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About sylvester

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    HPC Newbie
  1. I am thinking of buying shares in a clay mine in East Anglia. Do you think it is wise or should I keep to 'physical'?
  2. Sssssh, Charlie, don't mention the 'G' word... Oh and it's 'maths' not math BTW
  3. Hi, yes , of course it could fall and we only have about 15% of our funds in Gold. I was merely summing up all I have read here and elsewhere (and I have looked around a lot) and in my opinion I think Gold will only maintain or go up in value in the next 12 months. And of course by value I mean how many oz's of the shiny stuff can buy me something useful. The rest of our funds are in cash spread between the UK (for the safety net that the government backed deposit insurance scheme covers, for what its worth) and NZ for the very nice 8.6% interest rate we are getting. Thanks for the concern though! And now I have come back in to read the gold thread, it is a bit of a pain having to hunt for it in a minor league sub-forum. It also means I won't be reading the main forum anywhere near as much as by far the most useful information has always been here. If we can get gold over $1000 can we come back to the main forum please, sirs?
  4. Hi mods, As a relative newbie here, I would never have found the gold thread if it had been on the metal pages as I would never have thought of buying PM's to 'protect myself'. Due to emigration we found ourselves as STR's through fluke rather than planning. Now having read all the great posts on HPC we are very glad to be out of the market at what looks like the best point to be sitting back and renting. We have now invested in gold and I think it will go one of two ways. Either not a lot will happen, status quo will resume and we'll sell for about what we bought for at some time in the future or gold will shoot off and we'll be richer than Branson. Either way, I just wanted to say thanks to the goldbugs and HPC for having this thread as I think it has helped us make one of the most important financial decisions ever. But we would never have thought about buying gold to protect our life savings and future house purchase money if the gold thread had not been in the main forum. Cheers Sylvester
  5. Didn't feel a thing and we are on 4 fault lines....
  6. Hi Steve, Well I have done the deal with Michael (or Michael, I'm not sure which) and money has exchanged hands. The storage at the mint seems expensive (2% of total value per year) so I have looked into vaults here. No problem with the vault itself ($200 per year) but I would also like insurance on the stuff too. Do you have any recommendations for an insurance broker or know of any? I have had a google but it doesn't give me any answers. I have asked the vault for a recommendation but not sure if they'll know of anyone. Also, our contents insurance doesn't cover it (not really surpised there!). Cheers
  7. European stocks are under pressure amid fears that the biggest US rate cut for 25 years will not help growth. http://news.bbc.co.uk/2/hi/business/7203966.stm
  8. I've just been looking at the NZ Mint. Do you know if they are happy to advise on the best deal (i.e. coins vs bullion) for a quantity of money or do they leave that up to you? I think I'd leave it with them in allocated storage, if I had them at home I'd forget them when we moved... Now I just have to decide how much to spend
  9. Cheers dude, lots of great info there. I did some more checking the other night and found the link on the reserve banks site that talks about the lack of deposit insurance (and why that isn't really a problem at all!). Shocking, isn't it. Still at least the NZ banks have to have thier own reserves even if they are owned by the Aussies. I'll seriously look into gold tomorrow, shame I didn't about three weeks ago (or 5 years!) I'll let you know how I get on. Mark
  10. Sorry dude, been busy. I certainly see your point about spreading the risk. At the mo I have all our cash in a 1 year fixed rate ASB account and am trying to keep a careful eye on things in case I need to withdraw it is rush (should the bank look shaky). I know that in the UK there is a government savings insurance / guarentee for up to £35K of savings but don't really know what there is here. Also, although I can keep an eye on what the bank is doing in NZ, I don't know how closely it is linked to Oz. Obviously if things go bad in Oz, I don't want to suddenly find all the NZ funds going off to prop them up! I am definitely going off the idea of GBP. Just reading around the forums in the last few days and a few business papers, things certainly look bad for the UK economy. I'll wait till it's 1:1 and then exchange I'm new to having a wodge of savings. How does one get into gold? I assume it's not stuffed under the bed? Cheers
  11. Hi everyone, We sold our house (after splitting it into two flats) in Bristol early last year then emigrated to New Zealand. Managed to transfer the funds from the sale at 2.84 dollars to the pound. The rate is now nearer 2.5 so on our 100K if we move it back to the UK we will have made roughly 13K. My reasoniong for moving it back is two fold: Firstly, if we decide we don't like it here afterall then we simply have the money back in the UK at a bit of a profit. All good. Secondly, if we stay, we will not be looking to buy for about 9 months. If the recession hits the US and the UK then I can only imagine NZ will follow along shortly after (as much of the trade for NZ comes from the US and UK). I also imagine that the NZ economy will fair worse than the UK economy at that point. This points to an increaseing exchange rate for NZ dolars to pounds (i.e. we might get back up to 2.84 : 1 or even higher). Does that make any sort of sense or am I about to make myself considerably poorer? Oh for a crystal ball... Cheers
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