Oliver Sutton Posted August 8, 2011 Share Posted August 8, 2011 FTSE just tracking DOW futures which have dropped to -219 recently. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted August 8, 2011 Share Posted August 8, 2011 Yes, the ECB's actions are moving rotten debt from banks that should be allowed to go under, onto the tab of the state or its Central Bank proxy. Sad to say the only way to protect against this is gold. (sorry mods, but gold is relevant here). It's now gone past the point of no return from what I can see. TPTB are hopelessly reacting to events instead of pro-actively taking control of the situation. It seems to me TPTB are walking the taxpayer into a trap the Banksters have set for us. I try not to even mention Gold in the main forum as it pisses some people off, we all wanted a hpc, what we got instead was something hideously different that is mutating like a virus from hell. Everyone needs to choose where they stick their wealth, but given what we see the fukcers seem hell bent on destroying fiat as we know it which is where most people like us are holding our wealth. The elites are not, I can tell you that from first hand knowledge, they do not leave their wealth idly depreciating in a bank, not in good times and certain not in bad times. Debt jubilee, full scale asset exchange (for debt written off) and a complete revaluation of money is looking like the only way out this, either that of the whole lot continues 'as is' and completely melts down, at which point the people will be begging for TPTB to save them with a new currency of some sort. Maybe this is the plan? Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 8, 2011 Share Posted August 8, 2011 I left mine in a gold trading shop in Tottenham. The price for storing there were very reasonable. I wouldn't want to leave a few hundred thousand pounds worth of gold in a shop in Tottenham . Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 8, 2011 Share Posted August 8, 2011 It's now gone past the point of no return from what I can see. TPTB are hopelessly reacting to events instead of pro-actively taking control of the situation. It seems to me TPTB are walking the taxpayer into a trap the Banksters have set for us. I try not to even mention Gold in the main forum as it pisses some people off, we all wanted a hpc, what we got instead was something hideously different that is mutating like a virus from hell. Everyone needs to choose where they stick their wealth, but given what we see the fukcers seem hell bent on destroying fiat as we know it which is where most people like us are holding our wealth. The elites are not, I can tell you that from first hand knowledge, they do not leave their wealth idly depreciating in a bank, not in good times and certain not in bad times. Debt jubilee, full scale asset exchange (for debt written off) and a complete revaluation of money is looking like the only way out this, either that of the whole lot continues 'as is' and completely melts down, at which point the people will be begging for TPTB to save them with a new currency of some sort. Maybe this is the plan? debt jubilee?>..how are you going to get creditors to accept that?....maybe one or two would, but the whole World??? Nah, any one SWF would just calculate it would be better off than its competitors with a default, then they wouldnt agree. Quote Link to comment Share on other sites More sharing options...
Lepista Posted August 8, 2011 Share Posted August 8, 2011 And where does one store it? £350k's worth of coins is only 300 coins, weighing slightly under 10 bags of sugar. Not particularly hard to hide, even in a normal house. Anyway, squirrelling it away is only required if you're worried about full on roman empire style collapse of the western world. If that's your concern, then what else could you use that gives you such portability and stability Bruce? If you're not worried about such a collapse (and I understand that you're in that camp), then what is wrong with storing it in a bank, or at BV? I really don't see your concern about why storage is such an issue? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 8, 2011 Share Posted August 8, 2011 I see the ECB action is helping the FTSE today, it's only down 1.7%....imagine how bad it would be otherwise Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 8, 2011 Share Posted August 8, 2011 I see the ECB action is helping the FTSE today, it's only down 1.7%....imagine how bad it would be otherwise According to a guy form the FT the ECB has reserves of 450 billion Euros but Italy's debt alone is 1.3 trillion Euros. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 8, 2011 Share Posted August 8, 2011 I wouldn't want to leave a few hundred thousand pounds worth of gold in a shop in Tottenham . Quote Link to comment Share on other sites More sharing options...
leicestersq Posted August 8, 2011 Share Posted August 8, 2011 According to a guy form the FT the ECB has reserves of 450 billion Euros but Italy's debt alone is 1.3 trillion Euros. Does anyone believe the true figure is that low? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 8, 2011 Share Posted August 8, 2011 Your gold is safe Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 8, 2011 Share Posted August 8, 2011 Last Updated at 11:20 FTSE 100 5167.96 Down -79.03 -1.51% Bit of a recovery.... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 8, 2011 Share Posted August 8, 2011 (edited) Last Updated at 11:20 FTSE 100 5167.96 Down -79.03 -1.51% Bit of a recovery.... You spoke too soon...-1.81% This game could go on all day.. -2.1 -2.2 -2.5 Take you pick to the final figure. The U.S. could have a dramatic bearing on the FTSE today. Edited August 8, 2011 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Lewis Gordon Pugh Posted August 8, 2011 Share Posted August 8, 2011 It's now gone past the point of no return from what I can see. TPTB are hopelessly reacting to events instead of pro-actively taking control of the situation. It seems to me TPTB are walking the taxpayer into a trap the Banksters have set for us. I try not to even mention Gold in the main forum as it pisses some people off, we all wanted a hpc, what we got instead was something hideously different that is mutating like a virus from hell. Everyone needs to choose where they stick their wealth, but given what we see the fukcers seem hell bent on destroying fiat as we know it which is where most people like us are holding our wealth. The elites are not, I can tell you that from first hand knowledge, they do not leave their wealth idly depreciating in a bank, not in good times and certain not in bad times. Debt jubilee, full scale asset exchange (for debt written off) and a complete revaluation of money is looking like the only way out this, either that of the whole lot continues 'as is' and completely melts down, at which point the people will be begging for TPTB to save them with a new currency of some sort. Maybe this is the plan? Problem reaction solution? Quote Link to comment Share on other sites More sharing options...
leicestersq Posted August 8, 2011 Share Posted August 8, 2011 You spoke too soon...-1.81% This game could go on all day.. -2.1 -2.2 -2.5 Take you pick to the final figure. The U.S. could have a dramatic bearing on the FTSE today. I dont reckon the US downgrade will make a fig of difference. As long as China keeps buying US bonds, there will be no impact. However, problems in Europe including rumours of 'runs on banks' will have a bearing. And what about Bank of America? The share price on that one has drifted down and down, something is going on there. If Bank of America goes down, then we really are off to the races. Quote Link to comment Share on other sites More sharing options...
