fitkid
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Posts posted by fitkid
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Sitting on a double leveraged silver ETF for a couple of years doesn't sound like a low risk way of trading to me. I wouldn't be at all surprised if the commodity ETF's go pop over the next couple of years.
Keep it real, keep it physical!
Yep even ETF dealers are warning to take physical possession.
From:
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A little disappointing so far. I mean, seriously, even if you're a trader like Bubb, you can't tell me you can make money out of this micro moves.
Some serious (Chinese? Indian? The Fed already?) buyers seem to completely back-stop gold nowadays.
even if you're a trader like Bubb, you can't tell me you can make money out of this micro moves.Your dead WRONG bubb always makes money just look at his diary he cant lose no matter what happens.
he makes so much i started to wonder whether he had got his own printing press
six figures six figures double bagger six bagger ten bagger
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Why keep your cash in anything other than gold (or silver if you can handle the volatility)?
A high golden horse definetly no wooden wheels in sight.
Is this the favourite retreat for some GEI'rs.
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We will be through it soon enough.
Get of your high horse pixel8r its got wooden wheels.
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Why is there a constant stream of people demanding the government "do something"? Just what are the government supposed to do?
Carry on whith the show what more do you expect.
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The roof falls in on Ireland's Millionaires Row
In 2007 Shrewsbury Road in Dublin was the sixth most expensive street in the world. Now, post-crash, homes have been abandoned and the tycoon residents have run for the hills
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The sharpest drop has been at the top of the market."
== ==
"...where prices have crashed by 50% or more."
"... the sixth most expensive street in the world, ahead of Beverly Hills's Carolwood Drive and St Moritz's ritzy Via Suvretta. ...where prices have crashed by at least two-thirds. 'It's right in the centre of things; it's a street that's always achieved top prices'..."
At some stage in a crash, you see that: The High End falls more, because wealth has been destroyed for everyone and even many of those who had money find they have to downsize their commitments. Others are afraid to buy, and no long see property as a one way bet.
The UK may be AT LEAST 18-24 months away from this realisation
The UK may be AT LEAST 18-24 months away from this realisationWell we do agree on some things.
I see that sort of timescale approx 18 months behind the US and can see severe corrections all the elements are falling into place for a disaster.
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Imagine what happens to the price when they haven't got any left.
GET OFF YOUR "HORSE WITH WOODEN WHEELS" SIR PIXEL8R.
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£9 short of £900, looking strong today
What is causing this current weakness in the £ ???
We had 1.60 all last week, but now down to 1.55
Market makers PUMPING and DUMPING.
At least today was a true reflection of the AWFUL FUNDAMENTALS.
Stock markets going down.
Au going up.
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The sad circumstances for first time buyer brits.THEY CANT.!!!!!
http://www.bbc.co.uk/newsbeat/11846403 vid from the beeb
More young couples are being forced to move in with flatmates because they can't afford their own place, property websites have told Newsbeat.
The number searching the internet for a shared, double room in a large house has soared since the start of the year.
Matt and Esther from Solihull near Birmingham explain why they are choosing to live with other people after they get married.
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IT GOES ON JUDAH THE RACE (TO THE BOTTOM) IT GOES ON.
THIS DECLINE IS REMINISCENT OF THE ALL TIME RECORD WINNING OSCAR CLASSIC.
AND WE ALL KNOW THE ENDING ALREADY.
From:
http://www.bbc.co.uk/news/business-11862428
Mortgage approvals fall to six month low
The number of new mortgages being approved for house buyers has fallen for the sixth month in a row, Bank of England figures show.
There were 47,185 mortgage approvals in October, down slightly from September's level and 17% lower than in October 2009.
The data suggests that house sales will be stuck in a rut in the coming months.
Separately, the property website Hometrack said the average home was now taking nearly 10 weeks to sell.
This, it said, was the longest sale time for 17 months.
"The seasonal slowdown in the housing market has kicked in a month early, with demand for housing falling at the fastest rate for 23 months," said Richard Donnell, director of research at Hometrack.
"Concerns over the economic outlook on the back of recent spending cuts, together with widespread expectations that house prices are set for a period of retrenchment, are driving the continued weakness in demand."
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THE MASSES.
that should read 3.4% higher, no?Yes the bbc need to correct their page.
But i dont believe the prices were higher at all there has been no transaction volume or any real market for the last 2 years except in the auction room.Where prices have been discounted heavily.ZIRP, LIES, DAMN LIES AND STATISTICS from a country wholly dependant on its property market for survival is the REAL SAD TRUTH.
