TheSunniTriangle Posted March 29, 2006 Share Posted March 29, 2006 Kitco price touched $575....Is this the end of the correction and now we are heading to $625! Anyway it is for sure going to $650 - $700 by the end of this year...God Knows best. Quote Link to comment Share on other sites More sharing options...
Minos Posted March 29, 2006 Share Posted March 29, 2006 Kitco price touched $575....Is this the end of the correction and now we are heading to $625! Anyway it is for sure going to $650 - $700 by the end of this year...God Knows best. Lets hope the pound does us proud too and keeps dropping against the dollar. Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 29, 2006 Author Share Posted March 29, 2006 Lets hope the pound does us proud too and keeps dropping against the dollar. Eveytime the FED raises its interest rates we add $50 to $60 to the POG. I bet top investors know the train wreck on its way. I loaded up pretty heavy on this current bottom of $440 - $445 as I had a gut feeling that I would not see £315 or even £300 POG. Anyway if it does pullback to £315 I will load even more but this is looking very remote now. I believe this correction caught many by surprise. Will see..... Quote Link to comment Share on other sites More sharing options...
Guest Riser Posted March 29, 2006 Share Posted March 29, 2006 Kitco price touched $575....Is this the end of the correction and now we are heading to $625! Anyway it is for sure going to $650 - $700 by the end of this year...God Knows best. Wow what a day, pity I sold half my gold longs last week but still pleased as my unallocated silver and palladium holdings are doing well. Good call those who bought on the last dip Quote Link to comment Share on other sites More sharing options...
Mr_Nice Posted March 29, 2006 Share Posted March 29, 2006 Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 29, 2006 Author Share Posted March 29, 2006 Wow what a day, pity I sold half my gold longs last week but still pleased as my unallocated silver and palladium holdings are doing well. Good call those who bought on the last dip As long as half my capital has already been invested in Gold. I Will buy at $500 I Will buy at $600 I Will buy at $700 I Will buy at $800.... Never too late to start investing. I am not allowed to eat bank interests therefore Gold is my only option. Not looking for profits only to protect my purchasing power from my hard earned cash. Anyway inflation adjusted POG is around $1750 currently. For God's sake even bus tickets are nowdays inflation adjusted except gold. Leave them the more they suppress the POG...the better it is for us and worse will be at the end for them. Quote Link to comment Share on other sites More sharing options...
needle Posted March 29, 2006 Share Posted March 29, 2006 Kitco price touched $575....Is this the end of the correction and now we are heading to $625! Anyway it is for sure going to $650 - $700 by the end of this year...God Knows best. ...and...what... God told you this? He didnt mention me did he? If youre talking to him again could you ask him to look into that 3-chicks-in-a-bed fantasy I asked him for last year? Did he say anything about BT shares Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 29, 2006 Author Share Posted March 29, 2006 ...and...what... God told you this? He didnt mention me did he? If youre talking to him again could you ask him to look into that 3-chicks-in-a-bed fantasy I asked him for last year? Did he say anything about BT shares Go to Hell Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 29, 2006 Author Share Posted March 29, 2006 Why the commodities boom is different this time. “This is a boom that’s going to run for a decade or more – which makes producers of energy resources and metals cheap at current valuations. Kenneth Rogoff, professor of economics at Harvard, even goes so far as to forecast: “FOR AT LEAST THE NEXT 50 TO 75 YEARS, PRICES FOR MANY NATURAL RESOURCES ARE HEADED UP.” “However, it’s not future demand growth that’s at the core of the bulls’ case for commodities – it’s that SUPPLIES ARE NOT GOING TO INCREASE ENOUGH TO MEET ADDITIONAL DEMAND.” “If you don’t already have a substantial share of your equity portfolio in energy resources, precious metals and base metals, do some switching into them now.” Quote Link to comment Share on other sites More sharing options...
