ziknik

P.S. I note HIPS will be abandoned. If that tempts a lot more speculative sellers into the market and so crowds supply, then so much the better!

Abandoning HIPS may add £500-800 of searches on to the 'up front money' needed to purchase a house.

This could move the demand curve back by a few months too.

I agree!

Inflation is NOT going to help, if your income is being cut.

 

People who talk about "inflating away the debt" in an environment like this are "smoking something."

The debt burden only eases if rates drop, or your income rises. I dont see either of those happening

in the present environment

Do you see wages being suppressed for 25 years?

It's important to remember that 'inflating away the debt' can happen at any point in the life of the debt. It doesn't have to happen tomorrow or next week or next year.

I'm going long on WTI

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The All is your inflection and not mine.

 

I wasn't bashing, I was stating how situations are perceived by others especially the situation Riggers was discussing, and I was trying to put forward the view from the other side.

 

The banker at the upper end of the scale sees the right to a bonus, the cleaner at the bottom sees the right to cream the system at the other end using invalidity benefit. Bizarrely, both now seem to be funded by the tax system

I don't think you want a multi-page slanging match any more than I do. I'll end by putting forward my own view from the other side:

Working class people are happiest when they are able to take home an honest days pay for an honest days work. [insert house price / salaries ratio comment to keep post on topic]

Why bash my peers

Why are you bashing your peers?

Maybe I am miss reading your post. This is how I am interpreting your post

All working class people see invalidity benefits as the ‘mini-lottery’

...

Mr Invalid maybe one of the latest ‘stressers’ or just one of the others that have won the ‘mini-lottery’ ticket to invalidity benefits because that is how the working class see them.

...

Mr Invalid maybe one of the latest ‘stressers’ or just one of the others that have won the ‘mini-lottery’ ticket to invalidity benefits because that is how the working class see them. Luck put them in a situation where they can claim invalidity such as a minor injury at work or a car crash. A back injury is the best because that one can be dragged on for ever. We had a woman near where we used to live who had whiplash from a minor shunt. You could always tell when she was off to the doctors because the neck brace and crutch came out.

...

You should start a 'Bash the working classes' thread.

...

Renters can claim housing benefit but I'm not sure how much effort the government goes to to keep them in their home for any length of time.

Renters get much more help. Full rent paid from day one.

EDIT: Please vote for Property Bee

http://www.property-bee.com/forum/viewtopi...p?f=2&t=833

...

That said, I've just taken some delivery of physical which will go in a safety deposit box on the other side of the country for just in case TSHTF.

Not a good Idea IMO. Make sure you keep your receipts (read the summary below if you haven't time for the full article)

http://www.dailymail.co.uk/home/moslive/ar...er-fortune.html

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Been revising for an exam today, so brain is addled. Does that make sense?

Yes it does and I understand why you want to buy a house too.

I should add to the above, I have a 10% cash deposit too at the moment and I hope this will be enough to secure a mortgage without selling any gold or silver.

EDIT: And I should also add: We're planning a family at the moment so we will hopefully be down to one wage this time next year.

It happens we might buy a house soon for a number of personal reasons.

...

On a related point, so I get a feel for where you all come from, what percentage/multiple of salary saved up and invested in things tangible (not houses) would people feel they'd need to feel comfortably 'protected' against inflation? I suspect some people's gold stashes on here are several x income, but others are just a few % - and this affects how to interpret what people are saying on the forum.

I might buy a house soon too.

It's going to be a small house, 2 times joint earnings. I'm going to buy it with maximum mortgage and minimum deposit. i.e. sell the minimum amount of gold.

I hope to buy a bigger house in 2 to 5 years time.

My PM stash is 25% of our joint earnings. How does this affect the way you interpret my view btw?

This foolishness should be rewarded.

The bankers who are lending like that will deserve their fate.

This foolishness is being rewarded.

The bankers have got away with it.

http://business.timesonline.co.uk/tol/busi...icle6879558.ece

 

THE state-owned Royal Bank of Scotland is planning to hand out record bonuses of up to £5m each in a snub to struggling taxpayers.

 

The move would see the average employee in its high-risk investment banking arm take home £240,000, with the top 20 staff in line for payments of between £1m and £5m.

More MSM gold

http://www.telegraph.co.uk/finance/currenc...our-breath.html

However, unlike other commodities it has relatively few uses other than as an ornament. Copper is used in wiring, iron is used to manufacture steel but gold's main uses are – and always have been – as a store of value and as a way to demonstrate personal wealth. Even if solid gold bathroom taps are not to your taste, they certainly make a point.

You do understand that he would have achieved the same or a better result by switching his krónur into USD then JPY then CHF, etc.

...

There's a video (I think it is on one of the Iceland Threads) of a woman who moved her money into JPY before the collapse. She'd been phoning her bank every day but nobody answered

DOUBLE POST (from 'my' thread):

...

Can you change the tittle of this thread and merge all the threads back together?

GF asked that "and Investment" be put into the title as was normal. It didn't happen so he started a new thread which is more about fundamentals and the long term than about short-term trading.

...

I remember GF asking. I can't remember seeing any response from the mods/admin team. Did DrBubb ever respond to explain?

Anyone else find numerous posts like +1, +0, -1 etc a touch irritating?

There's a thread on it http://www.greenenergyinvestors.com/index.php?showtopic=7925

It's a conspiracy.

