US rescue plan scuppered!
01 October 2008, 02:52 PM
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01 October 2008, 07:17 PM
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It is of no consequence how long ago that he flogged it, and I do not agree that it is nonsense to mention it.
Even if gold was at a low at the time, it has always been the most reliable type of investment for safety and it has always come back up in price as it has indeed done now. What on earth was the point of flogging it at the lowest possible price, and why did he have to do it-was the World Bank cpmplaining about his borrowing at the time so he needed a quick fix? Surely the reserves are there for emergency use for times such as these-not to make money with, or to lose it spectacularly as he did!
I thought these people were highly paid to be wise with our money anyway, especially with all the advisors that they employ at our expense!
No I would not have voted to flog it believe me!
Les
Even if gold was at a low at the time, it has always been the most reliable type of investment for safety and it has always come back up in price as it has indeed done now. What on earth was the point of flogging it at the lowest possible price, and why did he have to do it-was the World Bank cpmplaining about his borrowing at the time so he needed a quick fix? Surely the reserves are there for emergency use for times such as these-not to make money with, or to lose it spectacularly as he did!
I thought these people were highly paid to be wise with our money anyway, especially with all the advisors that they employ at our expense!
No I would not have voted to flog it believe me!
Les
03 October 2008, 04:12 PM
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03 October 2008, 04:55 PM
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Well I'm not defending it but the reasons were apparantly too make more money by buying foreign currency mainly dollars and yen with the proceeds of the gold auctions.
Clearly the plan failed as gold has rocketed in value and the dollar has tanked.
Incidently the treasury and the BoE didn't see eye to eye on this one either, with the former pushing this through against the advise of the latter
06 October 2008, 08:28 AM
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Why are all the stock markets still heading south?
Thought all the champagne would be out and all that.Seems to have made little difference.
In fact,just had a nose and 200 points down for the FTSE this morning.Down to about 4700
Thought all the champagne would be out and all that.Seems to have made little difference.
In fact,just had a nose and 200 points down for the FTSE this morning.Down to about 4700
Last edited by lozgti; 06 October 2008 at 08:30 AM.
06 October 2008, 08:38 AM
#39
In any case £700 billion will take months to have any effect on credit availability
06 October 2008, 10:02 AM
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Well I'm not defending it but the reasons were apparantly too make more money by buying foreign currency mainly dollars and yen with the proceeds of the gold auctions.
Clearly the plan failed as gold has rocketed in value and the dollar has tanked.
Incidently the treasury and the BoE didn't see eye to eye on this one either, with the former pushing this through against the advise of the latter
Clearly the plan failed as gold has rocketed in value and the dollar has tanked.
Incidently the treasury and the BoE didn't see eye to eye on this one either, with the former pushing this through against the advise of the latter
Les
06 October 2008, 02:47 PM
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Capitalism at work. When it goes well those at the top get rich, when it goes badly those at the top stay rich as those at the bottom pay the price. Socialism helps to change this balance but as seen in Russia unregulated capitalism leads to bigger inequalities as those in the know get more and more powerful and start to control the media which in the end controls us. The markets are never truely free becuase those in the know have no vested interest in sharing information with the hoi palloi at hte bottom.
06 October 2008, 03:22 PM
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No one (apart from me
) is posting much in this thread and yet the market is going nuts.
Even the DOW is now into the 9,ooo's.
What the heck is the missing link with all these banks that no one is telling us?
) is posting much in this thread and yet the market is going nuts.Even the DOW is now into the 9,ooo's.
What the heck is the missing link with all these banks that no one is telling us?
06 October 2008, 04:12 PM
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Every single market in the world is now way down.
The Russian market is down almost 20% today.
As much as I don't like to say it, we really are in the deepest $hit ever, and it's going to take a long, long time to clean ourselves up!
06 October 2008, 05:27 PM
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The $700 billion will not avert the crisis, the bad times have not even started yet. The financial recession needs to spill over into a general economical recession, then we'll know what pain is.
Personally, I think it represents a fantastic once in a lifetime buying opportunity for those who have been careful with their money.
Unless of course we have complete financial meltdown, leading to the fall of governments, fiat currency and civilisation as we know it
Personally, I think it represents a fantastic once in a lifetime buying opportunity for those who have been careful with their money.
Unless of course we have complete financial meltdown, leading to the fall of governments, fiat currency and civilisation as we know it
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