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House Price Crash Forum


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Everything posted by spoon

  1. $690 is nailed on, and $640 the next target after that. we are witnessing MAMMOTH destruction of wealth and asset price deflation in everything from commodities to aston martins.
  2. LIBOR being set artificially low is OLD news. Everyone knows it's been far too low for months now. The NEWS today is the threat of a BAN on banks from the panel chosen to set libor. Will libor rates shoot higher tomorrow? Yes but perhaps not as far as some think. Is losing your status on the BBA panel of contributing banks such a bad thing in the current climate? As a bank i wouldn't want to be under the scrutiny.
  3. Make sure you are able to set fresh longs at $775.
  4. This post is vomit-inducing. Stop regurgitating gold-bug tedium. Posting a list 'reasons' or worse still, weblinks, stating why gold is going to the moon is tiresome - we all know what they are and it's why we are here and not at $400.
  5. First, many do in fact get carried away by hysteria. Many will have decided to bite the bullet and set new longs at $1000. If you view gold as an option in your ASSET ALLOCATION strategy you're going to be ok. If you're TRADING gold, like I do, a $200 move can SHUT YOU DOWN.
  6. the message here is to imagine a price of $850 or $800. how does that make you feel? is that going to wipe you out? if so sell now...if not, do nothing.
  7. 1) Deleveraging will continue full steam ahead. That means some of the largest spec positions in gold being liquidated. 2) Lots of market participants have used this latest drop to reload including spec players and gold mining companies - not good. 3) Gold has recently shown a distinct inability to mount a rally without the support of equities, crude oil, or a falling dollar. 4) ALL asset valuations depend on two things - economic growth expectations and interest rates to discount that growth. both are heading the wrong way. the first lower, and the second higher. 5) gold is a tiny market.
  8. we're heading towards $850 and perhaps lower. i'm a long standing precious metal bull and stick to that long term view. we will see new all time highs. but before that get ready for $850 or lower. there's a lot of bullish mania here surrounding gold and you need to know the risks currently point to a LARGE DROP bigger than most here would care to entertain.
  9. i see the thread opener has irked a few folk. shares are routinely suspended in response to large and rapid price moves to guard against system glitches. and by the way i have no idea even now if the shares were suspended. i don't care actually and neither should anyone. fact is at one point the price was down sharply and my proximity to the markets allowed me to bring that news / rumour / perception to you way before sky news or any other news channel was running with it. markets don't respond to hard facts alone.
  10. ok so any objections to Northern Rock ? gilt edged 6% savings rates seem too good to be true.
  12. couldn't resist and anyway it's m thread - gold follows like clockwork....$1015 !
  13. The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores.
  14. EURUSD trading with a 1.57 handle and yet GBPUSD lower trading below 2.02. Astonishing move on a Sunday night. I wonder which UK bank is going down tomorrow?
  15. True but not very practical if you have several multiples of the 15k allowed per issue to invest.
  16. I agree this is an issue we need to think about. But I'm not sure one needs to exit fiat currency 100% in order to protect oneself - the alternatives do carry their own risk. The first stage for most investors i imagine is to find a SAFER place for their fiat cash and that is the topic of this thread.
  17. why do u say that? perhaps i'm a bit behind the game here. are you saying current NR depositors have to APPLY for their cash? or you mean the situation will be THAT dire once the number of Northern Rocks increases?
  18. I thought the limit on NS easy access was £2 million?
  19. I have a large sum invested in the Bank of Scotland (read Halifax) Reward Account. They offered a decent 6.30% back in Jan on 1yr fixed term savings with up to 4 penalty free withdrawals allowed. I agree it is unlikely that my stash might be under threat but i'd rather move to a safer place. I'm thinking of shifting the whole lot to National Savings Easy Access paying 4.65% gross.
  20. I am. I have a lump in HBOS and NATIONWIDE. Anyone else worried? It may turn out that my cash will eventually be guaranteed by the govt as per Northern Rock but i don't want to expend the mental capital on it. In any case nationalisation of the banks will devalue our cash holdings so it makes sense to diversify now. So what are the options and the pros and cons? 1) National savings 2) UK gilts 3) Northern Rock Any others? Pls lets keep gold out of this thread. I know it's going up and and i can take that view using my TRADING capital. This thread is relevant to all HPC-ers that have s
  21. Inter-day margin calls take care of counterparty risk hence business as usual...till now that is.
  22. All the investment banks have moved to credit crisis alert. Trading desks from Wall St to London are going to say NO to Bear Stearns come Monday. Shockingly, the Fed is the only bank to say YES.
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