Reply to: Don't mention the "RUN" word

[PAH]

Wouldn't be the first time gold has been nationalised, basically stolen from its rightful owners by decree

Watched Goldfinger yesterday ("I'm Pussy Galore", "I must be dreaming" Though it was a bit much killing both of the Masterson sisters, such a waste of talent ) and wondered if this was subliminal, telling you to get into gold while you can.

[NotAllThere]

I think I might pop out at lunchtime and buy a few hundred grams of gold.

[Doggy Styles]

I thought I would give this a quick bump. I presume it is now hold on to your hats time:

Mail - Britain draws up emergency plans for collapse of Euro after warnings Italy needs £500bn bailout

Telegraph - Markets pricing in endgame for the euro, warns UBS

"Wolfgang Schauble, the German finance minister, said yesterday he was confident that the euro would be saved – and go on to become the most stable currency in the world. "

Phew, so that's all right then.

[OwlHoot]

I thought I would give this a quick bump. I presume it is now hold on to your hats time:

Mail - Britain draws up emergency plans for collapse of Euro after warnings Italy needs £500bn bailout

Telegraph - Markets pricing in endgame for the euro, warns UBS

One comment on the second article is very likely true

There are going to be a lot of people with pieces of paper saying they own Gold getting very angry soon.

To paraphrase that guy in the Good the Bad and the Ugly, "There are two sorts of people. Those who own gold certificates, and those who dig holes at the bottom of their garden. If you have any sense, you dig".


Wouldn't be the first time gold has been nationalised, basically stolen from its rightful owners by decree

[The_Equalizer]

I thought I would give this a quick bump. I presume it is now hold on to your hats time:

Mail - Britain draws up emergency plans for collapse of Euro after warnings Italy needs £500bn bailout

Telegraph - Markets pricing in endgame for the euro, warns UBS

[TimberWolf]

I'd been thinking about the 'R' word for the last few weeks. I opened a NS&I savings account with a nominal few quid in it on the basis of transferring cash savings there if things start to look a bit funny. Then again, if gets to the point where several banks fall over I think we will have serious problems no matter where cash is.

runny

[The_Equalizer]

I'd been thinking about the 'R' word for the last few weeks. I opened a NS&I savings account with a nominal few quid in it on the basis of transferring cash savings there if things start to look a bit funny. Then again, if gets to the point where several banks fall over I think we will have serious problems no matter where cash is.

[PAH]

Yeah, but found it so hard to escape its grips that it was regarded as an economic pariah until recent times, since when it's been regarded as saviour.

Seems like that's true of debt as a whole. Not that many years ago (particularly for the older generations) getting into debt on credit cards was seen as a fool's errand, and most normal people (i.e. those that have to go to work rather than choose to) saved up before buying new tat.

With the advent of 'cheap' credit most people now see it as an opportunity and a right to amass as much debt as they can get their hands on.

Those in power saw it as an opportunity to reduce living standards (to compete in the global arena) forcing many people to go into debt just to get by. e.g. a few decades ago a family could survive on just one wage, now you need both partners working just to afford the mortgage.

Lots of people sleepwalking through life by the looks of things. No wonder the term sheeple has been bandied about a lot in recent times.

[russell]

I posted about this a few days ago, looks like the BBC economists agree with me.

[TimberWolf]

Britain has used inflation to get out of trouble many a time.

Yeah, but found it so hard to escape its grips that it was regarded as an economic pariah until recent times, since when it's been regarded as saviour.

[sasguru]

Isn't printing robbery too? And hence why Merkel isn't keen on doing it. That and the fact* that no one has ever successfully printed themselves out of debt, as the UK and US are hell bent on doing.

*I've no idea if this is fact or not, in actual fact.

Britain has used inflation to get out of trouble many a time.

[TimberWolf]

Yep, everyone's f'd. Otherwise the yank dollar and pound would be fairing better against the euro.

So should we withdraw all our savings and keep them in the house instead? Just in time for crimbo and all the thieving scumbags looking for jewellery and presents to steal?

BofE can always print more money if a bank goes under. They won't do that if you get robbed. Ask any daft OAP who has been mugged for thousands after foolishly carrying it around with them while out shopping.

Unless any home contents insurance covers loss of large amounts of cash?

Isn't printing robbery too? And hence why Merkel isn't keen on doing it. That and the fact* that no one has ever successfully printed themselves out of debt, as the UK and US are hell bent on doing.

*I've no idea if this is fact or not, in actual fact.

[PAH]

That and that non-Euro currencies aren't in great shape either.

Yep, everyone's f'd. Otherwise the yank dollar and pound would be fairing better against the euro.

So should we withdraw all our savings and keep them in the house instead? Just in time for crimbo and all the thieving scumbags looking for jewellery and presents to steal?

BofE can always print more money if a bank goes under. They won't do that if you get robbed. Ask any daft OAP who has been mugged for thousands after foolishly carrying it around with them while out shopping.

Unless any home contents insurance covers loss of large amounts of cash?

[TimberWolf]

Classic misunderstanding of economics there.
The Euro is retaining its value because it's the default currency of Germany, for the moment.

That and that non-Euro currencies aren't in great shape either.

[sasguru]

Yeah, things are so bad that the value of the Euro is plummeting

Classic misunderstanding of economics there.
The Euro is retaining its value because it's the default currency of Germany, for the moment.