Iceland Krone Meltdown.

VITO_3

chesky369 wrote: »

"sometimes greed comes before common sense"

I think I prefer scare-mongering to holier-than-thou rubbish.

Thats nearly word perfect to what many people called me when I warned them about the Isle of Man Savings and Investment Bank and its dubious dealings in the early 1980's.
It went under in 1982 with the loss to investors of £42 million,the Lord Bishop got his money out in time though,must have been divine intervention.

ianmr65

VITO wrote: »

Yant1 wrote: »

Perhaps you better go and spend it all on shotguns

Funny you should say that,I purchased a cased pair of Holland & Holland 12 Bore Side By Side in 1998 for £3600 and recently sold them for £35000 at Sotheby's,you must be a mind reader.

Loooking at the Gavin Gardner site the last pair of side by side H & H's that i can find went for £16k a year ago. Perhaps you can post the link?

VITO_3

ianmr65 wrote: »

VITO wrote: »

Loooking at the Gavin Gardner site the last pair of side by side H & H's that i can find went for £16k a year ago. Perhaps you can post the link?

Gavin GARDINER has been an agent for Sotheby for less than two years and would have had no involvment and certainly not with private treaty sales.
For your information a new Holland and Holland 12 Bore costs upwards of £45000 +VAT for ONE gun.

ianmr65

VITO wrote: »

ianmr65 wrote: »

Gavin GARDINER has been an agent for Sotheby for less than two years and would have had no involvment and certainly not with private treaty sales.
For your information a new Holland and Holland 12 Bore costs upwards of £45000 +VAT for ONE gun.

HOLLAND & HOLLAND
A PAIR OF 12-BORE ROYAL MODEL SELF-OPENING SIDELOCK EJECTOR GUNS. Sold for £16000

http://www.gavingardiner.com/BidCat/detail.asp?SaleRef=0002&LotRef=102

ianmr65

Stompa wrote: »

I imagine the original post was prompted by this article:

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/23/cckrona123.xml

in todays Telegraph.

Typical telegraph old news re-hashed, un-balanced scaremongering. If i had the inclination, i could find 5 or six serious articles, in the FT, and Bloomberg, where she lifted her 'fact's' from.

This is the real story

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3602076.ece

Especially this bit :

"Separately, regulatory filings made by B&B’s wholesale funding vehicles late last week indicated that the bank has seen customer arrears jump by between 40% and 50% since December"

aztec21

ianmr65 wrote: »

Being as iceland is the richest country in the world on a per capita basis, has an economy which is robust to the point of overheating, and intrest rates that would make you're hair curl. A fall in the price of the krona is a good thing. It will enable them to be more competetive, on exporting their (limited) goods and extensive financial services.

Iceland isn't the richest country in the world on a per capita basis
http://www.aneki.com/richest.html

However I do agree with you on a falling Kroner being a good thing. The price of goods in Iceland is ridiculous.

ManAtHome

Given the current state of things, you're probably better off being at least partially covered by non-UK guarantee schemes. Poundland has more personal and government debt per head than just about every other country on the planet - spreading the risk is a good idea IMHO...

[edit] thanks Aztec - Equatorial Guinea was a surprise.

ianmr65

aztec21 wrote: »

Iceland isn't the richest country in the world on a per capita basis
http://www.aneki.com/richest.html

I stand corrected, thanks aztec. It's in the top ten though. And it is the most Developed, according to the Human Development Index and it's the 4th most productive. :T :T

ianmr65

ManAtHome wrote: »

Given the current state of things, you're probably better off being at least partially covered by non-UK guarantee schemes. Poundland has more personal and government debt per head than just about every other country on the planet - spreading the risk is a good idea IMHO...

[edit] thanks Aztec - Equatorial Guinea was a surprise.

Yes indeed. The lastest weeze, led by Gordon, and Merv, is a push to all the central banks, to buy the (possibly toxic) securitized mortgage debt, off the striken banks. Without knowing what it's really worth, not just accept it as collateral. AT TAX PAYERS EXPENSE!!!!
The Fed, was considering, the ECB thought it was a bad idea.

Who then do we think sees the securitzed mortgage crisis and a housing crash as the biggest political or economic risk.

Dollarland. Nope. They've gone a long way to sorting it out, plus they are used to vast numbers of people living in trailers, shacks, or hoovervilles.
Euroland. Nope. Most Germans don't have mortgages, and who gives a 'merde' about the spanish or the irish.
Poundland. Yes, for sure. we have to do something!!! No Return to Boom and Bust. Stabillity. Prudence!!!

The uk mortgage banks must really have their backs against the wall.

ianmr65

ManAtHome wrote: »

[edit] Equatorial Guinea was a surprise.

Food for thought. Tho i think i'd prefer malawi.

In the land of the blind, the one eyed man is king.