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About Rikk03

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    Birmingham UK
  1. Hello All, Its been several years since I posted here - its good to be back. I am working in the logistics business and Today i have come into a problem I am certain this forums Knowledgeable members can solve. This is a real situation. Request for transportation of 100 containers a year over 5 years. The manufacturer is concerned about the cost of transport and is asking us to price fix for 5 years. We know the price of each container is going to go up by 150 dollars on the 1st May and that transport cost will fluctuate greatly over the next 5 years. Customer is right to be concerned. What I'm looking for is ideas of how we can limit the risk to the client and to us - as a logistics services provider. Thanks in advance.
  2. Recent articles ive read indicate the government is aiming at 3.5x income mortgages as being the max. Since the government is pretty much in control of most of the banks now id say that this would be the figure to look at. House prices arnt going to recover until most of those people who took on bigger multiple mortgages and have to remortgage in the future but can't are forced back into renting / downsize. It seems to me that the lower end of the market is unlikely to fall that much in most of the UK - just in London where apartments are massively overpriced. People downsizing will support the market elsewhere. If we look at the UK average income is approx £22k then we are looking at 77k max, then add on 20% deposit then we are looking at 100k max for single person. Thus average price of one bed apartments will end up being 100k and two bed probably a little more (how much is an extra bedroom worth??) 125k? 140k? Northern Rock are about to start doing 90% mortgages again - for people with perfect credit record.
  3. Oh dear, Well I dont know if I can wait until 2014 to buy However it would fit nicely into my investment plan. I have several apartments in Hungary that I posted about on this website prior to purchase several years ago, my first apartment is nearing completion. I purchased in phase one of this development www.lakasingatlan.hu/en see the gallary for the original design concept, there is also a flash video on the site. The final design concept for the entire site was designed around an architectual competition that was won by this firm http://www.3lhd.com/index.php?activate=pro...=77&lang=en . The credit crunch has had an effect on the development in that phase 2 has been delayed for probably a good year or so. International buyer market has dropped by 40% as the Irish / Spanish / English buyers retreat back to their own countries to finance obligations there. There is no house price index in Hungary and since prices were so low prior to the credit crunch (20% below the EU average for a capital city - including other emerging economies) the likelyhood of price falls was always unlikely - hence why I purchased there. My first apartment is finished next month and I have already found a tenant for it a single corporate let - a lady currently working and living in the area (non smoker!!). Rental agreement will be 125 000 HUF per month = 425 Euro (300HUF = 1 Euro) at current exchange rate (consider that HUF is at all time low vs Euro right now). I am expecting HUF to strengthen to 235 vs Euro before they join the Euro which is likely to be 2012. I am not unhappy about this rental figure since the site next to my apartment is effectively going to be a building site for the next 3-4 yrs. I will probably refinance in Hungary to purchase in UK in 2014 if that graphical illustration holds true. If you are interested in Central / Eastern European property - and in my case - investing in Hungary, I started a thread in 2007 regarding my investment. http://www.greenenergyinvestors.com/index....&hl=Hungary
  4. What are your thoughts regarding the path of the Euro countries during this high inflationary time in the UK. Surely Germany will prevent the Euro currency following the same path considering their hyperinflationary past experience. Lets set out a time frame here - the path economic path that US / UK / Euro zone / etc will likely follow - GDP vs time, inflation vs time, currency value vs time so we can more easily spot the path to follow. Perhaps there are just too many variables to do this. Or perhaps all of the major economies will now synchronise, since we have all hit the global brick wall here - together. I suggest we start a thread specifically for this purpose with the eventual goal to produce a graphical representation of the next 10 - 15 yrs. A simple graph to represent the housing price cycles over time (from the past and we could attempt the projection of the future) will be very useful - comparison of cycles over time would be interesting to see.
  5. Fixed rate for 5 yrs! I would certainly buy.
  6. Rikk03

