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 Fed Reserve Fails to Reflate the US Banking System |
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 Jan 25 2009, 10:03 AM
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NWP Big Baby Jesus
Group: Administrators
Posts: 10,967
Joined: 23-February 05
From: Elvee Envy
Member No.: 503
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QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM)  Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! I was shocked at how bad the news coming out of the UK was last week. Apparently the situation is similar to what happened to Iceland a few months ago when their currency went off a cliff. In America, all of our bad economic data is, at worst, compared against the 1930s. It's supposedly a real possibility that the UK could default on its debt for the first time since the fucking Middle Ages. http://www.thetrumpet.com/index.php?q=5872.4237.0.0
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"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
-Abraham Lincoln 1864
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Jan 25 2009, 10:22 AM
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NWP Pirahna
Group: Members
Posts: 2,182
Joined: 10-November 07
Member No.: 6,505
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QUOTE(DirtyB @ Jun 24 2009, 06:03 PM) QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM) Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! I was shocked at how bad the news coming out of the UK was last week. Apparently the situation is similar to what happened to Iceland a few months ago when their currency went off a cliff. In America, all of our bad economic data is, at worst, compared against the 1930s. It's supposedly a real possibility that the UK could default on its debt for the first time since the fucking Middle Ages. http://www.thetrumpet.com/index.php?q=5872.4237.0.0Yeah the UK is going to crash at some point but i dont think we will end up like Iceland, we may end up changing over to the Euro though, I dont think thats an entirely bad thing in the long run. http://www.marketwatch.com/news/story/Econ...AEB36F40D99B%7Dhttp://www.calculatedriskblog.com/2009/01/...ot-iceland.html
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Jan 25 2009, 10:58 AM
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NWP wanker
Group: NWP Avatar-Deprived
Posts: 943
Joined: 21-December 04
Member No.: 328
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QUOTE(DirtyB @ Jan 25 2009, 06:03 PM) QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM) Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! I was shocked at how bad the news coming out of the UK was last week. Apparently the situation is similar to what happened to Iceland a few months ago when their currency went off a cliff. In America, all of our bad economic data is, at worst, compared against the 1930s. It's supposedly a real possibility that the UK could default on its debt for the first time since the fucking Middle Ages. http://www.thetrumpet.com/index.php?q=5872.4237.0.0QUOTE Over the first three weeks of this year, banking giant Barclays has lost 62 percent of its value. The Royal Bank of Scotland is down 78 percent, and Lloyds Banking Group has plummeted 69 percent. Even London-based international banking group hsbc Holdings has fallen 25 percent. Um. I'm retarded when it comes to economics. I have 80% of my bankroll sitting in my lloyds tsb current account. Should I move it to a bank that hasn't fucked up? Can a bank's shares go to shit and the bank still be safe to house cash? Maybe it's time to store gold in the attic.
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Jan 25 2009, 11:06 AM
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NWP Pirahna
Group: Members
Posts: 2,182
Joined: 10-November 07
Member No.: 6,505
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QUOTE(thomasdrool @ Jun 24 2009, 06:58 PM) QUOTE(DirtyB @ Jan 25 2009, 06:03 PM) QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM) Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! I was shocked at how bad the news coming out of the UK was last week. Apparently the situation is similar to what happened to Iceland a few months ago when their currency went off a cliff. In America, all of our bad economic data is, at worst, compared against the 1930s. It's supposedly a real possibility that the UK could default on its debt for the first time since the fucking Middle Ages. http://www.thetrumpet.com/index.php?q=5872.4237.0.0QUOTE Over the first three weeks of this year, banking giant Barclays has lost 62 percent of its value. The Royal Bank of Scotland is down 78 percent, and Lloyds Banking Group has plummeted 69 percent. Even London-based international banking group hsbc Holdings has fallen 25 percent. Um. I'm retarded when it comes to economics. I have 80% of my bankroll sitting in my lloyds tsb current account. Should I move it to a bank that hasn't fucked up? Can a bank's shares go to shit and the bank still be safe to house cash? Maybe it's time to store gold in the attic. Your money will be safe, the banks would be nationalised if theres systemic failure, though the main problem is credit to fund business, if this fails with the latest 200 billion injection then there will be an economic fog, but for now your allright. http://www.guardian.co.uk/business/2008/oct/03/banking.banks
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Jan 25 2009, 11:06 AM
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NWP Penny Pro
Group: NWP Eurodonk
Posts: 11,978
Joined: 9-August 04
Member No.: 149
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You are a UK citizen right TD? If so your account is protected upto £50k currently I believe.
I'm slightly more concerned about the Pound going through the floor and my savings being worth nothing, anyone got any ideas on this? I was thinking of putting a chunk into Gold as a hedge, but I'm not sure if my read of the gold/$/£ relationship is correct.
