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Soul Reaver
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God this one is a right bear fest if ever I saw one LOL. Not sure if this has been posted and discussed already although I could not find it in search.

http://www.fsponline-recommends.co.uk/page.aspx?u=eob2&tc=EMYKNB65&PromotionID=2147068528&u=41310&a=5&g=0&r=MC&s=45346&o=43364&l=186209&

Thoughts on this little gem?

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God this one is a right bear fest if ever I saw one LOL. Not sure if this has been posted and discussed already although I could not find it in search.

http://www.fsponline-recommends.co.uk/page.aspx?u=eob2&tc=EMYKNB65&PromotionID=2147068528&u=41310&a=5&g=0&r=MC&s=45346&o=43364&l=186209&

Thoughts on this little gem?

Is that what it has come down to - hysteria marketing isn't it?

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God this one is a right bear fest if ever I saw one LOL. Not sure if this has been posted and discussed already although I could not find it in search.

http://www.fsponline-recommends.co.uk/page.aspx?u=eob2&tc=EMYKNB65&PromotionID=2147068528&u=41310&a=5&g=0&r=MC&s=45346&o=43364&l=186209&

Thoughts on this little gem?

I like Bill Bonner's rag as much as anybody else, but apart from the meteoric rise of gold from 2000-2010 he has not been right about much else TBH. Very funny geezer but talks his book like everybody else. Faber &Co are much the same in my book.

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I like Bill Bonner's rag as much as anybody else, but apart from the meteoric rise of gold from 2000-2010 he has not been right about much else TBH. Very funny geezer but talks his book like everybody else. Faber &Co are much the same in my book.

See my sig, we are much closer to this reality that when I first put it there years ago.

Nearly 50million on food stamps.

50/60,000 factories shuttered.

Edited by OnlyMe
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Clearly intentionally alarming ... but is that in content or in presentation?

Just look at this headline:

Argentinian president moves to nationalise Spanish-owned oil assets - April 2012

Now if you know anything about Argentina, you'll probably be thinking this sounds like confiscation of private assets to plug the deficits of a collapsed economy, much along the lines of their forcible conversion of bank held USDs to pesos, swiftly followed by conversion of pesos to 10 year fixed rate bonds with no early redeptions. Clearly, they are thieves, but what do you expect from a latin america?

Now look at this headline:

Hollande’s nationalisation threat to Mittal - Nov 2012

Now I can see the subtle differences as much as the next man, but when you boil it down, what you have is more or less the same story : state confiscation of private assets. But this time by a thoroughly european government.

And then you might consider the issue of confiscation of Hungarian private pension asset:

Hungary Follows Argentina in Pension-Fund Ultimatum, `Nightmare' for Some - Nov 2010

Hungary’s parliament has voted to approve the effective seizure of assets held in mandatory private pension funds - Dec 2010

Hungary Spends Half of Pension Assets, buying back debt, Vilaggazdasag Reports - Aug 2012

So an Eu country has done exactly what crack-pot Argentina has done in an attempt to extend and pretend. Close enough to home? Thought not. Try this then:

Budget 2012: £28bn of Royal Mail pension assets to pay down national debt - Mar 2012

And if this ain't worrying enough consider this : our genius chancellor, osborne, didn't just rob a pension fund to short-term fiddle public finances, he picked one that is actually gonna increase our liabilities long term :

Royal Mail pension nationalisation: Far from providing a windfall, it turns MPs into hypocrites and the rest of us into debtors - Mar 2012

Now do we see where we are headed?

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They seem to have missed how the government actually plans to deal with the situation: inflation!

The debts will be evaporated at a gentle 3% per year forever. Our powers-that-be are much more subtle than they were in the 1970s or any ruler of Argentina has ever been. We still have a AAA credit rating (albeit on negative outlook.) Our standard of living will simply slide lower and lower. TPTB will do their utmost to avoid a "trigger event". Any failing institutions will be propped up with government money garnered from QE. The housing market will be propped up with cheap money, forbearance, and immigration. The job market will be propped up with dodgy A4E get-people-to-work schemes.

And one day paper money will be worth paper; land will still be land, and gold will still be gold.

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