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You'd think wouldn't you.

 

But no. It'll take the usual ~3 days :rolleyes:

Strange. I have a friend with LloydsTSB (has a 30-xx-xx sort code) and I can transfer him cash instantly using online banking - the very same method used for BACS transactions but instant.

 

BV have a 30-xx-xx sort code but the system says "Oh no, you're not paying another person, you're paying a COMPANY... please fill out this other form" and now it's sat in my pending transactions and will only go tomorrow. :(

 

Oh well, now I get to enjoy the "I'll be really happy if the POG goes down as I'll be getting a bargain" feeling you guys often exude. :)

 

 

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It would be great if it does become instant :D

For me so far it's always been ~3 days.

 

Here in NZ that's what we get as long as it's the same bank. ~3 day if it's another bank.

 

I guess that's the trouble with people having to make book keeping entries in large ledgers. It just takes time :lol:

 

 

EDIT: From azazel's link:

 

Initially, the new system will be aimed at personal customers, then later at business customers too.
:unsure:

 

I wonder if that means only to personal customers so far.

 

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A big week ahead for the price of gold folks - are we going to see steady recovery towards $900+ or a re-test of the lows?

 

PMs could really do with another Bear Stearns-style bombshell sometime soon to help the market make its mind up

 

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Whao...Silver...wow!

Indeed. i think it has just broken out in a big break from a down channel which was in place since the drop from the March 17th high.

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Indeed. i think it has just broken out in a big break from a down channel which was in place since the drop from the March 17th high.

Could need a few more of these days. :) Although, the day is not over yet.

 

Money Markets Signal Worst of Credit Crisis Is Over as TED Spread Narrows

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

Seems the 'creamy filling' has finally arrived (Puplava's Oreo cookie theory). EDIT: BTW, I had quite a few of these cookies lately. Too sweet for me.

 

Stocks in U.S. Rise as Oil Price Drop Helps Retailers; Europe, Asia Climb

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

WHAT are they smoking at Bloomberg? Stocks advancing because oil is ONLY at $125???? :blink: EDIT: I am looking forward to their cheers at the drop from $200 to $180 in a few months. :lol:

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The grown-up version of Serin Casey. Oh man.

 

California man losing nine homes in mortgage mess

...

"It really wasn't until five months ago that I realized, 'Hey, you know what? Not only am I going to lose everything I have invested but this is going to force me into bankruptcy," he said.

 

"I'm going to lose my car and my primary (home) and we're not going to be able to live in Santa Cruz, where I was born and raised, and live by the beach. And that was pretty tough to take."

We are 1.5 years behind in the UK. What a mess.

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The grown-up version of Serin Casey. Oh man.

We are 1.5 years behind in the UK. What a mess.

 

I respect his honesty. The Piggies are still trying to hide their woes, I think.

Once they fess up, and admit they got it very wrong, and aim to do better next time,

I will be very sympathetic.

 

Denial, and attempting to blame others does not encourage sympathy

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WHAT are they smoking at Bloomberg? Stocks advancing because oil is ONLY at $125???? :blink: EDIT: I am looking forward to their cheers at the drop from $200 to $180 in a few months. :lol:

 

Crazy isn't it! The news anchors keep saying everythings fine, then the data comes out and it's the highest factory gate inflation on record/fastest falling house price on record/highest oil price on record/biggest government deficit on record etc and they blithely say... Ooh that's much better than we expected, see everything really is alright.

 

Interesting take on good=bad here:

 

http://news.goldseek.com/GoldSeek/1210570860.php

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Yes, that's a good one.

Gross Domestic (or National) Product was invented in the 1930s by Simon Kuznets, a Keynesian who worked for the New Deal. Keynes once remarked,

 

“Pyramid-building, earthquakes, even wars may serve to increase wealth.”

 

Based on this idea that earthquakes may create wealth these people developed Gross Domestic Product. Today they tell us that the economy is wonderful (because GDP keeps going up) while around the world people are rioting for food.

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Is the USD at a critical weak point?

Hmm, everyone and their dogs seem to be calling for a major USD bounce. I am not sure what to make of it. Maybe the creamy filling comes along with a stronger Dollar. However, longer term (5y), I see 'black' for most fiat. The Boomers start retiring, this will drag everything down. Deficits will explode.

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What does Jim mean about 15th June?

 

 

 

 

>>>>Dear CIGAs,

 

The following is an image of the new $5 dollar bill.

 

It expires June 15th, 2008.<<<<

 

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What does Jim mean about 15th June?

 

 

 

 

>>>>Dear CIGAs,

 

The following is an image of the new $5 dollar bill.

 

It expires June 15th, 2008.<<<<

Worthless perhaps? :lol:

 

More banks failing

"We are going to see a fair number of bank failures," said Chip MacDonald, partner in the capital markets group Jones Day, a law firm headquartered in Cleveland. "We are in the early innings. For the public banks that have reported earnings for the first quarter, it has not been a pretty picture."

 

http://money.cnn.com/2008/05/12/markets/thebuzz/index.htm

 

 

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What does Jim mean about 15th June?

 

 

 

 

>>>>Dear CIGAs,

 

The following is an image of the new $5 dollar bill.

 

It expires June 15th, 2008.<<<<

Ok, so we're talking $5 / Gallon Gas by June 15th (GOOD FOR ONE GALLON OF GAS) but why the 15th? Is it options expiry?

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Makes me sick eh? $5.00 petrol. We pay £5.00 petrol.

 

What does PPT or PTT mean? See it in context of the gold price manipulators.

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Ok, so we're talking $5 / Gallon Gas by June 15th (GOOD FOR ONE GALLON OF GAS) but why the 15th? Is it options expiry?