Lepista Posted August 8, 2011 Share Posted August 8, 2011 You spoke too soon...-1.81% This game could go on all day.. -2.1 -2.2 -2.5 Take you pick to the final figure. The U.S. could have a dramatic bearing on the FTSE today. -1.91% now... Quote Link to comment Share on other sites More sharing options...
rantnrave Posted August 8, 2011 Share Posted August 8, 2011 Has the issue of the $2 trillion been resolved? Global economy pushed in to meltdown on the back of an accounting error Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted August 8, 2011 Share Posted August 8, 2011 Problem reaction solution? With a loop back around as so far all their solutions have increased the size of the original problem. The shit is heading towards the fan and there isn't a damn thing we can do about it as individuals... Quote Link to comment Share on other sites More sharing options...
A.steve Posted August 8, 2011 Share Posted August 8, 2011 Has the issue of the $2 trillion been resolved? Global economy pushed in to meltdown on the back of an accounting error Sorry, didn't keep a reference - but I read that S&P said "Yes, that's a mistake... but it's not a relevant detail - downgrade stands." Sounds to me as if S&P's work was critically analysed by those with a partisan interest; the most damaging apparent anomalies highlighted - but these weren't enough to change the verdict. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted August 8, 2011 Share Posted August 8, 2011 Sorry, didn't keep a reference - but I read that S&P said "Yes, that's a mistake... but it's not a relevant detail - downgrade stands." Sounds to me as if S&P's work was critically analysed by those with a partisan interest; the most damaging apparent anomalies highlighted - but these weren't enough to change the verdict. Yep that's pretty much what they said. They also mentioned it's more to do with the fact the they argued so long over increasing the ceiling. They are worried that the US will not be able to take decisive action in future should it (when it) be needed. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 8, 2011 Share Posted August 8, 2011 The U.S. could have a dramatic bearing on the FTSE today. Yep another yo yo day, if the US decides to 5h1t a brick it's going to get interesting. Quote Link to comment Share on other sites More sharing options...
switters Posted August 8, 2011 Share Posted August 8, 2011 With a loop back around as so far all their solutions have increased the size of the original problem. Exactly. The thing is that the media and "experts" are at least one step behind the entire time. Take the recent AA+ rating. Exactly how can a nation or individual have debt that is "AAA" , when the interest on it could only be financed by taking more debt. IF you explain this to any numbskull on the street, they will instinctively understand that they're not going to be able to pay. Yet the ratings industry have been calling these countries AAA for several years?! That is why people say the ratings industry is a (bad) joke. Despite their complete failure to accurately identify risk in 2007/08, they are still accepted as some sort of economic soothsayer. The system is as bent as a £3 note. Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted August 8, 2011 Share Posted August 8, 2011 Yep another yo yo day, if the US decides to 5h1t a brick it's going to get interesting. DOW futures seems to be heading saaaaf quickly. -250 at the mo. Quote Link to comment Share on other sites More sharing options...
SHERWICK Posted August 8, 2011 Share Posted August 8, 2011 Exactly. The thing is that the media and "experts" are at least one step behind the entire time. Take the recent AA+ rating. Exactly how can a nation or individual have debt that is "AAA" , when the interest on it could only be financed by taking more debt. IF you explain this to any numbskull on the street, they will instinctively understand that they're not going to be able to pay. Yet the ratings industry have been calling these countries AAA for several years?! That is why people say the ratings industry is a (bad) joke. Despite their complete failure to accurately identify risk in 2007/08, they are still accepted as some sort of economic soothsayer. The system is as bent as a £3 note. Pretty much sums it all up. S&P are correct on one point though - the political process in the USA is a sick joke of a process and even more corrupt and bent than the financial system believe it or not. Just imagine, the entire House of Representatives (equivalent to our House of Commons) is voted in EVERY TWO YEARS, meaning they basically spend all their time in office trying to raise money to get back in office. It is very difficult to change this to as it would need a constitutional amendment - the last amendment took over two hundred years to ratify and there've been only 27 amendments in the US's history, with only 17 after 1791 (the Bill of Rights). Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 8, 2011 Share Posted August 8, 2011 Last Updated at 13:15 FTSE 100 5161.88 Down -85.11 -1.62% Looks like it's waiting to see what the Dow does and then it will follow. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 8, 2011 Share Posted August 8, 2011 Pretty much sums it all up. S&P are correct on one point though - the political process in the USA is a sick joke of a process and even more corrupt and bent than the financial system believe it or not. Just imagine, the entire House of Representatives (equivalent to our House of Commons) is voted in EVERY TWO YEARS, meaning they basically spend all their time in office trying to raise money to get back in office. It is very difficult to change this to as it would need a constitutional amendment - the last amendment took over two hundred years to ratify and there've been only 27 amendments in the US's history, with only 17 after 1791 (the Bill of Rights). Isn't democracy wonderfully efficient. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.