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 pay me to post obv QUOTE(Neverwin) nothing worse than all the filthy degenerates hating, you guys all ruined my day, fuck you all |
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Jan 25 2009, 11:11 AM
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NWP Big Baby Jesus
Group: Administrators
Posts: 10,967
Joined: 23-February 05
From: Elvee Envy
Member No.: 503
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QUOTE(thomasdrool @ Jan 25 2009, 10:58 AM) Um. I'm retarded when it comes to economics. I have 80% of my bankroll sitting in my lloyds tsb current account. Should I move it to a bank that hasn't fucked up? Can a bank's shares go to shit and the bank still be safe to house cash? Maybe it's time to store gold in the attic. If you and everyone else with a Lloyd's account just lost their balances, it would pretty much be the global financial apocalypse and it wouldn't matter where your money was. Gold prices are at historic highs. You might be able to keep up with inflation owning gold, but I wouldn't expect much more.
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"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
-Abraham Lincoln 1864
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Jan 25 2009, 11:14 AM
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NWP Pirahna
Group: Members
Posts: 2,182
Joined: 10-November 07
Member No.: 6,505
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QUOTE(Shooz @ Jun 24 2009, 07:06 PM) You are a UK citizen right TD? If so your account is protected upto £50k currently I believe.
I'm slightly more concerned about the Pound going through the floor and my savings being worth nothing, anyone got any ideas on this? I was thinking of putting a chunk into Gold as a hedge, but I'm not sure if my read of the gold/$/£ relationship is correct. I put a chunk in gold a while back before the meltdown, now a few of the economists reckon gold is going to go through the roof and the fed is currently manipulating the price( a bit like wyle e coyote running off a cliff and running on thin air) if your saving over long term i would sit tight.
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Jan 25 2009, 11:17 AM
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NWP wanker
Group: NWP Avatar-Deprived
Posts: 943
Joined: 21-December 04
Member No.: 328
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Yeah, that's me safe then.
Just looking over some gold graphs, it looks like a good proposition compared to the pound, but only because the pound is terrible. The dollar has been better than gold the past year. I think I'm just gonna stop cashing out from pokerstars and see what happens. $ seems a good bet.
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Jan 25 2009, 11:30 AM
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NWP Penny Pro
Group: NWP Eurodonk
Posts: 11,978
Joined: 9-August 04
Member No.: 149
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QUOTE(Karl_Pilkington @ Jan 25 2009, 07:14 PM) QUOTE(Shooz @ Jun 24 2009, 07:06 PM) You are a UK citizen right TD? If so your account is protected upto £50k currently I believe.
I'm slightly more concerned about the Pound going through the floor and my savings being worth nothing, anyone got any ideas on this? I was thinking of putting a chunk into Gold as a hedge, but I'm not sure if my read of the gold/$/£ relationship is correct. I put a chunk in gold a while back before the meltdown, now a few of the economists reckon gold is going to go through the roof and the fed is currently manipulating the price( a bit like wyle e coyote running off a cliff and running on thin air) if your saving over long term i would sit tight. yes I have a nice chunk which means theoretically I don't have to work for ~5 years, so whilst the lack of interest rates is pretty annoying currently, I'm slightly concerned about the Pound crashing and making my prudence totally worthless. Obviously I would love my wealth to be improving but at the moment I would be happy to just hedge it and play safe. Is there a real danger of sterling savings losing alot of value? It seems to me there is, but I have no economic education and can only judge by the media and what little knowlege I've picked up along the way.
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pay me to post obv QUOTE(Neverwin) nothing worse than all the filthy degenerates hating, you guys all ruined my day, fuck you all |
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Jan 25 2009, 11:38 AM
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NWP Big Baby Jesus
Group: Administrators
Posts: 10,967
Joined: 23-February 05
From: Elvee Envy
Member No.: 503
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QUOTE(Shooz @ Jan 25 2009, 11:30 AM) yes I have a nice chunk which means theoretically I don't have to work for ~5 years, so whilst the lack of interest rates is pretty annoying currently, I'm slightly concerned about the Pound crashing and making my prudence totally worthless.
Obviously I would love my wealth to be improving but at the moment I would be happy to just hedge it and play safe.
Is there a real danger of sterling savings losing alot of value? It seems to me there is, but I have no economic education and can only judge by the media and what little knowlege I've picked up along the way. If you're willing to pay some fees, a financial adviser can help you out. They can convert your savings to a mix of currencies and other safe investments.
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"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
-Abraham Lincoln 1864
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Jan 25 2009, 11:39 AM
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NWP Pirahna
Group: Members
Posts: 2,182
Joined: 10-November 07
Member No.: 6,505
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QUOTE(Shooz @ Jun 24 2009, 07:30 PM) QUOTE(Karl_Pilkington @ Jan 25 2009, 07:14 PM) QUOTE(Shooz @ Jun 24 2009, 07:06 PM) You are a UK citizen right TD? If so your account is protected upto £50k currently I believe.