shavedchimp Posted March 29, 2006 Share Posted March 29, 2006 “If you don’t already have a substantial share of your equity portfolio in energy resources, precious metals and base metals, do some switching into them now.” What's the best and simplest way of doing this? Please try and explain it to me as though I were a 4-year old. Thanks Shavedchimp Quote Link to comment Share on other sites More sharing options...
needle Posted March 29, 2006 Share Posted March 29, 2006 What's the best and simplest way of doing this? Please try and explain it to me as though I were a 4-year old. Ok I'll have a go at explaining to a 4 year old... If you dont know what youre doing.....dont go on the internet seeking advice......from complete strangers about how to spend your money. There. Hows that? @ SunniTriangle - lighten up. Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 29, 2006 Author Share Posted March 29, 2006 (edited) What's the best and simplest way of doing this? Please try and explain it to me as though I were a 4-year old. Thanks Shavedchimp Read and research your investment as much as you can mate. educate yourself with economics. Invest in small amounts if you are a worried person. It takes time to get used to it. I invest in gold purely because of my islamic belives. I can not eat banking interests as it is evil. Banks are evil in that they make money out of thin air in 2 minutes using their printing presses while you spend your lifetime saving for the same amount. It is not honest money. I do not want to bombard you with my radical views but Banks are their to control the masses with their evil money lending machines. The rich with the printing presses getting richer while the poor keep getting poorer in interest repayments. Mortgage = Death Trap (latin) Interest payments is evil and forbidden by Islam. Gold and Silver is the money in my system. AND WHOEVER here going to make anti-islam comments can go to hell. Anyway mate. I have Pm'd with the links required. Edited March 29, 2006 by TheSunniTriangle Quote Link to comment Share on other sites More sharing options...
crudeFool Posted March 30, 2006 Share Posted March 30, 2006 <snip> Mortgage = Death Trap (latin) Interest payments is evil and forbidden by Islam. Gold and Silver is the money in my system. AND WHOEVER here going to make anti-islam comments can go to hell. <snip> Hi TST I may not agree with your religion (on any religion for that matter), but I certainly agree with your views on banks and gold... Regards, crude Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 30, 2006 Author Share Posted March 30, 2006 there is no compulsion in religion. Verily, the Right Path has become distinct from the wrong path. Whoever disbelieves in Taghoot and believes in Allah, then he has grasped the most trustworthy handhold that will never break. And Allah is All-Hearer, All-Knower. (Quran, Al-Baqara, Chapter #2, Verse #256) No worries Crude. I get carried on with my posts sometimes. You have the choice and freedom to do your own research. We are living in a confusing world. The lier is at the top while the truthfull is down below. The evil brought to the forefront while the good is sent to the back. The falsehood is widespread while the truth.....! Quote Link to comment Share on other sites More sharing options...
Golden Shower Posted March 30, 2006 Share Posted March 30, 2006 Full-on break out over the last couple of days. I'm gonna have to stop taking the p*ss out of gold bugs now! Quote Link to comment Share on other sites More sharing options...
Yandros Posted March 30, 2006 Share Posted March 30, 2006 TheSunniTriangle - i just poked my head into this thread out of passing interest, but I'm now curious about your comments. I knew about the Islamic prohibition regarding interest payments, from news articles about the specialised mortgage products available to you to enable you buy property, but I'm kinda curious about the broader picture. I'm a non-muslim, but the idea of prohibiting getting something for nothing, or making money by exploiting others, seems perfectly correct (and a sentiment pretty common I suspect on HPC) Does the restriction on receiving interest cause you problems when keeping up with inflation, since surely the true value of your savings would be falling in real terms? What about pensions? By contrast, would the BTL brigade, with there portfolios of appreciating properties (that in a fairer world should be owned by FTBs) be permitted? There's no interest involved, but an awful lot of 'money for nothing'! Quote Link to comment Share on other sites More sharing options...
