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House Price Crash Forum


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Everything posted by Gwailo

  1. Correct! Which is why the price of Gold is going ever higher - they can't print Gold you see. It now makes a lot of sense to start moving cash into Gold - you'll at least 'preserve' some of your wealth. Good luck.
  2. Mate, 1. I am 'about' 5% in Gold (as a total of my liquid assests - not including property), I am also about 12,00 Quid invested in a 'World Gold Fund, which is a Unit Trust arrangement. Gold is not my only source of savings - I am heavy on Cash (Sterling off-shore accounts) and Commodities (again Unit Trusts Funds). 2. I am buying Gold to protect myself from higher inflation - nothing more. 3. I would recommend you hold at least 'some Gold bullion' - if only for peace of mind - say a few thousand Quid. Frankly speaking onbody on this forum really knows where the Gold price is heading - some have a better idea than others of course - and Dr.B has made some accurate calls in the past. Why don't you just buy a little & then watch for a while - then a bit more etc......
  3. I know everyone bangs on about Gold - and its recent performance is obviously not to be ignored, but I'd love a few Gold bugs on here to take into account the sort of interest rates that are possible on savings using the above scheme when they comment. Actually, while Gold could be seen as speculative and therefore "risky", I wonder what people really think about the viability of cash at at least 4.5% NET (i.e. the base rate) over several years, compared to the "got to get the timing right" buying of /speculation on Gold? Would my losses as a cash saver be really that significant ? Would I really get "screwed" in real tearms, given that Gold only performs "well" in an inflationary/deflationary market so I could expect interest rates to increase over the same period (increased savings interest and compressed house prices)? When people say that anyone with cash savings will be screwed, do they mean "with respect to Gold" or because the ratio of house selling prices to money saved won't correct that far ? I'd like some reference to the above "at least the base rate NET" achievement of interest, compounded over the many years of mayhem we expect... Serious discussion / analysis duly welcome. You raise some good points about 'cash savings' as compared to 'Gold speculation' - I do both! The only potential downside with cash savings is the risk of inflation, (which is an increase in the amount of money) - which by most accounts is far higher that the official (2%) rate mentioned by the Government. Gold on the other hand is indeed quite risky - but does offer more protection than cash in an ibflationary environment. I duno which one is best - so actually save cash (off-shore of course) and speculate with Gold.
  4. The problem is that - nobody here can really answer the question. I doubt you'll get the 'truth' off this forum and indeed even the Government don't always know which way currency markets are going to move - far too fluid you see, my guess it is currency speculation is more of an art than a science. Why don't you just watch the market for a few days & then 'strike' when you think you can get the best Euro rate. Good luck with your job interview! Cheers.
  5. I am no Economist - but here are my views:- Say 2 years ago a can of Coke cost you 10 Zim Dollars. Today the same can of coke costs say 10,000 Zim Dollars. Therefore if you purchased 10 Zim Dollars two years ago - you are now considerably worse off - in terms of the purchasing power of your Zim Dollars. It might be best to avoid investing in Zim Dollars. However, I might be wrong?
  6. I have been buying Silver bullion (and Gold) for some time now. Obviously I don't live in the UK anymore - left years ago, and here in Hong Kong Silver there is no VAT or GST on PMs - which is nice of course. Whilst I can buy Silver coins from the local coin dealers - I also buy from the US via the internet and they post the Silver without stating the contents on the package - they just state 'Numismatics' or something like that. The question have is this - once you come to sell your Silver in the future, (hopefully it will worth a lot more), will you need to also charge VAT and pass this on to HM Customs? Madness eh?
  7. I personally think Gold will be back up to US $560 within a few short weeks - hopefully! Regards.
  8. I see you have been to each comment, one by one, to nearly all posts on this thread - although I have to say you have not been very convincing in your arguments. With respect to your comment about 'balance' in a relationship - and your subsequent assumption that my wife (Japanese) remains at home looking after children whilst I go out to work. I am delighted to report that my wife has a full time career - she is very successful and we 'share' the financial load between us. Therefore your assumption is incorrect. Secondly, I agree we cannot looking into the future with any certainty - but that was not my point, my point was that I have a very strong conviction that my relationship with my spouce is very strong and that I am very confident that she will not 'up sticks' & depart. Evidence that my freinds are happily married to Asian girls is simply that - evidence in itself, (in my mind anyway). Regards.
  9. Er.....I am very happily married - 11 years now - we just had our first baby........and my Wife is Japanese. I live in Hong Kong & ALL my mates are married to Asian girls, (from various countries) - and everyone of us, without exception, are delighted we married who we did! It's got nothing to do with being 'subservient' or lifting one's 'self-esteem' it's about having a 'balanced' relationship - something which I feel would not be possible being married to a 'Western' lady. It would break my heart if my Wife left me - but she won't and nor would I ever abandon her, we actually 'like' being together. All I can say is I believe most western men married to Asian girls are very happy and there is never any thought given to divorce or financial settlement etc - there is simply no need for any of that. Interestingly - most blokes who marry an Asian girl tend to stay married - a life long relationship no les.......fancy that eh?
