mad4slalom
Senior member
yes sovs or kugerrands, risky though now we know where you live :evil:
gold bullion
- Thread starter Taz
- Start date
I don't think Taz has bought any yet.
Taz x said:
Don't count on it. Take a look at the Historic price of gold in the chart on this webpage: http://www.usagold.com/reference/prices/history.html
Gold made nothing for some 20 years from 1982. The price has now gone exponential and so it looks to me like a big crash is inevitable. I"m no expert, but it looks to me that you should be selling right now not buying.
my precious my precious!
or somewhere to enjoy, add to the cultural capital of your family and even scatter your ashes
Plus a place your children and grandchildren could visit evermore
You can't take it with you.
No, no! What am I thinking, buy gold, lots of gold.
or somewhere to enjoy, add to the cultural capital of your family and even scatter your ashes
Plus a place your children and grandchildren could visit evermore
You can't take it with you.
No, no! What am I thinking, buy gold, lots of gold.
exdos said:Taz x said:
Don't count on it. Take a look at the Historic price of gold in the chart on this webpage: http://www.usagold.com/reference/prices/history.html
Gold made nothing for some 20 years from 1982. The price has now gone exponential and so it looks to me like a big crash is inevitable. I"m no expert, but it looks to me that you should be selling right now not buying.
Compare to the value of the dollar.
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T2FFN said:
Try this one:
My point being, if you buy gold at present prices, IMO you're more likely to see a loss than a gain by retaining it.
The peak in gold prices shown in this graph around the early 1980s was due to the exceptional circumstances at the time. in 1979, Nelson Bunker Hunt (dubbed "Silverfinger" by the press at the time) and his brothers planned an audacious attempt at rigging the world Silver bullion market for their own advantage. They nearly succeeded but the US government intervened. As a result of this, other precious metals also showed a similar rapid hike in prices.
Long term trends don't really apply. The dollar has held value by being a widely supported reserve currency but current global economic rebalancing is going to leave it less well placed. Gold used to be everlasting, there was no wastage, but some circuit boards, processors, places where the value of the gold is negligible has meant that the gold stock will be used up. Knowing where the balance is and the direction that gold will take short or long term is impossible. Political. Illogical. (I can feel a Supertramp song coming on) Uncertainty is its friend. By buying gold you vote uncertainty. Voting uncertainty is not that sensible unless you are putting enough cash in to profit from a crash.
I think that (for most normal people) if it turns out that you have made on gold then you are going to be a lot worse off elsewhere in your life.
my two pieces of eight on the subject.
I think that (for most normal people) if it turns out that you have made on gold then you are going to be a lot worse off elsewhere in your life.
my two pieces of eight on the subject.
Taz x said:
The old economic is no longer applicable and none of us knows what the future holds. Obviously, conventional savings pay piss-poor interest and are possibly at risk of being "taxed" Cyprus-style, or if the bank collapses, you're only covered for £85k under the FSCS. IMO, property is over-priced in most areas and requires maintenance and regular modernisation to retain its value, but buying the biggest/best house you can afford to live in makes a lot of sense. Likewise, the FTSE index is showing exactly the same type of performance exhibited by the Japanese Nikkei index but some 15 years behind (i.e. progressive decline with resurgences en route).
If you're young enough, invest in yourself, and build up a business in the hope that you get bought out at some stage before you retire.
Community lending schemes and peer to peer lending, Taz - seem to be the favourite of colleagues at work. Stuff like Zopa and FundingCircle. I've not used them yet - but i may consider it for a loan.
A bit of an overview:
http://www.telegraph.co.uk/finance/personalfinance/9902718/Can-you-trust-peer-to-peer-lending.html
I should say - whatever you do - hedge and invest diversely.
10 x £5000 investments will be much safer and probably long term profitable than 1x £50000 investment. I think Zopa kinda does this. For me i'd like to pick my own investments (probably more fundingcircle) but Zopa does it based on ratings (kinda like the ratings agencies) - you pick your return based on risk categories.
All of the above is based on my own reading around the subject though - i'm no finance expert by any means, but i don't think i'll ever be bothering with pensions, and i think most of my generation are probably thinking the same.
A bit of an overview:
http://www.telegraph.co.uk/finance/personalfinance/9902718/Can-you-trust-peer-to-peer-lending.html
I should say - whatever you do - hedge and invest diversely.
10 x £5000 investments will be much safer and probably long term profitable than 1x £50000 investment. I think Zopa kinda does this. For me i'd like to pick my own investments (probably more fundingcircle) but Zopa does it based on ratings (kinda like the ratings agencies) - you pick your return based on risk categories.
All of the above is based on my own reading around the subject though - i'm no finance expert by any means, but i don't think i'll ever be bothering with pensions, and i think most of my generation are probably thinking the same.
typical, i lost a fortune 
Taz x said:
You need to speak to this guy, he's done extremely well from it... especially after his 'unfortunate smelting accident'....
From Citywire today: http://www.citywire.co.uk/money/gol...ry&utm_campaign=BulkEmail_Money_Daily_Summary
Today may be the day
http://www.bbc.co.uk/news/business-22151474
http://www.bbc.co.uk/news/business-22151474