fitkid
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Posts posted by fitkid
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Hi again folks,
good setup to short gold right now:
http://seekingalpha....h-setup-is-here
p.s.
I see you have got new design of the website, cool!
Monday lift off is now assured.
Thanks ker.
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DAMN.
That 'group think' has even infiltrated the pension funds.
:lol: -
Dont you get it...
Once you fall into negative equity, a house is a trap, not a home
QUITE QUITE......!!!!
Just like......................
Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.Norm Franz. "Money and Wealth in the New Millennium"
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Growth in number of ‘retirement renters’ as appeal of homeownership wanes
The number of pensioners stepping off the property ladder to rent is growing fast according to retirement rental specialist, Girlings Retirement Rentals.
It reports that in five years, new enquiries have risen by 32% and the main attractions are rental affordability and the availability of life-time (assured) tenancies.
This growth in popularity of renting in retirement mirrors a general increase in renting in the UK. The English Housing Survey from Communities and Local Government reports this week that the number of households renting privately has increased by one million in the last five years and that one in six homes is now a private rental property.
In 2005-06, there were 2.4 million private rental households, which rose to 3.4 million in 2009-10.The private rented sector now accounts for 15.6% of all households in England, up from 14.2% in 2008-09 and 11.7% in 2005-06.
The affordability of renting is a big attraction for Girlings’ tenants. In a recent tenants’ survey nearly half said they are financially better off renting. 48% of people were former homeowners who sold their properties to release capital and invest it before renting a property through Girlings. They are now enjoying greater financial freedom with only monthly rents to meet, as maintenance costs and additional services, including a 24 hour Careline and the presence of a House Manager on site, are included in the rent.
Former big band singer Shirley Dew and husband Roy moved into a Girlings’ apartment in West Sussex when they returned from living in Gran Canaria and were priced out of the UK property market. One of the main attractions of renting for the Dews was the fact they could move into a modern, clean, purpose built retirement apartment immediately and make a fresh start in the UK. Other benefits were the assured (life-long) tenancy offered by Girlings. In addition, the development was very secure and the couple felt reassured by the presence of a House Manager on site to support tenants which they felt would be needed increasingly as they grew older.
Shirley said, “Financially, renting is a fantastic option for us. Whilst we don’t have the sunshine of Gran Canaria, we have marvellous walks, beaches and wonderful scenery on our doorstep – we definitely made the right decision to come back.”
Peter Girling, Chairman says, “Currently, 70% of over 65s are homeowners in the UK and many live in large, but under occupied family housing. £1 trillion is tied up in the value of their homes and yet many live in houses which are now too large for them, struggle to pay the bills and make ends meet. It is little wonder that many are opting to step off the property ladder and rent in order to free up their finances for retirement.
“Renting seems to make financial sense increasingly to this age group. Our assured (life-long) tenancies give people the same level of security as homeownership, but without the maintenance and financial worries and this is the big attraction,” he added.
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They would have to raise rates to 8-9%+ to have any impact.
More than that to offer any real advance to savers on current REAL inflationary pressures let alone the future levels.
Federal Reserve chairman Paul Volcker very sharply increased interest rates from 1979-1983 in what was called a "disinflationary scenario." After U.S. prime interest rates had soared into the double-digits, inflation did come down; these interest rates were the highest long-term prime interest rates that had ever existed in modern capital marketsThe Fed began raising interest rates in 1977, and the American economy tipped into recession in 1980, at which point the central bank took its foot off the brakes. But inflation rates continued to rise, and so shortly after the economy recovered (briefly) in July of 1980, Mr Volcker orchestrated a series of interest rate increases that took the federal funds target from around 10% to near 20%.Year Inflation Unemployment
1970 5.7 5.0
1971 4.4 6.0
1972 3.2 5.6
1973 6.2 4.9
1974 11.0 5.6 < First oil crisis
1975 9.1 8.5
1976 5.8 7.7
1977 6.5 7.1
1978 7.6 6.1
1979 11.3 5.9 < Second oil crisis
1980 13.5 7.2
1981 10.3 7.6
1982 6.2 9.7
1983 3.2 9.6
1984 4.3 7.5
ADD the CHINDIA dynamics and this is going to be UNBELIEVABLE.
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http://www.chinadaily.com.cn/cndy/2011-02/...nt_12085402.htm
Malls witnessing gold rush as shoppers fear inflation
By Xu Fan (China Daily)
Malls witnessing gold rushas shoppers fear inflation
Jewelers at shopping malls across the capital are witnessing a gold rush as residents spooked by inflation fears look to protect their money.