  10. I normally don't like to 'advertise' dealers - but these guys are pretty good:- http://www.silver-eagle-coins.com They won't charge you the VAT and postage is about 10% of your order value. Good luck!
  11. There are several coin dealers in the Uk where you can buy Silver 1 Oz coins - but the cheaper way to buy these would be to order some from the USA. Do a bit of a search on the web - you'll find pleanty of dealers where you can order on-line and pay by Credit Card, that's what I do. It's funny - nobody wants to buy silver at the moment cos it's cheap! Wait until it raises to US $50 per-Oz and then everyone will want to buy it! I'd get a few orders in now whilst it is still being given away. Cheers.
  12. I've been watching the Australian property mrket reasonably closely for the past 12 months - I have just been granted a migration visas to Oz & I will at some point be 'requiring' a family home, (probably in Melbourne if anyone has any views on this). Obviously things are not looking too good for property values down under - and I don't wish to see people losing the shirt off their backs or anything like that, but how do people see things playing out, i.e. will it be a sudden crash, (like Hong Kong was in 1997/98), or will the property market just die a slow death? All views deeply appreciated - before I go down there in a rush to buy something cos I think I'm getting a bargin. Cheers
  13. The easiest thing is to just go any buy some Gold bullion coins if you are just getting into this market. You can buy & sell very easily at coin dealers in the UK and its quite a nice feeling to have physical Gold in your possesion. Good luck!
  14. Very good idea! I think you'd be better off in either Thailand or Malaysia - cheaper even than Eastern Europe, you can use English, the weather is better & the girld are lovely! Go for it!
  15. Can anyone update me on what is going on with the Melbourne property market? I am planning to migrate to Melbourne from Hong Kong and I would like to buy a 'family home'. Are prices in Melbourne stable now or are they about to fall off a cliff? All views are most welcome. Cheers.
  16. Actually - things are rapidly turning around now in Hong Kong, (as they do in this part of the World). Recent interest rate rises (now about 7.75%) have slowed down the residential property market in just a few short days! I personally think that 'the party is now over' as far as property increases are concerned and many speculators are now trying to either cut their losses or walk away from purchase agreements. I think rents will have to come down a bit for restaraunts as the population can't afford to spend due to the increased interest rate burden - and tourists from China don't eat in post restaraunts (all they do is shop!). Property prices here could be in for a bit of a correction! Cheers.
  17. Of course the principle Law of Gravity applies equally in property as in nature; 'What goes up must come down'. Regards.
  18. I've said this before, but you could look at property as being one long bull market, driven by the baby boomers. Youngsters look at their parents who've done well out of both pensions and property, and think they can do the same. Except that I don't think it's going to work for this generation like it did the last. The above statement is very true! The population of most 'Western' nations is falling - and they still talk about a housing shortage? Who seriously thinks that as the population declines that property will become scare? Immigration won't solve the problem either because these people are only interested in earning a few Quid and then going back 'home' to spend it. Pensions - now there's yet another 'slight of hand'. Cheers.
  19. Yep! I've had a couple of these type of policies in my lifetime too! Frankly - they are [email protected]! However, you may be able to ask for a 'Partial Surrender' (make sure you clairfy there should be no penalty). This might allow you to access 'some' of your cash without taking the massive hit that you otherwise would it you attempted to cancel the policy in full. These things (policies) really are NEVER in your best interests - NEVER! You would be far better putting your money directly into individual shares, cash or even Gold bullion - at least you can cash out without any restrictions. Good luck!
  20. This is an excellent link.........very educational! Just goes to reinforce my views that Credit Cards.........are the work of the Devil! Let's call em 'Debt Cards' shall we? Cheers.
  21. The Writing is On the Wall........and its in Chinese.........and there is No Translation! Get used to it!
  22. I did alright from the UK property market too. I bought in 1998 (60,000 Quid).......managed to pay off my mortgage in less than 2 years too. The property is all paid up, so in a sense I have 'made money', although when I come to sell it (early 2006 hopefully) I expect the 'true value' will become obvious. I can't complain.......it will still make a profit I suppose. Cheers.
  23. I suspect that as the price of Gold continues to increase.......and the masses start to buy into this.......Silver will be the next best thing. A sort of 'poor man's Gold' if you like. Some people will consider Gold as 'too expensive' and look to Silver as a viable alternative, (which of course it is!). Once the World wakes up to the fact that there is a shortage of Silver due to industrial usage and that there is more Gold around than Silver (above ground at least) then Silver could also be a good punt. To be on the safe side I buy both Gold & Silver, although Silver is still 'dead cheap' compared to it's expensive cousin. Cheers.
  24. I buy my Gold coins from Hang Seng Bank, here in Hong Kong. They only offer Australian Nuggets or US Eagles - both at the same price and no Capital gains Taxes in Hong Kong! Prices will continue to rise with Gold, despite the ups & downs of the market!
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