Gold Monitoring Thread £ GBP only

[CaptCaveMan]

I suspect knee jerk reaction to bank runs/closures in the US.

[MrStacker]

Yes heard about a silicon valley bank that supports lots of start ups going under or nearly going under which is triggering a knock on effect around other US banks. Domino effect will happen this year I think. Japan doesn't look good neither.

Edited March 10, 2023 by MrStacker

[Midasfrog]

4 hours ago, James32 said:

That's it, I'm away to tell the neighbours I made it for real this time.

Don't forget the buying dip that's coming in April and from then on it's to the moon 😆

Managed to pick a tube of sovereigns up today at last Septembers price ......" Don't tell um Pike "

[jultorsk]

https://www.bloomberg.com/news/articles/2023-03-10/silicon-valley-bank-the-investor-lender-networker-of-startups?leadSource=uverify wall

What was Silicon Valley Bank to the world of startups and venture capital? Practically everything. 

Conceived over a poker game between two of its founders nearly 40 years ago, the firm grew into the single most critical financial institution for the nascent tech scene, serving half of all venture-backed companies in the US and 44% of the venture-backed technology and health-care companies that went public last year. And its offerings were vast — ranging from standard checking accounts, to VC investment, to loans, to currency risk management. 

🤔

[katyc]

10 minutes ago, jultorsk said:

https://www.bloomberg.com/news/articles/2023-03-10/silicon-valley-bank-the-investor-lender-networker-of-startups?leadSource=uverify wall

What was Silicon Valley Bank to the world of startups and venture capital? Practically everything. 

Conceived over a poker game between two of its founders nearly 40 years ago, the firm grew into the single most critical financial institution for the nascent tech scene, serving half of all venture-backed companies in the US and 44% of the venture-backed technology and health-care companies that went public last year. And its offerings were vast — ranging from standard checking accounts, to VC investment, to loans, to currency risk management. 

🤔

Woah.... this really could be the start of the domino effect then 😳

(TO DA MOOOOOOOON!)

[katyc]

.....But the governments can bail out who they decide they want to bail out.....

Maybe they'll bail them (the tax payers have to pay for it) and its all brushed under the carpet 🙄

(Kick the can down the road and make it worse long term if that happens though)

[QuantumStacker]

10 minutes ago, katyc said:

.....But the governments can bail out who they decide they want to bail out.....

Maybe they'll bail them (the tax payers have to pay for it) and its all brushed under the carpet 🙄

(Kick the can down the road and make it worse long term if that happens though)

It's the bank bail ins you want to avoid, like in 2013 what they beta tested in Cyprus. get money out of banks. I might be wrong but I think this is bad and you can always put your funds back in the bank! Metals and Cash is where I am, you don't hold it you don't own it. 😎

[katyc]

Fox News Premier right now on YouTube.... Silicone Valley collapse.

One of the first things they said "could it be time to buy gold"

Finally gold going mainstream. 

Is it starting.....

IS IT??!

(Also, CEOs of the bank sold their shares a few weeks ago)

🤔🤔🤔🤔🤔

Edited March 11, 2023 by katyc

[QuantumStacker]

4 minutes ago, katyc said:

Fox News Premier right now on YouTube....

One of the first things they said "could it be time to buy gold"

Finally gold going mainstream. 

Is it starting.....

IS IT??!

(Also, CEOs of the bank sold their shares a few weeks ago)

🤔🤔🤔🤔🤔

I think it could be. Record central bank buying gold. Singapore lifted their gold holdings by 30% in one month. Central banks are not buying record amounts for no reason. I could be wrong. 

[QuantumStacker]

https://apple.news/AzMkJ_oJlT7aKINu_rTlGNg

[SidS]

8 hours ago, Roy said:

Other notable events of 1690, James2 attempts to regain the throne:

James worked to build an army in Ireland, but was ultimately defeated at the Battle of the Boyne on 1 July 1690 when William arrived, personally leading an army to defeat James and reassert English control. James fled to France once more, departing from Kinsale, never to return to any of his former kingdoms. Because he deserted his Irish supporters, James became known in Ireland as Séamus an Chaca or "James the terrible".*

🤣 😇

* forum censored 😋

I was about to ask if William III had led the mission to the moon. Maybe Louis XIV bet him to it. But old Louis would probably had gone on a solar expedition instead.

[Roy]

1 hour ago, SidS said:

But old Louis would probably had gone on a solar expedition instead.

Indeed, after all he was convinced that the world revolved around him.

Edited March 11, 2023 by Roy

[Bars]

China just brokered a peace deal with iran and saudi. 

[Bigmarc]

4 minutes ago, Bars said:

China just brokered a peace deal with iran and saudi. 

China deal and us bank goes under and Gary liniker is the first three articles on the BBC news.

[QuantumStacker]

42 minutes ago, Bars said:

China just brokered a peace deal with iran and saudi. 