An example a local commercial property came to market approx 12 months ago a former ethel austin retail outlet.It was marketed by the agent for £450,000.00.It recently ie last 3 weeks went to auction for a guide price of £250,000.00 -£275,000.00 and realised a sale at £300,000.00 at auction.The property has recently been tennanted by a local discount retailer on a rolling month contract with a 24 hour severance with a yield of £18,000.00 per annum.Someone clearly lost their brains or had a funny twitch in the auction room and forgot to pack their calculator.
I can easily see the tennant vacating and the yield being zero after xmas.The purchaser probably (very mistaken in my opinion) thought he was getting a bargain as the price was discounted from £450k to their bid of £300k but it is only worth £150k in a REALISTIC market.
NOW THAT FOR ME STIIL SHOWS PROPERTY FEVER IS STILL GRIPPING BRAINLESS BRITS.
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The data reflects the fundamentals.The outlook is very gloomy.
http://www.bbc.co.uk/news/business-11846182
House prices: Continued decline, says Land Registry
House prices continued to slide in October in England and Wales, according to the latest statistics from the Land Registry.
Prices fell by 0.8% compared with the previous month, leaving the average property valued at £165,505, it said.
Only London and the East of England registered property price rises compared with September.
The biggest fall was in Yorkshire and the Humber, where a 1.8% drop pushed down the average price to £126,292.
This was the second month in a row that month-on-month prices had dipped into negative territory on average across England and Wales, the Land Registry's figures show.
Prices remained 3.4% lower than a year earlier, but this figure has now shrunk for five consecutive months.
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I still retain a small property portfolio which is unlevaraged.The properties were 'purchased' many years ago before property was the most common/popular tv show and the most used word in the english language.I can remember clearly a friday night out in a popular local town in 2008 and EVERYONE i spoke to over the course of the evening was a property developer a property speculator a property landlord a property --------- etc etc etc.that was the REAL "SHOE SHINE BOY" momment for me.Having read Extraordinary Popular Delusions and the Madness of Crowds (1841) (a must read and free download here http://manybooks.net/titles/mackaych2451824518-8.html ) a history of popular folly by Scottish journalist Charles Mackay, many years ago it was like living his excellent reciting of the "tulipmania" "south sea bubble" the follie of john laws fiat experiment in 18th century france.ALL AS TRUE TODAY AS THEY EVERWHERE.
"THERE AINT NOTHING NEW UNDER THE SUN"
If i had been totally clinical i should have sold the properties and put all the proceeds into Au but as they were unleveraged and producing good yields i have retained them.would that classify me as RICH G definition as an "ASTUTE INVESTOR" or someone who was'nt so astute who missed a bigger better return by having further funds invested in PM's??
I can see a possibility for an ASTUTE investor returning to property when we have a rothschilds "BUY WHEN THERE IS BLOOD IN THE STREETS " momment not before.BUT if the catastrophic breakdown of the economy happens will the "ASTUTE" investor see property as an "ASTUTE" place to be ALLA the property experiences in rental yields in "WEIMAR" gemany as i recall the good dr's research into rental yields at that time elucidated that the rental yields were absolutely slaughtered.!!!
THATS IT THE GOOD DR AT HIS VERY BEST.AWSEOME DATA.
now who would want to be a 'LEVERAGED' BTL landlord in a potential repeat of this.
(DrBubb @ Jul 4 2009, 11:15 PM)...
Housing/Rents as a Percentage of Household spending
WEIMAR - Living Costs, Family of Four
Weekly Cost : Total in Marks : - - - - Percentages - - - -
========== . . . . . . . . . . . : Food / Housing / Clothing
1914 (prewar) : ............ 21.5 : 46.5%/. 25.6% / .. 27.9%
January 1920 : .............. 164 : 52.4%/. 04.9% / .. 42.7%
January 1921 : .............. 218 : 63.8%/. 04.1% / .. 32.1%
January 1922 : .............. 396 : 64.8%/. 02.8% / .. 32.3%
July...... 1922 : ............ 1232 : 56.8%/. 01.1% / .. 42.0%
January 1923 : .......... 25,123 : 52.1%/. 01.2% / .. 46.7%
July...... 1923 : ........ 654,608 : 59.8%/. 00.4% / .. 39.8%
Nov. ..... 1923 : ... 14.408 Bn. : 64.9%/ 00.26% / .. 34.8%
source: Hyperinflation handout
Here it is : 0.26%, in Nov.1923, down from 25.6% in 1914.
That's 1/100th of its original percentage - an enormous collapse !!
