what to do with this money

Eco_Miser

Lol_UK wrote: »

Nothing will change in 3, 5, 10 years time, except that all currencies will be worth less and gold, which has an intrinsic value will have to be more expensive.

What is the intrinsic value of gold?

You can't eat it, you can't make much out of it - jewellery, electrical contacts, mostly it just sits in vaults doing nothing.

Lol_UK wrote: »

... the only true solid asset of value that we have in the world!

What's wrong with platinum, rhodium, iridium etc?

Lol_UK_2

Eco_Miser wrote: »

What is the intrinsic value of gold?

You can't eat it, you can't make much out of it - jewellery, electrical contacts, mostly it just sits in vaults doing nothing.


What's wrong with platinum, rhodium, iridium etc?

Nothing wrong with other precious metals (except those used solely in industry might be losers)...just that gold and silver have always been the metals used as currency.
Gold is a solid, tangible asset- paper money is just that...paper.
While our paper assets shrink in value (and they will, once we print billions of pounds) gold can only increase in value...

G_M

'Spamming' is an ill-defined term, but you've been doing something pretty close to it. Endlessly banging on about it on thread after thread....
As I said before " Gold may/may not go up/down. It may be appropriate as part of a portfolio for a risk-taker. "
But you should only suggest it to posters who clearly fall into that category, not everyone who come along looking for advice irrespective of their circumstances.
Please - just excercise a bit of restraint before hitting the keyboard!

Lol_UK_2

G_M wrote: »

'Spamming' is an ill-defined term, but you've been doing something pretty close to it. Endlessly banging on about it on thread after thread....
As I said before " Gold may/may not go up/down. It may be appropriate as part of a portfolio for a risk-taker. "
But you should only suggest it to posters who clearly fall into that category, not everyone who come along looking for advice irrespective of their circumstances.
Please - just excercise a bit of restraint before hitting the keyboard!

Of course you are entitled to your opinion, and you may be right regarding my 'banging on' about gold! Yes it is my hobby horse at the moment, but for good reason. I honestly do not think it's a risky investment- in moderation.
Seems to me that having any investment/pension plan is risky right now and I don't really trust any bank or financial institution at the moment...with good reason I'd say! Thanks for your words of caution anyway...

Ron2256

Lol_UK wrote: »

Has gold ever crashed?...I mean it has gone up/down slightly but look at the 5 or 10 year gold price.

quote]

Right, If you really believe that gold never crash, you're an idiot.
If you don't beleive it then you're a troll.
You are no better than the people who said:House prices always go up, look at the 5 or 10 year House prices.

Google is your friend:
http://goldprice.org/30-year-gold-price-history.html

Lol_UK_2

Well I just looked at the 30 year gold price...and, your point is?
Yes gold has had spikes and then corrected...but looking at 1971 (when we came off the gold standard) and 2009 I see an overall increase- and granted, lots of ups and downs!
The price of gold has nothing to do with an artificially created inflationary bubble like the housing market...in fact the gold price is artificially surpressed to keep it low, so it could (and I stress could) go through it's cyclical correction quite soon and go ballistic...

http://www.youtube.com/watch?v=fdDzo5fCY3w

It might be long and boring but it is factual and informed (unlike me!)

Mikeyorks

Lol_UK wrote: »

Yes it is my hobby horse at the moment, but for good reason.

Which is? That you have an investment and wish to talk up the price in order you make a profit and others are saddled with the inevitable decline?

This is a thread about Cash ISAs, and they don't accept bullion, bars or wedding rings !!

Lol_UK_2

Mikeyorks wrote: »

Which is? That you have an investment and wish to talk up the price in order you make a profit and others are saddled with the inevitable decline?

This is a thread about Cash ISAs, and they don't accept bullion, bars or wedding rings !!

I thought the thread was- What to do with this money....my suggestion is perfectly legitimate as far as trying to safeguard an investment!
Sorry- but I think it's a cheap dig to suggest I'm trying to stiff people into buying gold...surely I'd stand to gain more if I didn't tell people about it!

trenchwars

I would think about buying 5-year index linked savings certificates. Hopefully they will offer some protection in the medium term if we see high inflation, which I think is a possibility.

The drawback is that he would have to withdraw money from his ISA, although the savings certificates are also tax-free.

Doomcow

ya know,

its knobs like this Lol_UK thats at the root of all this pish anyway.

why dont they grow up and realise that people bank in different ways and have different opinions on risk?

the point in savings is that your money is "safe" up the the 50k limit - not that it'll make loads of money - its a hold, a store so you can use is as and when you want without any worries, penalties, delays.

you say:

Lol_UK wrote:

it just happens to be my belief that instead of being continually fleeced by our appalling run banking industry, we can all do better by having something that might actually protect our savings in the coming months/years! My point about PBs is that at least there's a smaller risk that your 'investment 'won't actually disappear completely...and 10k in PBs would be part of a diversified portfolio!

but yet you dont seem to advocate a balanced potfolio - you just seem to bang on always about gold.

dont you think that different strategies for different people is acceptable?

someone who doesnt have any money in savings account is just foolish.