Reply to: Crash is on its way

[PurpleGorilla]

You need to look at the gold price in the preceding month before Gordon told everyone he would like to dump his gold on the market to raise money...

Oh I know, bloody idiot!

[bobspud]

According to this it raised $3.5bn.

https://en.m.wikipedia.org/wiki/Sale...9%E2%80%932002

Cost to bail out the banks in 2009, £135bn.

You need to look at the gold price in the preceding month before Gordon told everyone he would like to dump his gold on the market to raise money...

[PurpleGorilla]

Crash is on its way

Historically speaking not really... Germany has 3,380 - Poor poor Italy has 2,400 - lol even the Netherlands has twice UK gold reserves - France 2,435 tons - Basically Europe is a lot richer

That'll be boomers and your generation selling off our nation's assets then.

Is that why they call them gold plated pensions (suck it up snowflakes).

Still the snowflakes can have a gold iPhone I suppose.

[scooterscot]

Is 395 tons of the stuff a trifling amount?

Historically speaking not really... Germany has 3,380 - Poor poor Italy has 2,400 - lol even the Netherlands has twice UK gold reserves - France 2,435 tons - Basically Europe is a lot richer

[PurpleGorilla]

To DimPrawn it is.

[PurpleGorilla]

Is 395 tons of the stuff a trifling amount?

According to this it raised $3.5bn.

https://en.m.wikipedia.org/wiki/Sale...9%E2%80%932002

Cost to bail out the banks in 2009, £135bn.

[BrilloPad]

Is 395 tons of the stuff a trifling amount?

To DimPrawn it is.

[Benny]

Actually the UK did not have that much gold before Gordon sold it.

Is 395 tons of the stuff a trifling amount?

[PurpleGorilla]

Just when you think the road will run out someone lays more tarmac.

New roads? In Britain!

No chance.

[scooterscot]

The question is how long the can will be kicked down the road.

Just when you think the road will run out someone lays more tarmac.

[scooterscot]

Actually they didn't blame him per-se. What they did do was vilify the useless jock bastard for spending just about every penny he could find for no benefit, chaining us to ******* calamitous Private Finance Initiatives, selling the gold by announcing his intentions to the market so they could screw us and basically ensured that at the point we needed some money in our coffers to solve the ******* huge tsunami that had just engulfed us, we had NOTHING...

Actually the UK did not have that much gold before Gordon sold it. It would have made feck all difference in the credit bubble - George boy would still have QE'd the pound into the ground.

As for PPI, remarkably UK government is doing it again with EDF and Chinese contractors building power stations - you will pay for being useless.

[BrilloPad]

I will make a prediction about the future. When the crash comes, and there will be a crash in the future, be it 30 weeks or 30 years, you can be absolutely certain that there will be people very loudly blaming Brexit.

No. They will be blaming those who voted Brexit. Well blame is the wrong word. They will be loving it. They are desperate to be proved right.

They should all be sent to Syria and the UK can take Syrian immigrants in return.

[BrilloPad]

Actually they didn't blame him per-se. What they did do was vilify the useless jock bastard for spending just about every penny he could find for no benefit, chaining us to ******* calamitous Private Finance Initiatives, selling the gold by announcing his intentions to the market could screw us and basically ensured that at the point we needed some money in our coffers to solve the ******* huge tsunami that had just engulfed us, we had NOTHING...

He stuffed the economic cycle by reducing interest rates too far thus making sure the boom was far worse than it should have been.

Now interest rates are way too low. 2008 will look like a picnic compared to the next crash. The question is how long the can will be kicked down the road.

[bobspud]

I will make a prediction about the future. When the crash comes, and there will be a crash in the future, be it 30 weeks or 30 years, you can be absolutely certain that there will be people very loudly blaming Brexit.

Remember, people blamed Gordon Brown for the total and complete meltdown of the global financial system in 2007/2008. Quite impressive he had that power.

Actually they didn't blame him per-se. What they did do was vilify the useless jock bastard for spending just about every penny he could find for no benefit, chaining us to ******* calamitous Private Finance Initiatives, selling the gold by announcing his intentions to the market so they could screw us and basically ensured that at the point we needed some money in our coffers to solve the ******* huge tsunami that had just engulfed us, we had NOTHING...

[chopper]

It's difficult to make predictions.

Especially about the future.

I will make a prediction about the future. When the crash comes, and there will be a crash in the future, be it 30 weeks or 30 years, you can be absolutely certain that there will be people very loudly blaming Brexit.

Remember, people blamed Gordon Brown for the total and complete meltdown of the global financial system in 2007/2008. Quite impressive he had that power.