Ayupmeducks 1,730 Posted July 8, 2015 Report Share Posted July 8, 2015 I see that Greece is not the only country in dire straights, the Chinese stock market has collapsed!! I wonder if we are on the brink of an international bank collapse? Hope you've got some of your paper money changed to silver or gold coins!!! Quote Link to post Share on other sites
DJBrenton 738 Posted July 8, 2015 Report Share Posted July 8, 2015 The Chinese stock market has been growing too fast over this past year and has fianlly corrected itself back to March levels. All other indicators there are fine so I don't expect a knock-on effect. Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted July 8, 2015 Author Report Share Posted July 8, 2015 I hate to be the bearer of bad news DJB, but the Chinese stock market has all but crashed! http://www.news.com.au/finance/economy/chinese-chaos-worse-than-greece/story-fnu2pycd-1227430761673 Quote Link to post Share on other sites
DJBrenton 738 Posted July 8, 2015 Report Share Posted July 8, 2015 Take a look at this graph and you'll see why it isn't really as bad as some commentators are saying. As many experts think the Chinese government are over-reacting as think it will cause real problems. 'All but crashed'? It's more than doubled in value in the last 12 months and is now readjusting. At 'crashed' levels it's still 75% up on a year ago. No need to sell your bamboo shoot futures just yet. From the Economist The trigger in China’s case is perplexing. Yes, the stockmarket is down a third over the past month, but that has simply taken it back to March levels; it is still up 80% over the last year. Growth, though slowing, has stabilised recently. Other asset markets are performing well. Property, long in the doldrums, is turning up. Money-market rates are low and steady, suggesting calm in the banking sector. The anticipated correction of over-valued stocks hardly seems cause for much anguish. Quote Link to post Share on other sites
tomlinson 879 Posted July 8, 2015 Report Share Posted July 8, 2015 Some years ago there was a TV play about Britain being in dire straits, similar to those of Greece today, and the government was waiting on America to bail us out. The help was not forthcoming from that quarter but did in fact come from Russia. It wouldn't surprise me to see Russia step in now. After all, Greece is desperate for money and I'm sure Russia wouldn't mind a military toe hold such as this in the Med. Quote Link to post Share on other sites
The Pianoman 1,535 Posted July 8, 2015 Report Share Posted July 8, 2015 I hate to be the bearer of bad news DJB, but the Chinese stock market has all but crashed! http://www.news.com.au/finance/economy/chinese-chaos-worse-than-greece/story-fnu2pycd-1227430761673 Once every 3 or 4 years I get to weigh in a load of scrap metal. I had planned to do so about now, so last week I rang up Wards to find out what they were paying for mixed metal. It is currently £80 per tonne - which is VERY low. It is partly because the Chinese no longer want it! Quote Link to post Share on other sites
DJBrenton 738 Posted July 8, 2015 Report Share Posted July 8, 2015 The thing is that the China's underlying economy is fine. I bought shares in the Shanghai International Ports company in November at 5.75 and it's grown 50% even with this 'crash'. There's even been a bounce back today against the low point. Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted July 8, 2015 Author Report Share Posted July 8, 2015 I also read a prediction Russia would bail Greece out too. Quote Link to post Share on other sites
NewBasfordlad 3,599 Posted July 8, 2015 Report Share Posted July 8, 2015 #6 Have you checked what you need now in the way of ID etc to weigh in after the new reg's came in to try and stop scrap metal theft? Quote Link to post Share on other sites
DJBrenton 738 Posted July 8, 2015 Report Share Posted July 8, 2015 Isn't it primarily that you will get paid by cheque so are traceable? I presume standard ID will suffice. Quote Link to post Share on other sites
NewBasfordlad 3,599 Posted July 8, 2015 Report Share Posted July 8, 2015 Depends on how far the yard want to take it, they really should ask for proof of where you obtained the metal. The whole act is bloody shambolic and of course the wise boys find a way round it. But its worth checking before you trundle off down there, only to have to return to get correct documentation. Quote Link to post Share on other sites
barclaycon 569 Posted July 8, 2015 Report Share Posted July 8, 2015 Russia doesn't have the money. Even if they did have the cash they are severely restricted by waht they can trade in Euros and Dollars because of the sanctions. Unless Greece decides to ditch the Euro for the Rouble. Quote Link to post Share on other sites
catfan 14,793 Posted July 8, 2015 Report Share Posted July 8, 2015 Once every 3 or 4 years I get to weigh in a load of scrap metal. I had planned to do so about now, so last week I rang up Wards to find out what they were paying for mixed metal. It is currently £80 per tonne - which is VERY low. It is partly because the Chinese no longer want it! Whoa, hang on there, the Chinese money market is in dire problems cos the Pianoman hasn't weighed his scrap in ! 1 Quote Link to post Share on other sites
mick2me 3,033 Posted July 8, 2015 Report Share Posted July 8, 2015 I knew no good would come for selling these Xiaomi cameras for forty six quid! As long as I don't have to start paying any shipping on 99p ebay items from Shenzhen! Quote Link to post Share on other sites
The Pianoman 1,535 Posted July 8, 2015 Report Share Posted July 8, 2015 When weighing in at the scrappie they need your driving licence and you are paid by cheque. Its a farce! Quote Link to post Share on other sites
catfan 14,793 Posted July 8, 2015 Report Share Posted July 8, 2015 What happens when cheques get phased out ! Payment in "groats" possibly ! Quote Link to post Share on other sites
DJBrenton 738 Posted July 8, 2015 Report Share Posted July 8, 2015 Then they will put the money onto your credit card or do an online bank transfer. Not paying in cash any more stops anonymity. Quote Link to post Share on other sites
NewBasfordlad 3,599 Posted July 8, 2015 Report Share Posted July 8, 2015 BACS payments are one thought SNAP Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted July 8, 2015 Author Report Share Posted July 8, 2015 The Banksters are talking of a cashless society, that will benefit the lower paid poorer parts of society, they can trade and barter, we will have a "black underground" economy where governments lose on taxes and not be able to trace all transactions. It will screw the rich as every purchase will produce an electronic paper trail, I also wonder how the drug "lords" will handle a cashless society, they will lose billions. Hell, this maybe a way to get rid of the drug problems...LOL 1 Quote Link to post Share on other sites
The Pianoman 1,535 Posted July 8, 2015 Report Share Posted July 8, 2015 What happens when cheques get phased out ! Payment in "groats" possibly ! You can have it paid straight into your bank if you wish. I like to pay the cheque into the Building Society Quote Link to post Share on other sites
taxi ray 170 Posted July 8, 2015 Report Share Posted July 8, 2015 Wards will pay the money onto your debit card, they have an atm machine in their weighbridge, so you can withdraw the money straight away. It is just like being paid cash, but it is traceable. Quote Link to post Share on other sites
Bubblewrap 3,815 Posted July 8, 2015 Report Share Posted July 8, 2015 #19 So how do I get paid when I mow the woman next door's lawn? If she has nothing I want or need ? And by the way she's as ugly as sin. Quote Link to post Share on other sites
Bubblewrap 3,815 Posted July 8, 2015 Report Share Posted July 8, 2015 My ex sister in law(first wife's sister) lives in Crete in a small village & a lot of life is carried on by barter & for village life it works quite well. Quote Link to post Share on other sites
Guest Posted July 9, 2015 Report Share Posted July 9, 2015 Works here too Bubblewrap.. Swapped the wife for two goats and a set of jump leads!! Quote Link to post Share on other sites
Chulla 4,946 Posted July 9, 2015 Report Share Posted July 9, 2015 #22. BW. Paper bag over her head? Quote Link to post Share on other sites
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