I don’t think people realise how serious this is. 

[MancunianStacker]

58 minutes ago, Bigmarc said:

China deal and us bank goes under and Gary liniker is the first three articles on the BBC news.

China, Iran and the Saudis is interesting as is the US bank but the majority don’t see this as affecting their everyday life. 

The every day British person (whether born here or legally entering and getting Naturalised and a Passport after paying £7,500 in Visas and doing the process right) doesn’t want to hear Lin going on about Britain being compared to Nazi era Germany. 

The every day Brit is worried about where their kids will live one day and why they can’t buy a house or even get a hotel room in another town.

We need immigration and I agree with it, after all the old age pension is a Ponzi scheme and we need fresh meat at the bottom of the pyramid. I’m not a balding, middle aged racist but I am bald and middle aged.

My wife is a non European immigrant and is enraged 😡 with it all and can’t believe what a soft touch the UK is. She was asking what is wrong with France and every other country and I had to explain that English is most countries 2nd language including hers, so where would she want to go if she had to risk her life? 🇬🇧 of course! USA is too far away and Australia 😂 (that’s my retirement destination - maybe if they’d take me 😂). I don’t blame people wanting to leave these countries but don’t use safety as a cover.

The lefties have a lovely rose tinted outlook on life but when reality kicks in (and the Celebrity lefties and ex-footballers with Millions in their bank and houses in 5 countries can just up sticks and leave 🇬🇧 with 24 hours notice), they might have wished they thought about it first 🤔 Most Brits will have to live here until death, it’s going to become a hell hole within 20 years. Try doubling the UK population in 20 years. It will happen unless they get a lid on illegal entry. 🤦‍♂️ We are an island nation!

Where do we put unlimited immigrants? Who feeds them? Who wants their tax to go up to pay for it? How do we create enough jobs to stop us being taxed more? Who thinks we are a horrible racist country after helping Hong Kongers and Ukrainians (legally) plus many others?

I think Rishi Sunak will make this the main political point over the next 2 years to win over Labour. I’m expecting lots of news about immigration murders and the Terrorism will be coming back but worse than before. Remember the Manchester Arena 💣 wait until something like this hits London and the voters get scared! Labour has no answer for immigration, just say they’d be better at dealing with it 😂 How???

Rant over.

PS - not ranting at you @BigMac at all. Just got me thinking about the MSM and why this Lin story got so much attention. If it’s in the news it will help a Govt hard on illegal immigration look better to most voters than a soft Leftie govt. Maybe I’m wrong 🤷‍♂️ 

[Bigmarc]

8 minutes ago, MancunianStacker said:

China, Iran and the Saudis is interesting as is the US bank but the majority don’t see this as affecting their everyday life. 

The every day British person (whether born here or legally entering and getting Naturalised and a Passport after paying £7,500 in Visas and doing the process right) doesn’t want to hear Lin going on about Britain being compared to Nazi era Germany. 

The every day Brit is worried about where their kids will live one day and why they can’t buy a house or even get a hotel room in another town.

We need immigration and I agree with it, after all the old age pension is a Ponzi scheme and we need fresh meat at the bottom of the pyramid. I’m not a balding, middle aged racist but I am bald and middle aged.

My wife is a non European immigrant and is enraged 😡 with it all and can’t believe what a soft touch the UK is. She was asking what is wrong with France and every other country and I had to explain that English is most countries 2nd language including hers, so where would she want to go if she had to risk her life? 🇬🇧 of course! USA is too far away and Australia 😂 (that’s my retirement destination - maybe if they’d take me 😂). I don’t blame people wanting to leave these countries but don’t use safety as a cover.

The lefties have a lovely rose tinted outlook on life but when reality kicks in (and the Celebrity lefties and ex-footballers with Millions in their bank and houses in 5 countries can just up sticks and leave 🇬🇧 with 24 hours notice), they might have wished they thought about it first 🤔 Most Brits will have to live here until death, it’s going to become a hell hole within 20 years. Try doubling the UK population in 20 years. It will happen unless they get a lid on illegal entry. 🤦‍♂️ We are an island nation!

Where do we put unlimited immigrants? Who feeds them? Who wants their tax to go up to pay for it? How do we create enough jobs to stop us being taxed more? Who thinks we are a horrible racist country after helping Hong Kongers and Ukrainians (legally) plus many others?

I think Rishi Sunak will make this the main political point over the next 2 years to win over Labour. I’m expecting lots of news about immigration murders and the Terrorism will be coming back but worse than before. Remember the Manchester Arena 💣 wait until something like this hits London and the voters get scared! Labour has no answer for immigration, just say they’d be better at dealing with it 😂 How???

Rant over.

