Discussion on economic situation in the UK

You were expecting him to keep the blog going on charity or what? lol

I was hoping he'd have moved on to using groats, livestock and tins as a medium of exchange by now. If he's doing anything other than living in a commune on a ranch in Dakota I'd be sorely disappointed.

Why so bitchily?

It's not. I'm pointing out that the guy is suggesting that the world is teetering on the edge of total collapse, to which he thinks the answer is some of his silver and gold. It's like peddling hard hats in event of nuclear war.

Well, one doesn't have to buy everything he's saying, even shouldn't - I don't... that would be just naive. Though, the 'facts' part is just something you can't ignore - he didn't invent all of that stuff - simply put it together, although, obviously emphasized what he's interested in...

Fair enough, and yes - people like James Rickards for eg are definitely worth listening to. And the whole shebang did nearly collapse a couple of years back.

The perils of fiat is in direct proportion to the amount generated in excess of growth rather than a problem with fiat per se, the boring reality is it's about degree rather than absolutes. But that doesn't make headlines

EUR USD, couple of things you may want to consider on your mortgage. If you can get a longer fix than 2 years it would be worth considering. If interest rates go down, think about how far they CAN go down, it will make no/little difference to you. On the other hand as is very possible, rates could go up and none of us knows by how much. You may or may not remember when rates went up to 15% thanks to Lamont and Soros etc.. In this very uncertain climate anything can happen. This is the time to get the longest and lowest fix you can, avoid any kind of tracker deals. As soon as BoE rate starts to rise the lenders will capitalise and increase their margin by increasing their SVR (likely by more than BoE).
The early years of your repayment mortgage, you will pay peanuts towards the capital, most of your monthly payment will be interest.
Also, check the conditions on your mortgage product. Quite often it will allow you to repay an additional 10% or more of your capital in a year while you're in the fix rate deal and without being penalised.
Finally here's a neat way of paying off more of your capital with little apparent pain. You need 1 clear mortgage payment ahead to do this. You set up a separate account for your mortgage DD payments. If your monthly payment is £495 then you pay that amount into your mortgage feeder account every 4 weeks instead of monthly. If you can pay any other amounts, perhaps from your forex profits, into that account so much the better. You will build up a surplus which depending on the conditions of your mortgage product, you can either pay towards the CAPITAL (any such payments to your lender MUST be clearly stated as payments towards capital, otherwise they may treat it as future interest payments, ie it disappears into the ether for a loong time) on monthly quarterly or whatever. If your mortgage deal prohibits any additional capital reduction during your fix then just pay it at the end of the fix period and before you take another deal. Then your lender will be looking for a lower monthly payment, but you carry on with the same monthly payment and you'll be surprised how much you accelerate the payment of your capital. It's how how you turn a 25 year mortgage into a 15/18/21 year mortgage. Hope this helps, best wishes with the new property, good time to buy.
Strada.

Exactly!

Point is: excess of growth seems to be inevitable for now...

thanks for advice. times are uncertain, but being afraid of it is like being afraid of life.
yes I can pay in 10% without penalties
I have no fx profits so my idea is to find second job and to wipe 2 years of my life - just work and work, 80 hrs a week - I've been doing it before and can do it. sad but I consider it. still a lot to think about

That's indeed sad.

I hate the very idea of a day job - let alone 80 hours per week as you say... OMG Hope you won't decide on that...

I'd rather live in slums but study trading and in those same 2 years start gaining some money - even without experience at all it may be enough if you put in due efforts. In the long run you'll get much more...

I'll keep trading and see how it goes, but will nearly defo think about paying as much as possible within the 2 years. The point is that for my trading all I need is 2-3 hours a day