Reply to: € vs £.....

[PAH]

Land is one of the best buys IMO.
Gold is all very well but that's all it is, you can't do anything with it.
Most of our money in invested in land, it's the one thing nobody is making anymore.

You can't do a lot with land, unless you get permission. So much for owning, it's more like leasing.

Is the land you own in the UK or abroad? UK land seems to be a bit pricey compared to many parts of europe. What a surprise.

[Churchill]

Aside of the current economic hilarity, is forex trading worth doing as a side thing?

As a "side thing", you will lose money. 100% certain.

However, if you go into it seriously and eat, drink and breathe forex for the same length of time as a degree, then you may become profitable.

Remember the Greeks!

[SantaClaus]

Aside of the current economic hilarity, is forex trading worth doing as a side thing?

As a "side thing", you will lose money. 100% certain.

However, if you go into it seriously and eat, drink and breathe forex for the same length of time as a degree, then you may become profitable.

[oversteer]

Aside of the current economic hilarity, is forex trading worth doing as a side thing?

[SantaClaus]

€ vs £ is a bit boring and sluggish today - could do with a bit of livening up

Maybe NY open will spice things up a bit..

Doubt it. At the moment, NY is the worst session to trade.

[Cliphead]

Land is one of the best buys IMO.

Gold is all very well but that's all it is, you can't do anything with it.

Most of our money in invested in land, it's the one thing nobody is making anymore.

Fill yer boots

[scooterscot]

Land is one of the best buys IMO.

Gold is all very well but that's all it is, you can't do anything with it.

Most of our money in invested in land, it's the one thing nobody is making anymore.

[shaunbhoy]

.

What historically causes the value of gold to crash?

Letting Gordon Brown anywhere near your reserves seems to work.

[PAH]

I can do the same with my tins of curried baked beans.

I can also have them stacked in my house with little fear of them being stolen. Hiding my wealth in plain sight.

If the yanks sell a large portion of their gold reserve* to pay off some of their debt will yours still be worth as much?

* assuming they have any, if you believe the conspiracy theory about the IMF bloke being arrested after discovering fort knox empty

[DimPrawn]

People hold paper money as it's what people selling stuff want to receive. Unless those selling stuff are going to accept gold you need to convert it back to money anyway.

What historically causes the value of gold to crash? If that scenario was likely in the near future you wouldn't be so quick to hold onto it!

What you fail to grasp is that I can buy gold with one paper currency and if that paper currency goes "pop" I can sell it into another. For example do you know how many eager buyers of gold there are in China and India. Very wealthy people that will buy my gold in whatever currency I want.

[alreadypacked]

IMO CHF is the 'safest' safe haven currency at the moment.

There's JPY as well but they're not doing too well either. If I was AP I'd be looking at the Aussie as they don't seem to be in as much carp and they have good interest rates as well. Although it's been mentioned that AUD is due a correction we'll have to see..

Lucky for me I worked some of last year and this year in Zurich, so CHF is good news for me. But I have Sterling which I should have moved but didn't, now I am thinking it's too late.

INR rate is stable against Sterling at the moment and the a paying around 7%

[PAH]

Govt buys a tree worth £1,000,000,000.

People hold paper money as it's what people selling stuff want to receive. Unless those selling stuff are going to accept gold you need to convert it back to money anyway.

What historically causes the value of gold to crash? If that scenario was likely in the near future you wouldn't be so quick to hold onto it!

[Jog On]

Gold and precious metals have always been a good hedge against a currency crisis. You cannot eat Gold but you can trade it easily for food etc. But Gold has crashed before and could do so again.

What if Spain or Italy default ? Euro will crash and Germany and France will abandon it. Anybody holding Euros would lose. Anybody who converted their Euros to USD or CHF would be in a good position.

What if you hedged with USD and US defaults ? This could happen and Euro in this instance would soar against USD and your hedge would fail.

What if UK defaulted ? GBP would crash obviously and anybody who hedged with USD would gain massively.

But who can really really predict any of those defaults ?

IMO CHF is the 'safest' safe haven currency at the moment.

There's JPY as well but they're not doing too well either. If I was AP I'd be looking at the Aussie as they don't seem to be in as much carp and they have good interest rates as well. Although it's been mentioned that AUD is due a correction we'll have to see..

[DimPrawn]

Can't be bothered to explain gold.

I look at it this way. Govt buys a tree for £1000, turns it into pulp, makes some paper and then puts some ink on it and tells me it's worth £1,000,000,000.

And I'm supposed to think gold is a bubble?

[fullyautomatix]

Gold and precious metals have always been a good hedge against a currency crisis. You cannot eat Gold but you can trade it easily for food etc. But Gold has crashed before and could do so again.

What if Spain or Italy default ? Euro will crash and Germany and France will abandon it. Anybody holding Euros would lose. Anybody who converted their Euros to USD or CHF would be in a good position.

What if you hedged with USD and US defaults ? This could happen and Euro in this instance would soar against USD and your hedge would fail.

What if UK defaulted ? GBP would crash obviously and anybody who hedged with USD would gain massively.

But who can really really predict any of those defaults ?