Saturday, November 15, 2008

All my life, I've been in love with its colour, its brilliance, its divine heaviness...

There is much talk of the virtues of putting one's savings, if one is blessed with any savings, into gold at the moment

Given that leaders of the 20 richest (sic.) economies in the world are meeting in Washington today to discuss just how much more money they're going to print, this is perfectly understandable

One of the big problems with gold however (aside from the fact that its supply is controlled by the same bastards who are responsible for the current economic crisis) is that, here in the UK anyway, the retail gold business and its practitioners have a somewhat, um, sleazy image

On many internet financial forums, people who talk about gold and gold dealers are treated by other forum members in more or less the same way as if they'd admitted to a taste for visiting specialty prostitutes

Well, the specialty prostitutes have started going door to door

I just pulled this out of my Mum's letterbox...




Apparently, now that gold is fetching a 'record breaking price' a local jeweller is altruistically soliciting to take that crappy old gold off people's hands in exchange for wads of valuable cash




The 'top prices paid' are considerable...




...topping out at a breathtaking £250 /oz for 22ct gold*


"Do you expect me to talk Goldfinger?"
"No Mr Bond, I expect you to sell at £250 an ounce
"


I'd recommend getting in touch with these guys and selling your granny's wedding ring tout suite, before the gold price crumples and people are queuing in their thousands trying to offload wheelbarrows full of their increasingly worthless bullion in exchange for valuable, high-interest bearing British pounds which people are clamouring to get their hands on all over the world


Though, unfortunately, by some inexplicable oversight, I've scrubbed the contact details off the flier





*NB UK Dealers are currently selling 1.09oz 22ct Krugerrands at £550-600 plus, if and when they have any stock - which isn't very often


(Personally, I would have thought that if someone had five hundred quid to spare and believed that things really could get that bad they'd arguably be better off buying a few sacks of rice or something)

.

54 comments:

Anonymous said...

I have very little of anything at the moment, I guess I'm screwed then? :p

Stef said...

I think what you mean to say is that you're unencumbered by any attachments to a flawed, inequitable and ultimately doomed system

Scrounge a packed lunch and pick out a nice spot to sit down and watch it burn

There's an evens chance it won't be a long wait

Anonymous said...

No, but the person I'm renting from does.

I also was stupid enough to take out a student loan and end up with qualifications that were useless in the field I have experience in.

I see we both share the same optimism ;)

Stef said...

...if you've ever been involved in any kind of doomed project or venture there comes a time, towards the end, when those involved in that project scramble around with increasing desperation, pinning their faith on the most pathetic, unworkable 'solutions' to their predicament

until, eventually, someone - usually from the outside - tells them that everything's all over and starts packing up everything that's left for quick disposal

usually, by this stage, the losers are so exhausted and strung out they're almost grateful for the coup de grace

there's a very strong whiff of this about the world of finance these days

though the specific identity of who, or what, exactly is going to play the part of the liquidator eludes me

Anonymous said...

I suspect whoever owns\runs the BoE (so that'll be Queen Vic and the Rothschilds). Perhaps there'll be a new Tory government to put the common folk back to sleep for a bit.

Stef said...

No, but the person I'm renting from does

The future prospects for amateur landlords/ buy to letters right now are, um, poor

Nearly a million buy-to-let properties are standing empty

I suspect very few tears will be shed

Anonymous said...

He lives in here as well, I get the spare bedroom. Fun I know...

Stef said...

some of us have moved back in with their Mum

Stef said...

/ whistles nonchalantly

Stef said...

/ waits for bathroom to be free

Stef said...

/ really is waiting for bathroom to be vacant

Stef said...

/ getting quite desperate now

Anonymous said...

Maybe pitching a tent isn't such a bad idea, this "landlord" isn't the nicest guy to be living with..

Campsite fees tend to be a lot less than rent and it may persuade a charity to help me out, who knows.

Stef said...

Moving in with your Mum at the peak of the financial bubble was, of course, a financially smart play to make

but just a teensy, weensy bit sad also

Anonymous said...

Some people don't have that luxury, as I'm sure you're aware stef :)

Stef said...

Campsite fees tend to be a lot less than rent and it may persuade a charity to help me out, who knows.

with just under a million, or more, properties in the UK sitting empty

what a fucked up excuse for a world we've allowed to be made

Stef said...

