Friday, Jun 29, 2007
Markets fear global 'credit crunch'
Telegraph: Markets fear global 'credit crunch'
Fears of a global 'credit crunch' have engulfed markets as the sub-prime shake-out claimed yet more victims and the Bank of England Governor warned investors to 'think before you lend'.
Posted by homerjay @ 10:44 AM (44 views) Add Comment
4 Comments
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1. sold 2 rent 1 said...
This is the credit crunch that will lead to the SGD (second great depression) of 2010.
You all should have your plans in place now. Good luck.
2. mrmickey said...
What really scares me is that the only money you really have is the cash in your back pocket, your bank or the government could at the press of a button stop you from getting access to your money, might be worth stuffing some under the mattress just in case things get really nasty.
3. sold 2 rent 1 said...
mrmickey,
You make a good point.
That is why after the stocks have had their lows after a 10-20% correction this autumn I am buying gold (in Switzerland) and gold mining stocks.
4. Kaitain said...
Agree with S2R1. Buy yourself some precious metals. Not too much; just a little insurance. Buy some coins, e.g. krugerrands, or use one of the reputable online bullion accounts such as James Turk's GoldMoney. Or invest in some mining stocks...riskier in some ways, but easier to own and leveraged advantageously if the price of gold and silver do rise, which I'm obviously betting they will. I have about 20% of my assets in gold/silver right now. And I'm running down my holdings of Sterling as it's not the best-positioned currency right now (the Yen, Euro and Swiss Franc are much better bets...maybe the Australian dollar and Canadian dollar as well).