    There's no credit crisis

    The level of debt in the economy could be thought of as a fully inflated balloon, the Lehmans brothers collapse as a pin bursting the balloon. In that respect it is the cause, however if it had not been Lehmans then it would have been something else. Therefore I subscribe to the view that it is the policies put in place by the UK / US governments to prevent a recession after the Golf war and subsequent growth based purely on expanding debt levels deliberately left to run rampent to cause a situation which would force china to address the imbalances within the global trade - force the appreciation of the Chinese currency and at the same time deal with the massive debt built up by the US/UK through inflation. As soon as China refused to allow their currency to appreciate sufficiently it became obvious that there was only one alternative. Its all part of the economic cycle, expansion of debt = boom years followed by correction recession or depression. As far as im concerned the banks can't be blamed for this situation since it was all so inevitable.
  7. Rikk03


    Venezuela has declared that it is going to confiscate all foreign owned gold mines (biggest is Canadian) and subsequently is going to double production. This action is in response to the current price of oil - since 90% of their revenue is from oil the price falls are seriously hurting them. This action is a part of a wider plan to diversify away from oil. Article was on the BBC thismorning. It wouldn't surprise me if other countries do the same action.
  8. Rikk03


    I have a Euro account and a USD account with Barclays, I moved all my cash / savings out of £ the day before Northern Rock situation hit the news. I needed to move cash into Euros anyway due to having to complete on an apartment in Hungary in Euros. SO it just seemed a good time to move the money then and as it turned out the £ has fallen ever since I purchased a fair bit of gold at the same time I probably would have done neither if it wasn't for this website.
  9. Rikk03


    Ok guys, I have another £10k to play with since I took advantage of the GBPvsEuro and exchanged some Euro savings, but I need to it relatively liquid - easy in easy out, whorish like. Any suggestions ... tempted to look at an Oil ETF in January or get some more gold coins .... any suggestions?
  10. Rikk03


    Mint condition Edward 7th - all 10 varying dates still in case - as new - probably been sitting in a vault for 50 years.
  11. Rikk03


    A year ago I promised myself that I would sell at £550 oz ....... anyone want to buy? I never specified how much I would sell tho. 6 Krugers and say 10 sovereigns? Anyone offer me £5k?
  12. Deflation in some areas maybe ........ anyone notice that LCD & Plasma screens are going up in price now!! I purchased a Panasonic Plasma 4 months ago for £799, the price subsequently dropped to £750 but then more recently the same TV is now £850. Maybe just down to the fall in value of the £ perhaps?
  13. Rikk03


    I was talking specifically N Ireland, but the rest of Ireland probably has massive deposits as well, it was the North that was surveyed. You are probably right ....... planning permission will be very difficult to get - if they ever do manage to get it that is.
  14. Rikk03


    Did anyone see that program Friday evening about gold deposits in Northern Ireland? It featured info about N Irelands first commercial gold mine - first of many it would seem. Northern Ireland has potentially the highest gold concentrated mineable reserves (still in the ground) than anywhere else in the world. Great boon for the British economy. Could eventually overtake South Africa as primary source.
  15. Suburban Ontario is not exactly a picture of all Canada. I know Ontario through family since my Grandparents lived in Niagara on the Lake and my Mother is a proud Canadian although she has lived in the UK for the last 30 years. What the Canadians and the Americans love about the UK is how quick travel is to places of interest, a 30 minute train trip would be a 24 hour drive over there. They love our history since we have so much of it we tend to take it for granted, Roman, Viking, Kings and Queens etc. At the same whilst liking how close together everything is, they also tend to miss the wide open spaces, decent sized houses with good sized plots. If you want nightlife you go to the city. A good town in the UK has all the nightlife needed, whereas the average town in US / Canada seems to be relatively boring. At the end of the day its about being close to the city, but not in it and just as Dr Bubb often says its all about transportation Hubs - quick rail journey into Toronto. Not forgetting the work situation as well. Personally I would live in or close to Ottowa purely because that is the capital and it is a beautiful city! If you like the French and the Historic feel to a place then Montreal is your place. Be aware both are in the Snow belt, if you prefer the warmth, then Ontario is your place - they also happen to have some of the best wines in the world (my preference), vinyards all over the place - if you like wine visit Niagara. Biggest down side to Canada = Winter lasts a month longer. Or ..... Distances you have to travel.