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Posts posted by BENEFIT SPONGER
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Good advice re not taking advice from these columns, as for me I will go and see the following for advice:
1)The estate agent who tells me 'There has never been a better time to buy a property' (for his comission)
2)The bank manager who advises me to 'Take out a credit card and a loan' (for his comission)
3)The financial advisor who fully belives 'You will never loose in the stock market' and offers various products that bolster his 'comission'
4)The pundits in the property section of the times who deny outright the potential for a HPC on the basis of 'Getting the advertisers in'
5)The government, who cant ever tell it like is cause theres an election to be won.
Think Im starting to see a pattern here, however as for me, Im dazzled in the headlights and dont know which way to run, whos ever advice I take and run with will no doubt turn out to be wrong, so meantime will stick my money in the best bank accounts I can find and wait till at least something crashes and reaches something looking like rock bottom and fair value, by the way thats my advice and you should all take it.
I'm one of the guiltier sheeple for asking for an opinion on another thread,but i'm a big boy and at the end of the day,i will ponder over advise good or bad' and make my own decision after careful deliberation.
I'm now going to follow the good advice of steve99. BAAA baaa baaaa baaa
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Loving your new avatar BB.
Thanks i think the name and avatar suits.
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Don't know what it was but, "The property you have requested is no longer available".
I thinkk the EA relised my offer of 300 quid for a lovely place out in tyrone was taking the piss.
He had it for offers around 400 quid.I think it should have being 400000k.
Ahh well nice try i suppose,i wonder if i can sue for false advertising,because i really like it,the house was lovely,and if pushed i would have went up to around a thousand quid.
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Fu*k me i haven't realise prices have crashed this much.
Since its now apparently in the media that it is a buyers market, i wonder if i could get this palace for a 100 quid less than the asking price.
I'm emailing the EA with my offer now.
http://www.propertynews.com/brochure.php?r...p;p=RM908910133
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Two similar questions. I am no financial advisor and I would advise you to seek professional advice on these kind of questions. If there is the opportunity to choose the portfolio in which your endowment is invested, I would go for the safest class as soon as possible (that's what I have done in May/June with my endowment and my one pension fund where I have such a choice).
As for surrenderring and endowment, I can tell you what I did. My endowment was 8 years in (so, not at all that much). I take quite a hit cancelling it because the fees/commission are paid at the beginning. Since I am not that far into it, the amount of cash I get is quite small. I am now also less insured agains death, although two of my pensions (I keep pensions!) have a lump sum on death. My FA thinks I am stupid because I am losing out on tax advantages. Of course, you also pay some fine for cancelling early.
During the dotcom bust my insurer took a full, frontal hit. They literally burnt most my money. It would have been much better to just stuff that money into a matress. So, now that I expect an even bigger economic mess, why on earth should I assume they will fare better this time? They had their chance -- now it's paytime. I take the money and speculate on my own. And for taxes: I'd rather pay taxes on profits, than no taxes on losses!
NOTE 1: If the amount from the endowment was anywhere close to 'life savings' or I was close to retirement, I would possibly keep the endowment, but if so would put it in the 'safest' class possible (short term government bonds). Since I am far from retirement and the sum is small, I bet on precious metals. If I get hit, I can take it. But there is a possibility that it makes me a wealthy man.
NOTE 2: Paying debt from an endowment could make sense, however, it should be carefully calculated through, with taxes etc. If your debt is variable interest and IRs are rising (at least in the markets), you might lose more IR on the debt than you rake in from your endowment. But as I said, this has to be carefully calculated, also with all fines etc. that come along with cancelling.
CGT, and I want to have smaller coins than only 1oz as well. The premium on Sovereigns then suddenly looks very attractive.
No thanks about the financial advisor,i know one that went bankrupt and can't finance himself at the moment. It is just their opinion anyway,look what happening with banks at the minute,i'm sure their financial advisor's fu*ked up.
