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The Bar For non Automotive Related Chat |
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23-08-2011, 03:53 PM | #451 | ||
let it burn
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Apparently they are across the street from high rise Housing Commission flats, buggered if Id pay $1 mil to live there.
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23-08-2011, 04:24 PM | #452 | ||
Ich bin ein auslander
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Location: Loving the Endorphine Machine
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Happy if people wish to discuss the Block but it really is getting away from the topic of the thread unless the comments are about the real estate market and their effects/indications regarding a GFC. I think it is time to get back OT.
Feel free to start a thread on the Block if you wish.
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24-08-2011, 01:35 PM | #453 | ||
as in chopped
Join Date: Jun 2007
Posts: 1,991
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Sought of back on topic.
Will Gold be the next to crash ?
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-> Reading this signature was pointless <- |
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24-08-2011, 01:59 PM | #454 | |||
FF.Com.Au Hardcore
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VIXEN MK II GT 0238 with Sunroof and tinted windows with out all the go fast bits I actually need : |
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24-08-2011, 02:36 PM | #455 | |||
Where to next??
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Location: Sydney
Posts: 8,893
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Gold seemed to boom in the late 70's early 80's then dropped to half its boom value within 3 years. I'm sure there were other influences involved, but I think gold is just the fad investment medium of the current time. Just like heaps are buying because of the massive gains, how many would be bailing out really fast if the losses end up being just as rapid? http://goldprice.org/30-year-gold-price-history.html The Rand and Rupee prices seem a lot more stable as well?? Wonder why? |
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24-08-2011, 03:03 PM | #456 | |||
let it burn
Join Date: Feb 2006
Location: QUEENSLANDER!!!!!
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Shares can completely disappear during an economic downturn, or they can fall in value but survive and recover after a market recovery, however its hit and miss. Gold will still have value after a bust no matter what. It wont be the same value but retaining 30% of your worth is better than losing it all. You can rebuild without starting from scratch. This is gold for its value as a vessel for protecting wealth. |
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24-08-2011, 04:14 PM | #457 | |||
FF.Com.Au Hardcore
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I agree about gold.
Slight segue but where is oil at the moment? It's usally the opposite with oil, isn't it? when times are tough, oil drops because demand slows. IN other news: Quote:
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24-08-2011, 04:22 PM | #458 | |||
FF.Com.Au Hardcore
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Gold has dropped a bit, interesting to see how other currencies compared to gold thanks for the info. To be honest I dont know other currencies that well - It is interesting to hear that the Japanese government has been trying to devalue their own currency
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VIXEN MK II GT 0238 with Sunroof and tinted windows with out all the go fast bits I actually need : |
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24-08-2011, 06:43 PM | #459 | ||
If it ain't broke........
Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,736
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http://www.news.com.au/business/mark...-1226121224115
What GFC crisis...................??
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Visitors welcome Relatives by appointment only |
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24-08-2011, 06:59 PM | #460 | ||
Size it up
Join Date: Jul 2010
Location: big blue ball of mostly water
Posts: 591
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I think there's a few Asian countries that have been building up their gold reserves recently as the US starts to seem a less desirable place to park your cash.
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24-08-2011, 07:18 PM | #461 | |||
Banned
Join Date: Mar 2011
Posts: 455
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24-08-2011, 07:25 PM | #462 | |||
RPO 77
Join Date: Feb 2006
Posts: 1,945
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i thought i had posted this but maybe not - zero hedge from last week... http://www.zerohedge.com/news/chavez...sical-starting As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting? Tyler Durden's picture Submitted by Tyler Durden on 08/17/2011 16:27 -0400 Bank of England Barclays BOE Nationalization In addition to the nationalization of his gold insutry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. As the WSJ reported earlier, "The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela, said a person familiar with the matter. A spokesman from the Bank of England declined to comment whether Venezuela had any gold on deposit at the bank." That's great, but not really a gamechanger. After all the BOE should have said gold. What could well be a gamechanger is that according to an update from Bloomberg, Venezuela has gold with, you guessed it, JP Morgan, Barclays, and Bank Of Nova Scotia. As most know, JPM is one of the 5 vault banks. The fun begins if Chavez demands physical delivery of more than 10.6 tons of physical because as today's CME update of metal depository statistics, JPM only has 338,303 ounces of registered gold in storage. Or roughly 10.6 tons. A modest deposit of this size would cause some serious white hair at JPM as the bank scrambles to find the replacement gold, which has already been pledged about 100 times across the various paper markets. Keep an eye on gold in the illiquid after hour market. The overdue scramble for delivery may be about to begin.
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24-08-2011, 08:23 PM | #463 | ||
FF.Com.Au Hardcore
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So even the Gold is rigged....FFS these banks are ruining the entire world!
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25-08-2011, 08:48 AM | #464 | |||
FF.Com.Au Hardcore
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Who was it asking about Gold yesterday?
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25-08-2011, 08:50 AM | #465 | |||
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This kind of profit is great, only when the copmpany making the profits is giving back enough. At the moment, we're not seeing enough benefits from this. |
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25-08-2011, 09:29 AM | #466 | ||||
FF.Com.Au Hardcore
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25-08-2011, 01:08 PM | #467 | |||
FF.Com.Au Hardcore
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More from the US... New York Times
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25-08-2011, 07:12 PM | #468 | |||
Nothing stays standard !!
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Location: In the SHED !