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Excellent GF
Th gold oz to house price ratio chart is my favourite i think it has a real meaning and truly shows the Au value against another tangible assett eventhough it is depreciating fast.
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ANOTHER HIDDEN TAX in ripoff Britian ?
Base is 0.5%. They are paying 0.0%.
The mortgage rate they are charging is 2.5% and they say:
"Nationwide also said it was losing out on 300 million pounds per year because of a pledge to cap its base mortgage rate at two percentage points above the Bank of England rate, relative to the typical 4 percent rate offered by other lenders."
What a bunch of useless and inefficient lenders are these UK banks!
Hong Kong banks charge 0.85% over their costs, and Mortgage rates here got down to 1.0%.
Can anyone explain to me why UK banks needs such a huge margin?
Why doesn't HSBC just take over the UK market, and push mortgage rates down to 2.0% or lower,
and put these useless dinosaurs out of business?
(After living in HK again for a few years, you lose patience with the heavy expenses and inefficiencies of backward third world countries like the US and the UK.)
I like it good dr.
Remember they are STILL a building society OWNED by its customers not a bank.
Have a read of this TOSH i dont think they meet any of the criteria
http://www.nationwide.co.uk/about_nationwi...ing/default.htm
Being a responsible lender - our commitment
As a building society, we don't have any shareholders, we're owned by you.
That means we have a responsibility to you, our customers, to be open and honest, to provide great value, to treat you fairly, and to be safe and secure.
These principles affect every thing we do. The way we lend money is no exception.
That's why we are committed to being a responsible lender. This statement tells you about our approach, whether you want a mortgage, personal loan, credit card or an overdraft. It also outlines what we ask of you in return. If you have any queries, please don't hesitate to ask.
This is what you can expect from us
■products and lending criteria designed to meet your needs
■competitively priced products which we promote in a balanced way showing the risks as well as the benefits
■clear information on the cost of your borrowing, any fees and charges and our terms and conditions
■an assessment of your ability to make regular payments and repay the loan, using appropriate credit assessment techniques, before providing credit
■where the credit limit is solely at our discretion (e.g. Credit Cards and Overdrafts), we will take into account your current and previous financial activity.
■reasonable notice of interest rate and payment changes affecting you
■a limit on your borrowing that we believe will ensure you don't overstretch your finances and which will allow for some increase in expenditure
■under strict controls we may share credit data with other lenders both to improve the quality of our decisions and to reduce the risk of you becoming over-committed
■your personal information treated confidentially and in accordance with Data Protection legislation
■prompt and professional handling of any queries or complaints you may have
■considerate treatment of payment issues and arrears.
We ask that you
■provide accurate and complete information on your application
■regularly assess your borrowing and, if you are having difficulties in managing your monthly payments, contact us so we can discuss any help/assistance available
■understand the terms and conditions on which the money is borrowed, seeking further information and help if needed
■decide for yourself how much you wish to borrow, up to the maximum we will lend based on your circumstances.
■ensure you have the means to repay the loan at the end of the agreed term if you have taken out an interest only mortgage.
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Indeed there is little reason to stay with Nationwide nowadays if you don't have a mortgage. Removing the free withdrawals overseas on their debit card was the last straw for me, so currently in the process of moving my accounts elsewhere.
Thats the only time i have a balance with them when i go abroad so as to access the wholesale forex rates.
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I agree I don't believe their forecasts either.
I'm happy for the interest rates on deposits to remain zero if my mortgage payments stay as low as they are. My cashflow from my little property business has gone thru the roof! Right now it's really useful because my other businesses are suffering due to the recession.
I trust you are doing the SENSIBLE thing whith your improved cashflow from your rental yield thanks to ZIRP and paying down capital on your 'DEATHGRIP' and not looking at new caravans etc ALA a family as featured on this 3 part bbc documentary, How to Beat Tough Times: Money Watch
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BETTING on the low base... What if that view is wrong?
UPDATE 2-Nationwide B/S sees no UK house price slump
LONDON, Nov 23 (Reuters) - Nationwide Building Society [NAT.UL], Britain's second-biggest mortgage lender, reported a 26 percent jump in first-half profit, and said it did not expect big house price falls despite signs of property market weakness.
Nationwide, which publishes a closely watched monthly house price survey, said on Tuesday major price falls were unlikely in 2011 because continued low interest rates would keep mortgatges affordable and prevent a flood of distressed sales.
Mutually-owned Nationwide made an underlying pretax profit of 147 million pounds ($235 million) in the six months to end-September.
