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Posts posted by markyh

  1. 16 minutes ago, Bruce Banner said:

    Surely that's because they don't record the serial numbers of the individual bank notes and hold them for you.

    Nope. If the bank goes into liquidation the next day, Poof, your moneys gone and you have to beg the Government to give you back up to £85k of it. Deposit £1m, you get £85k and feel grateful.  

  2. 10 hours ago, Grayphil said:

    Just to lighten the HPC doom and gloom, I thought I'd start a daft thread on silly ideas that could work to save money

    The story...

    Currently converting house with loft conversion and a rear orangery/extension...

    Realising the extra demand in heat both areas will cause, (it's soon to be a large ish open plan 3 story 5 bed)

    With having up to 4 teenage kids staying there, as well as me and the partner,  I have made the decision to buy a log burner for the extension to heat it from.

    I normally work away, then get a sizable vacation time, I'm planning to use some of this to harvest old wood from common ground. (To go around common ground with a small electric chainsaw and essentially a wheeled old lady shopping trolley chopping up fallen trees/branches)

    Yes I know they need to dry

    Anyone else got any daft ideas to save some money?


    Back to the 70's. We did this all the time, my dad and uncle with a axe and bow saw, me in tow, drive the car into the woods, hand process fallen trees / logs, then axe split them in the back yard.  

    Cost my Dads mate a finger once due to my little sister about 3 at the time wandring near him while he has splitting logs, looked over his shoulder to see where she was while still chopping, Whoomp, finger gone. 

  3. 15 hours ago, FallingAwake said:

    "In some instances, we may choose to" not let you have your own money.


    Once you deposit it in a Bank it's no longer your Money. You gave it to the bank. You own an IOU on a bank ledger in your name.  

    Not you your bank, not your cash, Not your keys, not your coins. Crypto is the answer, self custody of your money and assets. 

  4. On 09/08/2022 at 15:12, FANG said:

    This movement is now gathering momentum. So could they form a new political party in this country to challenge Labour and the Tories.

    And give some power back to the people 

     Enough is Enough - A campaign to fight the cost of living crisis (wesayenough.co.uk)



    Thing is it's only the bottom 30% of the income distribution that are really suffering, and they get almost 100% of their income from the other 70% who are fed up with paying for them. As Mark Blyth said "We dont  care what happens to you, you are now something to be policed, your now something to have your behaviours changed". 

    This winter my home energy bills will rise from £200 pcm now , £120 pcm last winter, to £500pcm.  It's annoying yes and cuts will be made in other area's and energy consumption will be less. But when we need it we will heave both heating and eating as we always have for the last 20 years as a family. 

    I will still vote Tory as every other party will want to rob me blind to pay for the feckless.  

  5. 1 hour ago, Pmax2020 said:

    Because you have a Tory government that’ve increased national debt by a trillion £££s, having wasting tens of billions on poorly designed furlough, insane covid loans, PPE that had to be burned, tack and trace that didn’t work. That’s just in relation to covid . HS2 anyone?!

    You’ve also got the disastrous brexit that’s increased supply chain costs for all our vital imports - rendering lots of businesses and goods incompatible with being brought to the UK. 

    Everything Westminster touches becomes corrupted and broken. Look at the problems with water in England - no accountability for water companies. No investment in infrastructure. Broken. 

    I love how the BBC have the audacity to suggests it’s a UK problem… https://www.bbc.co.uk/news/science-environment-62298430

    Is the UK headed toward drought? No - Southern parts of England are because you privatised it all. Sigh. 

    Labour Government in 1976, i was there terrible drought, much worse that the Tory caused one now.  Why couldn't they solve it back then?  Or..... was it something to do with the weather?   Hmmmmm.  

    And every time i pass the HS2 sites i marvel and the tens of thousands on Navi's with pick axes building that thing for hundreds of miles, great for full employment. 

  6. 1 hour ago, msi said:

    FT: Coinbase racks up $1.1bn loss as crypto trading volumes slump

    FT: Robinhood suffers harshest hangover after pandemic stock trading boom

    ...Active users have fled the platform. The number of funded accounts has levelled off. Robinhood’s market capitalisation has dropped by two-thirds since it went public last summer. Last week it announced lay-offs for nearly a quarter of its staff...

