council dweller Posted February 24, 2016 Share Posted February 24, 2016 Yes, race to the bottom innit. I`ll take one more gamble then I`ll put cash in mattress. Quote Link to comment Share on other sites More sharing options...
shindigger Posted February 24, 2016 Share Posted February 24, 2016 (edited) . Edited February 25, 2016 by shindigger Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted February 24, 2016 Share Posted February 24, 2016 Are they the latest print edition Euros, or the new batch coming in March. Britain maybe screwed but the US and EU are equally as bad. Not disagreeing. As I said I've bills to pay and live in France. I've been transferring money between my UK and French bank accounts for 20+ years so 1.25 is acceptable for me today and the next 4-5 months. I can see the pound dropping in this period. But as we say on this site regularly...DYOR. Quote Link to comment Share on other sites More sharing options...
Tapori Posted February 25, 2016 Share Posted February 25, 2016 yep, part of being a fully functioning adult really. If you don't learn about it your just going to be people farmed your whole life. moooo Nah, it's a good point raised. Why are these topics not on the curriculum in a meaningful capacity in schools? Quote Link to comment Share on other sites More sharing options...
evetsm Posted February 25, 2016 Share Posted February 25, 2016 one piece of rubbish paper swapped for another piece of rubbish paper, all in a race to the bottom. The correct currency swap is rubbish paper for hard money. It's not that difficult Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted February 25, 2016 Share Posted February 25, 2016 one piece of rubbish paper swapped for another piece of rubbish paper, all in a race to the bottom. The correct currency swap is rubbish paper for hard money. It's not that difficult In the ideal world. Unfortunately in my case, the people I have to pay - including banks and utlilities and schools - only accept rubbish paper............. Quote Link to comment Share on other sites More sharing options...
R K Posted February 25, 2016 Share Posted February 25, 2016 one piece of rubbish paper swapped for another piece of rubbish paper, all in a race to the bottom. The correct currency swap is rubbish paper for hard money. It's not that difficult Silver destroyed 2/3rds of your capital last 4 years gold destroyed 40% of your capital. but dont let facts get in te way of your bias. Quote Link to comment Share on other sites More sharing options...
R K Posted February 25, 2016 Share Posted February 25, 2016 I'm transferring most of my sterling to Euro tomorrow. 1.26 seems about as good as it will get for a while. I've bills to pay in euro's..... Transferred the bulk when it was at 1.41 so I've had a good run. Expect it to drop to around 1.05 or less, as happened the last time the UK went into recession. Mario Draghi might have something to say about that in a few days........ Quote Link to comment Share on other sites More sharing options...
Errol Posted February 25, 2016 Share Posted February 25, 2016 (edited) Silver destroyed 2/3rds of your capital last 4 years gold destroyed 40% of your capital. but dont let facts get in te way of your bias. The game isn't over. We shall see what happens in the next 5-10 years. Edited February 25, 2016 by Errol Quote Link to comment Share on other sites More sharing options...
evetsm Posted February 25, 2016 Share Posted February 25, 2016 (edited) Silver destroyed 2/3rds of your capital last 4 years gold destroyed 40% of your capital. but dont let facts get in te way of your bias. in matters of systemic risk, eg. when over 95% of fiat currencies eventually go to zero with an average lifespan of 40 years, it's better to be 5 years early than a day late when you enact protection.the pound had lost 80% of its purchasing power since circa 1980. As has the dollar. Gold has seen all comers off for over 3000 years. That won't change. Edited February 25, 2016 by evetsm Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted February 25, 2016 Share Posted February 25, 2016 Mario Draghi might have something to say about that in a few days........ And your point is ? . . . . .I'm not very good at solving riddles. Quote Link to comment Share on other sites More sharing options...
