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Seems to me we are about to see another banking crisis. 

My main reason for thinking this is the gold price going to the moon. 

 

Any thoughts? 

Anyone think we'll see one go under?

 

 

Edited by TheCountOfNowhere
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Was one banking crisis thread (Nationwide) not enough for one day? The banks are fine! Gold is speculatively being driven up but will fall back before long. Nonsense threads like this with dramatical titles just ruins this forum. 

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dirtysteve you couldn't be further from the truth... NOTHING is fine. Q4 2019 was the start of the second leg of the 2008 financial crisis... and what was a banking crisis is now a sovereign debt crisis... Cue - debt monetisation and bond market failures.

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8 hours ago, dirtysteve said:

Nonsense threads like this with dramatical titles just ruins this forum. 

No it doesnt...if its a nonsense thread the OP just gets told and the thread dies. Part of the learning process for the OP and us all.

This is one of the few places I know of without a "safe space" policy.

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Posted (edited)
9 hours ago, dirtysteve said:

Was one banking crisis thread (Nationwide) not enough for one day? The banks are fine! Gold is speculatively being driven up but will fall back before long. Nonsense threads like this with dramatical titles just ruins this forum. 

NW's not a bank.  The NW thread was about job losses and them writing off loans.  

Edited by TheCountOfNowhere
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32 minutes ago, Roman Roady said:

No it doesnt...if its a nonsense thread the OP just gets told and the thread dies. Part of the learning process for the OP and us all.

This is one of the few places I know of without a "safe space" policy.

The whole forum is indirectly about the banks.  People have been rushing into gold for several months now, they dont see the $/Stock markets/banks as safe.

If this doesn't kill one of the banks I'll be surprised.  Was talk this week of a large EU bank going under.

Crazy times.

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9 minutes ago, Neapolitan said:

Just out of curiosity: 

 

could the bank start calling all these IO mortgages?

Seems not unless it's a commercial loan or people are defaulting.  Not sure how anyone can make the interest payments on a 0% I/O loan :lol: 

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10 minutes ago, TheCountOfNowhere said:

The whole forum is indirectly about the banks.  People have been rushing into gold for several months now, they dont see the $/Stock markets/banks as safe.

If this doesn't kill one of the banks I'll be surprised.  Was talk this week of a large EU bank going under.

Crazy times.

In reality though... 

Theres been a 30% speculative upside swing in gold prices which as a tradable market (total notional volumes monthly) is utterly insignificant comapred to equities, debt, cash etc

Its like saying tesco will go bust because there's a que outside the local corner shop

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4 minutes ago, captainb said:

In reality though... 

Theres been a 30% speculative upside swing in gold prices which as a tradable market (total notional volumes monthly) is utterly insignificant comapred to equities, debt, cash etc

Its like saying tesco will go bust because there's a que outside the local corner shop

Nice summary.

 

3 minutes ago, Warlord said:

Fiat money systems  always crash in the end. Look at history. We need to get back on the gold standard. We will soon be! 

 

All societies crash in the end.  The sun will burn out in the end.

The Gold Standard is a myth of the 'wonderful days of yesteryear'.  It just puts political and economic power to whoever has the shiny stuff, not whoever is the most adaptive and productive.

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4 minutes ago, Neapolitan said:

Sorry if I wasn’t clear enough in my message. 
 

Could a bank unilaterally inform a e.g.: BTL or BTL Ltd they want some of the principal to be paid back as well as the interest? Hence turning a IO mortgage into a repayment one? 

Typically not. Although there might be a product out there which allows it but never heard of it.

What can and does happen is at the end of the agreed fixed term rate, the bank won't allow a new term rate on an interest only basis but wants a repayment basis. 

If that happens the borrower goes back to the mortgage broker and tries for another lender

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Just now, msi said:

Nice summary.

 

All societies crash in the end.  The sun will burn out in the end.

The Gold Standard is a myth of the 'wonderful days of yesteryear'.  It just puts political and economic power to whoever has the shiny stuff, not whoever is the most adaptive and productive.

We will be back on the gold standard soon whether you like it or not. Gold is money and confidence will go in the pound and the people or international markets will demand it. Wait and see.

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3 minutes ago, Warlord said:

Fiat money systems  always crash in the end. Look at history. We need to get back on the gold standard. We will soon be! 

 

Define "crash" with regard to fiat money systems.

Though I haven't had time to look back at the entire history of the world this morning I could name a handful of currencies that have been wiped out.

There are a lot more that have lasted quite well.

The word "always" wouldn't seem to apply here. Yet.

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1 minute ago, Warlord said:

We will be back on the gold standard soon whether you like it or not. Gold is money and confidence will go in the pound and the people or international markets will demand it. Wait and see.

Ahem.. Gold is money? 

So what happens if someone mines a lot of it? Ala spanish in the 16th to 19th centuries. 

I think you might be waiting a long time for your gold standard... 

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Just now, Bluestone59 said:

Define "crash" with regard to fiat money systems.

Though I haven't had time to look back at the entire history of the world this morning I could name a handful of currencies that have been wiped out.

There are a lot more that have lasted quite well.

The word "always" wouldn't seem to apply here. Yet.

Fiat money systems always end . Look around the world and in history . Greed, graft, politicians and corruption always take hold and they can;t help themselves but to print and devalue. 

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Just now, Warlord said:

Fiat money systems always end . Look around the world and in history . Greed, graft, politicians and corruption always take hold and they can;t help themselves but to print and devalue. 

Sterling hasn't ended, yet. US$ hasn't ended, yet. European currencies became the Euro because the EU existed not primarily because they failed in any other way.

The statement that Fiat money systems always end is not true, so far.

It's exaggeration and inaccurate generalisation.

Convince me otherwise.

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2 minutes ago, Bluestone59 said:

Sterling hasn't ended, yet. US$ hasn't ended, yet. European currencies became the Euro because the EU existed not primarily because they failed in any other way.

The statement that Fiat money systems always end is not true, so far.

It's exaggeration and inaccurate generalisation.

Convince me otherwise.

The current fiat system in place since 1972 will come to end . There will be a reset and everyone will go back to the gold standard (or silver). We are long overdue this.

Why do you think gold is rising to record high's and sterling is falling to record lows ?

 

Edited by Warlord
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4 minutes ago, Warlord said:

Fiat money systems always end . Look around the world and in history . Greed, graft, politicians and corruption always take hold and they can;t help themselves but to print and devalue. 

You still haven't defined "crash" in this context.

If you're telling me that almost all fiat loses value because politicians use it to buy your votes with unsustainable bribes then you are correct.

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Just now, Bluestone59 said:

You still haven't defined "crash" in this context.

If you're telling me that almost all fiat loses value because politicians use it to buy your votes with unsustainable bribes then you are correct.

Why do you think gold is rising to record high's and sterling is falling to record lows ?

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  • 417 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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