UK Economy

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Archery1969
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Location: Newport

Archangel wrote:
Fri Nov 18, 2022 11:17 pm
Archery1969 wrote:
Fri Nov 18, 2022 10:56 pm
The BOE is sitting on £600 billion of gold.
Where do you get that number from ?
Current BOE Gold reserves are 310 tonnes of 9ct, 18ct and 21ct at todays market price.
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Archangel
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Location: Polo Lounge, Beverly Hills Hotel

Archery1969 wrote:
Fri Nov 18, 2022 11:43 pm
Archangel wrote:
Fri Nov 18, 2022 11:17 pm
Archery1969 wrote:
Fri Nov 18, 2022 10:56 pm
The BOE is sitting on £600 billion of gold.
Where do you get that number from ?
Current BOE Gold reserves are 310 tonnes of 9ct, 18ct and 21ct at todays market price.
I don't think that's anywhere near to £600 billion
Archery1969
Posts: 3193
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

Archangel wrote:
Sat Nov 19, 2022 12:33 am
Archery1969 wrote:
Fri Nov 18, 2022 11:43 pm
Archangel wrote:
Fri Nov 18, 2022 11:17 pm


Where do you get that number from ?
Current BOE Gold reserves are 310 tonnes of 9ct, 18ct and 21ct at todays market price.
I don't think that's anywhere near to £600 billion
310 tonnes gold at varying carat quality, 100 tonnes gold under safe storage by private individuals and organisations, 100 tones or precious diamonds and other metals held in storage, £88 billion held in cash by individuals and organisations held on account.

My point is it’s way and beyond the £55 billion black hole and could be used over 5 years to fix things.

There is also a cash reserve to guarantee every physical paper not in circulation by default. That shy it’s written on said notes.

Vast sums of money, guilts, bonds, gold, diamonds, platinum and other precious commodities.

Next question, why do you think the BOE has never been robbed, ever ?
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wearthefoxhat
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Read somewhere that £120 Billions worth of public money is held in Premium Bonds. (20 million+ savers)

Maybe they could get creative and get that figure increased to cover the deficit.

Having said that, if everyone wanted their money back at the same time.... :shock:
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Euler
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I have maxed out on PB. So I think that's a terrible idea! :lol:

I think most people see it as bit of a punt they can't lose which yields a bit as well.
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Naffman
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House prices down 2.3% MOM, biggest monthly drop since the GFC and this is data probably from late summer, it’s going to be an absolute bloodbath over winter.
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Archangel
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Could we be heading for a General Strike in the UK ?

Hasn't happened in almost a century apparently
greenmark
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Joined: Mon Jan 29, 2018 2:15 pm

Archangel wrote:
Thu Dec 08, 2022 2:55 pm
Could we be heading for a General Strike in the UK ?

Hasn't happened in almost a century apparently
You may be right. I've noticed in my locality that it's clear a lot of people are not suffering a cost of living crisis. I see house extensions, tesla's, house cleaning services etc poppping up all over. But last time I checked my local community food bank has expanded and was oversubcribed.
Perhaps capitalism is failing. Or is it democracy? MP's turning their backs on politics to follow more lucrative options.
Strange times.
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Naffman
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Naffman wrote:
Wed Dec 07, 2022 10:12 am
House prices down 2.3% MOM, biggest monthly drop since the GFC and this is data probably from late summer, it’s going to be an absolute bloodbath over winter.
Nationwide data shows average house price losing almost £1k a week
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Archangel
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Location: Polo Lounge, Beverly Hills Hotel

Did no one explain to these people that the Brexit deals were done already by Boris.
"Oven Ready" to quote his election campaign slogan
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Archangel
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Apparantly the UK's economy will be overtaken by Polands economy by the end of the decade.

Could be interesting seeing British builders going to Poland rather than visa versa ;)
greenmark
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Archangel wrote:
Thu Mar 02, 2023 6:14 pm
Apparantly the UK's economy will be overtaken by Polands economy by the end of the decade.

Could be interesting seeing British builders going to Poland rather than visa versa ;)
Sad really. Shared accommodation with a Polish couple and they were great. They came here to escape corruption and be judged on merit. Then we kicked them out. So we lost a project manager and office manager. And now employers are whingeing about labour shortages. :roll:
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Archangel
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Rishi Sunak claims that Northern Ireland will have a great economic future as it will have unique access to EU markets which rest of UK wont

Great to see Rishi is so positive about the benefits of EU membership !
greenmark
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Joined: Mon Jan 29, 2018 2:15 pm

Archangel wrote:
Thu Mar 02, 2023 8:19 pm
Rishi Sunak claims that Northern Ireland will have a great economic future as it will have unique access to EU markets which rest of UK wont

Great to see Rishi is so positive about the benefits of EU membership !
:lol: How do we express astonishment without expletives or blaspheming? I know! Look at the FTSE since 2016 compared to other recognised stock markets. Oh dear, oh dear!
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Derek27
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Archangel wrote:
Mon Feb 27, 2023 3:42 pm
Did no one explain to these people that the Brexit deals were done already by Boris.
"Oven Ready" to quote his election campaign slogan
Buffoon Boris is now saying "Brexit is nothing if we don't do things differently".

As we're not doing things differently, it's an admission that Brexit is nothing. Or perhaps he means Brexit will only work if he's PM, lying though his teeth and partying at Chequers. :)
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