Automotive Engineer Posted February 25, 2016 Author Share Posted February 25, 2016 I'm transferring most of my sterling to Euro tomorrow. 1.26 seems about as good as it will get for a while. I've bills to pay in euro's..... Transferred the bulk when it was at 1.41 so I've had a good run. Expect it to drop to around 1.05 or less, as happened the last time the UK went into recession. CHANGE IT TO USD. If there is an out vote win, BOTH Britain and the Euro block will loose out. Britain looses access to the single market, Europe looses the 7th largest economy in the world (leaving Greece to be supported by a smaller number of states) America is shielded from this. Either way, dont forget to swap just before the election day, that's when the panic will be at it's highest allowing you to make pound gains. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted February 25, 2016 Share Posted February 25, 2016 Funny all this talk of saving, when all the banksters want you to is spend it. nIRP next years. Buy fancy wine perhaps then sell it back to the bankseters at exhoribasnt rate, after all they cash afford. Quote Link to comment Share on other sites More sharing options...
Automotive Engineer Posted February 25, 2016 Author Share Posted February 25, 2016 Ridiculous that ordinary people are forced into all this stuff. I just wanted somewhere to live but now I have to learn about foreign currencies, world politics, lunatic central bank shenanigins, investment strategies, just to stand still until house prices are back in reach. Before this I never thought beyond how much were my euros for Benidorm Think of us as the intelligent money. We have long foreseen the problems of low IR, NIRP, DIRP, HTB, BTL, China Slow Down, Pension Changes, Demographics etc...despite talking to other people about this, our views where dismissed which leads us all here. HPC. We can see a little bit further into the future than most people, which gives us an edge to beat the pound run and make mad £££ by £->$->£. Out of interest how do we know when a walk becomes a run? Simple. First it will appear on finance journals, (clever money legging it) then it will move to TV (the plebs catch on) then we see it on the mainstream press (SELL EVERYTHING) When you read this on FT, that is the point you want to really protect yourself, or have previously made arrangements not to get economically hit. Quote Link to comment Share on other sites More sharing options...
ccc Posted February 25, 2016 Share Posted February 25, 2016 CHANGE IT TO USD. If there is an out vote win, BOTH Britain and the Euro block will loose out. Britain looses access to the single market, Europe looses the 7th largest economy in the world (leaving Greece to be supported by a smaller number of states) America is shielded from this. Either way, dont forget to swap just before the election day, that's when the panic will be at it's highest allowing you to make pound gains. Why exactly is this going to happen... Quote Link to comment Share on other sites More sharing options...
Automotive Engineer Posted February 25, 2016 Author Share Posted February 25, 2016 Why exactly is this going to happen... Vindictiveness Quote Link to comment Share on other sites More sharing options...
ccc Posted February 25, 2016 Share Posted February 25, 2016 Vindictiveness From both sides ? At the same time ? Cutting off both of their noses to spite both of their faces ? Massively unlikely IMO. Money talks. Quote Link to comment Share on other sites More sharing options...
R K Posted February 25, 2016 Share Posted February 25, 2016 CHANGE IT TO USD. If there is an out vote win, BOTH Britain and the Euro block will loose out. Britain looses access to the single market, Europe looses the 7th largest economy in the world (leaving Greece to be supported by a smaller number of states) America is shielded from this. Either way, dont forget to swap just before the election day, that's when the panic will be at it's highest allowing you to make pound gains. Theyre about to elect a certified nutjob who has promised to build a wall along their southern border. So yeah, USD is perfectly safe. Quote Link to comment Share on other sites More sharing options...
shindigger Posted February 25, 2016 Share Posted February 25, 2016 (edited) Silver destroyed 2/3rds of your capital last 4 years gold destroyed 40% of your capital. but dont let facts get in te way of your bias. All of my paper losses, since buying in 2010, on physical shiny have been regained in the last few months. With a large chunk of that happening in the last 6 weeks. I'm now sat here wishing i'd had the balls to snap up Sovs at £165 Edited February 25, 2016 by shindigger Quote Link to comment Share on other sites More sharing options...
