Stop Buying Gold!!!

[Deleted User]

Gold is only a good investment in the run up to a disaster, now we are in a disaster its the worst investment you could make. Wait 5 years now before you have the urge again.

Also for the sake of the country take the 1 billion pound you have under your mattresses and pop it into your British bank (50K limits providing for the ultra paranoid - with the rest you can buy government bonds).

Your local businesses DONT LIKE their overdrafts being called in OVERNIGHT!

Stop going abroad instead head for a cabin in the lakes and where possible buy British goods, the pound is tanking and your not helping. Good old fashioned British carrots, potatoes and lamb. No more French Red wine, drink British brewed beer and cider. Stop buying your BMWs cars and start buying Morgans and Caterhams. No more uncle sam burgers, try instead JD Whetherspoons Burger, Chips and Beer. No more costa coffee and Starbucks, head to your local cafe owner.

Your Country needs you! :beer:

mark99

Good post.


Pull together.

Mark

IT_nerd

Buy Caterhams? What are you on?
There isn't even a decent practical car maker that's british any more..

Also, it seems people talk of gold like they used to talk of houses. It should be fun to see what happens.

Sandieflowers

First class post, I had wondered what had happend to the 'BUY BRITISH' slogan. Our industry and retail sectors are failing, it is our neighbours and our families jobs that we are risking by buying outside the UK.

evenasus

Yant1 wrote: »

Your Country needs you! :beer:

Agree wholeheartedly. I always do my best to buy British - bank British - save power etc -recycle everything I can, even to taking the paper labels of cans and glass bottles to put in the paper recycling sack.

[Deleted User]

When speculators destroy your currency we need to prove to the markets we need £s more then we need Euros, Dollars and Yuan. Or at least try are best otherwise the market destroys you like it destroyed Iceland.

If that happens we could be forced into the Euro at a terrible rate, transferring a lot of wealth to Europe that could take us 40 years of hard work to build up again.

itsmickdundee

The problem with "buying British" is that most of the things you are buying are imported anyway.

I didn't realise Morgan had a new popular family runabout. Did they buy the steel, aluminium and rubber for the build from Daffyds mine and tree plantation in the Brecon Beacons or did he speak with Sanjit over in India and Raffael in Brazil?

Bob's Cafe Shop down the road didn't buy his coffe beans from Mildred's five hectare greenhouse three miles out of town - he probably spoke with Miguel over in Columbia.

JD Weatherspoon most likely overlooked farmer Giles West Country cows for Pedro's finest in Argentina.

I could go on. But what you must understand is that our interlinked economies are strengthened by trade and weakened by domicile-heavy trade.

We are a services country. This is why the current financial situation is a little precarious for the UK.

So it's all well and good for us UK consumers to keep our spending within the confines of our country, but why not start from the businesses themselves rather than from the consumer? Start at the root, not the stem. Are they not damaging the economic cycle with cheap imports as much as the consumers are by sending their £'s to foreign lands?

I somehow think so... But then it's all irrelevant anyway - it's not like we can start growing enough food, re-igniting industry and god knows what else literally over night. Let's hope things begin to change otherwise we might turn into an even bigger disaster than Iceland...

jon3001

Yant1 wrote: »

Gold is only a good investment in the run up to a disaster, now we are in a disaster its the worst investment you could make.

Let's get this back on topic (Savings & Investing). Why is gold now the worst investment that one could make? Are there any others that could be worse?

You mention government bonds - historically these haven't done well in times of high inflation. Expect a lot of new issues (in an environment of decreasing interest rates) as the government implements its 'spend-our-way out of a recession' plans. With Sterling tanking and the country in a recession what kind of appetite is there going to be for these?

Yant1 wrote: »

Wait 5 years now before you have the urge again.

What happens is five years?

itsmickdundee

jon3001 wrote: »

........


What happens is five years?

Skynet goes online. If you want further information, I have detailed files.

[Deleted User]

Where raw resources are sourced abroad but you buy a UK built item eg say a Lotus Elise, £3000 might go to south africa for the steel and glass fibre, but £18000 goes to the British intelligence that designed and assembled said item. Buy a Merc and £50,000 goes to Germany which is making them a goldmine of Euros right now and decreasing the buying power of the pound.

The best you can do is try to shop intelligently. In the words of British Tescos "Every little helps", in the words of American Asda "Who do you think you are kidding Mr Hitler". Who do they think they are kidding?

jon3001

IT_nerd wrote: »

Also, it seems people talk of gold like they used to talk of houses. It should be fun to see what happens.

Which people? I don't really see it. Sure - there are a few on this board who discuss it. But there are whole heavily trafficked boards, both on these forums and elsewhere dedicated to house prices.

I'm sure most of the homeowners at your place of work have an opinion on the value of their property. How many have an idea of what gold is trading at?