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Question for Economics Experts - riding out the current storm
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I love the fact (not literally) that Britain sold off most of its oil at $10-$20 a barrel and now is not only a net oil importer but also has dwindling production and will have to effectively buy it back at $150+Comment
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Originally posted by bobhope View PostI love the fact (not literally) that Britain sold off most of its oil at $10-$20 a barrel and now is not only a net oil importer but also has dwindling production and will have to effectively buy it back at $150+my ferret is your ferretComment
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The principle I work on is only to invest in things I understand - which is very little when it comes to finance. In fact the only things I understand are cash and property.
So we sold the house earlier this year and are now renting. Everything is now in cash in high interest accounts. I'm really only interested in how much sterling cash I've got when it comes round to buying a house when the housing market looks like it's near the bottom. So moving into Euros, gold, oil, tin foil hats would only be a bet that they will go up in value in sterling terms. It might be a good bet, but I just don't understand it well enough so I'll stick with cash. Other investments might do better, but they might do worse, and I guess I'm pretty cautious. There's a risk that inflation will eat away at it, but as long as savings rates keep up with inflation, and house prices continue to go down, and I continue to bill, then I should be OK.Comment
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Well done on selling OG, we did the same and have been renting since November.
The worry with keeping it all in sterling is wage inflation may kick in (the Gov have said they don't want it so means it will happen) this could keep house prices relatively high and erode the "value" of your pot of sterling.
I am the same as you though, all in high interest account (you thought about 6 or 12 month bonds?), ISAs maxed out (don't forget about them) and am only thinking of Gold to get rid of some cash as I am not married so cannot transfer my half of the house sale to Mrs Ferret and could do without the interest as means I cannot take as much out of the company as usual, don't want to be paying 40% tax at all if it can be helped...
So figure 10% of my cash (5% of our total pot) in gold and silver will not hurt. Looks like up 3% again so far today too.my ferret is your ferretComment
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Much the same as you two. Don't trust commodities - they are going through as artificial a boom as house prices were at the mo. Shares falling again today.
In the long term property (especially london) on a crowded island will always be a good bet. Gold will rise and fall but generally is a safe haven. Cash, ISAs are all I do. Halifax has an account with 10% AER.Hard Brexit now!
#prayfornodealComment
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Originally posted by sasguru View PostHalifax has an account with 10% AER.my ferret is your ferretComment
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Originally posted by ferret View PostWill be opening one each for me and the Mrs when I have my lunch in a mo. This is the £500 a month one? Every little helpsHard Brexit now!
#prayfornodealComment
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Originally posted by ferret View PostWell done on selling OG, we did the same and have been renting since November.Comment
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