The improvement reflected a 44 percent drop in bad debts as a partial recovery in commmercial property prices since mid-2009 helped more customers avoid defaulting on loans.
Britain's retail banks have all reported stronger profits in the past year as tighter lending criteria and a tentative economic recovery have helped reduce loan impairments.
Mortgage and savings-focused Nationwide, the country's biggest customer-owned lender, has emerged as a relative winner from the financial crisis, snapping up financially weaker rivals including the Cheshire and Dunfermline building societies.
The Bank of England, which slashed interest rates to 0.5 percent during the crisis two years ago, was unlikely to start raising borrowing costs until the end of 2011, Nationwide said.
"We think house prices will remain relatively flat for the next few months, with some possible downward migration, but nothing significant," chief executive Grahame Beale told reporters on a conference call.
Surveys show house prices have been falling over the past three months, reflecting scarce mortgage finance and worries over the economic impact of government spending cuts aimed at reducing Britain's budget deficit.
Nationwide also said it was losing out on 300 million pounds per year because of a pledge to cap its base mortgage rate at two percentage points above the Bank of England rate, relative to the typical 4 percent rate offered by other lenders.
Over a third of Nationwide mortgage customers now pay the base rate, and more are choosing to revert to it when their fixed-term loans expire, the company said. ($1 = 0.6244 pound)
You could say the NATIONWIDE has a slight vested interest in the propert markets direction.
Mutually-owned Nationwide made an underlying pretax profit of 147 million pounds ($235 million) in the six months to end-September.I whish they would increase their interest rates on there various accounts as they are paying 0 (zero) % interest on most of their accounts for the last 12 months now.
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Not in Bristol unfortunately. Prices up 3% according to the agent and it's making it harder for me to get a deal I'm working on. Even tho it's in a poorer area and prices have actually fallen there according to my impressionistic assessment, but the sample is too small for the land reg data to be meaningful. The macro data for the property type (Bristol-wide) tells a different story. Grrr! Pain in the a** as the deal has a gross yield of over 21% - that's right after 5 years it's free it has paid for itself. But I'm greedy I want a minimum discount on OMV of 30% as well.
Rich the 11% drop is in transactions not prices.Hold onto your hat the prices will come down the writing is on the wall from so many factors it is inevitable and NATURAL LAW will always apply.
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DOWN DOWN DOWN WE GO.!!!!!!!
http://www.bbc.co.uk/news/business-11828912
UK property sales down by 11%, HMRC says
Sales as well as prices are facing a new downturn UK property sales were down 11% in October from a year ago, according to HM Revenue & Customs, giving fresh evidence of the sector's downturn.
Just 79,000 residential properties were sold in October, HMRC said.
That was up 1,000 from September, but was 10,000 lower than in October last year.
The year-on-year fall suggests sales as well as prices are now coming under pressure as a result of mortgage rationing and economic uncertainty.
On Tuesday, the Nationwide building society, one of the UK's biggest lenders, suggested that house prices might continue falling in the coming year, after starting to slip in the past few months.
The lender said a key factor causing the subdued state of the market was a lack of consumer confidence, together with economic uncertainty because of the government's public spending cutbacks
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I see the housing game playing out like this.
1.the mortgage (death pledge/grip) market has been collapsed purely by design.
2.Most People are not even able to get a death grip even if they wanted one and i know for a FACT most stiil would if allowed or were facilatated even more so for the BTL brigade so people are forced to rent from the private sector BTL brigade as social housing has all but disappeared.40% of private sector housing tennancy is for social housing ie government liability.
3.The austerity cuts in housing benefits will be capped at £280 per week for two bed properties and £400 a week for four bed houses as IDS (Irritable bowel syndrome) so elequently stated this will "DRIVE THE RENTS DOWN" and "TELL THE LANDLORDS THE GAME IS OVER".
4.The time line for this to play out will be from the inception of the housing benefit cap due to come into effect from April next year.
5.THE WRITING IS CLEARLY ON THE WALL FOR EVEN THE MOST MYOPIC STOIC OPTIMISTIC BTL FRUITCAKE TO SEE.
AS IT IS CLEARLY STATED AND PUBLIC POLICY NOW SO SURELY THE ASTUTE INVESTOR WILL MOVE QUICKLY TO THE EXIT BEFORE THE HERD SMELL THE FIRE AND THE HUGE RUSH STARTS.EVEN THOUGH IF YOU CANT SMELL IT KNOW YOU NEVER WILL.
6.Other considerations
Potential for capital appreciation.INVISIBLE.
