daverichardson
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We were just talking about Marie Ann Faithful yesterday. She would be able to take 3 or 4 nowadays
Savings Interest Rates Getting Worse
- Thread starter rockits
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She might observe that they’re so much less satisfying than they used to be.
allandwf
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Even if the size hadn't changed I would think! Lol
rockits
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Funny you should say that. Been sweating my knackers off doing the garage so went back to this house and raided the freezer for a Haagen Dazs ice cream pot. Walked all the way back....sat down.....no little spoon anymore! Had to walk all the ay back to get a spoon
RobinL
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Oneball
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Are you saying things get looser with age?
I, like a few colleagues, messed with bitcoin.. Sadly changes in employment changed my interest away and I stopped messing and dumped what I had.. at that time just shy of 15 bitcoins at 200 usd each roughly speaking.. should have held them and kept on. At the time I was only interested in the machine mining challenge, a technical investigation looking to protect shared DC's against rented / hijacked equipment being worked to death .. and how to charge CPU time back against clients using for that purpose...
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rockits
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Didn't have one of those unfortunately. Did have a small paint scraper but it looked a little oxidised
Froddy
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Here's the weekly chart of Bitcoin vs USD (BTCUSD) over the last 12 months.
As you can see, it has respected (perfectly) the broadening formation trendlines. That's not to say that it will continue to do so - it will break out at some point. However, it's better to consider buying at the bottom of the range than at the top (and to consider selling at the top of the range than at the bottom). I'm not saying it will go down from here - I have no idea - it may well go up:
The same is true of many others (AG in this example):
It's really important to appreciate that, contrary to what people are conditioned to believe, support and resistance lines are NOT horizontal!
As you can see, it has respected (perfectly) the broadening formation trendlines. That's not to say that it will continue to do so - it will break out at some point. However, it's better to consider buying at the bottom of the range than at the top (and to consider selling at the top of the range than at the bottom). I'm not saying it will go down from here - I have no idea - it may well go up:
The same is true of many others (AG in this example):
It's really important to appreciate that, contrary to what people are conditioned to believe, support and resistance lines are NOT horizontal!
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Wattie
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The confiscation aspect is an interesting one- as it happened before, but only in certain jurisdictions. ie the US.
In theory it could happen to any asset, including Crypto. It could be deemed illegal overnight and exchanges siezed. Your bank deposits are already liable to this at a whim of the bank.
With precious metals you can guard against this by purchasing through an exchange using their online system. This allows you to store and vault in various jurisdictions around the world. This would then enable you to sell in one and repurchase in another prior to the event.
The key obviously is in staying in touch with events that may lead to those circumstances developing in the jurisdiction you hold in and acting in advance.
You cant be a sleeper.
With precious metals the only real reason for confiscation would be if say the US decided it was going to go back on the Gold standard. ie back paper money to tangible gold. In theory they don't need to confiscate because the US claims it has over 8000 metric tons of Gold, mainly in Fort Knox. This 8000 tons would be revalued to say $7000 per ounce (or higher) to match the money supply......they don't need to touch privately held gold.
Interestingly, the US gold in Fort Knox hasn't been audited since 1953.
We are asked to believe it is still there.
Alarm bells?
Personally, I hold physical. Tragically, it was lost in a boating accident yesterday.
rockits
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Agreed Wattie it is unlikely but everything is in my open mind at the moment and nothing is off the tablle..
Interesting you say about bank deposits and the FSCS regulations. These could even be revoked with no guarantees for depositors. So we will have bail ins and nothing is safe or guaranteed any more. As always two things will always remain guaranteed.....death and taxes!
With potential bank bail ins and lots of other batsh1t ideas, possible a and playlists it is almost back to the wild west again!
Been watching some stuff from E B Tucker and George Gammon on YT amongts others. Mind blowing thoughts and ideas for the conventional thinkers but like you you have to think outside the box and be unconventional to preserve your wealth I believe now.
Shame about the gold being lossed in the boating accident
Interesting you say about bank deposits and the FSCS regulations. These could even be revoked with no guarantees for depositors. So we will have bail ins and nothing is safe or guaranteed any more. As always two things will always remain guaranteed.....death and taxes!
With potential bank bail ins and lots of other batsh1t ideas, possible a and playlists it is almost back to the wild west again!
Been watching some stuff from E B Tucker and George Gammon on YT amongts others. Mind blowing thoughts and ideas for the conventional thinkers but like you you have to think outside the box and be unconventional to preserve your wealth I believe now.
