Thoughts on Finance, Current Affairs and General Consumer Ripoffs - Damn Lies and Statistics

The FCA have announced action today to stop mini bonds being sold to retail investors and only to high net worth individuals. Strangely enough I thought that was already the case and those buying the likes of LCF bonds had certified that they were eligible. https://www.fca.org.uk/publications/temporary-product-interventions/temporary-intervention-marketing-speculative-mini-bonds-retail-investors The rules that they have brought in seem to be fairly lax and could let some of the current players continue to operate. It appears that Buy2Let cars for example would be allowed to continue because they are promoting their own business despite falling under the same scenario of underplaying the risks to capital that mini bond companies do. So the FCA are making a small step in the right direction but it remains to be seen whether some of those involved in the mini bond market who don't tend to follow the rules anyway take much notice of the new requirements. Let's hope we...

Buy2Let Cars are running various investment seminars to attract new investors. If you are considering an investment with them and wondering if it is a scam it's worth remembering that the investment has the potential to lose ALL your money as investors in London Capital and Finance are finding out to their cost.  This isn't to suggest that Buy2Let cars are doing anything illegal but the potential to lose all your money is possible for all unregulated bond schemes. There is a full review of Buy2Let Cars on the BondReview website which gives all the information that will help you make a decision but this is NOT a risk free investment and is not covered by FSCS. https://bondreview.co.uk/2018/06/28/buy-2-let-cars-unregulated-investment-in-rented-cars-offering-7-11-per-annum/ The cars apparently funded by these bonds are to people with very poor credit who cannot access elsewhere. Not exactly a low risk proposition! https://wheels4sure.com/bad-credit-car-leasing/

A website called UK Models is once again using Google adverts to sell their modelling portfolio services by giving the impression that they are a model agency and can give assessments of modelling potential. UK Models - Is it a Modelling Agency Portfolio Scam? UK models are not a modelling agency. They are a front for photographic studios, previously Blue Rooms/Pure Space studios in London that sell expensive portfolios to wanna-be models. You do not need to buy a portfolio to approach modelling agencies. Although the UK Models website does say that they are not a model agency they also then use the words "Apply Now", "Submit your application" which imply that you are applying to them for something. UK Models are a photo studio selling portfolio shoots at high prices - that's their business. You don't need to apply to shop at Tesco and you don't need to apply to a photo studio to pay them large amounts of money to have a photo shoot. Every...

Reports from unhappy investors are suggesting that Blackmore Bond Interest payments have been delayed again. This is now the second time in a row that investors have not been paid their quarterly bond coupon interest and this time a different reason has been given. This time investors have been told in advance by Blackmore Bond that the interest payment due on 31st October will be delayed until 29th November allegedly due to an unnamed development not completing on time. Blackmore Bond Interest Delayed Again Investors are likely to be hoping that this isn't a precursor to Blackmore Bond being unable to repay the capital that becomes due on their bonds in 2020. More details from the Evening Standard here https://www.standard.co.uk/business/blackmore-delays-dividend-payment-to-thousands-a4273341.html

After picking up a friend's car with wrecked engine I've been selling lots of car parts on eBay. All has generally gone well and I've more than covered the cost of the car but the biggest problem and hassle has been eBay Global Shipping programme. When selling on eBay I tend to only sell to the UK, it's much simpler and avoids the hassle of international postage. However when selling car parts I often used the eBay mobile app to list items as it meant I could take photos and instantly list them without needing to upload to my computer. The big, big problem with the eBay mobile app is that it turns on the Global Shipping option by default. What a disaster! I've only had 2 items selling via GSP but both of them have been a nightmare! eBay Global Shipping Program Problems  One item was bought by someone in Italy. All shipped fine and delivered ok but when the buyer tried the part they found it wasn't suitable for a left hand drive car. In the circumstance...

Has Boris Johnson's outsmarted by MPs and been too clever for his own good? By preventing the government from rushing headlong into a no deal situation MPs have narrowed down Boris Johnson's options but he has now boxed himself in by proroguing parliament which limits the time available to pass legislation that could enable a General Election. The government's attempt to call a General Election via the Fixed Term Parliament Act has failed so other options would be needed but by suspending parliament next week there is unlikely to be sufficient time to do so beforehand meaning an election on 15th October could now be unlikely. Boris Skewered By His Strategy Backfiring? It's an unusual situation with the government wanting to call an election but as the government has no majority with the date entirely now in the control of the opposition who could wait until the most opportune time. Sacking so many Conservative MPs having already lost your majority, proroguin...

With the announcement this week that Boris Johnson was proroguing parliament with a new Queen's Speech on 14th October there was one element that seems to have been missed from the discussion about the implications. Theresa May's government brought the Withdrawal Agreement to Parliament where it was rejected 3 times and due to a ruling by the Speaker could not be brought back again for a further vote in that session. I've not seen any mention on the major news channels that the prorogation of Parliament means that a new session begins and with it the opportunity to bring back the Withdrawal agreement for a final time. Despite his current claims of dissatisfaction over the agreement Boris Johnson has previously voted for it so can't be that dead set against it. I suspect that one strategy he may be looking to follow could be to give MPs a final decision between the existing Withdrawal Agreement and leaving with No Deal with the deadline days away piling on the p...