Euro drops, pounds plummets below $1.48 for first time since May

StevieJ

StevieJ wrote: »

Spain and the other PIIGS can only look on in envy

"It has a high deficit, however the UK has a certain ability to adjust and markets are starting to recognise that. Unlike Greece, the UK has more than fiscal policy to adjust. Adjustment process is easier than when you have only one policy," El-Erian, who is also co-chief investment officer at PIMCO, told a briefing in London.

http://uk.finance.yahoo.com/news/uk-deficit-adjustment-easier-than-greece-pimco-reuters_molt-a358ffff6633.html?x=0

DiggerUK

amcluesent wrote: »

........Funny how the BBC never mention that Clown has already lost you 25% of your savings as the £ has slumped.........

When I compare my gold bought at an average 550 per oz, with the current price kissing 750 per ounce, my calculator does not come up with a 25% loss in my savings.

Do I need to change my calculator?

ses6jwg

I dont get all this doomsday scenario nonsense getting muddled up with gold?

Ok, Gold can be a good investment and a hedge against currency fluctuations, I get it.

But can anyone explain to me how hoarding gold will benefit you should the whole system come crashing down and society reverts to the stone age?

Surely in such a case purchasing a shotgun, ammunition and plenty of tinned rice pudding would be a more appropriate "investment".

I wish this scaremongering would cease.

chucky

ses6jwg wrote: »

I dont get all this doomsday scenario nonsense getting muddled up with gold?

Ok, Gold can be a good investment and a hedge against currency fluctuations, I get it.

But can anyone explain to me how hoarding gold will benefit you should the whole system come crashing down and society reverts to the stone age?

Surely in such a case purchasing a shotgun, ammunition and plenty of tinned rice pudding would be a more appropriate "investment".

I wish this scaremongering would cease.

you are right of course but if the scaremongering stopped we would lose 80% of the users on this forum and these people would have to interact with the real world and real people.

society is a better place having them on here

Really2

ses6jwg wrote: »

But can anyone explain to me how hoarding gold will benefit you should the whole system come crashing down and society reverts to the stone age?

£1M of gold should get you a slice of bread.

You may be better of investing in food and water if you thought society was going to go down the pan.

But in reality they know it wont so pray on the stupid and ramp gold so they can take maximum profit.:)

DiggerUK

ses6jwg wrote: »

...... But can anyone explain to me how hoarding gold will benefit you should the whole system come crashing down and society reverts to the stone age?......

It won't.
But if the world as we know it is changing, not ending, it's the smart play.
You have a choice about what you hold, funny money, or gold.

Really2

DiggerUK wrote: »

It won't.
But if the world as we know it is changing, not ending, it's the smart play.

Not that I would do this but would the smart play not be buying loads of assets on credit waiting for the financial collapse and hey presto lots of assets and no one to pay back?
(I presume the collapse would be so bad no one would be buying debts in such a world changing event, new world and all that.)

No responsible at all but if you could see it happening why spend your own money?

Also how many people actually hold their own gold in a safe in their house, not on paper. Because surely in a collapse paper gold would also be worthless as currency

LisbonLaura

But bretheren, look at your house prices. No more boom & bust the man said & he has delivered.
Your savings have been trashed, & soon the currency will collapse, but house prices will stay in (worthless) lulu land.

Tip: start saving for the heating costs, & vote for the man who sold 58% of the nation's gold on instructions from Goldman Sachs. The majority seem to deserve him!

This acid post was inspired by the cretinous posts of one Hamish McTavish. It's that or lose the will to live.

££££££££££££££££££££££££££££

DiggerUK

Really2 wrote: »

......Because surely in a collapse paper gold would also be worthless as currency

Since medieval goldsmiths first issued paper for gold deposited in their safes, there have been bankers on the fiddle with paper gold.
There may, or may not, be paper gold merchants on the fiddle today. You pays your money and you takes your chance.
If the gold to back the paper is there, no problem. Otherwise.:mad:

DiggerUK

LisbonLaura wrote: »

......the man who sold 58% of the nation's gold on instructions from Goldman Sachs. The majority seem to deserve him......

Gordon Brown, as Chancellor, would do nothing without the knowledge, agreement or orders of the Prime Minister. No Chancellor would dare.
If Bliar had not wished it to happen then it would not have happened. Any Chancellor who took that kind of decision without the bosses approval would be out before it happened.
It was Tony Blair what done it, in the cabinet room, with a bullion bar.