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General Congreve

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About General Congreve

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  1. You are right, it is difficult making little, most likely a negative return on your investments, thanks to the criminal policies of the BoE and their counterparts elsewhere in the world.
  2. Yeah, sorry to be the bearer of bad news. Just please don't shoot the messenger.
  3. If the banks go bust though, will those savers still have savings to spend into the economy? Surely their savings will just end up in the hands of the banks creditors, who will then be the ones who get first bite of the cherry on depreciated assets. In a way this forced sale, although unjust, will help bring house prices down. So in their efforts to keep 'asset prices' high, meaning houses of course, not all assets, the BoE are being self-defeating. As the inflation just squeezes people from the other side, as evidenced by the OP. Really it seems the prudent will now gets shafted either way. As if they let it all go bust savers lose all their money through bank collapse and if they print to stop it going bust, savers ultimately lose all their money via inflation.
  4. Well done CheeznBreed. The truth on the BBC!
  5. A house is fine as an asset. Anything over 16k in savings and no money for you. It's a sliding scale of benefit payments from there onwards.
  6. And no one can blame you or legions in your position for thinking like this. I'd do the same in your shoes and feel justified in doing so. Unfortunately this is a big part of the reason we are going down, down, down and there will be no recovery. Loose monetary policy will continue ad infinitum, sterling will continue its century long fiat nose dive and more wealth will be stolen from the people of Britain that actually still have a job or are still accumulating savings in a bank account.
  7. Never heard that, brilliant. Might have to borrow it.
  8. Hey Red Karma, off-topic, but in a thread yesterday someone mentioned a poster who used to have the signature: All goldbugs will get creamed for exactly the reason they think they won't Am I right in thinking that was you? I'm only asking because no one knew what the reason for being creamed was. If it is you could you just quickly clarify please, as it caused much fluster and debate. Many Thanks.
  9. I am all for Progressive taxation. Progressive taxation backed by sound money that is. No more printing to pay for commitments (to buy votes) that causes inflation that hits the poorest hardest. Good honest money that can't be printed and holds it value, a pound in one year is the same as a pound in the next, no more government theft from the population. Get rid of regressive taxes like fuel duty and VAT that penalise the lowest earners. Tax progressively according to wealth and income only and redistribute via good public services for all - schools, police, nurses and a unemployment benefits that keep people, clothed, fed and warm, but don't give people the incentive never to look after themselves again etc. But 98%, is just f4cking stupid. I mean, seriously! Mind you, it'd be another positive for gold (as the rich hide more assets off balance sheet), as it was in the 70's.
  10. Indeed. We live in interesting times. What many don't think about is how during the last gold/silver bull run it was just the West taking part. Now billions of Chinese and hundreds of millions, if not billions, of others from former communist countries and BRIC countries with newly-earned wealth are in on the act. So there is vastly more people competing for what is, per head, much less gold than back then (when you take account of mined gold and population growth since then). Not the most important reason, but a notable one for why this ship is going to the moon.
  11. You get the VAT back when you sell if you do it privately, say via ebay. So that's not necessarily a problem. Agreed that the premium on that bad boy doesn't make it the best way to buy silver. The bulk of any purchase should be boring old bullion, because you are buying for the silver value, not the notional value, so bullion should be your first port of call. But still, I think you'll agree it's a nice addition to top off somebody's otherwise ordinary collection. First time I've heard of one or seen one BTW. BTW, you haven't missed the silver boat, not a by a long shot. It's on the march again after it's correction, now is still a good time to buy as it's nudging $40/Oz this week, it'll be hitting $50/Oz again soon and then much further beyond. QE3 ended and surprise, surprise, despite those that claimed that would pole axe silver and gold, they held there ground and are advancing once more. I recommend King World News for info on gold and silver. It will really give you the picture on a lot of what lies behind the gold/silver story, but in a very concise bite-sized way. Most of that stuff that does get talked about here sooner or laterobviously, but it's a nice little news feed that gets updated with a short article or two every day or two, all in one place (site can be a little sluggish though). I recommend you read it for a week, you should find it very enlightening. Also take a look at this if you haven't seen it yet, the relatively straight bits are when we were on the gold standard, the rest is history and the future: That money in the bank isn't going to grow and they'll keep QEing and ZIRPing to keep house price nominally high, while debauching the currency. They have to, as the governments now owns a huge chunk of the mortgages in the UK now, via the bailed out banks. This story is only going one way.
  12. If you're on the right side of the tracks, pun intended, then all this extra waste and debt that is pushing the UK and the world closer to the edge of insolvency - well closer to the fact that our current insolvency will be totally apparent - is something to welcome, rather than curse. After all, there is little we can do about it.
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