Member Info for SteveJones999

Yet again, Bank of England wrong
https://www.poundsterlinglive.com/gbp-live-today/17601-month-end-pound-to-euro-and-dollar/amp

Paper headlines- pound tanking, pound tanking etc etc--- no back to 1.12 when it was 1.13 the Thurs before the mini-budget- so if the pound was "tanking"- why aren't the headlines now "rocketing" which is the opposite of tanking... look at all the currencies, and it's interesting stuff.
On CEY, good to see continued rise- although as Tony said - "where's our news?"...

Good point Tony!

I don't have any bonds in my pension which is probably why it's grown massively in the last 10years... Ipaid off my mortgage last year, but am concerned here for my kids, who are young and both have mortgages now, albeit can sustain quite large increases luckily here- but yes, a worry for many on top of everything else- I do think that growth is the only way out of this though- the UK Govt mini budget was clearly exploited.

I maintain my inference is obvious

Ah I see the panic having read this article- my pension is 100% global equity based- seems the vast majority are not:
"Of the approximately £1.5tn in assets held by UK pension funds, a weighted average of 72 per cent of these were invested in bonds in 2021, according to the Pension Protection Fund’s Purple Book.

Of this allocation, 24.6 per cent were invested in government fixed interest bonds, with 28.2 per cent allocated towards corporate fixed interest bonds, and the remaining 47.2 per cent in index-linked bonds. "

Full article: https://www.pensions-expert.com/DB-Derisking/Bank-of-England-buys-gilts-to-protect-pension-funds?ct=true

I've now just heard a pensions "expert" saying pensions getting it, worse than covid - utter lies, most pensions got whacked 20-30% in a couple of weeks and recovered that calendar year- most pensions based on markets and are slightly down in line and nothing like covid- what are these people on? Panic panic panic lies lies lies

The medi a and I mean the papers, bbc and all other free media we use as we have to oh they tv licence fee- are a sham. Again today it's the pound has crashed, no mortgages available etc etc absolute tosh.
About 10% of mortgages were put pulled and the pound is higher today than it was yesterday- the markets are crashing when the U.K. markets are now higher than yesterday- the media are absolutely ridiculous...

https://www.hulldailymail.co.uk/news/uk-world-news/bank-england-launches-bond-buying-7637734

If you can't figure out what you mean in my post then I'm surprised you even have the ability to type as the inference is so obvious

Well Goldgnome, the last 10years has been poor on growth, plus increased population, increased public services spend and increased taxes has caused dire growth by comparison with other countries. Accept brexit, covid, Ukraine war and ridiculous net zero targets, but something had to change and I am pleased with what Truss is doing- would have raised tax free amount and cut fuel duty but you can't have everything- I recall 364 (including Bank of England) said Thatcher's tax cuts in 1986 would end up in disaster and the opposite happened- had we continued on the Sunak route - deeper and more painful recession would have ensued- only an odiot keeps doing the same things and expects different results...

Funny how no one ever publicises their short when it goes up lol- but to be fair the last few years lol

The hyperbole has reached levels on doom not seen since.... oh June2022 lol- if, like most people, investments are balanced and global, U.K. issues not the end of the world as some seem to think. I like what the U.K. have done- bold, and far better than doing nothing or persuing the dire Sunak policies. Corporation tax not going up (massive phew- it was bonkers to propose 25%!!!) tax off the wealthy, will boost investment- gas cap etc helps all and business- something had to be done! Going for growth is positive - last PM and chancellor was tax, tax and more tax and restrict growth and shell out unlimited money to pointless panics like covid and following public opinion-
Leadership is here at last- time will tell, and of course, I invest globally so balance is key, so again, as has never been, overly invested in U.K.

It's nothing to do with the UK- simply following the US like all global markets do in the vast majority of cases- I do agree, however, the drop in the pound is. As a proxy, the S&P now down to the June2022 drop level.
I also agree miners, incl. CEY have been awful investments in the past 5 years or more.

Agree goldgnome

FED decision in, speech in 30mins- in case you were wondering why swings...

Highly like will go through- but you are correct- what does that mean for the timing to get ur cash for shares? Other buy outs like this have taken 6months- so I may sell half now as don't want my cash doing nothing for potentially months

75 remains most likely- but, as ever, what Powell says will have biggest impact ...
https://www.cnbc.com/amp/2022/09/20/fed-expected-to-hike-rates-by-three-quarters-of-a-point-again-but-its-forecast-may-matter-most.html

the "BANKS" not "backs" I mean lol

Yes, but I post gold on gold and crypto on crypto- you need to be far more balanced- the article you posted was from one person eg their view- I did a quick google and it took about 5 secs to find an contrarian view, also on IMF, so no consensus on IMF- well's there's a surprise- so you are being very selective and using the fact that is in in IMF a reason to push your viewpoint- strange you didn't post the other contrarian...
Equally, I find it incredible that people post on "the system" and yet crypto has shaken this up massively, it's the system eg backs that are ripping everyone off- look at all the money made/lost in the US Dollar/UK Pound made recently, not to mention the nutty fees paid by all on payments across banks, cards etc etc... Crypto is here to stay- clearly you don't like it, but that's your choice, I will counter each time you do...