My endowments surrender value is small,so i think i will phone and get the surrender value,and look for one of these websites that buy them for an investment,and let them maybe get suckered if there is a financial meltdown.
I have my life insurance anyway in precious yellow metals, i might seriously think about adding a couple of kilos of silver to that as well,as i think it will also shoot up at some stage, i have also a small share in property,so i don't care if it crashs, all the better,people can get back to affording it at 3x wages.
AS for the CGT how do they work that out ,say with a krugger that you only bought the day before you sell it,and hasn't had time to make gains.
Thanks for the answers to my question Mr goldfinger,appreciate it don't worry about me doing the selling endowment bit,
for i was thinking about it for a couple of months and was too lazy to do anything about it.
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Very nice! Yes, Axstone's treasure is quite impressive. Lots of silver in it as well. I am waiting for my endowment to be cancelled and paid to me, from which I then will buy silver. I see you mostly have 1oz coins. Also did in the beginning, but I am now more in Sovereigns.
I've got sovereigns as well, and i seem to have a nice rare one with the reverse side upside down to the head,not a fake as i weight it and also got it from a reliable source mixed in with about another 60 sovereigns.
I would also like to have silver as i can also see it going to the sky in a few years,but i don't really want the added cost sent in the post,along with the hassle of storing it in a suitable place,so i'll maybe stick to gold for now for convenience.
Could you explain why i should hold on to my pearl endowment policy with profits and life insurance,as i am thinking of selling it too, I was tolded to hang on to it incase i was to buy another house in the future,and would cost a lot more to buy,so it is been going on for eight years now,and probably worth eight grand if i surrender it.
Can only see myself buying a house in the future hopefully with a bag of gold,and no mortgage. so i don't think i should hang onto the endowment anyway.
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Incidentally one of the sheep who bought the houses at the 700k price was on RTE news tonight bleating about how he had camped out for several nights to be able to buy at that price and now the rotten builder was selling houses off 100k cheaper. Fight fair!
Maybe the sheep that borrowed for the MCmansion ,will have to get use to camping out under the stars for more than Seven nights soon.(REPROCESSED.)
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see, it's not that difficult to become cgnao2.
NOPE, very easy thanks,i will try better next time.
p.s i cant take the s**te, after all i've married twice.
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Well somebody has to post stuff like this now that some of you's have peeved off cgnao :angry:
It is nice to see this sort of stuff coming out of the woodwork,more to come out, I'm sure.
This was in the FT,Axel Weber, president of the Bundesbank, said at the weekend.The comments mark the first time that a top central banker has endorsed the notion that the non-bank financial system is seeing an old-style bank run.
Enjoy.
http://www.ft.com/cms/s/0/d79548f2-5984-11...00779fd2ac.html
So sorry this has already been posted by cgnao,my sincere apoligies
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Well somebody has to post stuff like this now that some of you's have peeved off cgnao :angry:
It is nice to see this sort of stuff coming out of the woodwork,more to come out, I'm sure.
This was in the FT,Axel Weber, president of the Bundesbank, said at the weekend.The comments mark the first time that a top central banker has endorsed the notion that the non-bank financial system is seeing an old-style bank run.
Enjoy.
http://www.ft.com/cms/s/0/d79548f2-5984-11...00779fd2ac.html
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The supply of money does not grow exponentially towards infinty, people who are planning/betting on the system collapsing after some kind of hyperbolic expansion of the money supply, are living in false hope.
I betting people also said that before the Hyperinflation in Argentina in 2oo1, before the country went into turmoil economically and socially, and their was also lots of runs on the banks at that time. it has happen loads of times throughout history and from what i read it will also happen again soon,without question it will come but when?
Thats why i have a nice wee parcel arriving in the morning of shiny yellow metal,that is real money,and can't be printed by some Banker/Government, will be recognised even out in some barren cess pit of a country
I'm in it for the long term.
