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Everything posted by LargelyIgnorant

  1. I see a bright future ahead, where our brilliant bankers continue with their wonderful 'product' innovations such as CLOs, CDOs, RMBS, etc etc.
  2. The goldbug central bankers sell off small bits of their vast hordes with great public hullaboo in order to show that gold is, to misquote Keynes, a barbarous relic, i.e. not real money. Occasionally they come across people with no economic training such as Gordon Brown who are convinced to sell even more than is prudent. This theory says that physical demand from ChIndOil goldbugs eventually gets to the point where the central banker goldbugs stop dishoarding through fear of being overrun.
  3. Thanks, gruffydd. http://www.bbc.co.uk/radio4/today/ Has the interview linked: http://www.bbc.co.uk/radio4/today/ram/toda...an_20070928.ram
  4. We don't live in a fully fiat system. All global currencies are backed by the petrodollar, which is backed by it's convertability to oil. Oil is the lifeblood to the modern economic system and if you want oil, you must buy it in dollars. The US enforces petrodollar convertability through overt military action and covert actions as described in The Economic Hitman. imo, the UK/USA alliance has already worked to control the price of gold, as evidenced by the bizarre method of the UK's gold sales. This has been done because the goldbug central bankers believe that if they suppress the price of g
  5. Marc Faber again: http://www.financeasia.com/article.aspx?CIaNID=61744
  6. Can we start a STR group and invite Bruno to join?
  7. No, of course not. Buying a house now at the start of a credit crunch, at what looks like the top of the market is obviously negated by the fact that properdee only ever goes up. I'm sure that everyone on a website called housepricecrash.co.uk will agree.
  8. Say sterling loses value against the Euro - we engage in a competitve currency devaluation like China or the US; Then British goods get cheaper in Euroland -> people in the UK can get paid more pounds, but their wage in Euros can stay the same. The problem with this is that we are a net importer and it would increase inflation (although it would also decrease imports). But the UK gubmint isn't exactly known for the honesty of it's real cost of living inflation indicators. edit: pretty much what Control Freak just posted above, but if you make sterling worth less, you can pay Uk workers m
  9. There's an interesting sounding book on CBs, gold & money in this Bull not Bull article: http://bullnotbull.com/bull/node/48 Another one to add to the 'to read' pile
  10. Oh well, as it now looks as though HOL wanted to start another gold thread, there's a new book on gold & central banking mentioned in this recent bull not bull article on Greenspan, the Fed & the gold standard: http://bullnotbull.com/bull/node/48
  11. This is Mish's view: http://globaleconomicanalysis.blogspot.com...ce-to-hide.html [the 'Homestake Mining' hyperlink points to a (gold site) article on gold stocks in the depression] edit: link
  12. FTSE 1 Year: LSE 1 Year: FTSE & LSE 2 Year: It looks to me like it's just the Qatar Investment Authority gobbling up some of their spoils
  13. The deflationists such as Prechter and Mish also say hold gold... It's going to be slumpflation, 100% correct guaranteed
  14. Isn't it more to do with sovereign wealth funds chasing real financial assets?
  15. The congressman's questioning alone: http://www.youtube.com/watch?v=nBnKh6B2cMw
  16. Hargreaves Lansdowne, Selftrade, Etrade, etc. Etrade has some exposure to subprimes somehow. I like Hargreaves Lansdowne. You can combine individual shares with funds within a 'self select ISA'. In the long run, by selecting dividend paying individual companies you build up your stake rather than losing it in fund management fees. edit: search for high yeilding portfolio and start with energy stocks they reccomend - a kind of peak oil HYP.
  17. All of my cash is in foreign currencies now, but I'd say only get into foreign currencies if you would be happy to be stuck in them long term and buying a house in the revelent foreign country. If you want to buy a house in the UK stick with £. edit: I'd combine ?...! and crashtart's advice and fill an ISA up with the bigger oil companies that pay dividends. All the oil companies are listed in things like the financial times - pick say 10 with the highest dividends, researching individual stocks on stock chat sites like iii.co.uk - BP has gone down a bit recently. Reinvest the dividends at th
  18. I agree; Chinese & Indian people seem to mostly believe that gold is money, and they've got all the paper cash.
  19. The confusing thing about Mish is that he sees gold as a deflation hedge: http://globaleconomicanalysis.blogspot.com...tion-hedge.html He's like a Prechter who thinks that gold is money
  20. Nobody really knows, but a main course in a good country pub used to be £5. It's now about £10. My guess is that in 5 years time it will be £15, not £5 again.
  21. I was reading somewhere (probably here ) that Brown advertising himself as the Mew Thatcher was a major mistake because the Scottish detested her, and will all vote for the SNP instead of Labour. This couldn't possibly be Tebbit encouraging this process?
  22. I agree. And the only reason he would do so is because he believes that the mirage of his miracle economy is about to dissapear.
  23. How did you infer 'Point 2' from 'Point 1' ??? And look at the overshoot past mean each of the 3 last times
  24. The nice thing about ETFs: http://www.etfsecurities.com/en/securities..._securities.asp is that you can hold them in an ISA. The problem with them is that they are priced in dollars (although this could be an advantage when RB is finally right)
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