Statistics from Beijing Caibai, the city's largest jewelry store, show sales of gold and other jewelry have totaled about 4 billion yuan so far this year, a 70-percent increase year-on-year.
Wang Chunli, general manager, told METRO that hundreds of customers are lining up outside every day to buy gold accessories, such as necklaces and rings. To cope with demand, the store has even introduced a string-weave service, she said, adding: "We've also arranged experienced staff to be on duty and increased the number of security guards."
After seeing the enthusiasm for gold investment, insiders predict prices will continue to rise this year.
Zhou Xiangrui, deputy general manager of Guo Hua, an established gold and jewelry store, even suggested that the surging demand could set a new record, saying: "The price is estimated to increase by 10 percent this year."
The price has already reached 338 yuan a gram at Caibai and 375 yuan a gram at Beijing branches of Chow Tai Fook and Chow Tai Seng, according to data from cngold.org, a popular gold investment website.
Concern over the volatile conditions in the Middle East and the debt crises in Europe could also impact gold prices, said Ji Zhiguo, an analyst the Beijing Gold Trade Center. "This year we might see some investors purchasing more than 10 kilograms of gold bars again," he said. "A booming gold market coupled with a stable price increase could prompt more individuals to rush in and invest."
Gold sales in large shopping malls citywide increased by at least 40 percent year-on-year during the first two months of 2011, Legal Mirror reported.
According to China Central Television, about 40 investors are rushing to purchase gold bars every day at the Wang Feng shopping mall in the Xinjiekou area, with most snapping up several kilograms at a time.
Wang Qiming, 34, who lives in Haidian district, said he has purchased both gold bars in malls and paper gold online. "The capital has limits on house and car purchases, and it might be hard to preserve the value of my assets if I save cash in a bank account. So, I've started to focus on gold investment," he said, explaining that he plans to spend 300,000 yuan on 100 grams of gold bars.
"Stock markets change very fast and are not stable," said Wang. "Gold investment seems much safer."
A report released by the World Gold Council at the end of 2010 said China is the strongest market for gold investment and gold accessory purchase.
China Daily
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It is very debatable wether the US actually still holds 8000 tonnes of unencumbered gold, many believe that what they actually hold these days is worthless paper promises from the bankrupt (mark2market) bullion banks after their years of leasing gold out in the suppression scheme.
NO Country (artificial political construct) owns any Au.
The central banks of issue own and hold the gold and they are ALL privately owned entities by shareholders.
The names of which should be all but too familiar to GEI posters.
http://video.google.com/videoplay?docid=-3...62173505156201#
Eustace Mullins - Secrets of the Federal Reserve
1:31:25 - 2 years ago
Eustace Mullins "The Secrets of the Federal Reserve" Recorded during a visit to Hawaii around the year 1989, this lecture presents a unique opportunity for you to see and hear this remarkable man lay out the shocking truth about the privately-owned corporation known as the Federal Reserve System. There is also a fascinating Q & A session after the talk.
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Yup, but for sure at some point it does come. For ordinary people this thing has only just started, as King alludes to.
Nope fluoridated water and mcdonalds will take care of that.
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I guess a lot of folks on here count in pounds sterling so are awaiting a close above £914... but in any case the lack of excitement is a very bullish indicator IMHO...
Lack of excitement i think is the wrong term.
TOTAL DISBELIEF that with unprecedented events happening all around the world in both the 'NATURAL' and their 'ARTIFICIAL COMMERCIAL CONSTRUCT' has only just lead to a slight blip upwards to a new high is a joke.
PPT/MANIPULATION i take my hat of to you.You are the dogs BO**OX
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I guess a lot of folks on here count in pounds sterling so are awaiting a close above £914... but in any case the lack of excitement is a very bullish indicator IMHO...
Lack of excitement i think is the wrong term.
TOTAL DISBELIEF that with unprecedented events happening all around the world in both the 'NATURAL' and their 'ARTIFICIAL COMMERCIAL CONSTRUCT' has only just lead to a slight blip upwards to a new high is a joke.
PPT/MANIPULATION i take my hat of to you.You are the dogs BO**OX
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over the past few days 2 people i know and have known for a while (not close friends) have recommended buying gold and wish they bought some sooner.
Stage 3... slowly but surely as with all secular Bull Markets in the history of time.. is coming.
'GROUP THINK'
That damn thing gets you every time.