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Ohh no ya dont-If you think Im following any dodgy youtube link from this forum ever again after the whole bruno episode you are very much mistaken m'laddo but I have every faith that it could only be complimentary because I know we're all such lovely lovely people on here
och,i know you had a we sneaky look at, and a wee listen to the song on you tube,but you are of course not going to admit it .
Well since i put this link from you tube on and it will I'm sure it looks and sound like you when your ranting at others on HPC forum.
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Heard a 'rumour' but from someone that should know that at least one of these high rise appartment blocks foundations was wait for it 'SINKING' - I'm serious so make sure if you are thinking about buying you find out which one!!
AHH about to include a luxury swimming pool in the basement perhaps.
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...or maybe:
AFRAID TO SAY
what they really think
????ENRON??? i SMELL SOMETHING COOKING.
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Ooh at last-people on the right track on this thread Yourself and Largely ignorant-give yourselves a shiny
No I didnt see that Barry but I'll keep an eye out for it-must be floating round the net somewhere I'll warrant. Edit: silly me you provided a link lol
I think this song refers to you.
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The clue is in the method used for the sales: http://www.zealllc.com/2001/boebomb.htm
Cartel at work
On mission day, the BoE launched the raid and the contract RAF pilots delivered the 25 tonnes of bullion bombs with spectacular precision. The target was a recent rally in the gold price caused by unrelenting rumors that the BoE was having trouble settling its gold obligations with physical gold. Spiraling short-term gold lease rates, which led to the gold rally, helped confirm the odd physical tightness in the global gold markets. The nemesis of BoE, gold, was rearing its ugly head and had to be destroyed before the gold price action opened the floodgates of worldwide gold investment demand.
The Central banks must be really panicking now that gold has passed, $670, and its Switzerland and Spain's turn to dive bomb the gold market,but they can only keep going for so long before they run out.
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Barrick Gold chief sees no slowdown in U.S. demand
This is interesting because this guy use to be an agent for the Central Banks, MORE evidence of the cartel at their work.
So Barrick is denouncing a central bank?
Barrick is a crucial part of central banking -- the company said so itself, even if it doesn't want the investment world to remember.
http://news.goldseek.com/GATA/1188398002.php.
"(But) The industry has really struggled from a lack of investment," he said. "It's fine to talk about great gold prices for the last couple of years, but the Bank of England tried to put the gold mining industry out of business back in 1999 and there was very little adjustment for many years."
Is this the real reason gordie sold of some of Britains gold at such a low price. :angry:
He was referring to the British central bank's restructuring of reserves through auctions of gold between July 1999 and March 2002, in which about 395 tons were sold.
http://www.reuters.com/article/marketsNews...mp;pageNumber=1
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Get yourselfs a real bargain with this wee beauty.
The standard living accommodation would normally comprise of lounge, dining room, kitchen, 3 bedrooms and family bathroom.
Where do you start gutting it out,probably better starting from scratch, houses would normally start at 220+ k around here.
and just looking at the EA site still in cloud coo coo land with prices.
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Bernake wants to create another crisis,they are suggesting that FNM and FRE come up with new clever types of mortgages that will make these overpriced houses bought by people who knew they couldn't afford them, miraculously affordable with a flick of a pen.
The idea is still that the equity in the houses will go up and then the homeowners can pay back the reduced monthly payments.ANYTHING TO KEEP THE BUBBLE GOING.
The following is the text of a letter sent by Federal Reserve Chairman Ben Bernanke to Sen. Charles Schumer.
The twelve Federal Reserve Banks around the country are working closely with community and industry groups dedicated to reducing the risks of foreclosure and financial distress among homebuyers. The Board is also engaged in these issues; for example, Governor Randall Kroszner serves as the Federal Reserve’s representative on the board of directors of NeighborWorks America, which has a program to encourage borrowers facing mortgage payment difficulties to seek help by making early contact with their lenders, servicers, or trusted counselors. And as I noted in my testimony in July, in order to strengthen consumer protections, the Federal Reserve Board is currently undertaking a comprehensive review of the rules regarding loans subject to the Home Owner Equity Protection Act as well as some rules pertaining to mortgage-related disclosures under the Truth in Lending Act.