    Crypto Winter , Sping is 2024, Summer is 2025. 

  7. 12 minutes ago, Crashley Banjo said:

    Well done @qejunkie


    respect for living the dream. Gotta work hard play hard, build memories. 

    I remember both of you posting a lot pre 08. I was posting too but got put into HPC prison lol

    my situation is I never sold since buying 2011 lol.  Kids arriving and mrs being uncomfortable with selling at the time meant I didn’t get to use that equity wisely. 
    Now I’m waiting for prices to equalise to allow me to jump to the next square of the game. 


    I you bought back in 2011 you have done well, plenty of HPI since then. Our last move up to the last house in 2016 during Brexit mini crash after June vote was our last. and HPI gains have been good the last 6 years too. Now pretty much mortgage free thanks to Crypto so just living life. 

  8. 1 hour ago, MonsieurCopperCrutch said:

    Indeed Phil. I managed to bag some cheap corn myself (likely by pure luck it has to be said.)

    Like you I'm looking forward to the next halvening and digging out those choicest of meaty quotes from this thread. 😁

    Notice since we have come back up $7k from $17k lows they have all scurried back under rocks again to hide?  I still think we need a capitualtion wick to $10k In Q3/Q4 2022 but hope we dont. 

  9. 17 hours ago, Dogsy said:

    My mate’s pub (quite a big space) had the energy prices go up an eye watering amount on the last hike. I think he’s fkked now. There will be zero profit once the energy costs are paid for most restaurants/bars. This cold season people won’t go out for a drink or a meal somewhere to sit in the freezing cold. How many others will go?

    Was more pubs in the UK 1400-1900 before GCH or leccy heating was a thing, people seems to have flocked there to eat and drink back then, even in Winter.  I love our village pub in winter with the log fires roaring.  Toasty. 

  10. 1 hour ago, longgone said:

    Gamblers never see the negatives only the upside.

    The mugs who paid 65k won't have the same outlook.


    No big money to be made anymore unless risking big money and have lots of luck and greater fools to find.

    There will be plenty of new projects doing 100 x-1000x , people just need to research and find them. Bitcoin still has at least a 50 x in by 2029. 

    Personally looking forward to the next Tesla stock spilt. 

  11. 5 hours ago, dances with sheeple said:

    Most people can`t clear their mortgage like that, and many FTB can`t even scrape up a decent deposit, you know that right? Therefore when recession, higher rates and cost of living increases kick in your house can`t still be worth 700k, because other less well off borrowers set the price.

    But it doesn't matter, is the last house of our personal ladder of 3 purchases (with 2 rentals in between).  We will retire here and downsize one day, if the market falls a lot and not recover in say 30 years time then we will trade down to whatever at that point. I have no concerns of the rise and fall in the price of my house anymore and we no longer need LTV . 

  12. 19 minutes ago, LetsBuild said:

    Yeah but you aren’t running the country and it’s only 2 weeks, this lots broke up weeks ago and will not be back till September.

    Also the end of October is likely to be when it all kicks off here, what will all the energy hikes (and rationing, maybe), might not have a Tesla when you come back 🤣

    My Octopus Go beta EV leccy contract is fixed until end March 2023, 30p kwh day, 7.5p kwh night, 25p standing charge. Gas is variable though so that will shoot up from 7.2p kwh. 

  13. 46 minutes ago, bomberbrown said:

    Great insight Insane, thanks. I was late teens/early 20s at the time and mortgages were far from my mind at that time, so memory was quite hazy.  

    Fixed and capped mortgages were both on the table when i bought my 1st house in 1996 in my late 20's. Ended up with a 7% Halifax variable cashback PEP mortgage i seem to remember. 

  14. On 28/07/2022 at 16:59, Confusion of VIs said:


    *I know this because I have just got quotes in, for installation of 2 Growatt 6.5kwh batteries next week, picked Growatt because they are LFP so pretty much everlasting and were immediately available.  



    Hey COV , my installer is still unable to get my 2 x 8.2kwh + 2 3.0 inv Giv-Energy system to install. Had a call Monday and they have the batteries now and no invertors. He suggest we look at other brands. 