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Wake me up at $1,650.
Dont fall to deeply asleep then it wont be long.
If you fancied 'HIBERNATION' you should have have said wake me up at <$1100.
I mean realy what an earth were they thinking................uuummmm oh of course they were'nt thinking.
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Starting to be irrelevant really. Who would want to swap an ounce of gold for a doomed currency at any number?
I can think of quite a few on this very forum.
I had to post it twice as i quite couldnt believe it myself.
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Worth watching if you have not seen it even though it is now over 3 years old.
http://video.google.com/videoplay?docid=-8...16145694781888#
Dispatches: Britain’s Bad Housing.
48:35 - 3 years ago
What is the real reason behind Britain’s housing shortage. Is it really because of a true shortage of new houses or is there another reason. Well, like most things today, it’s really caused by powerful corporate groups lobbying the government to get their way and make sure their money making schemes go through – without any though of those who can’t find / afford anywhere to live.
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Whats changed in 2 years since Mark Dice made this video...............................
ABSOLUTELY NOTHING EXCEPT THE GOLD PRICE HAS INCREASED BY OVER $300 AN OZ .
From: http://www.youtube.com/watch?v=Gk5aRIz17fk
Whats changed in 2 years since Mark Dice made this video..................
ABSOLUTELY NOTHING EXCEPT THE GOLD PRICE HAS INCREASED BY OVER $300 AN OZ .
From: http://www.youtube.com/watch?v=yJSNq8nox-o
Whats gonna change in the next two years.......YEP you got it NOTHING except the gold price will have increased to .........00,00000?????
THAT 'GROUP THINK' IS A REAL KILLER .WHAT DO YOU THINK.?
:lol: -
barring total catastrophe a la 2008
We havent even started yet 2008 was not even close to what is brewing.
Oil prices up UP Food prices up UP.......................
http://www.bbc.co.uk/news/business-12449987
House prices will fall in 2011, says CEBR
Weaker household earning power will lead to a 1.7% fall in UK house prices in 2011, a research group predicts.
Higher inflation and weaker employment prospects will lead to a fragile economic recovery, the Centre for Economics and Business Research (CEBR) said.
http://www.bbc.co.uk/news/business-12445050
Sharp rise in job losses forecast by survey
Redundancies are set to rise sharply in the next few months as public sector cuts bite, a survey has suggested.
The Chartered Institute of Personnel and Development study found redundancy intentions with employers were at their highest level since it began in 2004.
http://www.bbc.co.uk/news/business-12458091
Auto Windscreens goes into administration
Auto Windscreens has gone into administration, putting 1,100 jobs at risk.
The Chesterfield-based company, the UK's second biggest windscreen repair firm, said it had temporarily suspended all operations.
The administrators from accountancy firm Deloitte said there were no funds with which it could carry on trading.
The majority of staff have been asked to stop work and customers are being advised to contact alternative firms.
IT GOES ON JUDAH ......THE RACE IT GOES ON..........................
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he is a very good president.
(bearing in mind that the job of president basically involves being a lying, thieving, mass-murderer).
PS. the 'logic' in your above argument is f***ing retarded.
IRS as usual 100% correct.
But PLEASE can we take the PUPPET show of the PUPPET show onto its own PUPPET thread and leave this as the REAL GOLD THREAD.Thanks.
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WHY DONT THEY JUST TELL THE POOR SODS THE TRUTH .!!!!
YOU ARE SELLING THE ONLY THING OF REAL/DE-JURE VALUE DONT BE SILLY TAKE IT HOME AND KEEP IT SAFE IT WILL SAVE YOUR BACON SOON.
http://www.bbc.co.uk/news/business-12446901
Gold-buying firms told to improve by OFT
Three companies that buy gold from consumers by post have been ordered by a watchdog to improve their treatment of customers.
CashMyGold, Cash4Gold and Postal Gold agreed to make changes after an Office of Fair Trading (OFT) investigation.
The high price of gold has meant that companies that exchange people's gold for cash have grown in popularity.
But the OFT found that a handful were locking customers into accepting the offer made for their gold items.
Sometimes customers' jewellery was melted down on the assumption that they had accepted a quote.
Concerns were also raised about two other companies, which have ceased trading following the year-long investigation.
Growing sector
CashMyGold, based in Manchester, Cash4Gold, based in west London, and Postal Gold, based in Douglas in the Isle of Man, all accepted they must change their business practices.