BTman Posted March 30, 2006 Share Posted March 30, 2006 Mortgage = Death Trap (latin) I never knew that... very interesting... Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 30, 2006 Author Share Posted March 30, 2006 TheSunniTriangle - i just poked my head into this thread out of passing interest, but I'm now curious about your comments. I knew about the Islamic prohibition regarding interest payments, from news articles about the specialised mortgage products available to you to enable you buy property, but I'm kinda curious about the broader picture. I'm a non-muslim, but the idea of prohibiting getting something for nothing, or making money by exploiting others, seems perfectly correct (and a sentiment pretty common I suspect on HPC) Does the restriction on receiving interest cause you problems when keeping up with inflation, since surely the true value of your savings would be falling in real terms? What about pensions? By contrast, would the BTL brigade, with there portfolios of appreciating properties (that in a fairer world should be owned by FTBs) be permitted? There's no interest involved, but an awful lot of 'money for nothing'! You welcome to come by and you welcome to ask. One of the first laws sent down to mankind from the seven heavens was to stop usury. Usury (interest) is one of the worst crimes in the sight of God. There are many versus where God has given stern statments regarding the taking and giving of usuray. These verses were sent down 1400 years ago and to this day you see the turmoil these practises cause to families in our world. There was a man in UK jumbed off the cliff. comitted suside and left behine some kids and wife because Halifax would not allow him to pay off the last £5000 in interest repayments. He lost his job and Halifax bank threatened to take his house away over £5000 and leave his kids homeless. Therefore this is only one example happend in the last month or two. The current products offered that are not interest based are still forbidden. The greedy banks are lying to the masses yet again. Can you have an islamic PIG? a pig is a pig no matter how much you try to package it to make it look something else. A mortgage is a mortgage no matter what they say. You see God know what is good and what is good for mankind. Therefore Thousands of statments sent 1400 years ago apply to our reality today with 100% accuracy. Jesus Peace be upon him was outraged when he learned of the practise of usury in his time. As for pensions, ISA's, etc are not allowed for me as they all invlove interests. LOL I know some old generation Pakistani man that fasts and prays like a horse but has 7 to 10 mortgages up to his eyeballs (BTL). What a fool and what an ignorant ass donkey. The only think I will put my trust in is gold. I converted many 10's of thousands into gold. gold is precious and God's creation is precious too. man paper money is destined to distruction. My dad in Iraq had around 6 million iraqi dinnar with ugly saddam on it. In 1998 before coming to UK for holiday 3 dinnars used to buy 1 pound. A month after 1991 4000 dinnars buys you 1 pound. I would have been millionair with 3 million pounds but my dad was busy counting then thinking. Therefore there is a statment from our scriptures " A beliver would never be bitten from the same hole twice" Gold goes high then fair enough. Gold goes down then oh well I was not meant to have that paper money. Quote Link to comment Share on other sites More sharing options...
Guest Riser Posted March 30, 2006 Share Posted March 30, 2006 I would rather we left religion out of debates on HPC you just have to look around the world to see what damage it has done the the relationships between countries and their people. Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 30, 2006 Author Share Posted March 30, 2006 I would rather we left religion out of debates on HPC you just have to look around the world to see what damage it has done the the relationships between countries and their people. I was aked a question and I answered. Ignore my posts if you want or ban me for that matter! The history of mankind has the real nasty of people that mankind come to know. The rightouse warriors will battle and the evil forces will engage too. I will be living in a fanticy world if there was no battles. The young beautiful prophet DAVID would give you some lessens in what the purpose of this world is. I do get carried on with my own posts and threads and my life disscussion with people and you will be not be able to stop my habit unless you ban me Quote Link to comment Share on other sites More sharing options...
