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modigliani1

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  1. Friend (one of those people who think property can only go up) is looking for a flat to buy in London. He takes interest in a new development being built in a nice area with plenty of tall buildings, and asks the agent. The agent tells him she does not know when the development will be completed cos the bank does not want to lend. Friend comes to me in utter disbelief and I chuckle ^^ Just wait for the general election to pass.
  2. Discussion being aired on Bloomberg right now, basically everyone says gold has a long way to go.
  3. But those people did not want to verify things, that was their biggest mistake. Anyway, sorry for derailing the thread a little bit
  4. Uh, I suppose there is a high density of coin shops where I live then. I can think of three within a 15 minutes drive from my house in Italy and a few in London too. Well it's up to him, of course. If he is willing to make the deal, he will wait. If he isn't even after I offer to pay twice as much, probably either he is not so desperate or he is a scammer. If he wants to sell the coin for $50, then he doesn't know its real value. If he doesn't know its real value, he won't be concerned with me going inside a shop and have it checked. If what you are saying is that I should not trust the coin shop owner, I thought it's pretty obvious that I'd sell the coin straight away, go out and pay the guy his $100. I can't see any serious risk in this approach. As for your comment, I find it pretty funny for a very personal reason: pretty much everyone close to me points out how hard it is to gain my trust Which is both a compliment and a criticism, no?
  5. I would ask him to come with me to the nearest coin shop, ask him to wait outside and have it checked. If he does not want to go through that, you tell him you'll give him $100 instead of $50 if the coin turns out to be genuine. Seems like a no brainer to me
  6. In posting Roubini's interview, my intention was not to suggest he was necessarily right. But I find it wise to gather as many views as possible, regardless of whether I agree with them or not. The more perspectives, the better no? Roubini might be right or might be wrong. I personally remain fairly bullish on precious metals in the near future (although I do expect to see a correction in Dec or perhaps early Jan...but of course, I'd be happy to be wrong).
  7. Roubini's view from seekingalpha. He believes gold (and other commodities) are due for a correction: http://seekingalpha.com/article/171919-rou...or-a-correction
  8. All your points are valid. Yes, they might sustain the pound and house prices for some time (months, even years). But in the end these policies are just postponing the inevitable and might very well end up making the problems that the UK economy is facing even deeper. I strongly believe the UK would be better off taking the sour pill asap. But it would be politically unpopular so obviously it won't happen. Ask yourself: what would have happened to house prices if the govt hadn't slashed the rates? Prices would have kept dropping. They weren't allowed to. Now, as DrBubb pointed out, the market is experiencing a rally based on absolutely artificial and unsustainable circumstances. When this whole ficitional environment vanishes, we are gonna see the real extent of the current crisis.
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