Currency
Apr 3rd 2013, 4:41 am
#256
BE Forum Addict
Thread Starter
Joined: Sep 2006
Posts: 4,298
Re: Currency
I'll see your telepraph, and raise you a BBC....
http://www.bbc.co.uk/news/business-13366011
This graph shows the condition of each member of the Eurozone, and the UK for comparison. They're all in deficit, except maybe Estonia. Including the UK.
The mainstream media, however, is owned and controlled by the people who own the central banks, A.K.A. "The People Who Broke The World", so can be manipulated. I tend to get my information from the 'alternate' media, taking care to avoid the obvious paranoids, and the 'tinfoil hat' brigade.
To (sort of) answer your earlier question about what I would do if I had money in the UK, my level of risk taking is higher than yours. As I said in an earlier post, I've been rich and I've been poor, so the idea of being poor doesn't scare me. For example, back in my 20's, I was put in a position of having to leave Rhodesia, due to the civil war which was going on, and various people wanting me to pick up a gun and go shoot people, which I objected to, mainly because those buggers shot back!! I left Rhodesia, and arrived in the UK with a haversack on my back and twenty quid in my pocket. Obviously, I survived, thrived, and went on to bigger 'n' better things.
My philosophical outlook is "Half a loaf is better than none." I'll let you draw your own conclusions as to what I would do with any UK money. (Hint: "Mrs DUP! Do you fancy a splurge at Marks 'n' Sparks Online Store? I'll use my Santander debit card to pay for it and use up this UK dosh!")
No prizes for guessing what Mrs Dup's response was! Man! That was a BIG parcel!!
http://www.bbc.co.uk/news/business-13366011
This graph shows the condition of each member of the Eurozone, and the UK for comparison. They're all in deficit, except maybe Estonia. Including the UK.
The mainstream media, however, is owned and controlled by the people who own the central banks, A.K.A. "The People Who Broke The World", so can be manipulated. I tend to get my information from the 'alternate' media, taking care to avoid the obvious paranoids, and the 'tinfoil hat' brigade.
To (sort of) answer your earlier question about what I would do if I had money in the UK, my level of risk taking is higher than yours. As I said in an earlier post, I've been rich and I've been poor, so the idea of being poor doesn't scare me. For example, back in my 20's, I was put in a position of having to leave Rhodesia, due to the civil war which was going on, and various people wanting me to pick up a gun and go shoot people, which I objected to, mainly because those buggers shot back!! I left Rhodesia, and arrived in the UK with a haversack on my back and twenty quid in my pocket. Obviously, I survived, thrived, and went on to bigger 'n' better things.
My philosophical outlook is "Half a loaf is better than none." I'll let you draw your own conclusions as to what I would do with any UK money. (Hint: "Mrs DUP! Do you fancy a splurge at Marks 'n' Sparks Online Store? I'll use my Santander debit card to pay for it and use up this UK dosh!")
No prizes for guessing what Mrs Dup's response was! Man! That was a BIG parcel!!
Apr 3rd 2013, 10:50 pm
#257
BE Enthusiast
Joined: Jan 2012
Location: St Albans, Christchurch
Posts: 586
Re: Currency
Bit of a silly question , but how do you sell off silver coins should the time come to cash up? Does the dealer take another cut or do people actually buy them off trademe?
Apr 4th 2013, 12:07 am
#258
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Currency
http://www.trademe.co.nz/Browse/Sear...&rptpath=0187-
Jewellers. Bullion dealers. Pawnshops. Advertise in local supermarket.
Sell bullion the same way that you'd sell anything else.
(Of course, the idea is to wait until the price goes considerably higher than it was when you bought...)
Jewellers. Bullion dealers. Pawnshops. Advertise in local supermarket.
Sell bullion the same way that you'd sell anything else.
(Of course, the idea is to wait until the price goes considerably higher than it was when you bought...)
Apr 4th 2013, 12:28 pm
#259
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,241
Re: Currency
NZD still doing well against GBP, looks like RBNZ are over-committed on rates already so unlikely to step in as inflation up-ticks.
BOE have stopped printing for QE as inflation swings up well ahead of target and BOJ is going to try a money printing experiment that has taken everyone by surprise.
BOE have stopped printing for QE as inflation swings up well ahead of target and BOJ is going to try a money printing experiment that has taken everyone by surprise.
Apr 4th 2013, 10:32 pm
#260
BE Enthusiast
Joined: Jan 2012
Location: St Albans, Christchurch
Posts: 586
Re: Currency
Sounds like BOJ are going to try a massive stimulus. Think I read they are going to pump in $140billion USD a month into infrastructure and bricks and mortar. Georgie boy take note.
Apr 4th 2013, 10:52 pm
#261
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Currency
ABN AMRO, the largest Dutch bank in the Eurozone, issued a letter to their gold contract customers of failure of delivery, and instead will pay account holders in a paper currency equivalent to the current spot value of the metal."
"ABN AMRO, the biggest Dutch bank, has sent a letter to its clients stating that they will no longer be able to take physical deliveries of the gold they have bought through ABN. Instead they are offered money at the current market rate for gold. Basically, instead of owning a risk free, physical asset (a gold bar or a gold coin), the bank’s clients now own a monetary claim on ABN AMRO, being exposed to the bank's credit risk"
http://www.examiner.com/article/larg...tomers?cid=rss
Oh, yeah! Wait for it....
I.
Told.
You.
So.
(I know - I'm childish.
