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About 50sQuiff

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  1. Thanks, appreciate it. Did they even consider the perverse incentives they might create, whereby businesses start reducing spend on advertising and so forth, in the UK? I don't think this has anything to do with whatever naive, ego-maniacal bumblers occupy Cabinet posts at a given moment. Their agenda - in this case - is set by Angela Knight and the OTS. She's the very definition of a banker's shill.
  2. Totally agree, DB. I don't subscribe to the "cockup" theory of history in British politics any more. These are hostile acts, conducted on behalf of multinationals (in this case). Their failure to prosecute overseas-based fraud as you describe, is also a form of hostile act in my view. After research, it seems my industry falls within the "out of scope" B2C exception for non-EU sales. Namely that the place of supply is always with my customer for non-EU transactions, regardless of whether they're a business or individual. This simply means I will redouble my efforts in North America and Asia, while neglecting to develop the business in my own country. Sad, but I have no intention of getting ensnared in this system. It's not worth the hassle to me, unless I get a truly massive EU contract.
  3. So, the committee pondering this for months couldn't figure out what we could within 10 seconds of reading the report? Perhaps. Or, this unaccountable group of VIs are pushing their multinational sponsors' agenda, and won't rest until they've crushed the throats of every vaguely independent citizen this country has left.
  4. The fact they're considering this - rather than increasing the threshold with inflation - proves once again that a state of war exists between the people and the Establishment in this country.
  5. 50sQuiff

    Are we on the brink of social collapse?

    Quite. The American Revolutionaries were complete fools too I'm sure, with their vague assertions of "taking back control" from King George. And what temerity to reject the diversity, security and prosperity of Empire!
  6. 50sQuiff

    Are we on the brink of social collapse?

    Christ. When did HPC become the domain of sub-Mumsnet hand-wringing harpies? The idea that it's in our long-term interest to be a self-governing nation shouldn't be controversial. Nor should WTO rules for a minority of international trade be overly concerning. I doubt the Empire-builders would have shirked such a modest challenge. But modern British discourse is dominated by effete, virtue-signalling Tarquins and Tamaras, who continue to re-litigate the referendum 18 months later. This is - in essence - a losing mentality, and not an edifying sight. But if it proves to be the psychological catalyst that finally breaks the housing market, Remoaners will have finally achieved something purposeful.
  7. 50sQuiff

    Is Ir Hike On It's Way

    A 0.1% retrenchment in prices after a continuous period of inflation (during a depression no less) does not make us "Japanese". This is caused PRIMARILY by an oil market repricing. This has absolutely nothing to do with monetary deflation WHATSOEVER. As I said, this #turningjapanese idea is pure nonsense. And if you don't think an IR hike (of any kind) isn't important for sentiment in the housing market, then you're losing the plot, KB. The BoE mandate is much much wider than inflation targeting. Stress tests explicitly referencing a HPC? Check. Comments about BTL systemic risk in the lead up to the Budget? Check. Testimony about curbing unproductive speculation to improve productivity? Check. Absolutely crystal clear telegraphing of an imminent rate rise? Check. BoE policy has been well aligned with Osborne's political agenda since Carney was appointed. The Budget loudly announced that the worm has turned: the Tories are inducing a HPC. We should expect the BoE to play a supporting role.
  8. 50sQuiff

    Is Ir Hike On It's Way

    Lot of good points KB, but all that matters is we get a hike, full stop. Small, singular - whatever. It will put the cat among the BTL pigeons. BoE have put their credibility on the chopping block once more. I say they follow through this time. I also think it's worth considering that Carney is a political appointee of George Osborne, and is likely to follow his political agenda. We had easing and pumping when GO wanted to win the election. Now GO is alarmed at under-35s voting for a dysfunctional Labour party en masse, based on housing inequality. They're both worried about our productivity, of which housing is a major factor, along with low IR-fuelled malinvestment. This was alluded to in the MPC comments I posted above. In other words, Osborne is now doing the right thing and very much aligned with the HPC agenda, so the stars align in 5 years time. Carney will do his duty.
  9. 50sQuiff

    Is Ir Hike On It's Way

    There's more to the mandate than inflation targeting, KB. Yes, they've heavily trailed a rate rise once before (as I see it) and chickened out. But to do it again after making such explicit statements would be too damaging for credibility surely? Anyway, based on today's BoE comments I'd say a BTL one-two punch is on the cards.
  10. 50sQuiff

    Is Ir Hike On It's Way

    Everyone's bought into the #turningjapanese nonsense I see. Miles: "A rise in rates is clearly coming and isn't a bad thing" Carney: "Wage data is firmer than we had expected" McCaffery: "Raising rates will cause a reallocation of capital to more productive sectors" Carney: "Interest rate normalisation will help productivity." Carney: "This will be the first time young people have seen rates go up" I think that's about as explicit as central bankers get.
  11. 50sQuiff

    Is Ir Hike On It's Way

    It's on. Carney and co just did everything but say a hike is coming in August. A knee to the groin of an already punch-drunk BTLer.
  12. Barclays are a market making member of the LBMA system so probably hold unallocated and allocated bullion for clients. As more institutions realise that unallocated gold is fractionally reserved with a leverage factor of at least 20x, the shift towards allocated will continue. Because it's not comingled this requires more segregated vault space and more actual metal.
  13. I don't think that's correct. We've barely had any price inflation to speak of since the 70s and early 80s. We have, however, had massive monetary inflation. In fact there has already been a hyperinflation of dollar-denominated paper assets globally. As sure as night follows day, price inflation will ensue as holders of this notional wealth scramble to convert it to 'real' wealth.
  14. Put it this way. The Fed just announced QE to infinity and gold took off like a rocket ship. Yet the dedicated gold thread pinned to the very top of the UK's most popular "tin foil hat" forum is absolutely dead as door nail. Must be that gold bubble euphoria!
  15. None of this is contingent on the Sheeple losing confidence in their numpty tokens. It's when the world's net producers - countries - decide it's time to stop saving their surplus capital in worthless bonds that can never be redeemed for real goods production. THAT is when the jig is up. In fact it's been up for a while now.

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