Case study
Mark Turner was initially offered £106 for 32g of gold by a gold-buying company in September 2009. He challenged the offer, which was increased to £160.
However, a High Street jeweller said he would have offered £224.
"Good God!" Mr Turner said on discovering what the gold was actually worth.
The two that ceased trading were CashYourGoldNow, based in Newbury in Berkshire, and Money4Gold, based in St Albans in Hertfordshire.
A Cash4Gold spokesman said: "We have, and will continue to be, clear with our customers as to what they should expect, and appreciate the OFT's efforts to ensure our competitors adopt some of the same practices that have been part of our service offering from day one.
"Unlike some other gold buyers who shut up shop, we were pleased to work closely with the OFT to fully resolve all concerns."
The OFT had raised concerns with all five about the way offers were made for people's gold, such as jewellery.
The watchdog found that some businesses were sending customers a payment for their gold, which if not rejected and returned within a very short period of time by customers, was taken as consent for the payment. That meant the gold was then melted down.
Gold-buying companies have become much more prominent in recent times, with many advertising on television or appearing on temporary stands in shopping centres.
Robert McDougall, OFT: "We were concerned consumers were being treated unfairly"
Consumers sent in their gold by post to be assessed, then received payment back in the post. Unlike the High Street, where people could immediately walk away from a deal with the gold in their possession, the postal service meant the companies had the gold and customers had to reject the payment quickly to get the items back.
Previous research for the consumer organisation Which? showed that some gold companies that advertised on television offered an average of just 6% of the gold's retail value, compared with an average of 25% offered by pawnbrokers and high street jewellers.
The OFT does not have the power to order companies to change their prices, or offers of cash, but it can ensure that businesses provide "clear and transparent" information.
Reforms
The three firms agreed to make changes to the way they worked, including:
Providing people with the option of a quotation for their gold - which the customer would agree to, or withdraw from the deal - or just a payment
Clear information on the prices offered, including the weight and carat of the gold
Details on whether gemstones can be accepted, and explaining the risks to the customer of sending them
Making sure when referring to a "high price" on offer, that they are referring to the scrap price of the gold
Heather Clayton, of the OFT, said that the watchdog would intervene early if new industries grew without proper consumer protection.
She added that distance selling could be good for consumers, but only if the businesses operated fairly.
In January 2010, CashMyGold was criticised by the Advertising Standards Authority for a misleading television advert.
In addition to the postal gold businesses, consumers can sell their gold to some High Street jewellers, to pawnbrokers, to other businesses or money shops which provide a range of short term loans or pay day loans to consumers, and in specialist jewellery quarters.
Supermarket Tesco has also just entered the market, but the OFT said it had "not identified any reasons to be concerned with its business practices".
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SAINT GOLDFINGER.
OR JUST PLAYING WITH THEM.
There are some crazy posts on this thread seriously just open your eyes to what is happening.and get a GUN.
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Anyone tempted to sit on currency believing that it will increase in purchasing power would be advised to read this article at zerohedge:
http://www.zerohedge.com/article/guest-pos...bal-debt-prison
So, the question of debt default turns from theoretical to quite imperative. If the Federal Reserve continues buying our debt with fiat, it means that the effects of the debt will only be delayed, the dollar will be dropped as the world reserve currency, and hyperinflation is a certainty. If they do not continue buying, then our government defaults, the country’s financial infrastructure ceases to exist, the dollar loses its world reserve status, and hyperinflation is a certainty. The banking elites haven’t just erected a prison, they’ve tossed us in Alcatraz!
Anyone tempted to sit on currency believing that it will increase in purchasing power would be advised to............................
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Do you know of any retrospectve tax laws? The current law is that any gold that is UK currency at the time of sale or purchase (i.e sovs or brits) is exempt from CGT at the point of sale. Would have to be very retrospective to catch people who already have those coins in their possession. Do you see that change happening realistically ?
YESDo you know of any retrospectve tax laws?CGT is payable on the sale of the asset if any equity is realised in the transaction.So if you purchase anything there is never any liability for CGT on the 'purchaser' the CGT is only ever realised on the subsequent sale.So if you ALREADY HAVE COINS IN YOUR POSESSION you will not have needed to consider CGT on your purchase.Now my point is EVEN if you 'purchased 'your coins which under current legislation are CGT exempt and you purchased them with the fact/knowledge/benefit that the NO CGT on the potential subsequent sale offered you,it would be rather annoying to find that the legislation had been changed to remove the exemption of CGT from the coins.But you would argue that you had 'purchased' the coins when the legislation stated that they were CGT exempt but they then RETROSPECTIVELY apply that it does'nt make any difference and you will have to pay the CGT anyway.
