G0ldfinger

The German Federal goverment, the states and its councils have together debts of EUR 1,553,100,000,000. That is EUR 18,880 per person. http://www.spiegel.de/politik/deutschland/...,557182,00.html

http://www.housepricecrash.co.uk/forum/ind...t&p=1147037 Thanks for scaring me. Being such a sage can you offer practical advice for protecting savings? I know nothing about shares etc. I have approx £40k - £12k in ISAs and the rest in an e-save account (Barclays) soon moving it to Kaupthingy. I seem to be going round in circles... huh.gif This is so funny! Maybe someone who still posts over at HPC wants to enlighten all_ears. If he/she is just shifting around fiat currency from one turd bank into another, it won't help. He/she should go for REAL default-risk free money.

Yeah, just buy and hold. But I try to time my buying somewhat reasonably. Man, these former B&B customers buy lots of the yellow stuff really! Something seems to have scared them.

I think someone just cleared their B&B account and put it all into gold. +$10 in an hour, not too bad.

So, B&B is doing a NR now (this time secretively)? A&L next? Then HBOS and RBS, of course. Up to their eyeballs in UK mortgages. Oh dear.

The loonies have taken over the HPC-asylum. Glad that I am not wasting my time over there anymore. Just look at this response to Errol's remark. Absolute rubbish. 1 currencies loss is anothers gain. Gold is a bad investment. If you want to protect yourself buy a basket of currencies and you wont lose.

The US economy would just fall off the cliff. Helicopter Bernanke won't do this.

One solution for the rating agencies is to officially go schizophrenic. Moody's has already done so. For them, MBIA (I think) is Aaa and Caa1 (or so) at the same time, I read recently. :lol:

I really think we could see gold $1,200 and silver $30 before year end.

http://gold.approximity.com/gold_analysis.html

Alright. Saudi nobility has decided that they want to go down with the US. http://www.bloomberg.com/apps/news?pid=206...&refer=home

Come on guys. Even Jim Sinclair is allowed to make a sarcastic joke every now and then.

Nice to see they don't really believe their own ratings. http://www.bloomberg.com/apps/news?pid=206...&refer=home Moody's Implied Ratings Lab Reveals Ambac, MBIA Turning to Junk

Sinclair is very confident and very informed. I have all reason to give a lot of weight to his word. On the other hand, he seems to believe in an Indian Guru who tricks people with 'materializations' and funny things like that. I know people with similar beliefs and personal philosophies Sinlair has hinted at, and they can lead to the presumption/imagination of personal infallibility and omnipotence. You have to watch out for signs. BTW, I do not say that Sinclair claims these abilities. And I do think he does a great service to the public.

http://www.tickerforum.org/cgi-ticker/akcs-www?post=46513 :lol: That's it! EDIT: http://www.marketwatch.com/news/story/fed-...p;dist=hplatest Of course! The Fed would only and ever print up money to hand out in return for the safest and most bestest securities ever, of the safest and bestest-managed banks ever. Because those are the banks who desperately need those loans anyway.

It's totally amazing how quiet the press is keeping over this: The main gauge of global finance is pure fantasy - and no one cares. I am talking of course of LIeBOR. Why does no one care? My guess is because everyone who understands simply knows anyway. But everyone is trying to keep the ball in the air: the banks try to prevent runs, central banks try to keep the fiat system from collapsing, and the pension funds don't really want to tell their customers already that they will be pure in their old age. The important thing to keep in mind is: it will still happen. In particular because people KNOW anyway, and just close their eyes for the time being. Got gold?

Why buying paper? Buy the real stuff. If you need more leverage, buy silver or mining shares.

That would be THE buying opportunity of the decade! Too good to be true IMO.

REAL money.

I can imagine nominal falls of 30%-50%. In terms of inflation-adjusted prices, we will surely see 1996 levels (see also my signature ). Yes, why not starting with the coins. A perfect dip to start buying now. I only hold physical. I have coins, and store gold and silver with BullionVault and GoldMoney. For each 1 oz gold I hold around 50oz silver. To quote James Turk, if gold is like flying a B-747, silver is more like an F-14. You've seen how it dropped from $1,030 to $860 or so. That's the kind of volatility you have to get used to.

http://www.telegraph.co.uk/money/main.jhtm...C-mostviewedbox It's all going pear-shaped. Got gold?

I think major buying comes in at $875-$880. But we'll see.

Yes, it's that simple. These people queueing at Northern Rock were totally unaware of this. Same thing with many of my colleagues. There shifting their money around like headless chickens, instead of buying the real stuff.

Spain going a little bankrupt and selling physical?

This is worse than even I ever could have imagined! House prices: -2.5% in one single month! -4.4% year on year already! CRASH & BURN. Keep in mind, we are only half a year into this crash! Scotsmen, make no mistake: like many other nasty things that came up from England, this will not stop at Hadrian's Wall. As far as practicable, I would strongly advise everyone to get their assets out of anything related to the UK ASAP. UK banks are up to their eyeballs in UK property, and so is the UK consumer. That means everyone will lose money, consumer spending falls off the cliff, tax revenues shrink, the government deficit will explode, and Sterling will be flushed further down the toilet. This however will increase price pressures on the consumer, and the vicious circle is perfect. Note that Turdling/Sterling was one of the few currencies recently that slumped even faster than the US Dollar. This is a malicious double whammy for home owners. As George Soros says, this economic slump will be worse than the 70s. Biggest boom ever, biggest bust ever. Here is the bright side: - The average house owner now loses £5,000 per month. If you're not a house owner, think of all the money you don't lose! - Houses will be EXTREMELY cheap in 5-10 years time, and affordable in 2-3 years time. Cash buyers will rule. - Money is to be made in hard assets (commodities, energy, food). - Inflation will rage. Precious metals are your lifeboat. - House price crashes can be fun, simply watch this here (from the early 90s crash): http://www.youtube.com/watch?v=2t8YTvdYXws Spare a thought for the property speculators who now lose £25,000 per month per every million in property value. I almost start crying. GF http://www.bloomberg.com/apps/news?pid=206...&refer=home