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House Price Crash Forum

RUSARTNET

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About RUSARTNET

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  1. If you are under the 85k government guarantee scheme I should get some sleep I am, but I don't trust ANY government guarantee. Look at Cyprus. You could diversify into other currencies using a service like currency fair (which is not guaranteed. Done that already. Are you looking for high yield./returns or safety? Safety. I don't like risks .... and don't believe there are any high yields anymore (except if you are a too-big-too-jail bank getting free money from the central bank).
  2. I have invested in some physical gold and silver, but don't really want to buy any more, as I am over 50% in precious metals as it is. I stil have some cash, which I am not comfortable with sitting in a bank - because I am an unsecured creditor and because I hate the idea that I am doing the bank a service by contributing to their capital requirements even in the tiniest way! I am looking for ways to be as liquid as cash, but do not want to get into the stock exchange, which I think is ready to cash. The only other thing I can think of is investing in bonds, possibly German government bonds. Does anyone here invest in bonds and can they contribute any pros and cons about owning bonds?
  3. Thanks. First Direct might be good, except that they are in sterling, and everything I do is in Euro... I really need a full bank account, cos I also need to receive money (payment for work) as well as pay out (train and plane tickets are really the only thing - otherwise I generally just withdraw cash and use that...).
  4. I spend most of my time knocking about Europe, where a British citizen can live without problems because of the open borders. I am self-employed, which is good because it gives me freedom, but it also means a lack of documentation that TPTB seem to assume people always have. I opened a bank account in one European country (Czech Republic), but now I live in Italy. There may be a problem, because you are really supposed to have resident status for the Czech account, and I am worried some problems might start. But in Italy my landlord cannot register me, so I cannot get apply for the fiscal cards needed to open a bank account. Plus, I may be moving onto Germany next summer anyway.... Can anyone recommend a sort of internet bank account, preferably in euros, that would be good for someone who does not really have residential status anywhere and moves about? Or at least another bank that might not care so much, although my first thought was "internet banking" (where everything is done over the web anyway). I just want an account where I can keep my cash and have a debit card to withdraw from ATMs and buy some stuff over the internet (Visa/Mastercard).
  5. I do not know if this is relevant, but I will post it here as I have not found a better thread... I have started salting money away into PMs, withdrawing in stages from my bank account (Citi). I know that if I make a transfer at 4 pm, it will be through a midday in the next place by midday the next day but one. But today, when I made the transfer at 3 pm, I was told that "sorry, this transaction will only be made tomorrow, do you still want to go ahead?" (I said "yes"). Also, for the first time as far as I can see, a note has appeared on the screen about limitations on the sizes that can be sent at one go. I fit into that size, but only because I have Citigold status. I have noted the rumours about Chase Morgan limiting movements, talk of EU banks imposing a "wealth tax". I do not think there is anything necessarily impending right this month, but I think it pays to think ahead, should controls be introduced - as I think they must be eventually be...
  6. Yes, you are right - I used to be in CHF a while ago, it always nicely appreciated against the euro as well, until they almost reached parity and the central bank decided to draw a line at 1 EUR = 1.20 CHF. Mind you, then you look at all the debt of the Swiss banks...
  7. Actually, it is complicated, most of my cash is in Japanese yen right now, because of foreign earnings. I do not live in the UK. In the past, I have been happy to stay in yen, but I think the Japanese central bank is prepared to commit senseless hari-kari with their currency. The yen has already dropped much in relation to the euro over the past 9 months - and I think it may drop even more. I am just not sure what the Germans think of this policy, though, and what EUR/JPY exchange rate they are happy with...
  8. The reason I ask is because I am in the Eurozone right now, do not keep my savings in Euro at the moment, but plan to do so, hopefully in able to just leave them in Euro and forget about it. But it seems that every central bank takes it in turn to announce some form of easing or currency control/manipulation (USA, UK, Swiss, Japan), making it look as if it would be the turn of the ECB next.... so I do not want to move into Euro and immediately see it go down too against the other currencies. Also, when there is a financial crisis, there is a tendency to flee the Euro and also drive it down (personally, I do not think there will be a crisis soon, I think central banks will think up more and more devious ways to paper over the cracks, like a desperate clerk who has stolen from the till and needs to cook the books).
  9. What I cannot quite understand is that why the other central banks (US, UK, Japan in particular) are printing money as if it is going out of fashion, the EU is not doing so quite to the same extent. Also, Germany would never allow it - obviously it wants its currency to be cheap, as it is an exporter, but they have an historical fear of inflation because of their experience in the 1920s. Can anyone tell me what the EU is doing to make the Euro more or less hold up against the other currencies (of course, it is relatively strong right now against the yen and dollar)?
  10. It's Malev, which I think is quite big news! A lot of bad news coming out of Hungary - might it be like Austria in 1931, the one that tipped the scales???
  11. We know that the banks are bankrupt, while much the same can be said for many Western economies. What should we expect to happen first? In theory, a state should be able to sell off its future citizens' labour, so should never really go under, unlike a bank. But then nations are people, while banks are essential vehicles in the ponzi money/wealth transfer scheme, and we all know what is more important in the grand order of things - people or money.... So it would make sense for those in charge not to let the banks go under. So when the whole system begins to unravel and collapse, what should we see first - banks going under, bringing down states? Or the other way round - allowing the weaker, indebted countries to collapse to avoid the bankers losing any money and an end to the merry-go-round?
  12. I call the first Monday of the New Year, probably 9 January.
  13. We have a saying. Never trust a Campbell - and it's honestly true!
  14. I see the comments are disabled, to stop the paper being inundated with abusive messages!
  15. That is true. But everything else will make you poorer if you buy and hold it. And at least it is metal, which has more practial uses than paper (use to start a fire? toilet paper? wallpaper?). Gold can never be entirely worthless - unlike, for example, UK banking shares.
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