Article 'How safe is your money?'

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
10/01/2010 23:22

Interesting Times article re banks.



http://www.timesonline.co.uk/tol/money/savings/article6981812.ece

Corbo



Joined: 13/09/2009
Posts: 627

Message Posted:
11/01/2010 07:49

The second wave of the crash is coming soon. Be prepared. All this hype and nonsense about a recovery is short term and a false dawn. The foundations are still sand and the immense problem of debt has not been fixed by creating vast sways of more debt. I'm sticking with Gold and would be wary of money men offering advice on the stock markets.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
11/01/2010 09:38

Only if the gold is in your possession. That's the problem with a collapsed money market, bits of paper saying you own gold used to be called banknotes and they could become worthless too, although less likely than shares and currency. But then trouble with having gold in your possession if a financial collapse brings on a social collapse...

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
11/01/2010 10:39

I'm with Corbo on this one. I think we are in for another downturn.

Corbo



Joined: 13/09/2009
Posts: 627

Message Posted:
11/01/2010 16:48

Gold is in a vault in Zurich..small monthly rental for it. Buy and sell on line. Good company runs it. Paper money is never seen in large transactions. The whole mortgage market is probably fraudulent if really looked into.

MarkVPiazza


Joined: 14/08/2008
Posts: 530

Message Posted:
11/01/2010 16:59

I agree, once the election is out of the way, the real recession will begin



Not looking so good in the USA either

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6962632/America-slides-deeper-into-depression-as-Wall-Street-revels.html



The most frighening thing is that nothing has realy changed since the financial crisis started - still borrowing far too much (personal now government), over valued assets (house prices in particular) and rising unemployment



I hope I'm wrong

Activator


Joined: 23/12/2009
Posts: 44

Message Posted:
11/01/2010 17:13

Yes I agree with the doom mongers. Sold the house a few weeks back, fingers crossed for the exchange/completion and then in NC from april. The window of opportunity to sell the house was great but think the UK housing market will go Pete Tong soon.

Corbo



Joined: 13/09/2009
Posts: 627

Message Posted:
11/01/2010 17:28

Wise move Activator..it's all about timing.

Activator


Joined: 23/12/2009
Posts: 44

Message Posted:
11/01/2010 17:38

Thanks corbo. Smart move if you went into gold last year or better still in previous years. I looked at gold investing last year at $950 an ounce but thought it may come back a bit but surged on again. Tend to play the stocks on trading accounts, had Taylor Wimpey and LLoyds before xmas, sold out last week and the bloody market shot up again. But as I keep telling myself, nobody lost money from taking a profit.

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
11/01/2010 17:44

We are all doomed Mr Mainwaring!



The points being raised in message1 are about ROC Cyprus bank.

It is necessary to view the lending protocols of Turkish banks to see how they vary from ROC or Iceland.

Since the last banking catastrophe in Turkish they learnt a lot about lending which very unfortunately RBS and HBOS and the majority of US banks didnt learn.

Loan to value ratio is pegged at 75% and a small minority of lending is done overseas. This is in stark contrast to the policies of RBS and the like who were busy being greedy little buggers who couldnt see the big picture.

I am happy with my limited knowledge of Turkish banks within the resaerch I have carried out over 4 years.

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
11/01/2010 21:03

msg 6



I have to agree with you for a change mark!!!!



There are so many people listening to the noises made by people in government in UK, USA and in Europe that things have improved but they do not qualify too much about what will happen.



I think most of the economists that I have read and listened to on the progs around the globe seem to be looking at "a dead cat bounce scenario". ie there is a small improvemnet but it will enevitably fall back sooner rather than later.

racoonchic



Joined: 17/11/2008
Posts: 3223

Message Posted:
11/01/2010 21:23

mines safe the wifes got it lol

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
12/01/2010 11:52

i came into the world with nothing and i still have most of it left .