Potential for unfreezing of death grip markets.Not in their master plan.
Move to a pure communism based society.GURANTEED.
Was Eric Arthur Blair aka George Orwell spot on.ABSOLUTELY (inside information
)Thats how i see it and remember i still retain a small property portfolio so ABSOLUTELY NO VESTED INTEREST FROM ME.Please note no shadowy conspiracy theories in the above just foresight and reading of the stated public information.
So remember in the words of CGNAO "DONT PANIC ,PANIC FIRST."100% GURANTEED.
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The illusions created by Edgar Mueller are "BREATHTAKING" but not even close to the "ILLUSSIONARY" world that has been created by the "ELITE" running the world that would stop your "HEART" literally.
He spent five days, working 12 hours a day, to create the 250 square metre
image of the crevasse, which, viewed from the correct angle, appears to be 3D.
He then persuaded passers-by to complete the illusion by pretending the
gaping hole was real.
'I wanted to play with positives and negatives to encourage people to think twice
about everything they see,' he said. 'It was a very scary scene, but when people
saw it they had great fun playing on it and pretending to fall into the earth.
'I like to think that later, when they returned home, they might reflect more on
what a frightening scenario it was and say, "Wow, that was actually pretty scary."
Mueller, who has previously painted a giant waterfall in Canada, said he was
Inspired by the British 'Pavement Picasso' Julian Beever, whose dramatic but
More gentle 3D street images have been featured in the Daily Mail.
This guy is amazing no matter how you look at it!
NOT A PATCH ON HELICOPTER BEN AND MARVELOUS MERVYN AND ALL THE OTHER CRONIES IN MY OPINION.
NOW THAT IS WHAT I CALL A REAL ILLUSION.ABRA CADABRA "MONEY MONEY MONEY MONEY".WOW NOW THAT IS REALY IMPRESSIVE AND MOST PEOPLE HAVE NOT GOT A CLUE!!!!
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WHAT CHANCE HAVE THE SHEEPLE GOT WITH THE PROPOGANDA/LIE MACHINE MAKING HEADLINES LIKE THIS.
http://www.bbc.co.uk/news/business-11796277
'Bidding war' for homes to rent
People looking for houses to rent in many parts of the UK are encountering a new hurdle in their hunt for a home.
Landlords, or more often their letting agents, are increasingly asking would-be tenants to compete by making "sealed bid" offers for the home they want.
The practice is relatively commonplace in the market to buy homes, but is seen as a new development in the rental sector.
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LAMBS TO THE SLAUGHTER!!!!
THE BTL BRIGADE LOVE IT THIS WILL ENSURE A NICE WEEKEND FOR THEM TO "FALSELY" BELIEVE THAT THE GOOD TIMES ARE BACK AND GETTING EVEN BETTER.IS IT TIME FOR PRAYERS "GOD FORGIVE THEM FOR THEY NO NOT WHAT THEY DO".
I thought this guy was the master of illusions but these people take illusion to a whole new level .In the words of G Edward Griffin "THESE PEOPLE ARE SCIENTISTS.
Edgar Mueller Super Artist
Hard to believe that these are drawn on a FLAT sidewalk surface
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I'm moving from South East to North West UK and I've just finished my checks on my new landlord to ensure he's getting a reasonable yield so I'm safe.
Based on the price history I think I'm moving to one of the main crash zones!
April 2003 - Bought new
April 2007 - Bought for 31.5% more than 2003 price
June 2009 - Bought at auction for 20% less than the 2003 new price, which is a whopping 39% less than the 2007 price
Landlord is now getting a gross yield of 6.3%
Auction transaction was not in the freely published land registry data as it was a repo, so I had to pay £4 to buy the latest information online. I assume he was a cash buyer as the registry info states Lender(s): None.
Mirror image property next door is currently advertised for sale on the open market at 19% more than landlord paid at auction.
I'm moving from South East to North West UK and I've just finished my checks on my new landlord to ensure he's getting a reasonable yield so I'm safe.What checks have you procurred to ensure your 'SAFETY'.?
UK House prices: News & Views
in NEWS Commentary, 2021 & Beyond
Posted
Well that 'NOSTRADAMUS'
prediction did'nt take long to transpire walked past that retailer today and they have covered the windows with
"CLOSING DOWN SALE
ALL STOCK MUST GO
BY 8th JANUARY 2011"
Not really dificult to see,just bleedin obvious.At least they are giving more than 24 hours notice.
I hope he gets the twitch sorted and takes his brains and calculator to the next auction.