Yandros Posted March 30, 2006 Share Posted March 30, 2006 I would rather we left religion out of debates on HPC you just have to look around the world to see what damage it has done the the relationships between countries and their people. I quite agree. In this case though, I thought that the issue of the 'something for nothing' culture (ie increasing house equity, BTL easy money, and how easy it is for people to drown in massive debt), made the Islamic view rather interesting and 'on topic' (though not in this thread admittedly). I merely asked a question, rather than started a argument. Ignorance has also caused many of the worlds ills Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 30, 2006 Author Share Posted March 30, 2006 Youndras.....I will promise to leave you now with these two articals. Sorry to change the topic of my own thread. Looking to Buy a House? The desire for economic security is a fundamental aspect of human nature. In society, the distribution of resources and commodities is regulated by the governing authority, which runs affairs according to the particular ideology that the rulers have chosen for the purpose - in our case, Capitalism – the Deen of the Kuffaar. Accordingly, the people are restricted and controlled by the systems which prevail over them, and must fulfil their economic needs within the framework of these systems. The issue of our housing is an important aspect of the economic system that we are subject to. We all need a house to shelter from the elements and as a base for our everyday activities. But, if you think for a moment about your own situation living in the West, housing throws up many problems.... The price of even modest accommodation is staggering. If you take a house suitable for an average family (like your own), the cost of buying it would range from about £50,000 to £120,000 or more, depending on its location. This figure of course, goes far beyond the actual cost of the materials and labour required to build it. In fact, it is usually artificially inflated to create a source of business for banks and building societies from people who have to deal with them in order to buy a house. Consider yourself. You have to provide for your family - food, clothing, bills, and education etc. and even after all of these are taken care of does your income put you in a position to afford to buy a house? Almost certainly not! So what are the options available to you? Renting: This will give you housing, but would you feel satisfied with living with your family in rented accommodation? Most people would not. After all this gives no security for your future - you may have to move from place to place, depending on the whims of a landlord. This affects your job, your children’s education and so on. The landlord may choose to raise the rent as he pleases. As well, a large proportion of your income would go towards something for which you have no permanent possession. And since you do not actually own the place, you will have no incentive to spend on it to furnish and decorate it as you like - to turn the house into a home. In all, renting is unsatisfactory - you can never really see a rented home as your own home. Mortgage: This option seems to be the only feasible alternative. In fact this is the system that most people use in your predicament. In theory, you own the house you live in, paying for it slowly as your income allows, and it appears to solve many of the problems with renting. Unfortunately, the reality of mortgage does not match its theory. It is riddled with even more problems than renting. Suffering the Pains of the Mortgage Gamble: 1. With a mortgage, you don’t really own your house. You have to give the regular monthly payments on time, and if you miss even one, you can be subject to repossession of your home. This is whether it is your initial payment, or your last! 2. Your payments do not mainly contribute to the value of your house. Rather you are paying a large proportion towards the interest on the loan you have taken. 3. The payments are subject to the whims of the mortgage company - they can increase or decrease the rates of interest at will, without any discussion with you. 4. Most people never live to actually pay off their mortgage completely and thus really own their house. Thus, they never have anything to pass on to their children. 5. House prices are subject to such fluctuation that the value of the house could drop within a matter of years to even as much as half of the value you bought it for! So you may be paying a debt which you could not recover even if you sold your house! However, more important than any of these reasons, is Islaam’s opinion on mortgage: Getting a mortgage (based on interest) is definitely and clearly haraam (forbidden) to Muslims. The paramount reasons being that: 1) The Muslim has to borrow money on interest. Allaah (swt) and His Messenger (saw) have forbidden the taking and giving of interest on money. Allaah (swt) says in the Qur’aan: "Those who benefit from interest shall be raised like those who have been driven to madness by the touch of the devil; this is because they say: ‘Trade is similar to interest’ while, Allaah has permitted trade and forbidden interest." (EMQ al-Baqarah, 2:275) Allaah (swt) also says: "O you who believe, fear Allaah and give up the interest that remains outstanding if you are believers. If you do not do so, then be sure of being at war with Allaah and His Messenger. But if you repent, you can have your capital. Neither should you commit injustice nor should you be subjected to it." (EMQ al-Baqarah, 2:278-279) Jaabir (ra) also narrated: "The Prophet (saw) cursed the receiver and the payer of interest, the one who records it and the one who witnesses it and he said, ‘They are all alike’." (Saheeh Muslim, at-Tirmidhi and Ahmad). Abu Hurayrah (ra) also narrated that the Prophet (saw) said: "Ribaa (interest) has seventy segments, the least serious being equivalent to a man committing adultery with his own mother." 