July futures expire 20th June... So nope.

 

Maybe stats on reserves are due that day? ... Or maybe this is just Jim playing with us and making random predictions (like he did with the first week of May).

 

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Makes me sick eh? $5.00 petrol. We pay £5.00 petrol.

 

What does PPT or PTT mean? See it in context of the gold price manipulators.

 

Plunge Protection Team.

 

 

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Plunge Protection Team.

 

An interesting phenomenon - a real entity that tries to prevent major crashes. But also a handy fantasy for certain investors to explain every market move that goes against them. ;)

 

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An interesting phenomenon - a real entity that tries to prevent major crashes. But also a handy fantasy for certain investors to explain every market move that goes against them. ;)

 

Certainly real:

 

Bush convenes Plunge Protection Team

 

By Ambrose Evans-Pritchard, International Business Editor

Last Updated: 1:18am GMT 11/01/2008

http://www.telegraph.co.uk/money/main.jhtm...7/ccview107.xml

 

and also interventionist:

 

It appears to have powers to support the markets in a crisis with a host of instruments, mostly by through buying futures contracts on the stock indexes (DOW, S&P 500, NASDAQ and Russell) and key credit levers. And it has the means to fry "short" traders in the hottest of oils.

 

I'm surprised you're not more cynical towards "the powers that be".

I don't think they should be used as an explanation for every market move. But considering their power, and that they do use it, and that sometimes market movements make no sense, it does explain the unexplainable sometimes.

 

 

Go on, read one of the articles from one of the "mad" goldbugs:

 

The Plunge Protection Team

by John Mauldin

http://www.safehaven.com/article-721.htm

 

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The Prelude to Double-Digit Inflation

by Martin D. Weiss, Ph.D. 05-12-08

http://www.moneyandmarkets.com/Issues.aspx...terEntryId=1774

 

Nearly all the pieces are now in place for inflation to strike with increasing speed and fury, catching Wall Street by surprise, throwing government policy into turmoil and, at the same time, opening up broad opportunities for investors.

 

I know. I've seen this movie once before. And the script will forever be ingrained in my mind.

 

It was 1978. Jimmy Carter was president. Oil prices had been surging for nearly seven years.

 

Other commodities — including silver, gold and food — were following closely behind.

 

Wholesale prices, import prices and the price of critical resources were climbing swiftly.

 

Most important, the Fed's pipe-smoking Chairman Arthur Burns, fearing a chain reaction of financial failures, pumped up the money supply with wild abandon, slashed interest rates — and set the stage for the worst U.S. inflation since the Civil War.

 

I saw it all, but I didn't believe it. I assumed Burns would come to his senses, see the obvious danger of inflation and reverse course.

 

But I assumed wrong.

 

Burns plowed ahead regardless of all the signs. He gave lip service to fighting inflation, while continuing to print money. And sure enough, about a year and half after he left the Fed, consumer price inflation was roaring at double-digit rates.

Burns - 1978 | Bernanke - 2008

 

Today, 30 years have gone by.

 

Instead of Burns, we have Bernanke; instead of Carter, we have Bush.

 

And while I marvel at how much the world has changed, it never ceases to amaze me how little the Fed has learned.

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Precious Metals Correction to End in May

Commodities / Gold & Silver May 12, 2008 - 02:02 PM

 

By: Captain_Hook

http://www.marketoracle.co.uk/Article4680.html

 

Neither A Borrower Nor A Lender Be - And most certainly, don't be a gold producer, as the deck is definitively stacked against you here too. We will get back to this subject in just a minute. But first, let's expand on that title, as it's a beauty given global monetary conditions appear to be progressing into a state of hyperinflation . Neither a borrower nor a lender be – is a line first penned by Shakespeare in reference to important lessons in life, which more recently has morphed into a forgotten mores rooted in lessons learned during hard times – or should I say ‘honest money times.' Honest money times – what the heck are ‘honest money times'? Such a terminology implies government and monetary authorities are attempting to pull a fast one in that they are issuing ‘dishonest money'. How can this be when foreigners accept our currency for manufactured ‘hard items', on top of the fact everybody has access to the information concerning currency debasement policies of the present day governing regime?

 

The following is an excerpt from commentary that originally appeared at Treasure Chests for the benefit of subscribers on Friday, April 25th , 2008.

 

The answer to this question is based in the understanding that even in hard times, when people pay closer attention to such matters, a majority of the population would be hard pressed to define the term ‘ money ' in a proper and full context. And once ‘ easy money policies ' have been in place long enough, the living gets so good just about everybody forgets what honest money (money that holds value) is all about. That is to say unlike today, where fiat currencies are printed around the world in an increasingly unbridled fashion, money creation was previously retrained by a gold standard that prevented unfretted currency creation, and this in turn kept the rate at which humans were exploiting natural resources in check. Now unfortunately, because monetary authorities lack any semblance of discipline, we are using up our resources too quickly to remain a sustainable condition, causing huge price fluctuations, and making business increasingly difficult for all.

 

You bet the irony is profound, as implications associated with gold breaking up through the $1,000 mark carry an important message. If gold can go through the four-digit hurdle, and hold, theory suggests it can go to the next four-digit interval ($2,000), and then the next, and the next. So in relation to the theme of this piece, while it appears it's not a good idea to be a borrower or lender anymore, it does appear remaining (becoming) a gold owner will be looked back on as being a stroke of genius if it progresses as described in this manner. Notice I use the terminology ‘gold owner' here, because by anchoring one's wealth in gold, you are neither a borrower nor a lender, but an owner of lasting wealth that transcends the fiat currency world.

 

 

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