PS - not ranting at you @BigMac at all. Just got me thinking about the MSM and why this Lin story got so much attention. If it’s in the news it will help a Govt hard on illegal immigration look better to most voters than a soft Leftie govt. Maybe I’m wrong 🤷‍♂️ 

I don't mind a rant. It's exactly what the news articles are designed to do. Forget what's going on over there and let's talk about this guy that presents the football and sells crisps. 

[MancunianStacker]

2 minutes ago, Bigmarc said:

I don't mind a rant. It's exactly what the news articles are designed to do. Forget what's going on over there and let's talk about this guy that presents the football and sells crisps. 

Agreed it’s this weeks distraction but now I’m distracted 😂 

How do we set up a voting post on the Forum? Just wondering how many agree with Lin’s comments and how many disagree. This forum probably has more intelligent people onboard than average, so might not be a good gauge anyway.

Honestly the way the MSM says people should think makes me wonder if people are falling for i”the Leftie argument or actually have a brain 🧠 

Let’s use Lin’s millions to house and feed more people eh???

Rant over now, honestly! No more ranting 😬 

[ArgentSmith]

Milton Friedman was right, open borders are incompatible with a Welfare State. Given the choice I would dismantle the Welfare State.

[MancunianStacker]

Sorry back to estate agents!

Oh and as a Mortgage Adviser, there is no way property prices will collapse. It slowed Sept - Feb but now I’m back to being very busy again!

When supply exceeds demand prices go up. Expect prices to double in next 25 years. No joke!

If you can buy a house for your children now, consider it.

[Bigmarc]

5 minutes ago, MancunianStacker said:

Agreed it’s this weeks distraction but now I’m distracted 😂 

How do we set up a voting post on the Forum? Just wondering how many agree with Lin’s comments and how many disagree. This forum probably has more intelligent people onboard than average, so might not be a good gauge anyway.

Honestly the way the MSM says people should think makes me wonder if people are falling for i”the Leftie argument or actually have a brain 🧠 

Let’s use Lin’s millions to house and feed more people eh???

Rant over now, honestly! No more ranting 😬 

I think it's on a separate page when you set up a new thread, don't forget to put don't care option. 

Sorry all, back to gold 

[SidS]

21 minutes ago, MancunianStacker said:

Where do we put unlimited immigrants? Who feeds them? Who wants their tax to go up to pay for it? 

I wouldn't mind so much if we were importing tax payers. That would be fine. My fear is though that many of those imported (lost papers on a dinghy) are not going to volunteer to pay their share of tax. It's the already existing tax payers who'll be paying not only to prop up a Ponzi pension system, as well as the NHS but also funding these immigrants too.

It's just not a fair system to those who play by the rules, dot all the i's and cross all the t's - we get shafted as usual. This injustice is what's starting to make people angry.

[MancunianStacker]

I’m sticking with Gold and Property.

Minimise cash in bank and stocks.

All in physicals.

Back to Gold!! sorry all 

[Dom]

48 minutes ago, MancunianStacker said:

When supply exceeds demand prices go up. Expect prices to double in next 25 years. No joke!

If you can buy a house for your children now, consider it.

Won't there be a mean reversion though? Surely we are due a correction, especially when you consider affordability ie interest rates rising and cost of living? House prices are ultimately determined by how much the buyer can borrow so if interest rates revert to the mean of 7-10% that will surely reduce house prices? 

[MancunianStacker]

46 minutes ago, Dom said:

Won't there be a mean reversion though? Surely we are due a correction, especially when you consider affordability ie interest rates rising and cost of living? House prices are ultimately determined by how much the buyer can borrow so if interest rates revert to the mean of 7-10% that will surely reduce house prices? 

On larger properties yes, a correction - some will downsize, but on smaller ones, the 2 bed terraces and apartments/flats no. These are your first step properties usually owned by landlords. Landlords sick of the legislation and tax issues, so selling them leaving tenants with credit issues unable to rent as most require a credit check. Rental yields gone up more now, landlords are re-entering who didn’t leave or new landlords entering the market. Tons of Hong Kongers buying multiple properties with cash (smart move). 

MSM is telling people there will be a correction / crash but it’s only a crash if you are planning on flipping your house for a quick profit. If you need somewhere to live for 25 years plus, it’s still cheaper to buy than rent. They want generation rent and will put you off buying at all costs.

Give me any property address (outside London at least), certainly in the North West, a couple with average incomes and a 5% deposit and I’d find them a mortgage.

They’ve been predicting a crash for 5 years and without wanting to sound like “Wonga” (old forum member) on Gold Price - no chance of a property crash and you’ll double your house price in 25 years! Guaranteed!!!!

Rates will go up another 0.5% (maybe on 23rd of March) but will be back down lower than today within 2 years, it might just stay this high for another year. People could wait to buy for 2 years but the prices I expect will still be higher than today.

Mortgage product rates have dropped significantly, it’s people’s credit history and lack of knowledge in this area that is preventing them from buying. I have one client in overdraft on 3 current accounts wondering why he’s getting rejected.