Shame about the gold being lossed in the boating accident
rockits
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Agreed, I don't trust anything I see or read any more. I'm just still OK with believing the earth is round. The rest is up for discussion.
Surely as the finance sector has proven with selling, reselling and insuring, resinsuring then bundling asséts etc. they are not to be trusted or believed. Wouldn't surprise me if there is much more gold owned that exists. So as you say physical ownership is the only way.
Seems to be assets in any form is likely safer than cash. However some assets will be better or safe than others. It seems as always spreading it all across various options is the way forward.
Very strange times and bizarre how one virus has been catalyst for all the things were sitting behind the scenes anyway. The rate and speed of events is unfathamble compared to realities we are used to. All in the playout plan though I expect. It is just working out what else is.
Wattie
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Re the deposit g’tee scheme, the money to give everyone their money back doesn’t exist.Agreed Wattie it is unlikely but everything is in my open mind at the moment and nothing is off the tablle..
Interesting you say about bank deposits and the FSCS regulations. These could even be revoked with no guarantees for depositors. So we will have bail ins and nothing is safe or guaranteed any more. As always two things will always remain guaranteed.....death and taxes!
With potential bank bail ins and lots of other batsh1t ideas, possible a and playlists it is almost back to the wild west again!
Been watching some stuff from E B Tucker and George Gammon on YT amongts others. Mind blowing thoughts and ideas for the conventional thinkers but like you you have to think outside the box and be unconventional to preserve your wealth I believe now.
Shame about the gold being lossed in the boating accident
It would therefore need to be printed.....devaluing such.
There is also nothing to stop your banking organisation saying that as from tomorrow you can only withdraw £50 per day, and transfers are restricted too.
It’s already happened.it’ll happen again.
For feck all % of feck all a year, I keep mine at home- unless it’s needed to pay bills.
That guarantees I can get it.
Feck them.
rockits
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Yes, it is a concern. Already I've experienced it as has taken months to transfer an ISA out of Barclay's to IG. Then weeks to get the already added bank account re-verfired on the remaining Barclays account to be able to withdraw the cash I have there.
One thing is for sure....there or many more chapter in the book to unfold.
Really interested in the discussion on security of where cash is held - I've put reliance in FSCS, and have spread money across various lenders staying under the FSCS limit of each, but it does makes me a bit nervous. I've got it across various ISAs and instant access savings accounts, and then some in government bonds which is supposedly protected/underwritten. Everything else is in NYSE shares, EIS startup investment, cars, and property (less in cars than I usually would as I was nervous about what was going to happen to luxury/discretionary spend.....doesnt seem to be suffering so far!). We're also selling two rented properties so there will be a period when there is additional that needs squirreling away.
Would be interested to what wattie, rockits, FC and others would suggest in terms of the spread of where to keep savings at the moment. Rightly or wrongly, I'm looking for something that's fairly low risk with good security and ease of access.
Would be interested to what wattie, rockits, FC and others would suggest in terms of the spread of where to keep savings at the moment. Rightly or wrongly, I'm looking for something that's fairly low risk with good security and ease of access.
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Wattie
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Sounds like you’re like me. (Do a search on “wealth” and Wattie you’ll get the picture).
I’m more interested in wealth preservation than wealth accumulation. I’m spread in various currencies, properties and a few shares.
One rule to remember is that any money held in a bank is no longer yours. If you’re happy with that fine.
If you’re not, either rent a safety deposit box beyond the banking system or buy your own safe.
Loss- feck all%
Gain- 100% control.
You’ll have seen my posts I expect.
The global Ponzi scheme is being stretched by covid. IF central banks do not continue to print money it will all collapse. If they continue, it will devalue FIAT. They are snookered.
So, become your own central bank is my advice. Buy Gold.
I’ll let you do the maths, circa 9/10 upside for the average return stated....and you legally own it.
Not many fund managers have produced returns like this despite the fact they take way more risk.
Where u store it is up to you....an Exchange let’s you move money seamlessly Cross border.
Pm me if you wanna ask anything else.
Cheers Wattie - I'll PM you, as I'd be interested in the easiest way to set up investment in metals and different currencies. I need to do something before I cave and spend some of it on a McLaren 570s!
.
My only high risk stuff is investments in a couple of tech start-ups....at least one of them may come good, but I've had the EIS tax benefit, and have essentially written off the rest as a punt!
.My only high risk stuff is investments in a couple of tech start-ups....at least one of them may come good, but I've had the EIS tax benefit, and have essentially written off the rest as a punt!