Credit deflation and the reflation cycle to come (part 2)

[AWW]

Paper gold price action doesn't reflect availability of physical. I just got this email from Atkinsons:

[Don Coglione]

44 minutes ago, AWW said:

Paper gold price action doesn't reflect availability of physical. I just got this email from Atkinsons:

Given the level of illiteracy in that email, I would be checking my gold very carefully, when it finally arrives!

[AWW]

Fingers crossed they send me 2,021 coins.

[Sasquatch]

Did you buy them from www.atkinsons.ng?

If yes, expect to receive them in person from a handsome prince riding a camel...

 

[Barnsey]

Fully endorsed by the IMF of course...

How on earth is Sunak going to preach reigning things in when our closest partner will be doing quite the opposite?

Side note, you'll be glad to hear that I'll stop banging on about housing now as had an offer accepted in glorious.......Telford. Bang for buck, got everything we need without the stress of buying into a bubble, good manufacturing/defence/agritech area so should do ok hopefully.

[Yadda yadda yadda]

1 hour ago, Knickerless Turgid said:

Given the level of illiteracy in that email, I would be checking my gold very carefully, when it finally arrives!

They will be Brittanyias from northern France.

[DurhamBorn]

2 hours ago, janch said:

This was covered by Shaun Richards today and does seem to be significant.  I'm not sure about the implications and would welcome some thoughts from @DurhamBorn.  Is it a big deal in the scheme of things and has it been factored into the roadmap?

https://notayesmanseconomics.wordpress.com/

They are sending out the message to the market to invest in real assets.They cant hold down rates forever and will be hoping they can get a recovery and inflation that stays below 3% but over 2% for a while,

[Errol]

3 hours ago, AWW said:

Paper gold price action doesn't reflect availability of physical. I just got this email from Atkinsons:

Coininvest and BullionbyPost are also both reporting delays due to demand (and have been for several weeks now).

[Democorruptcy]

1 hour ago, Barnsey said:

Fully endorsed by the IMF of course...

How on earth is Sunak going to preach reigning things in when our closest partner will be doing quite the opposite?

Side note, you'll be glad to hear that I'll stop banging on about housing now as had an offer accepted in glorious.......Telford. Bang for buck, got everything we need without the stress of buying into a bubble, good manufacturing/defence/agritech area so should do ok hopefully.

Funnily enough I had a look at Staffordshire on RM today, didn't see anything tempting. Then wondered how you were getting on. Good luck with the purchase.

[Green Devil]

2 hours ago, Barnsey said:

Fully endorsed by the IMF of course...

How on earth is Sunak going to preach reigning things in when our closest partner will be doing quite the opposite?

Side note, you'll be glad to hear that I'll stop banging on about housing now as had an offer accepted in glorious.......Telford. Bang for buck, got everything we need without the stress of buying into a bubble, good manufacturing/defence/agritech area so should do ok hopefully.

Youre having a larf arent you?

Theres no chance of any reign of printing and spending.

[Hunty]

On 15/01/2021 at 15:01, AWW said:

Petrofac ☹️

Short's are kicking it's ass.

A nice entry point. No SDRT payable.

Registered in Jersey.

RYE won’t be able to suppress the SP to cover, so we have had 3 days of double/triple buys to sells volumes . Once most of the weak hands/impatient traders sell, they'll then see a decent recovery.

Petrofac is heavily oversold on the technical chart, so many traders are waiting for the turning point to hold positions here.

[Democorruptcy]

10 minutes ago, Green Devil said:

Youre having a larf arent you?

Theres no chance of any reign of printing and spending.

Yellen is obviously having a laugh "spend while interest rates are low and worry about deficits later". It's like she expects people to believe "Aren't we lucky interest rates are low, let's fill our boots at this gift from heaven". Not that it's CB policy that has driven yields so low.

[Noallegiance]

56 minutes ago, Errol said:

Coininvest and BullionbyPost are also both reporting delays due to demand (and have been for several weeks now).