    Any pointers how we can get hold of Growatt Systems?   Also i was in disagreement with him that i thought Ritchie had mad all "renewables" vat free recently including stand alone battery storage, my supplier says it still needs to be bundled with a green energy item (Solar PV / Heat Pump etc) to get 0% vat. 

    I really really want the install finished by October price cap, i started in Feb and thought it would be done by now. 

  15. 21 hours ago, longgone said:

    Surely paying off the tesla's is a higher priority no ? 

    Why waste 12k to go somewhere to get your trainers nicked. 🤣

    Got the Tesla's payments covered, got a net zero mortgage now remember. Plus they are not really losing value, did a recent WBAC/ Carwow / motorway etc runs and the Y we can get more than we paid for it after 5 months and 8k miles and the 3 we can get £50k for it after 8 months and 9500 miles, we only paid £52k and what it owes will be around £45k now.  Want to buy the 3 now new from Tesla? 9 month wait and £61k , exact same car, just slightly bigger battery. 

    All's good, should have bought the right Crypto as we advised over several years rather than sitting in cash losing money. 2% max while inflation is 13% must be a killer. 

  16. 21 hours ago, nero120 said:

    My tenancy agreement is for a year, usually with a 6 month break clause. What do I lose if I don't pay? What do you lose if you don't pay your mortgage?

    Honestly you lot are stupidity defined.

    You will be evited and living on the streets, I have the remaining balance of my £212k mortgage as cash in a few savings accounts waiting for my 5 year fix to end in June 2023, when i shall be clearing it in full.  I shall be in a mortgage free £700k house under 55 years old just living life. 

    Renting is a mugs game, how do you propose to pay the market rent from your small state pension once you turn 67 ?  You plan to try and keep working until you die?  

  17. 21 hours ago, henry the king said:

    BBC reporting this:

    “The fact that the Bank reiterated its willingness to act ‘forcefully’ to curb inflation, we think there’s a strong possibility of another 50 basis point hike in September, particularly if that’s what both the Fed [in the US] and European Central Bank end up doing too.”

    He added that the fact the Bank is increasing the pace of rate hikes, while also forecasting a recession, demonstrates how worried it is that worker shortages and supply issues could keep inflation high, even as the economy weakens. "The Bank will want to see signs that skill shortages are easing and that wage pressures are showing signs of abating" before stemming rate hikes, he suggested.

    Can you imagine if we get to 2.25% in 6 weeks?

    The crash is already going to be turbo charged.

    If they went 0.5% AGAIN then the crash will be even faster.

    We will be YoY negative by the end of 2022. 

    Perfect strom.

    Crashy Crashy

    You watch how quickly they will come down again in 12 months time once a depression is spreading, both USA and EU / UK.  back to under 1% by the end of 2023.  

    Total currency collapse of the USD system is the only way out, anyone without assets wiped out financially. 

  18. 3 hours ago, rollover said:

    Boris Johnson enjoys honeymoon in Slovenia and Chancellor takes family to holiday home abroad

    A Cabinet minister defended Boris Johnson and Nadhim Zahawi's holiday plans today amid criticism that they are abroad while economists warn of a looming economic disaster.

    Mr Johnson and Carrie are believed to be in Slovenia on a 'mini-moon' after a belated wedding celebration last weekend. At the same time, Chancellor Mr Zahawi has whisked his family off to their holiday home abroad, with Uk politics having largely shut down for the summer.

    This morning Business Secretary Kwasi Kwarteng said he is in 'regular' contact with both men. He admitted he 'doesn't know' where the PM is. They are completely on top of what's happening'. And we're absolutely focused on trying to deal with this problem.'

    Daily Mail


    Good on him (them), i'm busy booking a late 2 week holiday in Cape Town for last 2 weeks of October, up to £12k so far with flights, Holiday house in the best part of town (very white and wealthy near the beach), and Car hire. 

    We cant all be doom mongers, some of us need to keep the economy going, say thanks if you work for Expedia or booking.com, i'm helping keep you in a job during these hard times. 

    This is in leu of a family summer holiday now btw, not made of money!! Actually saving 2 weeks of crazy Gas and leccy prices going then too, every little helps.  

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