Reply to: Some nice comforting doom

[milanbenes]

crikey you little gold expert

have you heard about the gold short ?

anyway, I hope is does drop 30% will also pile in

but based upon information in the public domain do not see it happening

various central banks it is said are pending increasing their holdings

gold producers have bought back their hedges

but let's see eh

Milan.

[DimPrawn]

'A 20 or 30% drop in gold could happen any day now and I'll be piling in on any falls.'


how you know that ?

Milan.

Because a lot of (speculative, printed) money has piled into gold, and if we see some big defaults and crashes, these people, organisations and governments are going to cash in a large chunk of gold, take profits, and the gold market will fall for a short period.

[milanbenes]

'A 20 or 30% drop in gold could happen any day now and I'll be piling in on any falls.'


how you know that ?

Milan.

[DimPrawn]

Gold and foreign shares maybe !? But, for an aspiring mansion dweller and BTL king I'd stick with some cash. When we do finally have the real recession, in other words with a currency panic and high interest rates then you'll be quids in and can mop up oodles of cheap property.

ps. loads of the FTSE 100 Co's derive a good chunk of their income overseas

Indeed, I am still taking the gamble and holding a lot of sterling in UK banks. Not interested myself in BTL, only in securing Prawn Towers at a good price next year or the year after.

Buying more gold only on dips. A 20 or 30% drop in gold could happen any day now and I'll be piling in on any falls.

[rootsnall]

Good question. Buy property, buy gold, buy foreign shares and bonds, pray?

Gold and foreign shares maybe !? But, for an aspiring mansion dweller and BTL king I'd stick with some cash. When we do finally have the real recession, in other words with a currency panic and high interest rates then you'll be quids in and can mop up oodles of cheap property.

ps. loads of the FTSE 100 Co's derive a good chunk of their income overseas

[DimPrawn]

Perhaps it's best to diversify, a bit of gold, shares, property, ect. That way you are only guaranteed to lose money.

I think in your case, stick to a savings account or two.

[TimberWolf]

Perhaps it's best to diversify, a bit of gold, shares, property, ect. That way you are only guaranteed to lose money.

[threaded]

I don't know enough to make a decision.

One of the arts of management is making a decision based on no knowledge.

[DimPrawn]

TW,

more and more I get the feeling, you are not a decision maker.



this appears to be the classic iceberg situation.

Makes for a fantastic spectator sport.


Milan.

WHS.

You either feel the world is ending or it isn't. If you feel it isn't, just spread your savings around a few high interes UK bank accounts and relax.

[TimberWolf]

TW,

more and more I get the feeling, you are not a decision maker.



this appears to be the classic iceberg situation.

Makes for a fantastic spectator sport.


Milan.

I don't know enough to make a decision.

[milanbenes]

TW,

more and more I get the feeling, you are not a decision maker.



this appears to be the classic iceberg situation.

Makes for a fantastic spectator sport.


Milan.

[TimberWolf]

So lets see. You are worried you are going to lose all your money, but then again you might be wrong and make 10p more in interest by doing nothing.

I think one concern is that the Sterling may only drop say 10% next year, followed by a long slow decline. You won't earn interest on gold in that time either.

[DimPrawn]

How safe is money put into a Euro (or other currency) denominated account, e.g. with HSBC? And do they pay interest? - if it's sat there for years, you might lose more than if you had it in a Sterling account paying tiny interest?

So lets see. You are worried you are going to lose all your money, but then again you might be wrong and make 10p more in interest by doing nothing.

[TimberWolf]

How safe is money put into a Euro (or other currency) denominated account, e.g. with HSBC? And do they pay interest? - if it's sat there for years, you might lose more than if you had it in a Sterling account paying tiny interest?

[Andy2]

Good question. Buy property, buy gold, buy foreign shares and bonds, pray?

I am an atheist but out of all these I will choose pray