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Stop Buying Gold!!!
Comments
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It's going to be a lot easier to buy British when the pound collapses...0
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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?
What happens is five years?
Point one - Its dug out of the ground in Africa or somewhere, then buried somewhere else and guards are paid to stand around watching it. It has very little purpose, but is often used by speculators to con the public into paying high prices for it when they believe the sky is falling. After the sky has fell so has the price of gold as the speculators buy it back to con a new generation 20 years from now. By putting it in a UK bank you can stop the local print company closing down due to having no overdraft to meet a shortfall before his contracts are paid.
Point two - If you dont what you have wont be worth much anymore and your country gets sold on the cheap. Tesco gets taken over by some french supermarket, RBS gets taken over by JP Morgan. All of a suddern the trade balances mean your back in the 1950s working down a coal pit and spending half your salary on food, heating your house with coal you stole and struggling to pay your rent to an arab that bought your whole street for 5 dinar.
Point three, see point one.0 -
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?
It was on TV shows quite a lot. Sold as an inflation busting investment and then some... That's where I first heard about it.Savings
£14,200 with £1100 M.I.A. presumed dead.0 -
Point one - Its dug out of the ground in Africa or somewhere, then buried somewhere else and guards are paid to stand around watching it. It has very little purpose
What's your opinion on silver bullion? About 50% of silver is used in industrial applications with the rest being used in silverware, coins and investment purposes.Point two - If you dont what you have wont be worth much anymore and your country gets sold on the cheap. Tesco gets taken over by some french supermarket, RBS gets taken over by JP Morgan.
If all these companies are good enough for international investors to buy then why not the British public too? Why not buy stocks rather than stick it a bank account.All of a suddern the trade balances mean your back in the 1950s working down a coal pit and spending half your salary on food, heating your house with coal you stole and struggling to pay your rent to an arab that bought your whole street for 5 dinar.
People with real, marketable skills who have value to offer will always find a buyer for them.
How many dinars to a troy of ounce of gold?
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Savings and Investments? As previously posted by "oldmanof the sea" you can't do better than this - Mathew 6, v19-210
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What's your opinion on silver bullion? I still believe that is left to the traders that require silver for their businesses. With a possible world wide recession id say like all metals the demand will reduce over the next 2-4 years as everyone shuts up shop and theres less economic activity.
Point two the Public will happily buy shares in British company's, wait until Goldman Sachs shorts it down to zero then combined with their pension fund managers agree for it to be sold abroad with a Hamper and a gift wrap. Examples - All energy company's, about 3 British banks to santander, and British steel to India.
When a French trader loses his Bank a few Billion the French government give them the money and block all foreign takeovers. If it happends in the UK its sold along with its millions of Assets to ING for one euro.0 -
Don't buy the same blinkers as the OP.
Sorry, but we are in the global economy like it or not. We are not self sufficient in almost anything. Listen to the OP and die?In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
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:
I've been thinking this way for a while now. I am avoiding buying imported food wherever possible, and have in fact found that the quality of some British fruit especially is much better than that of imported fruit. I'm thinking of the applies I've been buying in quite good value big bags in Sainsbury's recently – the fruit is really tasty, perhaps because it is fresher than imported applies?
As for holidays in Britain – I remember from my childhood how much fun they were, even when the weather was nothing much to speak about. Long walks in the most beautiful countryside in Devon and Herefordshire, with not a person in sight, rock-pooling on the south coast... It was really fun – children do not need (or even like) very hot weather.
As an adult, I find that the British countryside is still in many places quite heavenly – we just don't appreciate it because it is familiar, perhaps...0 -
Liquidity is when you look at your investment portfolio and **** your pants0
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thats it yant1, well said :beer:0
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