Credit deflation and the reflation cycle to come (part 3)

[Barnsey]

5 hours ago, Pip321 said:

Just had my request to increase my estimated costs for energy is £3174 and my DD has moved from £100 to £246 to new asking for £265. I think your average punter is going to have to shut up shop.....I for one will cut back on other things to make up for it just on principal. If I struggled financially I would be saving every penny I could today for fear of not being able to eat this winter..

Lots of numbers on the bottom for National Debt Line.....so that's nice. I see the standing charge has gone up too...well, in for a penny. 

Our local Co-op now charges £1.55 for milk (it was £1.10 with a two for one deal now gone). Yesterday I walked w minutes further to One Stop Shop to pick it up for £1.45 (we needed two so £2.90).....again on principal. No point considering the raise OTT and then not voting with your feet. I am sure my omission of milk today rocked them to the core, well maybe not but it made me feel better. 

I guess the whole problem of the benefit culture and state dependency (including pensions) is for those who don't earn their own money and rely on the state then the fact they can't eat becomes the governments problem  

 

On the flip side, B&M have loads of stuff on sale since their share price cratered, plenty of solar lights available! Bring them inside at night 

[Bricormortis]

RE...yeah but have you seen the state of some of the women ?.... OOPS did a post above on the wrong thread cant edit now.

[reformed nice guy]

1 hour ago, Lightly Toasted said:

I can see the courts being so clogged up that bills will effectively go unpaid. Then the government would need to choose:

1. streamline the bureaucratic process to enable disconnection (or maybe throttling, if that's even possible with gas?)
2. put up tariffs for everyone who is still paying (thus driving them into the non-paying segment)
3. let suppliers go bust due to being unable to collect customer payments, supply ultimately ends up in the hands of the state who will print enough gas to keep everyone warm.

 

If only they had been pushing for some sort of meter that would allow variable pricing.....

Can smart meters allowing throttling?

[Bobthebuilder]

17 minutes ago, reformed nice guy said:

Can smart meters allowing throttling?

If you mean restricting the flow of gas, then no they cannot.

Pre pay meters can shut off completely when you run out of credit, not sure about smart meters, but a gas meter has to be either open or closed.

[kibuc]

On 30/05/2022 at 08:49, Yadda yadda yadda said:

With community spirit at the forefront, chatting to your neighbours and fostering harmony, Pocket wants residents to be able to interact and get on with each other.

In Croydon? They will want stab vests before interacting with the neighbours.

Must be the posh part of Croydon.

[Democorruptcy]

CBDC mean politicians and voters are so yesterday, as if they aren't already!

Quote

 

The second attraction is cultural: a wholesale CBDC can be organised by a club of central bank technocrats without needing much debate with politicians, or voters.

This does not make it easy to create wholesale CBDCs on a large scale. Far from it. The technology hurdles remain daunting. Wholesale CBDCs may also require central banks to cede a little sovereignty since using distributed digital ledgers means they no longer control fiat currencies in the traditional manner. That requires mutual trust.

However, the central banking tribe that convenes around the Bank for International Settlements in Basel does generally trust each other — and more than their own domestic politicians. More than a dozen cross-border wholesale CBDC experiments have occurred, not just with the French and Singaporean central banks, but countries such as Switzerland, South Africa, Thailand, China and the United Arab Emirates.

https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2F3810bc35-b9da-47b2-93ad-2ec2899c869b

 

 

[Axeman123]

5 hours ago, M S E Refugee said:

Shit's gonna get real when the Moronic Populace realise the Government can do fuck all to help anybody.

Yes, but also no. I don't think the average muppet will ever grasp that there isnothing that could be done. They may accept as fact that a particular politician or government won't, but they will just think it is spite or mean-spiritedness. They will always beleive in a bottomless pocket somewhere out there, just waiting to fund a bail-out.

[Castlevania]

Some big moves in PM miners today. Not sure what’s behind it?

[M S E Refugee]

9 minutes ago, Axeman123 said:

Yes, but also no. I don't think the average muppet will ever grasp that there isnothing that could be done. They may accept as fact that a particular politician or government won't, but they will just think it is spite or mean-spiritedness. They will always beleive in a bottomless pocket somewhere out there, just waiting to fund a bail-out.

No doubt the Lefties will blame Capitalism despite Boris being the most Left-Wing Prime Minister in British history.

[Axeman123]

8 minutes ago, Castlevania said:

Some big moves in PM miners today. Not sure what’s behind it?

Watch and learn

[BadAlchemy]

30 minutes ago, Castlevania said:

Some big moves in PM miners today. Not sure what’s behind it?

DXY is weakening and favourable technicals, apparently... Good to see the PM miners perking up for a change.

https://www.kitco.com/news/2022-06-02/Gold-silver-push-higher-as-greenback-slumps.html

"Gold and silver prices are solidly up in midday U.S. trading Thursday, supported by a drop in the U.S. dollar index on this day. The near-term chart postures are improving for both metals, and that’s also inviting more technically oriented traders to the long sides. August gold futures were last up $24.70 at $1,873.50. July Comex silver futures were last up $0.42 at $22.34 an ounce."