Some people don't have that luxury, as I'm sure you're aware stef :)

yup

Anonymous said...

with just under a million, or more, properties in the UK sitting empty

what a fucked up excuse for a world we've allowed to be made


Most landlords wouldn't let to local authorites or unemployed people anyway. But I suspect most are actually owned by speculators that contributed to the bubble.

n said...

Iran switches reserves to gold
Tags:

http://www.guardian.co.uk/business/feedarticle/8025778
Iran has converted financial reserves into gold to avoid future problems, an adviser to President Mahmoud Ahmadinejad said in comments published on Saturday, after the price of oil fell more than 60 percent from a peak in July.

Stef said...

I should also point out that crossbows4u.co.uk offer a fantastic selection of crossbows, most of which cost a fraction of the price of a single measly Krugerrand

Not only could you use your crossbow to hunt for food in the post-apocalyptic wasteland, you could also hunt down anyone who was unwise enough to invest in gold but no supporting firepower

"Give a man a gold coin and you give him a meal. Give a man* some offensive ordnance and he can feed himself for the rest of his life"

The Antagonist said...

Stef said...

The future prospects for amateur landlords/ buy to letters right now are, um, poor

Nearly a million buy-to-let properties are standing empty


Surely some mistake?! I distinctly heard someone on Question Time this week claim, as plenty of others have also done, that there is categorically a very, very, very serious shortage of homes.

Maybe the Darling budget will make everything OK, just like it never was before.

Stef said...

Surely some mistake?! I distinctly heard someone on Question Time this week claim, as plenty of others have also done, that there is categorically a very, very, very serious shortage of homes.

I think that's what is technically known as a lie

Stef said...

... brought to you by the same people who maintain that our current, speculator and manipulator dominated, financial system is an efficient way of allocating scarce capital

The Antagonist said...

Only just today a professorial commentator on the World Service said this has all come about because "nobody knew what they were doing."

Which, of course, is blatantly obvious when you think about it and, more importantly, the only possible explanation for any of it.

I think that's what is technically known as a lie

Look, I know these people are pretty devious but I can't believe for a moment that any of them would actually and deliberately lie to us, nor that the State broadcasting corporation would facilitate their lying to us. No, no, no!

Really, whatever next?

Anonymous said...

Nice sarcasm :)

paul said...

until, eventually, someone - usually from the outside - tells them that everything's all over

As I am seeing fuck all change apart from the invitation for the working class to walk the plank, I think we are some way from this point.

The instigators of the project can always blame poor implementation by the drones, take their pay off, and 'move on' to more of the same.

And, in these pessimistic times, we must remember what a fantastic success the neo liberal project has been for the instigators. Control and wealth has been the rewards for their efforts.

That's my main problem with nutshell arguments like Black Swans. The side effects just don't matter, its just a little confusion about the intended outcomes.

As a wise man once said:

I had a guaranteed
military sale with ED209.

Renovation program.

Spare parts for years.

Who cares if it worked or not?

paul said...

Surely some mistake?! I distinctly heard someone on Question Time this week claim, as plenty of others have also done, that there is categorically a very, very, very serious shortage of homes.

The two are not mutually exclusive, pokey, identikit two bed 'luxury flats' do not make particularly good family homes (or investments).

Anonymous said...

Here come the helicopters!
http://www.telegraph.co.uk/news/newstopics/politics/labour/3465177/Gordon-Brown-prepares-to-unveil-tax-cuts-for-Christmas.html

Gordon Brown prepares to unveil tax cuts* for Christmas

The total "stimulus" to Britain's beleaguered economy could be more than the £15 billion initially expected, which works out at £500 for every family in the country.


Now go out and spend spend spend on shit you don't need!!

*not a tax cut of course, more a compulsory loan taken out on your behalf which you will have to pay back at interest.

not anonymous said...

another great British success.

http://uk.finance.yahoo.com/q/bc?s=TW.L&t=my

not anonymous said...

things are getting nuttier and nuttier.

things are getting nuttier and nuttier and the crazy quality of modernity and other esoteric wonderments.

paul said...

Silver Linings

Quite awesome when you look at it

not anonymous said...

Here is a very good video.


If you have a spare hour watch it.
Much violence and an eerie precursor of the future
Occupation101.

Israel Palestine.

Occupation101

not anonymous said...

Max Keiser - Aljazeera English News - 16 November.

Hank Paulsons head should be bouncing down the steps of the capital.

Max Keiser most definitely on form.

A fatwa should be issued on Hank Paulson!!sezs Max.

paul said...

Strange language, fatwa, beheading...he was obviously pleased with that schtick and felt the need to say it three times.
Bit odd.

paul said...

some of us never left our Mum!

not anonymous said...

