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House Price Crash Forum

FaTB

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Everything posted by FaTB

  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 !!
  16. With regards to the Public sector I would cut any job, or project, that had the word 'Diversity' in its title !!
  17. So let me see if i understand this correctly In simple terms :- Greece have run out of money Greece can't borrow any more money ......but they refuse to cut spending. So Britain will help bail them out by :- Borrowing it, or printing it ourselves, because we have no money either, and then givng it, or lending it to Greece ??? Have I got this right ?
  18. It's all just common sense, once you've got your head around the basics of economics !! What confuses me is why so many people just don't get it.
  19. The guys name is Terry Smith, anybody heard of him, does his opinion carry any weight ? http://video.news.sky.com/skynews/video?videoSourceID=2143016&flashhttp://www.home.co.uk/guides/house_prices_report.htm?
  20. This is worth looking at and updating occasionally. http://www.home.co.uk/guides/house_prices_report.htm?location=st_albans&startmonth=08&startyear=2007&endmonth=09&endyear=2009 Although the price of semis seems to have risen again, all others are still showing negative from the peak. Also sales volumes are still down between 30% & 50% from peak, and were down by about 70% at one point if you check back. Where it goes from here who knows, but this year could get interesting, especially after the election.
  21. You should never trust a man with a Beard AND glasses !!
  22. '1 in 5' so in other words 80% DON'T go straight back. I really don't see the problem here if there is a civilian job there that REALLY needs doing then surely an ex copper who knows how the system works has got to be an ideal candidate for the job !! The fact that they are taking a pension from a previous job, is irrellevant. Police have something like 11% of their salary compulsorily taken each month, at source as pension contributions BTW. The only questions I would have on this subject are firstly does the job REALLY need doing, and secondly is the salary offered realistic, and I would agree that in many cases the answers to these questions would be NO & NO.
  23. Got no idea about time scales, but I would say the projected rises are based purely on the Central Banks inflating their fiat currencies away to nothing. The way Schiff looks at it, Golds value does not change, the value of the dollar / pound / euro just goes down as they print more of it, (ie. diluting its value)
  24. Are you mad ? It might look like a great idea at the moment, but what if it does go the other way !! Even Peter Schiff only recommends you hold up to about 30% of your wealth in gold. Eggs, baskets, and all that !!
  25. Me too, I first thought about buying gold about 3 years ago. If I had bought then, now i'd be worried about when I should sell. If you buy now you are definately going with the herd, but that doesn't mean that there won't be a mania phase you could ride for a while. I just don't know what to do at the moment, yes gold's at a record high, but the way the UK is running up debt and printing money I think there is good reason for it !!
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