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Banks in Poland selling fewer mortgages in 2011, down 49%


OP peterweg 37 | 2,321
2 Dec 2011 #271
So the figures published would have to be a guess.

No, they are accurate for what they measure. The rest of the hidden wealth would be a guess, but if its in paper, Polish, money they can count that accurately as they know the amount in circulation. What you can't know is the amount in foreign currency, gold etc, that's where your guesswork comes in. The 60% figure is guesswork, those people probably don't use banks becuase them are penniless, an equally valid guess.
Avalon 4 | 1,068
2 Dec 2011 #272
The 60% figure is guesswork

This figure is stated by the banks. If you are not going to believe them on this then why would you believe the figure of 1 trillion złoty?. You are being pedantic, as you yourself state, you have no idea what other currencies, gold, valuables are being held, neither does the government.
cms 9 | 1,271
2 Dec 2011 #273
The figure given by the banks in 70 percent which is much more believable ( these are nbp figures). 40 percent was 10 years ago.

And of the remaining 30 percent they are from the poorest sections of the population and I don't think they are sitting on vast amounts of undisclosed wealth.
milky 13 | 1,657
7 Dec 2011 #274
The vast majority of Poles abroad seem to be staying where the are,so would this not point to real estate prices remaining high. There was talk and speculation that they were returning home,but this seems to be untrue in reality.
Wroclaw 44 | 5,387
7 Dec 2011 #275
There was talk and speculation that they were returning home,but this seems to be untrue in reality.

i know of plenty who left and few who have returned.
wielki pan 2 | 250
8 Dec 2011 #277
The vast majority of Poles abroad seem to be staying where the are,so would this not point to real estate prices remaining high. There was talk and speculation that they were returning home,but this seems to be untrue in reality.

Milky, If you were to believe reports from the UK that their economy is not looking good, I think many, many poles will be returning home..unfortunately in Poland, like other countries in the EU, they will experience a future shock in lay terms a king hit as Europe falls into recession. Its not looking good....the golden rule now applies don't fall into debt..
Wedle 16 | 496
8 Dec 2011 #278
If you were to believe reports from the UK that their economy is not looking good

youtu.be/1_NgpZE0Im8

This is a very interesting video to watch it just tell it how it is,its very likely Europe and the UK will head into recession next year.
beliall - | 25
8 Dec 2011 #279
The figure given by the banks in 70 percent which is much more believable ( these are nbp figures). 40 percent was 10 years ago.

I live 35 KM outside of Warszawa i have to drive 10 km in any direction through at least 5 villiages to get to an ATM machine, if i count up the population there which are mainly old people there would be around 5000 in surrounding villages without access to a bank this is one area so take the rest of Poland and the figure is around 40-50%

I believe civil servants were made to have a bank account only a couple of years ago
teflcat 5 | 1,032
8 Dec 2011 #280
End of the day trust people's addictions, I bought Philip Morris during the 2008 crisis and if we have another crash I'll double or triple my investment - even the freezing cold doesn't stop the smokers from smoking. Sure they have no problem renting - but somehow they always find the money to buy cigarettes.

I welcome all suggestions, what to do with $100,000 today (investing in any currency).

Despite various agreements to restrict their use, landmines are still being deployed. You could make a killing there. How about small caliber handguns in the U.S. market?

You could always invest in street pharmaceuticals. Of course, you'd need a good front in order for you to distance yourself from the end user as much as possible.
Wedle 16 | 496
8 Dec 2011 #281
without access to a bank

The old people have their pensions delivered in cash by the Postman.

I live 35 KM outside of Warszawa i have to drive 10 km in any direction through at least 5 villiages to get to an ATM machine

35 KM from the center of Warsaw or 35 KM from the border of Warsaw, most places I know of which are 35KM from the center of Warsaw would have some facility even if it was cash back in a supermarket or petrol station.

You could make a killing there

Literally, how could you sleep at night supporting such activities.
beliall - | 25
8 Dec 2011 #282
Literally, how could you sleep at night supporting such activities.

APAP NOC?
Avalon 4 | 1,068
27 Jun 2012 #284
But I should point out that I believe the Germans are already considering Eurobonds despite official denials.

I love this post from last November. Now for the reality:-

Angela Merkel rules out eurobonds for 'as long as I live'

Angela Merkel has firmly rejected the use of eurobonds ahead of a crucial summit in Brussels this week, ruling out jointly guaranteed eurozone debt for "as long as I live".

Man makes plans and the Gods laugh.
milky 13 | 1,657
27 Jun 2012 #285
'as long as I live'

looks like she plans to be a dictator so.


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