R K Posted February 25, 2016 Share Posted February 25, 2016 in matters of systemic risk, eg. when over 95% of fiat currencies eventually go to zero with an average lifespan of 40 years, it's better to be 5 years early than a day late when you enact protection. the pound had lost 80% of its purchasing power since circa 1980. As has the dollar. Gold has seen all comers off for over 3000 years. That won't change. The only risk was buying gold and losing 1/2 your wealth in 3 years. Not sure what the "purchasing power" of the pound since 1980 has to do with anything at all. Unless youre Ronnie Biggs and been keeping your stash in cash for the last 35 years. Quote Link to comment Share on other sites More sharing options...
Automotive Engineer Posted February 25, 2016 Author Share Posted February 25, 2016 Theyre about to elect a certified nutjob who has promised to build a wall along their southern border. So yeah, USD is perfectly safe. And building a wall to stop illegal immigration and the drug cartel is bad because..... Quote Link to comment Share on other sites More sharing options...
shindigger Posted February 25, 2016 Share Posted February 25, 2016 The only risk was buying gold and losing 1/2 your wealth in 3 years. Not sure what the "purchasing power" of the pound since 1980 has to do with anything at all. Unless youre Ronnie Biggs and been keeping your stash in cash for the last 35 years. What about when you get it all back again inside 3 months? Life has to be a hedge these days, does it not? Quote Link to comment Share on other sites More sharing options...
giggler000 Posted February 25, 2016 Share Posted February 25, 2016 Theyre about to elect a certified nutjob who has promised to build a wall along their southern border. So yeah, USD is perfectly safe. Worked for the Israelites and Bibi is arguably as much of a nut job. Quote Link to comment Share on other sites More sharing options...
Erewhon Posted February 26, 2016 Share Posted February 26, 2016 An experiment. Being alarmed by events of 2008 I decide to dabble with long term alternative investment. On one month in a year I will buy one ounce of gold on the last day of that month. Unfortunately, the stars being aligned against me, I choose the worst month of each year for my purchase. In 2008 I buy on the last day of DEC at the worst price of the year of 605 pounds In 2009 I buy on the last day of NOV at the worst price of the year of 716 In 2010 I buy on the last day of DEC at the worst price of the year of 898 In 2011 I buy on the last day of AUG at the worst price of the year of 1114 In 2012 I buy on the last day of FEB at the worst price of the year of 1108 In 2013 I buy on the last day of MAR at the worst price of the year of 1053 In 2014 I buy on the last day of FEB at the worst price of the year of 792 In 2015 I buy on the last day of JAN at the worst price of the year of 839 Having maintained my bad luck of buying at the worst price I now have eight ounces and after this disaster I calculate my loss. Total cost of my disastrous purchases of 8 ounces of gold is 7124 pounds. Price per oz at 1800 on 26 Feb 2016 is 880 Valuation of my 8 ounces is 7040 pounds. Total loss is 7124 - 7040 which is 84 pounds. This represents a loss of 1% Obviously I was very unlucky so decide to check how those who bought at the average price in each year would have fared. In 2008 they buy at the average price for the year of 482 pounds In 2009 they buy at the average price for the year of 626 pounds In 2010 they buy at the average price for the year of 799 pounds In 2011 they buy at the average price for the year of 974 pounds In 2012 they buy at the average price for the year of 1053 pounds In 2013 they buy at the average price for the year of 892 pounds In 2014 they buy at the average price for the year of 762 pounds In 2015 they buy at the average price for the year of 755 pounds For their 8 ounces of gold they paid 6343 pounds Current value of 7040 minus their cost of 6343 indicates a gain of 697 pounds. Viewed simply this is an 11% increase after 8 years. Not being financially literate I must have made a mistake. Can someone please point out my error. The numbers and dates are taken from the downloadable spreadsheets of the World Gold Council. Thanks in advance. Quote Link to comment Share on other sites More sharing options...
PiXeL8r Posted February 26, 2016 Share Posted February 26, 2016 You would have done much better than average if you just bought at the PM fix on option expiry days each month. Simples. An experiment. Being alarmed by events of 2008 I decide to dabble with long term alternative investment. On one month in a year I will buy one ounce of gold on the last day of that month. Quote Link to comment Share on other sites More sharing options...
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