[Democorruptcy]

34 minutes ago, Castlevania said:

Some big moves in PM miners today. Not sure what’s behind it?

Biden met with Powell on Tuesday maybe he's not keen on him raising rates?

US supplying rockets to Ukraine hasn't pleased the Russians, they have called it an act of war, some escalation there?

 

[Funn3r]

5 hours ago, Lightly Toasted said:

1. streamline the bureaucratic process to enable disconnection
2. put up tariffs for everyone who is still paying
3. let suppliers go bust due to being unable to collect customer payments
    
4. Stop playing silly buggers with Russia.

 

Well we can dream

[BWW]

16 hours ago, Bobthebuilder said:

If you mean restricting the flow of gas, then no they cannot.

Pre pay meters can shut off completely when you run out of credit, not sure about smart meters, but a gas meter has to be either open or closed.

I see a simple solution. If they can be turned off remotely [AIUI they can], turning them off for 50 mins each hour or 57 or whatever is effectively throttling. Whether gas boilers cope with that is a different question.

[Loki]

6 minutes ago, BWW said:

I see a simple solution. If they can be turned off remotely [AIUI they can], turning them off for 50 mins each hour or 57 or whatever is effectively throttling. Whether gas boilers cope with that is a different question.

I don't think that's feasible, I know a lot of stuff uses piezo ignition now, but there's still old pilot light boilers knocking about

[Bobthebuilder]

36 minutes ago, Loki said:

I don't think that's feasible, I know a lot of stuff uses piezo ignition now, but there's still old pilot light boilers knocking about

Exactly, same with gas hobs with no flame supervision device. Too much risk to turn the gas off, it aint gonna happen, unless they run out of course.

[Bobthebuilder]

47 minutes ago, BWW said:

I see a simple solution. If they can be turned off remotely [AIUI they can], turning them off for 50 mins each hour or 57 or whatever is effectively throttling. Whether gas boilers cope with that is a different question.

Modern boilers go into a lockout stage if no gas pressure is registered, requires a manual reset to get the boiler working , again they are not going to do that.

[CannonFodder]

It has just begun

 

 

[Sue Lowe]

4 hours ago, kibuc said:

Must be the posh part of Croydon.

To be fair, there are some rather nice areas in Croydon (the Borough of), especially down towards the North Downs. Very different to East Croydon, mind.

[M S E Refugee]

36 minutes ago, CannonFodder said:

It has just begun

 

 

[CannonFodder]

[UnconventionalWisdom]

9 hours ago, Bobthebuilder said:

If you refuse them entry into your property, then the only option to the gas supplier is to dig up the road outside your house and cap off the main gas supply. They only do this in exceptional circumstances because of the cost, usually it is done for safety reasons rather than none payment.

If they can get to your gas meter they will cap the outlet side with a disc, again this is done for safety reasons. I think it would be more a non payment of bills court action, before they got anywhere near capping your meter.

When I moved into my flat there were loads of warnings about late gas payment for the previous owner and the gas wouldn't turn on. I rang British gas to ask to be reconnected and the bloke said they weren't actually allowed to cut the gas off so check the cut-off valve. 

Found that interesting but makes sense- not sure how they deal with long term non-payment.

[Bricks & Mortar]

Any silver bugs with an HL account?

Silver Viper is apparently up 34% today.  A whole 7c to $0.275CAD!
Ya dancer, I'm rich!   Errr, I mean, a little further out of the hole i fell in with this one.
https://ca.finance.yahoo.com/quote/VIPR.V

But my HL says its only up 19.5%, and its only 25c.
https://www.hl.co.uk/shares/shares-search-results/s/silver-viper-minerals-corp-npv

I spect they went home early for the jubilee or something.

[Red Debt Redemption]

9 hours ago, Bobthebuilder said:

If you refuse them entry into your property, then the only option to the gas supplier is to dig up the road outside your house and cap off the main gas supply. They only do this in exceptional circumstances because of the cost, usually it is done for safety reasons rather than none payment.

If they can get to your gas meter they will cap the outlet side with a disc, again this is done for safety reasons. I think it would be more a non payment of bills court action, before they got anywhere near capping your meter.

Don't need to cap with smarto metero - remote cut off / switch to prepayment mode.

This is why they needed them in 'every home' 2020 now 2024. 

[Bobthebuilder]

18 minutes ago, Red Debt Redemption said:

Don't need to cap with smarto metero - remote cut off / switch to prepayment mode.

This is why they needed them in 'every home' 2020 now 2024. 

https://www.bes.co.uk/u6p-diaphragm-gas-meter-21423/?ref=gs

Yeah right.