It might be worth considering at this juncture whether the private and public sectors, separately or in collaboration, could help the situation by developing a broader range of mortgage products which are appropriate for low-and moderate-income borrowers, including those seeking to refinance. Such products could be designed to avoid or mitigate the risk of payment shock and to be more transparent with respect to their terms. They might also contain features to improve affordability, such as variable maturities or shared-appreciation provisions for example. One public agency with considerable experience in providing home financing for low-and moderate-income borrowers is the Federal Housing Administration (FHA). The Congress might wish to consider FHA reforms that allow the agency more flexibility to design new products and to collaborate with the private sector in facilitating the refinancing of creditworthy subprime borrowers
facing large resets.
http://blogs.wsj.com/economics/2007/08/29/...ter-to-schumer/
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So in conclusion, it was the Jews fault all along, problem solved. You would think if Jewish people are so smart they would have colonized a bit of the middle east that actually had oil under it....
Well the Jews after WW2 had no choice but to go to Palestine as it was under British control and an easy solution ,and they got the symphony vote after what happen to them in Germany and nobody else wanted them. but hey, who needs Oil when you have clever Zionist Bankers that control the Money supply and give Israel handouts,via usa governments.
Don't get me wrong I've lived in Israel ,and have nothing against Jews,but i have a problem with Zionism controlling the media and governments to suit Israels needs,and Zionism in finance in most of the worlds Banks.
But the usual wingeing when somebody speaks any ill of them they start bulls*hit about anti Jewishness.
As for the Raghead religious leaders in Iran , i couldn't give a s*it about but i don't want to see anyone getting fed false lies by Bush, and the rest of his Zionist neocon chums BY STARTING A WAR, and using WMD as an excuse.and glut for more oil.
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Hope this cheers the gold bulls up, this guy Eric_Chevrette reckons our favourite metal will be at $ 5,000 around year 2012 using the “Elliott Wave Principle” ?
Hope he's right as i STR about 8 months ago and have put my monies into gold to stop inflation, banker thief's and Gordies government from stealing it, and hope to be able to buy when the houses become more reasonable, to quote Mr Goldfinger ,when houses come down to around a hundred kruggers i will buy.
While gold remained UN noticed fully unscathed during the blood bath of the lastest weeks, it is now ready to surge ahead above all previous highs on its way to an intermediate target around $ 800; sure enough the gold mines will embark along on a nice intermediate push ……
A rather imprecise but fair estimate of the final target of the current gold bull market is then to be derived from chart #14 : $ 5,000 around year 2012…..
It is rather long artical with lots of charts
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The Jewish neocons who hold the puppet president Bush's strings have a couple of major aims in life: (1) stop Iraq being a threat to Israel and (2) stop Iran being a threat to Israel. All talk of oil is hogwash, the oil would have flowed just fine with Saddam in charge. The protection of Israel is what it's all about and the Iranian president, Imadinnerjacket, is on the record as saying he's going to wipe Israel off the map as soon as he is able, ie, as soon as his nukes make a big enough bang. The US administration is desperate to provoke a war with Iran before Bush leaves office and a less pliable president takes over.
You forgot no3 ; America is in the sh*t Financially and need another diversion from the real issue, plus it lets the Jewish money lenders make a profit from backing both sides in the war and help their weapon company's make a few dollars as well as makes these scum loads of money and helps also in their quest for a NWO.
Iranian president, Imadinnerjacket got wrongly translated by AR*HOLES with a VI in wanting to wipe out Isreal,if he wanted he would wipe out the 50,000 odds Jewish folk living in Isreal.
Don't believe the jewish control media either.
I'm Worried About My Savings
in House prices and the economy
Posted
You be better reading this thread for advice from Nanny stonethecrows.
http://www.housepricecrash.co.uk/forum/ind...=54907&st=0