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Gman

This Guy Predicted The Sub Prime Crash And 'global Depression'in 2007

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my memory is that we were discussing depression as a real possibility in late 2007 here on this board as well - what happened in 2008 certainly came as no surprise to many others here as well.

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my memory is that we were discussing depression as a real possibility in late 2007 here on this board as well - what happened in 2008 certainly came as no surprise to many others here as well.

2006 when i joined i was discussing it... these are all johnny late comers.

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2006 when i joined i was discussing it... these are all johnny late comers.

yes :lol:

So there's nothing there that hadn't already been discussed here - that's my point.

Edited by JimmyMac

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yes :lol:

So there's nothing there that hadn't already been discussed here - that's my point.

The only reason some of us arnt on tv talk doom, because we speak about tin foil hats, and dont talk the talk and say things like survival kits etc....

Oh if it gets really bad, the rich will suffer more than the poor, areas like kensington would be empty.

Edited by crash2006

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2006 when i joined i was discussing it... these are all johnny late comers.

Yep and this was at a time when the consensus was for big rises in property prices for the UK in the coming years, but even then the warning signs coming out of the US were flashing red for some. But as you will remember even a doom mungering site like this was not very receptive to these ideas. Apparently at the time the US/UK cough sneeze had decoupled and I was wasting my time posting the many clues as to what was heading our way.

I was even telling my Dad end 2006 that I was reading things that pointed to a depression and that is why I was going to sell my house asap. He is now telling me not to be smug and this mess is so big it is going to effect all of us!

No shit, I have given up my career, sold my house and cars, relocated and taken a cut in salary of over 50%. I am not doing these things for fun, although I am very happy with the life we are now forming. If I have missed called this fine but I feel much better being prepaired for it.

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I know that you guys were predicting the 'House price crash' in 2006 because I used to look on here but didn't post. This Gerald Celente has been warning of this for years also (before 2005) but has a wider scope on the economy and trends.

I also have been predicting the Global meltdown for 6yrs but everyone called me a doom merchant. I sold my properties in 2005 for a tidy profit but it cost me a relationship for doing that. I followed my heart and not my head because whats just around the corner is not worth thinking about.

I know a World Central Bank is coming and Kenneth Clarke has just been put into his position to get us 'Swiftly' into the Euro currency when the Tories get in (soon).

The Euro is just the final nail before the World Central Bank and cashless society. Everyone will have 'Units' to spend but ALL of our lives will be Government controlled.

Peace.

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I know that you guys were predicting the 'House price crash' in 2006 because I used to look on here but didn't post. This Gerald Celente has been warning of this for years also (before 2005) but has a wider scope on the economy and trends.

I also have been predicting the Global meltdown for 6yrs but everyone called me a doom merchant. I sold my properties in 2005 for a tidy profit but it cost me a relationship for doing that. I followed my heart and not my head because whats just around the corner is not worth thinking about.

I know a World Central Bank is coming and Kenneth Clarke has just been put into his position to get us 'Swiftly' into the Euro currency when the Tories get in (soon).

The Euro is just the final nail before the World Central Bank and cashless society. Everyone will have 'Units' to spend but ALL of our lives will be Government controlled.

Peace.

Was that counted as a profit or a loss in the transactions?

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I know that you guys were predicting the 'House price crash' in 2006 because I used to look on here but didn't post. This Gerald Celente has been warning of this for years also (before 2005) but has a wider scope on the economy and trends.

I also have been predicting the Global meltdown for 6yrs but everyone called me a doom merchant. I sold my properties in 2005 for a tidy profit but it cost me a relationship for doing that. I followed my heart and not my head because whats just around the corner is not worth thinking about.

I know a World Central Bank is coming and Kenneth Clarke has just been put into his position to get us 'Swiftly' into the Euro currency when the Tories get in (soon).

The Euro is just the final nail before the World Central Bank and cashless society. Everyone will have 'Units' to spend but ALL of our lives will be Government controlled.

Peace.

In a perfect illuminati world, that may be so. Have some faith in the Human Spirit!! Mr. Celente is predicting a second revolution in the USA and the emergence of a Third Party... he's not the only one. If that happens, it will spread world wide and the men who would be kings will end up scurrying back into their holes.

The Celente interview, although it had some depressing predictions, was quite upbeat about the future, in a way.

Remember the Poll Tax Riots? Poll Tax was a "done deal" in the minds of the politicians.... until enough people said "No!"

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I just wish someone had told me & Injin about it.

what's happening then ?

are house prices going to fall'n'stuff ?

do I need to sell my RBS shares, I bought in at £2.50 a share ?

will my pension be affected ?

good job the UK has those solid, sound fundamentals to sort it all out, that's IF there is a problem of course.

what's that band called, oh yeh......Kharma, Cook & the Deflationists wrote a song about it I think...... :D

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I joined this forum in 18-July 06 after googleing "house price crash" and reading an article by a guy that predicted it years earlier on a different website. Lost the link now :(

Anyway, this is a bit like me predicting man will land on the moon some day. Coming out after the fact does nothing for me. :rolleyes:

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34 posts? You are new here Gman. Many HPCers have been more nail on the head about the economic situation than many of the so-called experts.