Blogger paul said...

Strange language, fatwa, beheading..

maybe it was because it was on Al Jazeera!??,,lets remember that in the Arab world the severing of limbs is a common form of punishment.

Maybe Max felt that Hank Paulsons crimes are so heinous that he would indeed be beheaded were he found guilty of such high crimes and misdemeanors in the Arab world.

Stealing can cost you hand in Sudan for example,,,even some vegetable so it´s only reasonable that if you stole billions you would or should be beheaded in the Arab world.

Karl said...

Occupation 101 was a great video, thanks for that. Unbelievable how America gives the same in aid to africa and all the third world countries combined just to Israel. Averages at $10k per person compared to just $59 per person in Africa. Palistinians have to live under the most appaling conditions becasue Israel makes life as hard as humanley possible. The news and media has been manipulated yet again so the rest of the world can sleep easy at night in total ignorance.

anon 22:41 said...

Screw gold, anyone with a suitcase full of drugs will get through any crisis. And the worse the crisis the better the business.

Who owns the opium trail right now?
And where are all those narcodollars gone?

Should I get my nan a bag of horse for christmas with my tax cut money?

paul said...

maybe it was because it was on Al Jazeera!??

Well it was on the english version of AJ, which is designed to give an alternative perspective on world politics (which to a certain degree it does very well)to western audiences.
So alluding to the more lurid aspects of some islamic countries, which are rather heavily plasyed on by western media, seems rather negative to me.

Anonymous said...

paul said...

maybe it was because it was on Al Jazeera!??

So alluding to the more lurid aspects of some islamic countries, which are rather heavily plasyed on by western media, seems rather negative to me.

Oh I don´t know,,,part of Max Keisers appeal is his no holds barred statements,,,I suppose however that the word fatwa is maybe inappropriate!,,all the same I think America would ba all the better if say Blair's Bush's Cheneys Powell Sleaz Rice, Guilianis heads were all ro

Tom said...

That which is Keiser's, render ye unto Keiser. That which is gold, melt ye down and form into a new Tower of Eiffel, with which to praise Max.

Stef said...

part of Max Keisers appeal is his no holds barred statements

one or two holds barred in the last 60 seconds of this recent Max K appearance

'Fatwa' was an interesting choice of words. 'Crusade' would have worked for me

Anonymous said...

who owns Al Jazeera??could it be run by you know who??great way to push propaganda to the Arabs and Muslims of the world

paul said...

I don't know, I thought it was the emir of qatar, but please enlighten me

Anonymous said...

Al Jazeera for next Newcastle manager I say.

Anonymous said...

the BBC runs al Jazeera fer fucks sake,,,obvious guv.

not anonymous said...

another good interview.I had a good laugh at around,,,at 2.53(the guy eats his tie again,,Russia does have a great sense of humor).

http://www.youtube.com/user/RussiaToday

this is a must watch video,,,a conspiraloon dream interview.Things (from a conspiraloon perspective) get very interesting at 10.00 "we are a worthless civilization waiting to be destroyed"

Anonymous said...

After reading Paul's Silver lining link, especially part about: "The proposed bank "bailout" under the so-called Troubled Asset Relief Program (TARP) is not a "solution" to the crisis but the "cause" of further collapse."
I came across this:
Taiwan hands out shopping vouchers to boost economy
Is that not better than what the US an UK government's have done? Government by the people for the people and all that.

not anonymous said...

Ron Paul and Ben Bernanke talk about Gold and a new reserve currency.

http://www.youtube.com/watch?v=dECy9RCS2L8


Ron Paul and Ben Bernanke talk about Gold and a new reserve currency.

not anonymous said...

seems to me Bernanke replys were ehh a little bit unsure and dis honest.

not anonymous said...

the link I provided was wrong here is the correct





this is a must watch video,,,a conspiraloon dream interview.Things (from a conspiraloon perspective) get very interesting at 10.00 "we are a worthless civilization waiting to be destroyed"

19 November 2008 08:16

Karl said...

Totally off topic, but the work Helen Caldicott does is great. This is on for an hour but is a great speech.

http://uk.youtube.com/watch?v=IOZ4G7080Jc&NR=1

not anonymous said...

keep yer eye on Berkshire!

http://finance.yahoo.com/q?s=brka

not anonymous said...

ge also in the shit

http://finance.yahoo.com/echarts?s=GE#chart1:symbol=ge;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined