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House Price Crash Forum


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Everything posted by Gwailo

  1. There will come a point in time, when the minimum wage is only 50P, that outsourcing manufacturing from China & India to places like Corby, (Northants - for those of you who don't know), will be quite an attractive option. I think we will see this during our lifetime! Cheers.
  2. I shouldn't think so? It is possible, however, for the various Central Banks of the Western World to conspire to 'Inflate' their way out of the massive debts they have built up. This could lead to massive prices in Sterling for property, although they would really only be worth 50 RMB. Cheers.
  3. Many people consider 10% of their total wealth in Gold is a prudent amount. Some say go as high as 20% if you are really concerned about the future. For myself......I am aiming for 50 Oz (which is about 12,000 Quids worth). Cheers.
  4. Dr.B Fair enough! Looks like the moral of the story is ........to buy physical & stock (can't go wrong this way). Frankly, I am somewhat concerned about how the World has 'suddenly' changed, what with Rita bearing down on Texas & the incresed oil prices (and Gold price increases too). Just look at the news today - some serious names giving serious warnings! The World is looking very scary this week! Cheers.
  5. Yep! This might raise a few eyebrows.......not to mention the price of Gold! Cheers.
  6. Going back to this Gold thing......I still think it is the only 'realistic' alternative if the World's currencies crash. Where else could you turn? Having said that; 99.9% of people in the Western World have no idea what is coming their way, (and some even believe BTL is still safe), let alone that the cash in their wallets could potentially be worth only the paper it is printed on. Sobering thoughts. (What about Silver - poor man's Gold perhaps - if you can't afford Gold prices that is?).
  7. Na......you probably not a nutter. I personally feel that many people are simply buying Gold as a hedge against inflation, (with rising oil prices etc). The increased demand for Gold may simply have pushed the price up. I also have been 'doing my bit' & I have purchased a few thousand Quids worth of Gold bullion (and also a bit of Silver too......but that is a different story). Truth is......nobody really knows where Gold is going, but luckily for us prices are rising. Cheers.
  8. True! However, you can't really hide corn or wheat under the floor boards & just leave it there for a few years in case of that 'rainy day' when you might need to spend it. Silver is cheap, everyone seems to agree on this point, and the potential for a massive price increase remains. That is the attraction of physical Silver! It's a bit like the Lottery........it's cheap, it's easy & it could make you rich on day! (only you have got more chance of a winner with Silver than a lottery ticket). Cheers.
  9. I understand Barclays are looking into setting up some form of Electronic Trading of Silver: http://news.silverseek.com/TedButler/1120048322.php I don't think this has been established yet and it could be a while longer, still you could alway buy some Silver bullion whilst you wait.......it's cheap now remember! Good luck.
  10. If you were to purchase your 'Hypothetical' amount of Gold.......I would be very confident the Government would be looking at you! Why?.......money laundering with possible terrorist links. Although I doubt if you are about to spent this amount of dosh, if you do please let us know first because I imagine your purchase would push the price of Gold even higher & I would want to buy some more before hand. Cheers.
  11. Good question! I'm no expert, of course, but I have been buying both Gold & Silver! Silver is dead cheap right now, (about 7 Quid an Oz), whilst Gold is over 250 Quid as I am sure you are aware. There are some people out there who state, and have indeed provided evidence, that there is now less refined above ground Silver now than Gold. Take a look at this site: www.silver-investor.com which will give you a very clear picture of what is happening in the Silver market. My view is that Silver is just so cheap right now and that if the prices do indeed explode upwards, why not just take a punt and wait to see? Silver bullion coins are easy to buy, but cost considerably more that the Spot price, shop around you can get some from the US for reasonable prices. If I were you, I'd buy both Gold & Silver. Good luck!
  12. Let's hope so! Although, I live in Hong Kong and we can now easily open an account at HSBC and save RMB (the People's Currency no less!). RMB might sound silly right now.......but in the long term? Still, in the meantime, I am going to stick with my Gold bullion coins and hang on to my Sterling. Thanks for the advice.
  13. I agree with all you say here! Quite a large portion of my 'wealth' is held in Sterling (as you said in different banks in Guernsey & Isle of Man). Do you see any possibility of Sterling going to the wall? I mean, let's face it the UK has some serious debt problems, (both private and well as public), wouldn't this lead to a massive sell off of Sterling eventually? Cheers.
  14. The trouble with places like Norway, despite the fact that are probably very lovely,(with nicely priced houses), is the difficulty in findling employment! It might be fine if you spend your time writing Harry Potter books, but for 99% of people they can't speak the language and can't work there........end of dream really! Still, nice place mind. Cheers.
  15. That's funny......50 Oz was exactly the amount I am looking to guy! So far I've got 24 Oz in Gold bullion coins, so still some saving to be done until I reach target! 50 oz is about 11,700 Quid in 'todays' money, I wonder what it will be worth in say 3-5 years time? Cheers.
  16. Many thanks for all your comments......deeply appreciated. I will follow your advice, keep out of the market for a while and watch! I have lots of time to buy and re-locate down to Melbourne, so I have the luxury of time on my side. Cheers.
  17. This is interesting. Do you know how things are doing in Melbourne? I'm thinking about buying in Melbourne because I am planning on migration to Oz in a few (3-4) years time? What do you think.......? Hang on and watch or has Melbourne dropped already? Cheers.
  18. I would agree with the comments about IFAs.......I have come across many and most (but not all) were crap and just tried to sell me a product not in my best financial interest. As for Gold........go for it! I have got about 10% of my total wealth in Gold bullion coins, and also a small fraction in Silver bullion coins too. Buying Gold coins in Hong Kong (where I live) is very easy.......you just pop into any Hang Seng Bank branch and buy what you want, (US Eagles, Australian Nuggets etc), and pay the spot price (pus a little bit for the bank's profit). I know of a company in Dublin who also trades in Gold bullion, I think you could easily find them through Google or Yahoo. It looks like Gold prices will continue to rise in the long term and I am confortable with 10% in Gold coins. Cheers.
  19. This is correct! We are so concerned about this potential 'Avian Flu Bomb' here in Asia that we are now all getting our contingency plans in place and considering the worst case scenario. Being in southern China.......we REALLY are sitting duck! Cheers.
  20. I'm no economist, but I would have thought we would be heading for serious Inflation rather than the Deflation this guy is talking about? Surely with rising oil prices wouldn't we expect prices in general to rise? To be honest, I would prefer Deflation, because I presume that my cash savings will go a lomger way in a deflationary environment than during an inflationary environment........but I could be wrong? What do other people think......is it going to be deflation or Inflation for the future? Cheers.
  21. Gentlemen, Don't forget about buying some Silver 1 Oz coins. There is much work on the net about how the price of Silver is 'set to explode upwards' mainly due to a real shortage of silver being mined and some form of manipulation in the market. Anyway, at about 4 Quid an Oz........it's a low risk punt and I have started buy-up some nice Silver coins in addition to my Gold collection. Cheers.
  22. My gut felling..........don't move back to the UK! (It's gona be very nasty!).
  23. Mate, I'd be very cautious if I were you! A good pal of mine has one of these properties close to Disney, it comes to less than 40 weeks rental per-year which means he has to 'chip-in' a lot of his own cash every month. A 30 year mortgage means you will be paying about US $1,000 per-month just in interest during the early years......ouch! Also bear in mind that the US property market is probably at the extreme end of a massive bubble..........do you really want to make a 30 year finncial commitment? Even if you do buy this place, you can't even live in the US for more than 3 months (and I think you are limited to a 6 months maximum per-year anyway). Best avoided my freind. Good luck.
  24. It seems there are more & more of us puying Gold & Silver these days, clearly we are beinging to suspect the worst. I normally buy Gold 1 Oz coins here in Hong Kong, it is very easy I just pop into my local Hang Seng Bank during my lunch break and buy whatever I want. Silver is also widely available here from the many coin dealers in town. It might be worth you to consider buying a few bullion coins in addition to your Goldmoney.com because then you are 100% sure you own them and you can sell them very quickly if you ever have to. I understand there are several locations in London who sell these gold & silver bullion coins. Cheers & good luck!
  25. Gentlemen, This has been a very educational thread! Some people have explained the issues of 'Fiat' currency and how for an economy to continue to 'grow' you need expansion of credit (also called making money out of thin air). MEW & credit cards are also a classic example of this. Once you understand that the current world economy is basically an illusion (i.e. true wealth isn't the value of your property or even the cash in your bank account), then you will understand that property bubbles are simply a small part of the whole game. Nowadays we should not be thinking about making profit, or even buying a decent home, but we should be concentrating on financial survival! It looks like Oz is currently falling, the UK & Ireland will be next (some say it has already started dropping) followed by the really big one........the US! This is not the time to be buying anything! Let alone a property, we should all be clearing our debts, saving cash and making sure we can hang on to our jobs as far as possible. Personally, I live in Hong Kong and the economy is doing pretty well......at the moment! However, once the US starts to fall we can expect a serious drop in demand for Chinese made products which will lead to some serious problems with most Asian manufacturing based economies. That means even us in 'nice & safe' Hong Kong are not immune to the possible world wide property crash. It is going to be nasty gentlemen, very nasty! Cheers.
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