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House Price Crash Forum

FaTB

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  1. Don't post on here often these days, but it was this site that got me interested in the subject of money creation / fractional reserve banking / gold in the first place. I saw this debate on TV yesterday purely by accident, and I think it could be an important step forward. So all credit to Steve Baker MP for getting it on the agenda. Here are a few of my observations. * How can such a fundamentally important subject as who creates our money and how be left for 170 years without debate ?? * Why has it taken 6 / 7 years since the biggest financial meltdown in a century to get round to this debate ?? * The tiny number of MP's in the house for such an important debate annoyed me, as did that lump Dianne Abbot playing with her phone throughout !! * I would guess that 95% of MP's are no more clued up about how money is created / Fractional reserve banking / Golds place or not in the system, than most of the general public, which is probably why there is the lack of interest. * It's going to be a long hard road to raise awareness, unless we have another financial meltdown in the meantime, where MP's will have to learn fast and make some very difficult decisions, as lets face it the time for easy decisions is gone. *The next crisis will overwhelm not just companies and banks, but countries and central banks.
  2. I think you're missing the point. The idea is to buy now, to preserve your purchasing power. If there is a currency collapse and your pieces of paper are worth more as bog roll or fuel to keep you warm you have left it too late, and you won't be able to buy gold or food with it. If your paper money is worth NOTHING, then the price of gold in that currency is infinity not $8000 or $10000 an ounce. Don't think of it as gold going up in value, think of it as the value of gold staying the same and the value of your pound or dollar going down, so you need more pounds or dollars to buy a certain item.
  3. WOW.......this could really get Silver moving. It says last time bought approx $0.5bn of Silver it moved the price by about 175% !!!
  4. Anybody heard of them ? This looks pretty good to me, can you see any catches that I've missed ? http://www.closesavings.co.uk/accounts/premium-gold-1/
  5. It's also saying that 90% of the population haven't got a bloody clue what the current price of gold is !! I don't think its a 'shoe shine boy' moment, but a few more articles like this could start the 'public awareness' phase.
  6. Wow ! http://blogs.thisismoney.co.uk/2011/10/house-prices-to-halve-and-worse-for-the-ftse.html Anybody heard of this guy ??
  7. Gold to fall 60% ? http://www.thisismoney.co.uk/money/investing/article-2045120/Gold-price-fall-60--academic-Mark-Williams-latest-forecast-boom-bust.html
  8. He's kind of like a British Peter Schiff.
  9. So how exactly does this work ? if I wander in there with with a cheque for say £5k from my UK current account, * Will they just open a current or savings account for me, converted into Yuan ? * Is there a charge for the conversion ? * and what about withdrawal or account closure, would there be another charge to convert back to £ cash or cheque ? Silly basic questions I know, but I'm interested in the small details, as I really am actively looking into how I can get my savings out of cash / Sterling as the Inflation / negative interest rates are beginning to bite a bit now, and I reckon long term the only way is down for the £ against most of the Eastern currencies.
  10. I don't know but its gone up too far, too fast for my liking, I'm really hoping for a healthy correction soon. I won't be buying unless it comes back to something like $1600. Maybe I've 'missed the boat'................now where have I heard that before ?
  11. Comparing these, I would still come to the same conclusion, looks like we had the bear trap around mid '08, now in the early mania phase of media attention, and general public slowly becoming aware.
  12. I like this chart. Personally, and again it's just my gut feeling, I would have said we were in the early mania phase, as gold is definitely getting more and more media attention recently, and have just had a couple of colleagues at work mention gold, so it's working its way onto the publics radar.
  13. I'm in the exact same position as the OP. I can absolutely see the argument for it going up until governments stop printing, de-valuing, bailing out, and adding to the debt. But I can't help feeling it's gotta be due a correction, once the current upsets in the news calm down a bit.
  14. Well I'd prefer my local councillor acted in this way, rather than just roll over and let it happen like our one did. I'm assuming most of the locals were not in favour of this space being developed, therefore he was just acting as spokesman for these people !! It is also true that they try to slip these things under the radar, so that by the time the locals find out, its too late. Well done to your councillor for highlighting the issue so at least the local people get a chance to have a say, as far as I'm concerned he's done his job.
  15. I got a 'BigTrak' for Christmas, I guess around '82-'83, and I'm sure they were around £30 at the time !!
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