 

Steve was busy this month. Bubb started the new thread. What exactly is the problem?

 

I think it is a bit silly to have more than one thread... but then maybe it is required given that some bugs have become intolerant to the idea of "trading" and hedging gold.

Was it impossible to change the thread tittle to keep us all together?

The split looks permanent to me

sorry, but i have to register my frustration at now having about 3 'investment' gold threads and a separate trading thread. It's just not working for me

 

I think my main problemm is i just dislike having to look in >1 place; it has worked fine for the last 19 months, hasn't it?

It feels like 'divide and conquer' to me

EDIT: Why has 'investing' been removed from the thread tittle? Has anyone asked DrBubb / Steve NW?

I thought you couldn't purchase metals with a credit card anyway ?

I thought the same too... BUT these guys take credit cards.

http://www.airedalecoins.co.uk

http://www.weightoncoin.co.uk/coins/

I have used the first one, others on this site have used the second one.

anyone heard of / used these ?

 

https://www.bullionbypost.co.uk/

I haven't heard of them. They are a very new company

Date of Incorporation: 25/11/2008

I do get it. This is the gold thread.

...

OFF TOPIC:

What's your avatar?

Yes, this is the whole point as this is where most people get their food.

 

There is a clear difference between the universal daily use of PMs and the situation where a shop owner (or even thousands of shop owners) will trade with you for gold to cash to goods. State employees are paid in fiat - they have to eat and if the supply chain and credit system collapses then we are in deep shit. That is why it will be made to function long after it seems to be a farce. I am not suggesting that there will not be a dual economy - of course there will be - there always is and PMs and stable foreign currencies will buy you anything, I am merely pointing out that most people will have to use the government fiat as they have no choice.

...

Good points Schaublin.

Presumably, Iraq will still accept Sterling for oil?

In a SHTF scenario I am sure there simply aren't enough old silver coins around

…

Yes, good point. I suppose there isn’t enough of anything (not even one ounce bullion coins) to use as money if fiat becomes worthless.

…

(if they did they should have hoarded as many as they could and now they'd be laughing millionaires).

People did hoard them! http://en.wikipedia.org/wiki/Gresham's_law

…

What's the silver content of a Crown anyway? .654321??

26 grams pure silver.

I bet most people don't even know, but they know a Troy ounce bullion coin contains 1 ounce of silver-no messing. Half ounce is exactly that, half on ounce, quarter,quarter etc etc.

…

:lol: You’ve just proved that ounces are not as simple as you claim. Can you see your mistake?

For the time being, buying today, modern bullion wins hands down. Next is any silver coins closest to spot. For me that means US quarters and half dollars. But it could be different if I was in the UK, granted.

What country are you in?

Maybe we need a when TSHTF thread?

There are several

If silver becomes a currency then we'll have to work out how much things should cost in pre-1920 coinage, post-1920 coinage and a combination of both. I don't think this will be easy or convenient.

Very little will be easy and convenient IF society breaks down.

The question is - "What is the easiest and what is the most convenient?"

...

This is one of the reasons I have for rejecting old British silver coins. The general public will never get their heads around the silver content, grams, .12345 ounces. More likely people will just want to understand the face value and people who have these coins may be blue in the face trying to convince someone of their silver content.

...

British coins worked successfully as coins for many years and people will take to them very easily IMO. A lot of the older people I know often say, "Shilling", "10 Bob", "That's £5 in new money...."

Many people still recognise the Shilling as 'the old 5p' and the Florin as 'the old 10p'. There are still 20 or 10 (respectively) of these coins in a £1.

Once you remember this simple similarity, it is quite straight forward to remember that a 6d is half a Shilling and a 3d is half a 6d. A Crown is 5 Shillings.

I have many one ounce billion coins. These have never been in circulation in the UK so people will not recognise them.

IF TSHTF, I suspect a one ounce Britannia coin will be downgraded to a Crown. whilst some of the foreign coins will not be accepted at all.

cdswamp what software r u using to resize ur images ??

http://www.greenenergyinvestors.com/index.php?showtopic=2899

Are the old British silver coins free of capital gains tax?

 

I hadn't seen silver 3d coins. I remember the old 3d coins with was it 7 sides?

...

Are the sixpenny bits of that time 50% silver?

...

Pre decimal coins are not GCT free as they are no longer Sterling 'currency'. BUT... the coins cannot be melted down legally in the UK as they are still Sterling 'coins'

The 3d you are thinking of is a post 1937 brass coin. The silver 3d is round.

Pre 1947 6d's are silver. Check out the website below

Images from http://www.coinsgb.com/index.html

Thanks Ziknik. So is a Guinea the same as a Sovereign? And did 20 shillings really equal a gold sovereign? Thus 4 crowns for a sovereign? 8 half crowns:1 sovereign. 10 florins:1 sovereign.

 

Who sells old British coins? Anyone know?

ebay is the best place to get pre 1947 silver coins in my experience. They were selling pretty cheap last time I bought (around a year ago).

The Sovereign* (8 grams) replaced the Guinea (8.4 grams) in/around 1817.

Both coins were the official £1 coin of their time so they are both officially worth 20 Shillings. However, the Guinea contained more gold so it became a £1+1 Shilling coin after changeover to Sovereign (0.4 gold grams = 1 Shilling).

Unofficially, the number of Shillings per Guinea varied depending on the value of gold.

* There is an older Sovereign but my knowledge of coins doesn't go back far enough.