on that street.. This is, of course, the financially illiterate interpretation of things.. total guess - gold back up to $950 easily within 2 weeks, no lower than $800. Advice to be taken only if you want to be as poor as me http://www.commodityonline.com/news/Will-R...-15486-3-1.html
  11. Marks out of 10 for how well they performed showing people round. What is wrong with people, Why oh why oh why do they want to be patronised by some tit off the telly..
  12. As currencies collapse farmers that remain in business will export to the country that pays the best. Good job the UK has such sound fundamentals.
  13. A bit OT but these are giving 6% 1yr fixed on a current account up to £2,500 balance. After that i think its quite a small interest rate paid... Plus £100 if you switch direct debits...(as long as you are not currently/recently a Santander customer) You have to have transactional activity of £500 per month - ie you can put £500 in and take it out again so you don't go over the £2,5k for too long. this activity does not all have to be in one go, so long as there is a £500 movement in your account each month... You lose £5 for any month you forget to do this (oops!) http://www.alliance-leicester.co.uk/curren...nt-account.aspx As always, DYOR, this post is for entertainment purposes only and does not constitute endorsement for any product, or financial advice...
  14. Thanks, like all good stories then, the one above has a base in truth, but the article is about ordinary citizens buying gold, which they traditionally do anyway, hmmm still a long way from the Chinese gvt buying gold to back their currency. However, the Chinese are well into assets. While we were flogging financial services, they were building factories..my (financially illiterate) gut feeling says they will not want to "race to the bottom" in a global new deal (apparently the global New World Order is postponed now in favour of the friendlier sounding Global New Deal...)
  15. oh well gotta hand it to them, is a cut above the usual ramping story.
  16. It looks like a double top... was reading about htis just the other day.. apparently it peaks, drops, stuggles to get back up to the first peak but cannot acheive same volumes... ....then it crashes and burns...
  17. It was Housing Bear - in reply to you, thats where i got confused: Ive edited original post to make it clear it wasn't you said it. Housing Bear said: Well said, EDM! I spent yesterday evening with the director of one of the largest bullion dealers in the US. The main buyers of gold, at the moment, are central banks of China and Russia. China wants a gold backed currency and is committed to buy tonnes of gold for many years. This is no specualtive bubble, as some seem to suggest. This is mainly large central banks buying gold with cash, not for speculative purposes, but to support their currencies! Best wishes. HB.
  18. Sorry EM I totally put words in your mouth regarding the chinese buying gold! Searched the thread and cannot find any mention of it at all, let alone by you, don't know where I got that from...
  19. I read all your arguments on Bonds...as someone with no previous interest of knowlege of economics/finance it was extremely helpful. But it appears to me that the inflation index the returns are based on is too flexible, and does not neccesarily reflect inflation as we might experience it on the ground.. ie the Bonds might well protect against inflation in car stereos, but not neccessarily the more essential bags of rice... However in that thread, you stated that you spoke to a Bullion dealer who says China is buying up massses of gold to back their currency, and this is also the case with some other places... For gods sake someone tell the Chinese they need to get bonds! When people in the street start talking, and stalls in shopping centres are set up to buy scrap gold... As you say at this point the fundamentals don't really matter... same as house prices.. once the herd get going the price will go up, just as you also say, may go down very very quickly too... everyone is spooked... EDITED TO ADD: EDM did not say he spoke to a Bullion dealer..it was another poster. My bad..
  20. you can check daily the gold holdings report from the vaults. The vaults are all run by separate company...which is based in Switzerland, its Brinks Via I think having been changed from Brinks Mat, due to concerns about them being based in US The individual holders, as well as having their own account can also look up the holdings allocated to them personally as reported by the Vault. This holding reported only in their chosen nickname is public so if you wanted you could add up all the individual holdings in a vault, and check them against the daily vault report. Any money in the account goes through Lloyds. BV make it very plain that your Property is your gold and cannot be touched, your assets is your cash and is subject to the bank. BV claim to have capitalised themselves so that they can operate for 4 years without any revenue at all.
  21. How long will it be before a mortgagee in the UK figures this one out and asks their bank to "show the note".
  22. Lol my ass off, nah That is the same one!!! They put them prices up quick...
  23. No, because I was saying 50% share , and I didnt' want to argue with someone saying, no I don't hoover/cook/clean/shop/clean up puke but I DO mow the lawn.. Not because it's "mens' work" but simply because mowing the lawn and washing the car once a week does not equate to a 50% share of the housework. No one said mowing the lawn and doing the garden is "mens" work, I do both those, and more, myself! But if 2 people work full time then mowing the lawn and thinking thats it, doesnt cut it.. But your example is of women working part time - I was talking solely about women who work FULL time.. Yes obviously if one person works less hours than the other they can take on more of the duties! As for being up a ladder, you make me laugh!! I fixed up my last place on my own. t
  24. Good for you (and your wife).. Although it hasn't been unknown for men to think they're doing half, but the women to disagree... Essentially though we are coming from the same place here... I totally agree its an oversold dream that has actually destroyed choice for many people.
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