2) The contract of purchase does not satisfy a fundamental condition in Islaam. In Islaam, if you buy a house, you own the house. In the mortgage agreement, you do not actually own the house but the financial institution owns it until you pay all of your mortgage. You can be kicked out if you fail to keep up with your mortgage payments and all is lost! Thousands of people lost their homes in this way over the past few years, and thousands more will no doubt follow. We can see therefore, that this simple issue of housing causes us many dilemmas. However, the Economic System of the Islaamic state has solutions to these problems. The Islamic Alternative In the Khilaafah (Islaamic state), it is the right of every individual to have shelter. The Prophet (saw) said: "The son of Aadam has no better right than that he would have a house wherein he may live and a piece of cloth whereby he may cover his nakedness and a piece of bread and some water." It is therefore the responsibility of the State to ensure that everybody has accommodation to live in. So, if you are unable to provide accommodation or sustenance for yourself or your family, the Islaamic State will provide these for you free of charge, for as long as you remain in that position. Because of this, the State would devise a deliberate policy to ensure that affordable accommodation is available through extensive home building both by the State and by private individuals who may want to build for profit. The State achieves this responsibility by the implementation of schemes that take full account of individual circumstances, needs and ability when deciding the type of help to give citizens. Thus, if you want to buy a house, the Islaamic Economic System provides you with various mechanisms of helping you to do this. These include: 1) Gift from the State: The Khaleefah (Caliph) can give land to you for private use which could include home building. By such grants, it makes it easier for you to provide shelter for you and your family. Such a grant was given to Bilaal (ra) by the Prophet (saw) as the ruler of the Islaamic State. The Khulafaa' (Plural for Khaleefah) who followed the Prophet (saw) continued with such grants. The State can also give direct financial assistance to the poor and needy for housing purposes, and indeed it is compulsory for the State to provide this for them. 2) Interest-free loans from the State: If you are able-bodied and working, the State can provide interest-free loans for housing. This is in response to the State’s responsibility for provision of shelter to all citizens. 3) Payment by instalments: As an alternative to interest free loans, the State can offer to you accommodation for sale with affordable means of payment. The above are actions that the Khaleefah can undertake to provide housing as a matter of duty to citizens of the Khilaafah whether Muslim or non-Muslim. In addition to these, there are other means through which you may get a source of funding for housing. The Khaleefah would encourage these private sector sources in order to facilitate its responsibility. These include: 1) Interest-free loans from the rich. You could approach wealthy people in the State like businessmen, to secure such a loan. The rich would be encouraged to provide interest-free loans for housing. 2) Deferred payment: Owners of existing properties can sell them to you for a fixed price in the future. The price can either be the same, more or less than the current price, and you could delay payment to such a time when you are able to pay. 3) Awqaaf: These are philanthropic institutions set up by individuals to provide housing and other schemes. They give these up for the benefit of the public, for the sake of Allaah (swt). You could apply to these institutions for housing. There is no concept of repossession of property in the Islaamic State. In any of the above means of funding for buying a house, as soon as the contract is agreed, the house becomes entirely your own property. You are free to sell it or keep it as you like, and no one is permitted to take it from you. All that you are responsible for is your debt to the creditor. Thus, the Islaamic State provides a comprehensive Economic System which solves the problem of buying a house. But there is no Islaamic State today! Indeed, more the reason to work for it! Hundreds of Muslims are working to overthrow these corrupted, Kufr, Taaghout regimes, which are preventing the justice of Islaam to reach every corner of the earth. However, the Messenger of Allaah (saw) has prophesised that this Deen (Islaam) will dominate the east and the west, therefore it is just a matter of time when the Sharee'ah becomes implemented, and the darkness of the Kufr and Shirk (Democracy and Freedom) is annihilated. But this doesn’t mean that we just sit back and wait for the Islaamic state. Rather, it is an obligation upon every Muslim, male or female, to work for the Islaamic state and reject the Tawaagheet. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 30, 2006 Share Posted March 30, 2006 It's a bit like football, really. You're either a Red or a Blue. Quote Link to comment Share on other sites More sharing options...