I'm slightly more concerned about the Pound going through the floor and my savings being worth nothing, anyone got any ideas on this? I was thinking of putting a chunk into Gold as a hedge, but I'm not sure if my read of the gold/$/£ relationship is correct. I put a chunk in gold a while back before the meltdown, now a few of the economists reckon gold is going to go through the roof and the fed is currently manipulating the price( a bit like wyle e coyote running off a cliff and running on thin air) if your saving over long term i would sit tight. yes I have a nice chunk which means theoretically I don't have to work for ~5 years, so whilst the lack of interest rates is pretty annoying currently, I'm slightly concerned about the Pound crashing and making my prudence totally worthless. Obviously I would love my wealth to be improving but at the moment I would be happy to just hedge it and play safe. Is there a real danger of sterling savings losing alot of value? It seems to me there is, but I have no economic education and can only judge by the media and what little knowlege I've picked up along the way. If your invested long term youll either have a recovered Pound or youll have Euro, trading just now is -ev unless you know whats going to happen.
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Jan 25 2009, 11:45 AM
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NWP Penny Pro
Group: NWP Eurodonk
Posts: 11,978
Joined: 9-August 04
Member No.: 149
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QUOTE(Karl_Pilkington @ Jan 25 2009, 07:39 PM) If your invested long term youll either have a recovered Pound or youll have Euro, trading just now is -ev unless you know whats going to happen. Yeah recovered pound has always been my view, but it looks so far away at the moment. Surely if we do end up jumping to Euro my lump will be worth alot less than it is now relatively speaking?
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pay me to post obv QUOTE(Neverwin) nothing worse than all the filthy degenerates hating, you guys all ruined my day, fuck you all |
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Jan 25 2009, 11:47 AM
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NWP Penny Pro
Group: NWP Eurodonk
Posts: 11,978
Joined: 9-August 04
Member No.: 149
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QUOTE(DirtyB @ Jan 25 2009, 07:38 PM) Diversify your bonds nigga  I can get a free financial advisor from at least one of the institutions I have money with, although I'm sure paying someone will be much more benificial...
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pay me to post obv QUOTE(Neverwin) nothing worse than all the filthy degenerates hating, you guys all ruined my day, fuck you all |
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Jan 25 2009, 11:50 AM
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NWP Pirahna
Group: Members
Posts: 2,182
Joined: 10-November 07
Member No.: 6,505
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QUOTE(Shooz @ Jun 24 2009, 07:45 PM) QUOTE(Karl_Pilkington @ Jan 25 2009, 07:39 PM) If your invested long term youll either have a recovered Pound or youll have Euro, trading just now is -ev unless you know whats going to happen. Yeah recovered pound has always been my view, but it looks so far away at the moment. Surely if we do end up jumping to Euro my lump will be worth alot less than it is now relatively speaking? All i know is if the government starts nationalising everything, any recovery will be alot longer, Gordon Brown is still in shock his first plan has failed, and basically told the world leaders to copy his plan, bad times ahead.
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Jan 26 2009, 11:28 PM
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NWP Big Baby Jesus
Group: Administrators
Posts: 10,967
Joined: 23-February 05
From: Elvee Envy
Member No.: 503
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QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM) Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! The DJIA was up 38, FTSE up almost 4%.....brutal.
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"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
-Abraham Lincoln 1864
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Jan 27 2009, 01:56 AM
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NWP Pirahna
Group: Members
Posts: 2,182
Joined: 10-November 07
Member No.: 6,505
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QUOTE(DirtyB @ Jan 27 2009, 07:28 AM) QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM) Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! The DJIA was up 38, FTSE up almost 4%.....brutal. All the economic data was bad, layoffs all over europe and US(All big companies), pay freezes, bankruptcies, yet the markets rallied. 
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Jan 27 2009, 07:33 AM
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NWP Big Baby Jesus
Group: Administrators
Posts: 10,967
Joined: 23-February 05
From: Elvee Envy
Member No.: 503
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QUOTE(Karl_Pilkington @ Jan 27 2009, 01:56 AM) QUOTE(DirtyB @ Jan 27 2009, 07:28 AM) QUOTE(Karl_Pilkington @ Jan 25 2009, 09:26 AM) Tomorrow is going to be a bloodbath in the UK and the USA, CRASH TIMES COMIN!!!!!!!!!!!!!!!!! The DJIA was up 38, FTSE up almost 4%.....brutal. All the economic data was bad, layoffs all over europe and US(All big companies), pay freezes, bankruptcies, yet the markets rallied. I love the old saying "The markets can stay irrational longer than you can stay solvent."
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"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
-Abraham Lincoln 1864
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