I did say Buy Gold if only i was richer

[andypaul]

httphttp://news.bbc.co.uk/1/hi/magazine/7657178.stm://


Look at the financial whizz kid that is Mr brown and his cronies


What is the most vital asset to keep for times when we are in Need oh Gold.

i know lets sell its when its at a low then less than 10 years later we will have buger all reserves


below is one dealer maties view of the great baill out today

Who are they going to lend to? Debt drowned consumers (shop harder people)? Or perhaps more mortgages and commercial property loans (hmmm against rapidly deflating assets...not very smart)?
Everybody is still pretending this is a liquidity crisis - that's total - the liquidity problems in the banking system are a DIRECT result of massive, MASSSIVE insolvency.

They should have covered all depositors and then let the insolvent banks go bankrupt. Cleared out the balance sheet's loans through the bankruptcy system (recognising the actual value of the awful assets they still refuse to acknowledge). Then, and only then, the government could have helped to seed RBS 2.0 or whatever if they really want to. This would have off all the banker fat cats though; equity to zero; bondholders hurting: Tough I say.

Have no doubt that today the taxpayer's money has been away.

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner - as the result of voluntary abandonment of further credit expansion, or later - as a final and total catastrophe of the currency system involved."

- Von Mises, 1949


We are all doomed.

Quick wheres me SMB mustn't waste time

[fred]

Not really looked at this rescue plan just yet..
Didn't they just buy bank assets? Nationalize them to some extent? Wont the country reap any benefits from these new assets once things begin to return to normal in lets say..5 years?
Im glad they did something as I have a wad in RBS thats not all insured by the IOM regulators..
I wonder what the Isle of man has done to protect the savings in its bank accs?

Where did the UK Gov borrow this money from when no one is lending money?
Im guessing that they kind of wrote an IOU out to themselves and simply had it printed?
If thats true,what terms do they use to pay them selves back?
Imagine all the interest they have to charge themselves.

[andypaul]

Not really looked at this rescue plan just yet..
Didn't they just buy bank assets? Nationalize them to some extent? Wont the country reap any benefits from these new assets once things begin to return to normal in lets say..5 years?
Im glad they did something as I have a wad in RBS thats not all insured by the IOM regulators..
I wonder what the Isle of man has done to protect the savings in its bank accs?

Where did the UK Gov borrow this money from when no one is lending money?
Im guessing that they kind of wrote an IOU out to themselves and simply had it printed?
If thats true,what terms do they use to pay them selves back?
Imagine all the interest they have to charge themselves.

The next big words we will come to hate will be Inflation and deflation.

Read up in what happened in japan for possible eventualities.

If you have a fixed rate loan just bear in mind what deflation can do to that loan

Im sure we will all ride it out and I hope everyone keeps hold of their money they worked hard for.

People more wiser in years than me will know how these nasty words made many peoples lives a misery in years gone by in various parts of the world.

From those who understand these things they say if things do even out as most of the world wills and wants it to that 2012 is paid for already.

Its the massive risks which seem to be formulate by people who are not really there because of their great skill and experience in world ecomnics. They are MPS who found themselves in the job.

Most treasury people are there because no one head hunted them for the city just up the district line.

The isle of man i think would be hoping for assitance from the UK/eu if it had to prop up a Bank dont you think?