TheSunniTriangle Posted March 30, 2006 Author Share Posted March 30, 2006 (edited) Yondras.......This is the second artical and that is it no more from me for a long time promise. Which society would you prefer: Islamic or Capitalist (Democratic, i.e. Non-Islamic)? Islamic Society No Mortgages Islam forbids dealing with interest, so people wishing to purchase houses, or take out loans will not be required to pay any interest whatsoever. No homelessness on the streets The Islamic government is obliged to provide food, shelter and clothing for all citizens, if they do not have any. In fact Muslim countries used to build hotels for travellers to stay for FREE! No Inflation Because the Islamic economic system is based upon gold reserves, the prices of commodities remain stable. No VAT Islam does not put taxes on unnecessarily. No pollution Islam will ensure the environment in which we live is safeguarded; from the Ozone layer to the Amazon rainforests. No lying, deceiving politicians The Islamic ruling system is one which enforces the law of Allah, so politicians don't have to lie about their policies. The Islamic ruler, who is called the Khaleefah, is not in for a four or five year term, but for as long as he can fulfil his responsibilities. Reduced robberies The Islamic punishment for the thief ensures that thieves will think twice. Reduced rape In an Islamic environment, women are honoured and not paraded as mere sex objects for the desires of men. Any sexual offender will receive harsh enough punishment to ensure it cannot recur. No racism Muslims are so diverse, from Turkish, Arabs, Asian, far Eastern, Chinese, African and Europeans. This is aided by Islam being the fastest growing belief in the West today, with many people accepting Islam each day. The Muslims are one brotherhood. Capitalist (un-Islamic) Society Mortgages and high interest rates The average family in the UK is steeped in interest, which they will be paying off for the rest of their lives. In many cases, it is the cause of robbery, or other crime. Homeless people living on the streets Homelessness is now a feature of modern Britain (and Europe), with the only concerted effort to house the homeless is for a few days over Christmas. The rest is left to independent charities. High inflation A litre of petrol or a can of drink would have cost half the price 10 years ago. 17.5% VAT The average Briton pays 17.5% extra tax on many items. Rampant pollution In capitalist countries there is little or no regard for the environment in which we live. Lying, deceiving politicians There is no doubt about it that Western politicians are liars, “Read my lips, no more taxes”, “I did not have sex with that woman”, “I knew nothing about the shipment of arms to Iraq… or arms shipments to Sierra Leone…” etc. Excessive robberies The latest figures from the British police confirm that robberies and burglaries are dramatically increasing every single year. Epidemic proportions of rape Last year saw thousands of convictions for sex offences, ignoring the thousands that went unreported. There is no doubt that as the pornographic nature of this society flourishes, so will sex offences. Racist society There is no doubt that the Western world is arrogantly racist, regarding the Third World citizens as inferior. Despite all the rhetoric or anti-racism, even the police forces are known to be institutionalised racists. It's a bit like football, really. You're either a Red or a Blue. Edited March 30, 2006 by TheSunniTriangle Quote Link to comment Share on other sites More sharing options...
last ninja Posted March 30, 2006 Share Posted March 30, 2006 SunniTriangle, that's an interesting perspective, thanks. I've read somewhere of Islamic mortgages that involve the bank buying the house you want, then selling it to you at a higher price, giving you the option to pay over a long period. Is this a common practice, and how does it fit with those who want to follow the spirit of Islam and not just the letter? Quote Link to comment Share on other sites More sharing options...
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