Reply to: Zopa

[milanbenes]

DP,

only teasing, sorry,

Milan.

[DimPrawn]

Interest bearing?

Someone on another forum says these guys pay over 2% interest (yippee) on USD currency. What do you think?

Not really bothered about the interest, just don't want to hold one single currency that may go pop and be worth zero any day soon.

As well as USD currency I'm also holding a number of US shares that look undervalued and yield on dividends more than you can get in any bank account.

[DimPrawn]

reminds me of the Britney song

'oops he did it again'....


well this is gonna be interesting to watch


who was the CUK Contributor who converted Euros to £ a matter of months before the £ devalued against the Eur ?

Milan.

Okay I'll say it again. I converted the EUR to GBP at 1.26

Euro to GBP had historically been trading at about 1.5 for years, so I got a much better deal than if I had converted earlier.

Yes, the rate is now 1.15, so I would have got a lot more by holding, but I didn't have crystal ball.

Time will tell on the USD front.

[milanbenes]

Gentlemens,

my point is

when currencies devalue, interest rates on savings will be the least of your worries

the challenge at the moment is simply wealth preservation as opposed to wealth generation

to many have lost too much through wealth generation when if they have taken the conservative approach to wealth preservation in the long term they would have won

Milan.

[TimberWolf]

I'm putting another chunk of Sterlings into USD, based on the fact that although both the USA and Britain are seriously fooked, my money is on the $ outperforming the £ in the medium to long term and if one of those is going to go kapput, it's going to be the pound.

Interest bearing?

Someone on another forum says these guys pay over 2% interest (yippee) on USD currency. What do you think?

[milanbenes]

I'm putting another chunk of Sterlings into USD, based on the fact that although both the USA and Britain are seriously fooked, my money is on the $ outperforming the £ in the medium to long term and if one of those is going to go kapput, it's going to be the pound.

reminds me of the Britney song

'oops he did it again'....


well this is gonna be interesting to watch


who was the CUK Contributor who converted Euros to £ a matter of months before the £ devalued against the Eur ?

Milan.

[milanbenes]

who says CHF and EUR track opposite of each other ?

And what does this mean,

'There is a Leylandii quality to some of your posts, though.'



Milan.

[DimPrawn]

I'm putting another chunk of Sterlings into USD, based on the fact that although both the USA and Britain are seriously fooked, my money is on the $ outperforming the £ in the medium to long term and if one of those is going to go kapput, it's going to be the pound.

[Tarquin Farquhar]

DP,

very well put



Tarkers,

I have Au, and not worried about pumping, you or I or MF cannot move the market.

Holding Au or CHF or Euro is a question of your confidence in the £

Why to split between CHF and EUR, well it just gives more of a hedge

you should know all this Dad.

Milan.

If CHF and EUR track opposite to each other, having both does not give more of a hedge. There is a Leylandii quality to some of your posts, though.

[milanbenes]

DP,

very well put



Tarkers,

I have Au, and not worried about pumping, you or I or MF cannot move the market.

Holding Au or CHF or Euro is a question of your confidence in the £

Why to split between CHF and EUR, well it just gives more of a hedge

you should know all this Dad.

Milan.

[DimPrawn]

Imagine you put "a couple of grand" into Zopa and get 8% back after tax. We'll forget about people defaulting on your loan.

We're talking about £160 interest.

Not even worth worrying/thinking about compared with what might happen in the next three years (minimum Zopa loan period is three years) wrt to inflation, currency devaluation, sovereign defualt, tax changes.

Do yourself a favour and spend it now.

PS. Best thing I did was put a large chunk of sterlings into Gold.

[Churchill]

No!

Ready when you are!

[MarillionFan]

Right. Get back to the question.

My daughter's got more concentration than you lot!

Has anyone used Zopa (yes/no) answers will get a short sharp reaction!

[Tarquin Farquhar]

MF,




the question today is......

let's say we put £1000 on zopa and (i have no idea of the interest rates) but let's say it's 5% per annum

at the end of a year you will have £1050 - tax


it is generally accepted that we are currently in a period of unknown future for the £


what if you put that £1000, split it into 3...

£333 in Euro

£333 in CHF

£333 in Au


at the end of a year will you have more GBP than simply taking a GBP + interest % investment ?


Milan.

As long as EUR and CHF track the dollar inversely (one goes up as the other goes down), what's the point of holding both?

As for Au, surely there are too many speculators in it already? Or does that include you, and any chance to pump it is good?

[MarillionFan]

Well Zopa says around 7.9%.

So lets say MB, we split into three currencies and invest all three into Zopa. What is the return?