)And did you notice that weasel phrase - "paper currency equivalent to the current spot value of the metal". As we all know, spot value is less than market value.
Apr 4th 2013, 11:34 pm
#262
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Currency
ARE THEY COMPLETELY NUTS???!!!
Quantitative (Monetary) easing DOES NOT WORK. (It doesn't work because these idiots print the money, then give it to the banks, who then loan it to people and charge them interest.) That's not going to stimulate anything, except bank profits.
Idiots.
Last edited by downunderpom; Apr 4th 2013 at 11:38 pm.
Apr 5th 2013, 1:10 am
#263
221b Baker Street
Joined: Jun 2010
Location: Miles from anywhere, Victoria, Australia.
Posts: 14,125
Re: Currency
Japan's public debt is 12.5 trillion dollars (US). They are talking about doubling their monetary base (printing double the JPY presently in existence) by the end of next year.
ARE THEY COMPLETELY NUTS???!!!
Quantitative (Monetary) easing DOES NOT WORK. (It doesn't work because these idiots print the money, then give it to the banks, who then loan it to people and charge them interest.) That's not going to stimulate anything, except bank profits.
Idiots.
ARE THEY COMPLETELY NUTS???!!!
Quantitative (Monetary) easing DOES NOT WORK. (It doesn't work because these idiots print the money, then give it to the banks, who then loan it to people and charge them interest.) That's not going to stimulate anything, except bank profits.
Idiots.
Apr 5th 2013, 1:19 am
#264
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Currency
Did you know that the derivative exposure is somewhere around a QUADrillion dollars? That a thousand trillion. A million billion. A thousand million million.
$1,000,000,000,000,000.00
GLOBAL Gross Domestic Product is around 70 trillion.
There's not enough money in the world, and printing it just devalues what's already in existence. If they printed money, and handed out $10,000 to each household, and said "Here ya go! Enjoy!" then the money would get spent, and the economy would regenerate. But if they did that then the banks wouldn't make a dime, and the world is run by banksters.
Apr 5th 2013, 3:42 am
#265
BE Forum Addict
Thread Starter
Joined: Sep 2006
Posts: 4,298
Re: Currency
Unfortunately, the money which was generated was generated from thin air. There was nothing of any value behind it. It was also generated to bail out the banks, which were at the point of failure due to their bad gambling habits. I'm going to use a rude word, now: derivatives. The art of selling the same thing, over and over again, to different people, and creating an 'item of value' from thin air.
Did you know that the derivative exposure is somewhere around a QUADrillion dollars? That a thousand trillion. A million billion. A thousand million million.
$1,000,000,000,000,000.00
GLOBAL Gross Domestic Product is around 70 trillion.
There's not enough money in the world, and printing it just devalues what's already in existence. If they printed money, and handed out $10,000 to each household, and said "Here ya go! Enjoy!" then the money would get spent, and the economy would regenerate. But if they did that then the banks wouldn't make a dime, and the world is run by banksters.
Did you know that the derivative exposure is somewhere around a QUADrillion dollars? That a thousand trillion. A million billion. A thousand million million.
$1,000,000,000,000,000.00
GLOBAL Gross Domestic Product is around 70 trillion.
There's not enough money in the world, and printing it just devalues what's already in existence. If they printed money, and handed out $10,000 to each household, and said "Here ya go! Enjoy!" then the money would get spent, and the economy would regenerate. But if they did that then the banks wouldn't make a dime, and the world is run by banksters.
Apr 5th 2013, 4:39 am
#266
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,241
Re: Currency
Japan is trying to stop a massive debt bubble from unwinding further (as it has been for years). Luckily only massive idiots would grow an economy on a cheap debt asset bubble, we are so lucky that NZ...O...Oh wait!
ABN Amro didn't run out of gold, they sold their physical dealing business to Deutsche Bank. They just retailed it anyway, never held physical reserves (for obvious reasons). ABN will now switch to UBS to supply precious (My Preciouses!) metals to supply preppers and manufacturing businesses.
ABN Amro didn't run out of gold, they sold their physical dealing business to Deutsche Bank. They just retailed it anyway, never held physical reserves (for obvious reasons). ABN will now switch to UBS to supply precious (My Preciouses!) metals to supply preppers and manufacturing businesses.
Apr 6th 2013, 2:46 am
#267
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Currency
Just to put it in perspective, here's a comparison of the debt figures for OZ, NZ and UK. If anyone wants to see some really depressing figures, you can see each country's debt here: http://www.economist.com/content/global_debt_clock
PIIGS have really nasty numbers.
PIIGS have really nasty numbers.
Apr 9th 2013, 5:54 am
#268
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,241
Re: Currency
Sell JPY buy NZD?
I can't see RBNZ being able to hold onto low rates in the face of a Fitch warning that housing credit is getting out of control.
I can't see RBNZ being able to hold onto low rates in the face of a Fitch warning that housing credit is getting out of control.
Apr 9th 2013, 6:27 am
#269
I like kittens.
Joined: Oct 2003
Location: In my own little world
Posts: 1,457
Re: Currency
WRT RBNZ raising interest rates, I think this is more of a 'shot across the bows', to make people slow down. If they do raise interest rates, there will be another run on the NZ$, bumping up the value. That's the LAST thing they want!
Apr 9th 2013, 7:00 am
#270
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,241
Re: Currency
Or is a housing boom with loss of credit rating and bust the last thing they want? Their choice either way.