Have a read of what we were predicting.

Indeed, or just have the guy check out your join date ....2004.

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I know that you guys were predicting the 'House price crash' in 2006 because I used to look on here but didn't post. This Gerald Celente has been warning of this for years also (before 2005) but has a wider scope on the economy and trends.

Good find, but this post from CGNAO in 2004 is scaryily accurate.. :ph34r:

http://forums.moneysavingexpert.com/showpo...amp;postcount=7

cgnao 11-12-2004, 3:44 PM

To conclude, this is an excerpt from an article I found some time ago. I saved it on my hard disk, don't remember the website address and can't find it anymore.

"One day there will be an uncontained financial accident. Within hours credit facilities will be withdrawn, and there will be forced derivative position liquidations at organisations around the world. Modern derivatives will be the brokers’ loans of 1929, resulting in margin calls, liquidations, the evaporation of confidence, spectacular losses, a credit squeeze and financial chaos. The liquidations of assorted off-balance sheet positions will cause the realisation of big losses in many highly geared positions. This will in turn cause dramatic re-ratings of the creditworthiness of many borrowers.

The crisis will develop rapidly in the international bond markets - where corporations and western governments have borrowed cash consistently and cheaply. Borrowers whose worst excesses are currently hidden off balance sheet in the derivatives markets will find themselves insolvent, and their bonds and shares will plummet in line with their credit ratings. Oversupply of bonds from hurried sellers will drain the markets of cash and the selling of further bonds into the market will become impossible - even at distress prices for good bonds. The bondholders - pension funds, deposit takers and other collectors of the public’s surplus cash - will be drawn in, and will see that they are in no position to pay back their depositors.

Insurance companies will watch as the portfolios backing their obligations are destroyed. Their capital will be inadequate and they will suspend paying their annuity holders. Property secured lenders and banks will be standing in-line, having lent widely in the mortgage, debt and derivatives markets. Of the £600,000,000,000 of gross sterling deposits in the UK much is on relatively short periods (e.g. 30 day deposit accounts) and lent long term as mortgages on overpriced assets. Not the tiniest fraction of this amount of money can possibly be delivered by the banks in cash back to their depositors.

In 'normal' times it does not matter if a bank's withdrawals exceed immediately available cash resources, because the bank can gather up some cash in bond and money markets. But in a credit crunch they cannot do this. There will be queues at the bank but the doors will be shut, Argentina style.

Houses will appear on the market, as the equity rich seek to secure the cash which they regarded as their savings. But no-one will have the cash or the finance to buy them, and house prices will slump in search of a few brave buyers. Mortgage lenders will go hunting cash to stay afloat - they'll suspend new lending. The banks and building societies will increase borrowing rates, without increasing deposit rates, and they will suspend withdrawals. Industrial businesses will face a slump in demand like they have never seen. Unemployment will explode.

Only the debt free who have invested in super-cautious organisations and instruments will emerge with liquid assets."

:ph34r:

Edited by Crashman Begins

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34 posts? You are new here Gman. Many HPCers have been more nail on the head about the economic situation than many of the so-called experts.

Have a read of what we were predicting.

bump !!

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I know that you guys were predicting the 'House price crash' in 2006 because I used to look on here but didn't post. This Gerald Celente has been warning of this for years also (before 2005) but has a wider scope on the economy and trends.

I also have been predicting the Global meltdown for 6yrs but everyone called me a doom merchant. I sold my properties in 2005 for a tidy profit but it cost me a relationship for doing that. I followed my heart and not my head because whats just around the corner is not worth thinking about.

I know a World Central Bank is coming and Kenneth Clarke has just been put into his position to get us 'Swiftly' into the Euro currency when the Tories get in (soon).

The Euro is just the final nail before the World Central Bank and cashless society. Everyone will have 'Units' to spend but ALL of our lives will be Government controlled.

Peace.

You must have been at the last Bilderberger meeting

It's happening ,it is their goal.

Total control of every aspect of our lives

You are free to do exactly what we tell you to do

How we fight this I don't know.

Any suggestions?

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You must have been at the last Bilderberger meeting

It's happening ,it is their goal.

Total control of every aspect of our lives

You are free to do exactly what we tell you to do

How we fight this I don't know.

Any suggestions?

Please how do we fight this

What is our outlet?

How do we take control again?

Poiliticians are all on the same side

The bankers win and we and our children

and grand children are being sold into SLAVERY!!!

HELP!!!!!!!!!!!!!!!!!!!!!!

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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