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Not really sure where you are coming from with this one mate. How much more do you want to go back into the country ? How about 100odd thousand Australians it employes, and more than that again of contractors, and what about the billions it spends from australian suppliers to keep the place running ? 90% of what steel is from o/seas ? BHPB don't make steel... At the end of the day, it's an Australian owned company, we should be proud that an Aussie company is well inside the top 10, 6th in fact in terms of market value in the entire world ! I could maybe understand a bit of a whinge if China owned BHPB....... Not seeing the benefits huh ? You would see the benefits if it were all taken away, or lack of them. Last edited by peachey80; 25-08-2011 at 07:18 PM. |
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26-08-2011, 07:09 AM | #469 | ||
Bring back Ambrose!
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Location: Eau Rouge
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Good post ^
The company is giving a lot back by just having a big presence in Australia. Thread has gone quiet, I guess there is not enough bad press out at the moment. |
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26-08-2011, 09:29 AM | #470 | ||
FF.Com.Au Hardcore
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Not too sure wher everyone is, I know I m getting reemed at work, so it's tough to get any time on here at all these days. Plus I stopped posting negative reports I was finding from Eurpoe and American papers and journals - I didn't want to be seen as negative, so I am now posting only different things of interest like the mortgage post above.
On mining... I agree that it creates a lot of jobs. BHP is massive. Now don't get me wrong, I appreciate the impact that BHP has on Oz - from jobs, to tax, to superannution funds. I do get it. I know BHP, along with the other mining companies, contribute to Australia. But IMO, not enough. Correct, BHP doesn't make steel. Bluescope does. And there are others. We just can't do it as cheap as the Chinese because their labour costs are so low. I am probably going to get slammed for "protectionist ideals" here, but in all seriousness, when you have an indistry that is making such MASSIVE profits on Australia's resources we need to do more to make sure that the money is staying in Australia. There should be laws or subsidies in place to ensure that big projects, that are using public assets, use a high percentage of Australian materials, expertise etc. Do you think China would let a company walk in, mine and use foreign built machinery and materials? Why not mandate that Australian companies get allocated a certain amount of minerals at a set price - to be XX% cheaper than market rate? When you look at the way land ownership is set up in OZ, a land owner owns basically the topsoil. What lies beneath is meant to be owned by the country to be used for the good of the country. Farmers, provate land owners etc must allow mineral exploration on their land and if it's found, they don't own the minerals. This brings me to foreign ownership. Sure, BHP australian company. Actually 40% foreign owned, according to the latest reports. And yep, I do understand that most of the projects that get going wouldn't have half a chance without foreign investment. But if you dig into the ownership of the big projects you start to see how much foreign ownership is actually in play in all the projects. Here is one of the breakdowns of fereign ownership in big mining projects in OZ. http://www.maynereport.com/articles/...2040-8377.html I don't know, call me crazy, but in 50 years time I would like to sit back with my grandkids and see that the Australia that they are growing into has been smart and been aided by the mining boom as much as possible. Right now we are in a two speed economy, where manufacturing (employs over 1million Australians) is hurting - export manufacturing especially because of the high Aussie dollar, caused in part by mining boom. ete etc. Again, call me crazy, but it would be nice if there were new industries being developed, and the next generation was better educated because of the mining boom. |
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26-08-2011, 12:33 PM | #471 | ||
Bolt Nerd
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Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,852
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Governments both present and past have done zilch to protect Australian industry.
Steel tarrifs, subsidies or similar to what trippy mentions above to protect our inhouse mills is just too much like common sense. A classic example is our once mighty wool industry. Up until around 2003 a high percentage of our exported wool was shipped as either early stage processed (Scoured or carbonised) or as wool tops (the stage before spinning). The Chinese thought "we can do this processing much cheaper here in China" Our wool growers and wool processors got wind of this and pleaded with the government to put a buyer's tarrif on unprocessed (raw) wool leaving Australia. Australia being the world's largest wool exporter, naturally we held the upper hand and had the control? While our government bureaucrats pontificated over it, China beat them to the punch and put their OWN tarrif on PROCESSED wool entering China. And our bloody government didn't even bat an eyelid over it. Result... Within 2 years virtually every wool processing plant in Australia had shut it's doors, never to reopen. It was the beginning of the end for our great wool industry AND for the phrase... "Riding on the sheeps back"
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26-08-2011, 01:24 PM | #472 | |||
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26-08-2011, 02:37 PM | #473 | |||
T3/Sprint8
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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26-08-2011, 03:39 PM | #474 | ||||
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LOL, just for that, here's the headlines in London Quote:
Hahaha Sorry, but I couldn't resist. And by the way, I love life! I really do. I am very happy - apart from being smashed at work. |
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26-08-2011, 03:58 PM | #475 | |||
Former BTIKD
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Dying at your job is natures way of saying that you're in the wrong line of work.
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26-08-2011, 04:03 PM | #476 | |||
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26-08-2011, 04:03 PM | #477 | |||
Petro-sexual
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I'm on the rollercoaster for whatever happens. There's nothing I can do to avoid it, so I might as well just sit back and take what's coming. I'll worry about it later. |
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26-08-2011, 04:04 PM | #478 | |||
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Spot on....Both the GFC and the 1987 stock market crash were not predicted...I think it's safe to say that if they are saying it will happen then it probably won't..a bit like the weather forecast
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26-08-2011, 04:12 PM | #479 | |||
T3/Sprint8
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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26-08-2011, 04:34 PM | #480 | |||
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