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If you were to move savings outside Ireland, where do you put them?
An option that has been turned over is to open a Euro a/c Lloyds in UK and put savings there. Also to open a Swiss France and Sterling a/c in same bank and then means can be converted quickly if needs be. Don't want to convert from euro yet as currencies are so volatile at the moment.
Any advice much appreciated on this or if there is a better option, would love to hear it
personally i think gold is ( probabley ) the best option right now
Surely gold is even more over valued lately given the mass flock to invest in it as a haven for risk reduction (and investment) and that in itself makes it even more risky when the "bubble" does eventually burst, no? Or am I looking at it wrongly?
I realise this post would be more at home in the Investments thread on AAM but in the context of Deposits its hard to ignore gold (particularly given gold's media coverage over recent years) as an alternative to having conventional cash deposits.
Thoughts welcome as an expansion on the OP's question.
If I could just add a further twist to this question...If you hold savings in UK in Euro account and we went back to punt, or if two tier Euro idea came into effect, would it be better to have savings in UK rather than in Ireland?
Surely gold is even more over valued lately given the mass flock to invest in it as a haven for risk reduction (and investment)
What rush? it actually sold off alongside everything else yesterday since everyone is in risk-on/risk-off in tandem.
This makes no sense.
For every ounce of gold that is "sold off", the same ounce is bought.
Of course they are - they want to protect their savings. What would you suggest they do - sit back and watch it unfold?A lot of people on this forum have been like the proverbial blue-arsed flies, trying to put their deposits abroad, where they imagine they're safe.
Surely gold is even more over valued lately given the mass flock to invest in it as a haven for risk reduction (and investment) and that in itself makes it even more risky when the "bubble" does eventually burst, no? Or am I looking at it wrongly?
I realise this post would be more at home in the Investments thread on AAM but in the context of Deposits its hard to ignore gold (particularly given gold's media coverage over recent years) as an alternative to having conventional cash deposits.
Thoughts welcome as an expansion on the OP's question.
gold rose four fold before the media gave it a seconds notice , gold has only entered the public consciousness very recently , the recent stock market bull run was a sham , backed by nothing except QE by the goverment , america is entering rescession again , money will enter defensive assetts like gold + europe will have no choice but to print thier way out of debt so that will inevitabley lead to a weaker euro which is redicolously over valued anyway , all signs suggest gold will at least hold its own over the next year at least , a sell off of 100 euro an ounce here or there is nothing to worry about , if it was where it is now in a years time , id still be happy
All of this is highly speculative. It's also wrong to say that the stock market run was solely caused by QE or that it must follow that the ECB will engage in QE or that the Euro is neccessarily overvalued.
Gold investment is highly speculative, and not for the faint-hearted. A resolution of the current crisis would leave a lot of damage to the Gold price in it's wake. In short, gold should not be a sole option for any saavy and conservative investor, or any investor in my opinion.
Of course they are - they want to protect their savings. What would you suggest they do - sit back and watch it unfold?
Presumably they will be "safer" in one place than another and at less risk of erosion in one place than another. Figuring out where is best doesn't seem to be so straightforward though.
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