A private and public shortage of a desirable tangible asset?

Best the derivative price drift downward for 6 months!

[Barnsey]

1 hour ago, Democorruptcy said:

Funnily enough I had a look at Staffordshire on RM today, didn't see anything tempting. Then wondered how you were getting on. Good luck with the purchase.

Thanks Demo and everyone else, fixed mortgage (portable) for 15 years at 2.59% 

[reformed nice guy]

1 hour ago, Errol said:

Coininvest and BullionbyPost are also both reporting delays due to demand (and have been for several weeks now).

i ordered silver from silver to go in Germany. They had a delay before it was sent out and it took 20 days in all to arrive, of which only a few days was with the courier

[Democorruptcy]

3 minutes ago, Barnsey said:

Thanks Demo and everyone else, fixed mortgage (portable) for 15 years at 2.59% 

Borrow more than you need, buy shares with the surplus, 5% divi to make the payments?

[sancho panza]

last time Brent was this price pre covid..

this chart echoes my experience,EQNR running away from the pack,even our highest ladder is in the moeny.

 

[TMM]

55 minutes ago, Barnsey said:

Thanks Demo and everyone else, fixed mortgage (portable) for 15 years at 2.59% 

Or perhaps go for a 30 year fix, with the early redemption charge applicable for the first five years, with a fixed rate of between 3 percent and 3.5 percent?

https://www.mortgagesolutions.co.uk/news/2021/01/19/perenna-raises-7m-to-bring-danish-style-mortgages-to-uk/

Quote

Perenna will base its products on the Danish mortgage model and issue 30-year fixed rate deals that allow borrowers to port their mortgage and be entitled to early repayment charges that cover the first five years. 

 

[Hancock]

Here is a good deflationary article
https://www.telegraph.co.uk/property/buy/falling-house-prices-forced-sales-fears-five-reasons-property/

[Gin]

5 hours ago, Knickerless Turgid said:

Given the level of illiteracy in that email, I would be checking my gold very carefully, when it finally arrives!

Now you are being racist..

[Bobthebuilder]

Read something today about self-employed needing 40% equity for a new mortgage. I know plenty that cant do that.

[ThoughtCriminal]

As we're having a bit of a HPC moment tonight I just had to post this as an illustration of how fucked we are when it comes to house prices here. 

 

https://european-property.com/property/4-bed-house-for-sale-in-mellansel--sweden-37761

 

4 bed house in a village in Northern Sweden (FUCKING SWEDEN!), huge gardens, parking for 6 cars, sauna. 

 

95k. And he's open to offers. 😳

 

I'm in North Yorkshire and that would be 400K here all day long. 

 

This fucking country............. 🤦‍♂️

 

Anyway, got that off my chest.

 

Apologies.

 

Thread derailment over. 

 

[Castlevania]

20 minutes ago, ThoughtCriminal said:

As we're having a bit of a HPC moment tonight I just had to post this as an illustration of how fucked we are when it comes to house prices here. 

 

https://european-property.com/property/4-bed-house-for-sale-in-mellansel--sweden-37761

 

4 bed house in a village in Northern Sweden (FUCKING SWEDEN!), huge gardens, parking for 6 cars, sauna. 

 

95k. And he's open to offers. 😳

 

I'm in North Yorkshire and that would be 400K here all day long. 

 

This fucking country............. 🤦‍♂️

 

Anyway, got that off my chest.

 

Apologies.

 

Thread derailment over. 

 

Similar latitude to Reykjavik

[DurhamBorn]

1 hour ago, Democorruptcy said:

Borrow more than you need, buy shares with the surplus, 5% divi to make the payments?

£30k in BAT to pay a £100k mortgage.I wouldnt usually advise such things,but something like that has to be tempting.

[ThoughtCriminal]

4 minutes ago, Castlevania said:

Similar latitude to Reykjavik

I've been to Northern Sweden, it's stunning. 

 

That house or 3 bed ex council semi in sunny middlesbrough. It's a tough one.