Long as he doesn't get his hands on my pebbles...:rolleyes:
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Long as he doesn't get his hands on my pebbles...:rolleyes:
Seems to be gold, solid gold then Christopher. Value running through it like Blackpool through a stick of rock.
Just a minute Dom. If I gave you a few million pounds and asked you to lend it out for interest, the first thing you'll do is find people who you know on probability will pay it back. When those types of people are no longer available, you'll go to the next batch. People less likely to pay their loans back and so on.Quote:
Originally Posted by dominion
You'll do this because everything in the economy is booming, particularly house prices, and interest rates are low. So you give people the benefit of the doubt, after all if they fail to pay, you can always sell their home. Then somebody says to you, I'll give you a million pounds for that debt. So you pass on the debt.
After this you realise that the market rewards you for taking big risks, but after all it's not you that's taking the risk. You get the debt but pass it on as quickly as possible. Soon you become very rich.
There's something else to consider as well. I only found this out a few days ago. In America there are discrimination laws, that demand a certain number of mortgages go to people unlikely to pay them back. So companies by law had to include them as part of their business numbers or face being prosecuted. How perverse is that?
Gold prices have risen $100 dollars an ounce in the last week. Seems to be a value to some, in these difficult times. As I said in an earlier post gold is king.Quote:
Originally Posted by Guick Dotto
I would just like to say that i am seriously considering "bludgeoning" the chef at my place of work.
The price of toast has gone up 5p per slice due to this financial meltdown.
This won't happen today. It won't happen tomorrow. It WILL happen on Thursday. :eek:
Could you buck the trend and take your own bread and jam in, use their toaster but then demand that you only pay them for the electricity used?;)Quote:
Originally Posted by Danbert
Count yourself lucky Danbert. Our canteen was privitised a couple of years back and toast prices have sky rocketed. The current price is 30p per slice.Quote:
Originally Posted by Danbert
Privitised? Turned into a toilet?:confused:
CL is totally correct regarding the gold
Who buys toast:confused:Quote:
Originally Posted by Brummy John
You'd be somewhat annoyed if you'd invested in the BlackRock Gold & General fund 3 months ago!Quote:
Originally Posted by christopher leigh
http://wareing.www.idnet.com/BR%20Go...%20General.jpg
Diversification is King.
Or even take your own toaster and use their electric F.O.C.Quote:
Originally Posted by Vince
Power to the People!!!
Did you notice the word 'general' or 'fund.' Sounds like the welfare state.Quote:
Originally Posted by TheHeathens
Quote:
Originally Posted by christopher leigh
No I didn't :rolleyes::rolleyes: I assume you don't know anything about this fund and are just trying to appear clever? Collective funds offer greater diversification that solely investing in gold and 'can' negate some of the risk associated.
Other than the fact that you're showing naivity in not thinking that the shares of gold companies track the price of gold (and it mirrors it very closely), I'll pick Graham Birch (a proven fund manager) to make investment decisions over you every time!
Look at the 5 year gold price v the 5 year price for Gold & General (the general meaning mining and other precious metals - gold being the primary concern).
Gold Price:
http://www.kitco.com/LFgif/au1825nyb.gif
Notice the peak in March and then about 3 months ago!
Gold & General fund Price:
http://wareing.www.idnet.com/Gold%205%20year.jpg
The previous high for gold before the recent 'boom' was in 1980 at about $850/oz but reached a high in March 2008 of over $1000/oz (since then it's dropped right down again - my original point in my previous post). As gold has been in a bull run since 2001, we may have already seen the peak of the gold price already.
The things that do point towards an increase in Gold's price are:
1) Strong consumer demand from India and China
2) A weak US$
3) Struggling financial markets
4) A reduction in gold output (supply and demand).
However, if anyone puts all of their money in gold (as 'Gold is King') quite frankly deserves to lose all their money for stupidity. You need to diversify across a number of investments.
Am I to take this seriously? Heathens are you telling me that when/if the economy collapses, you're going to wait in a queue with other investors for Mr Birch to supply your gold? That's Just like Expecting the very nice bank manager from the Halifax, to provide you with cash if they go bust.Quote:
Originally Posted by TheHeathens
You clearly don't understand gold's status in the market. This is because you're blinded by normal economic conditions, and cannot apply economic principles away from the norm. Well you'll get a shock if our economy continues the plunge, because the norm won't apply.
The clever money is invested in the toast futures market.
Gee i am glad that i only have enough to get by on, i could`nt be arsed with all that investment marlarky.
Am i alone in thinking what the hell is all the fuss about and just enjoying life after all i could be dead tommorow as could any of us, but at least i don`t have to worry about what i leave behind cause there aint a lot.
Life is for living surely and for me that will do.
Less is more. You can't take it with you.
Spot on and i also figure you can`t worry about what you haven`t got.Quote:
Originally Posted by Margarine
Quote:
Originally Posted by christopher leigh
Are you serious? I'm guessing there's no point in asking you whether the glass is half-empty or half-full! Do you seriously think that we are heading into economic meltdown with complete stock-market collapse and multiple runs on banks?
Where exactly did I say that Graham Birch would supply the gold? I'm fully aware of gold's status in the market as a safe haven during an economic downturn, but investing in gold equities is as valid as gold ownership - when gold is in demand, so are shares for gold companies.
Believe it or not, this is not the first economic downturn ever and history shows the above to be correct. What I have said it's awful advice to put all of your money in gold or gold equities(true), just as it's awful advice to have all of your money in cash deposit accounts (and who needs more than £35,000 invested in deposit accounts?) unless you are extremely averse to risk.
Fact is, this economic downturn is not as bad as the doom and gloom merchants (step forward Mr Leigh) would have you believe. Financials have been in a 20 year bubble and have taken too much risk; this is just a readjustment of that risk that is unfortunately putting pressure on the markets. We may be heading for a recession, but we're not quite at depression stage yet!
I've mentioned twice that Diversification is Key and you've avoided it twice - very few of our clients have lost money in the last year even with the FTSE down by about 20% because we've diversified their portfolios. Even with the little bounce in gold prices last week, people who invested directly in gold in March (at the high point) would have lost 10% of their investment, on paper at least.
For the record, I do think that gold has some way to go before peaking - adjusting for inflation the peak in 1980 equates to about $2,200/oz, more than double the recent peak. There are just more ways to invest in it than doing so through direct investment.
Quote:
Originally Posted by brummy John
Snigger
Well Theheathens has won the argument....... but lost the plot :D. All these graphs are reminding me of work rather than fell running.
And we aint even mentioned silver
Or The Loan Arranger...
On the Daily Show with John Stewart yesterday there was footage of George Dubya explaining this situation to mere mortals like myself: "turns out all these institutions have interlinks"(!) Well I'm glad we established that!
By the way, does anyone know what the price of green's doing at the moment? I'm thinking of selling my broach.
You have a broach the shape of a broccoli?Quote:
Originally Posted by southernsoftie
Sharia banking starts to look attractive!
"Gold & General" ;)Quote:
Originally Posted by daz h
The glass can be neither half-full nor half-empty.Quote:
Originally Posted by TheHeathens
So I decide I want to invest in gold. I can buy gold straight at the price it's offered or I can invest in a fund. If I buy it straight from the dealer, the gold is in my possession.
If it's in a fund it's kept somewhere else.Now let me see: Since the gold is kept by someone else I'd have to pay storage charges. So there goes some of my gold in costs. I've also got to pay someone to manage the gold fund. There goes some more of my gold in management fees. Then there's security. It costs a lot to guard the gold. And what about insurance. You'd have to insure it if it was in someone Else's possession.
By the time you'd finished all your gold would be lost in paying for the operation of the fund.
Now I've never told people to put all their money in gold. I've just explained why gold is king, as part of a discussion on the economy. I don't tell them either that diversification is king, or necessarily good which you seem to imply. Diversification can lead to economic ruin as well, if you invest in the wrong things.
One last point I'm not the only one who thinks things are bad. You stated that 'we're not quite at depression stage yet.' Since we've only had one depression in the last century(that I can recall) you too believe things are bad, and are one of the doom and gloom merchants.
Witton, Daz H and Myself will welcome you to our club.
Have to say, if I was to have money to invest (snigger.....), didn't like the sound of Toast futures (mine would always land butter side down) and was going to choose my investment advisor from the FRA Forum (hysterical laughter) I'd be choosing TheHeathens rather than CL
Well then you must be as thick as the rest of us!Quote:
Originally Posted by Boy Wonder
Seasick Steve's new album is called 'I started with nothing and still have most of it left'Quote:
Originally Posted by JohnK
pity we can't run up and down the graphs, looks like quite a workout and challenge to me, albeit with a lot more downhill flyers recently:)Quote:
Originally Posted by Stolly
I invested in tickets for him next next month. I have no idea where they are! :confused:Quote:
Originally Posted by harrymoon
Please excuse my ignorance on these matters but I would appreciate a bit of advice.
Im off to New York at the end of October (to run the 26.2mile fell race they have through the boroughs). Usually on holiday I change sterling to the local currency before I leave the UK.
What I am wondering is - should I wait 'til the last minute to buy my dollars
or get them soon?
Take pebbles.;)
http://www.youtube.com/watch?v=iWAnJQfywpoQuote:
Originally Posted by Grouse
Will she go??
:d:d:d:d
is that your new currency?? :eek::DQuote:
Originally Posted by Grouse
Pebbles looks 'takeable' to me :)Quote:
Originally Posted by Grouse
http://www.80stees.com/images/produc...s_BamBam-T.jpg