YES I SEE THIS CHANGE AS ALMOST GURANTEED NEVER MIND REALISTIC.
Have a listen to Aaron Russo's direct experience with retrospective (retroactive) tax legislation with regards to his Gold and silver dealings.
Listen from 11.22
From:
This is the type of sleight of hand/deception that is/will be used with reference to the above.
From:
Another side effect from ObamaCare exposed. Not only was ObamaCare sold on falsehoods and outright lies, now we learn, after the bill was signed into law, that there is a secret gold coin tax buried in the thousand of pages health care law.
The tax comes in an obscure section of the tax code that deals with purchases by self-employed people and small businesses.
Starting Jan. 1, 2012, small businesses and self-employed people will have to issue 1099 forms, which are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals, for every vendor with whom they do more than $600 business in a calendar year.
http://news.bbc.co.uk/1/hi/business/8496921.stm
Will retrospective taxes affect us all?
The Revenue has just won a landmark court case which allowed the backdating of tax law.
New legislation normally applies to the future, not the past.
But the case of Robert Huitson may change all that.
In 2001 Mr Huitson began using an artificial scheme to reduce his taxes.
He thought the scheme was legal, and so did his advisers.
HM Revenue and Customs (HMRC) did not agree.
So far, so commonplace: HMRC frequently disagrees with taxpayers.
If these disputes cannot be settled, both parties often end up in court, where each side puts forward their argument.
Sometimes HMRC wins, sometimes the taxpayer..............................................................
But the Huitson case is nevertheless worrying.
Is it the thin end of a very dangerous wedge, allowing HMRC to get its own way without bothering to argue its case in the courts?
Or will retrospection be used only exceptionally, most commonly in response to artificial tax planning schemes?
What is certain is that backdating legislation is a cheap, quick and certain way of closing a tax loophole, and it may be irresistibly tempting for the government to use the same method again.
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TAX
Do people realise that if you are based in the UK and you invest in gold sovereigns. You are not liable for capital gains tax on this investment.
So if you make £100,000 on your coin investment then you keep the lot.
If you choose to invest in shares or an ETF then you are liable for the tax and you only get to keep 72,000 and you have to give the rest to the treasury.
For me this is a major reason not to invest in shares. You have a 28% head start over any share investment.
I don't think people are aware of this tax free perk.
That is a huge reason for anyone in the uk to buy physical sovs.
But i would'nt be suprised to see the tax exemption removed and even applied retrospectively.
They will be trying to squeeze tax out of every orifice likely to yield any as we move forward you can see it happening already in various sectors dont become soft easy picking's for these criminals.
TAKE POSSESION AND SECURE IT YOURSELF.!!!
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You don't think there will be mania just before the hyperinflation starts as it becomes more and more obvious what is going to happen, I do. True in the final stages of hyperinflation you won't be able to buy it, but I think the mania will start before then.
I see a phase were the public (sheeple) will be aware of the destiny of 'FIAT' i see that as a mass awakening and a run for tangible assests.i wouldnt describe that as a bubble but more like a return to honest money and natural law exerting its effects.
We have all been 'DUPED' by mass propoganda and the 'MONEY SCIENTISTS' this is the culmination of this cycle in our momment of history.Some have woken up relatively early to this charade and taken what they feel is appropriate action.
Gold will be used to back a universal currency to get it off the ground and then will be debased and debased all over again.
People are suckers and will buy this crap like they've bought every other load of nonsense that has been thrown at them.
History repeating itself again and again beautifully.
"THERE AINT NOTHING NEW UNDER THE SUN."
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Birth of Britain
Season 1 Episode 3 of 3
Tony Robinson goes in search of the UK's gold, visiting mines in Wales and Northern Ireland, and trying his hand at panning for the precious metal in Scotland. He also explores the geological events that came together to produce the deposits. Last in the series.
Documentary
Channel 4 8:00pm-9:00pm (1 hour ) Mon 31 Jan
Watch it here on 4oD
http://www.channel4.com/programmes/birth-o...ain/4od#3157803
:lol: 
GOLD
in Gold, FX, Stocks / Diaries & Blogs
Posted
Imagine some poor uninformed soul that had stuufed a load of FIAT yen under his bed fearing bank collapses what has he got left now ...................... wet toilet paper.
At least with gold it would still be intact and as valuable as ever if they can find it.