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Yep, inflation running rampant around the world, Turkey has a runaway 36%. Only a matter of time before stagflation creeps in too. See Boris and Sunak are going ahead full steam with the hike in NI for April. Bad times ahead for all but the well prepared..
The apparent volte face comes after other experts at the bank said earlier this month that Bitcoin would take market share from gold as more people pile into the cryptocurrency, predicting its value would reach $100,000 in five years.!
But they warned that the energy required to mine Bitcoin could hinder its popularity!
Quite appropriate considering today's announcements by the clowns in charge at No 11 & No 10 Downing Street!
Mr T- all experts, get paid and are as wrong as they are right. Sometimes I think "new" experts make bold statements and if they are right everyone thinks "genius" and follows and they make money, until they are wrong... for some publicists it's well worth the gamble and better than saying nothing lol.
So many predicted market crashes since 2016- when in fact US indices doubled- sure at some point, they will be right, but will forget to mention all the times they were wrong and even if a crash is correct, they forget to mention that people would still have made more money if they hadn't listened, despite a crash... long term equities make (if balanced) and so does gold- just both can have sizeable lengthy dips alas.
This chart is an interesting one someone posted on another forum, which goes someway to explaining why we've not seen a gold surge on the past year or so inflation worries and realisation https://www.cnbc.com/2021/06/08/gold-as-an-inflation-hedge-history-suggests-otherwise.html
Hi Steve,,
Absolutely, but then if any of the experts were that good wouldn’t they all have made their billions and sailed off into the sunset instead of writing article based on so many uncertain/unknown factors, not to mention the behind-the-scenes control/manipulation by the world’s central banks and politicians
I recall the past discussions I have had with someone who has many years’ experience in the wholesale markets and they have often said they know what should happen, but nothing is certain because despite what is claimed the market isn't a level playing field and there are those who have access to information many hours before the rest and so can pull the right levers to make the market move the way they want it to!
It’s just like brokers the same applies to them, but then its far easier and safer to get paid placing bets with someone else's money rather than their own!
My dad was a successful licensed scarp metals dealer, he started the first container style commercial factory waste collection service in the sixties, using Massey Ferguson industrial tractors and Wheatley high sided trailers, at that time big bin on off trucks didn't exist.
My Dads weaknesses were that he assumed that he could trust far too many of the other people he did business with and he loved horse racing!
When I was a young lad my Dad took to the local Tradesmen Club and whilst he went off to do a bit a of business and as I sat alone drinking my pop a very well dressed man brought me over another bottle of pop with a packet of crisps, before sitting down he introduced himself as Uncle Markie and asked if he could join me, I agreed and on taking a seat he asked if Dad had mentioned him to me, I replied I had heard off him and asked if he was in the scrap or rubbish clearance business ?
Uncle Markie laughed and replied that he wasn't, he didn't like getting his suit dirty, but he was a bookmaker and did I know what they did, I replied I wasn't sure, he replied well I take bets on horses from people like your Dad.
Uncle Markie then asked if I knew how to place a bet on a horse to which replied I didn't,
Markie replied then that to the good because you don't want to know, take it from me lad I never lose, its people like your Dad that lose and he would be far richer if he stayed away from my betting shop!
With that he stood up patted me on the shoulder saying "remember lad stay away from backing the Gee Gees", with that he turned and left.
I have stayed away from the bookies, although some brokers are just like bookies, although not as honest as Uncle Markie!
Lol Mr T- happy memories- I play golf with my dad 2 times a week- he’s 82 and was a single handicap golfer (good) all his life - I treasure every game and am very lucky