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Posts posted by dietcolaaddict

  1. Enclosed is a great article about sportstars malinvesting in UK property and Icelandic banks. How long till the crowds chant "We all live in Robbie Fowler's repossessed house" ?




    Talking of his financial adviser, a certain Mr J. Power, former world super-middleweight boxing champion Glenn Catley says 'I'd like to rip Power's head off and spit in the hole,' having paid £370,000 for a one-bedroom flat (:o) at London's Grosvenor Waterside, Victoria, in 2005.


    That's one man I wouldn't get angry, Mr Power.




    I too am interested in platinum coins, but I really really do not want to give Gordon Brown 15% of my hard earned savings.


    I'm probably going for Goldmoney silver with my next purchase, there is only so much bullion you can keep in the house and not worry about when away or at work!





    I think we should make a collective decision to avoid rocket pics for the time being (at least until the GBP peak is conquered!)


    For the last few months, watching the gold price has been like supporting the Scotland football team - winning the odd battle but always loosing the war!

  4. I point out that gold is near a peak for me, because I'm not interested in the GoldUS$ exchange rate, I'm interested in GoldNZ$ & GoldJPY.

    Somehow they only ever quote the GoldUS$ rate :unsure:


    Agreed. Buying in the dips means buying in the currency fluctuation dips as much as the spot price dips. When there was 2.1 USD to the GDP, gold was a steal in the UK.




  5. It's fascinating reading other people's long-term plans like that. Sounds like a plan to me :D


    How about Gold Money for silver to avoid the VAT ?


    Thanks Steve.

    I am still unsure about keeping anything other than physical bullion, but Gold Money is probably the logical place for me to build a bit of exposure to silver over the next few months.

  6. I am 55% in PMs, and 45% in sterling (ISAs etc.). I only buy gold - I find silver too bulky and volatile - but I am now increasingly tempted to trade in some £ for Ag, especially if lift off resumes and the 17.5% VAT can be quickly recovered in the bull run.


    My masterplan has changing this year as well. I thought my gold would fund a decent house deposit but I am no longer interested in buying a property with my savings. I also worry about the effects a recession will have on my area of work. I am instead thinking of using my savings to fund an accelerated medical degree. A recession is a good time to be a student as housing costs and living expenses tend to fall and you dodge the tax rises (but of course, a recession needs to end by the time you graduate).


    The gold-to-UK-medical-degree ratio is currently about 25 oz. As tuition costs are capped and rental/living costs should fall, I'm hoping it will end up about 15 oz in the next year, at which it is a very viable option. :)






    GEI is really finding it's purpose and market niche these days - so many insights and good calls by the posters on this thread over the last few months.

    (and to think I only started reading this stuff because I couldn't afford (or wouldn't pay 6xsalary) for a tiny flat in a crappy UK town).


    Won't gold take a serious smack tomorrow as traders etc. liquidate any gold they have to cover losses.



  8. It always cheers me up that little bit when gold is over $900/oz (not that the $ means anything anymore!).


    Although I am technically in profit with my gold again, recent events (and you guys) have taught me how increasingly fruitless this coversion of gold to fiat money is becoming.


    I am trying instead to think of my bullion as a value relating to a percentage of a house or a number of months of living costs.


    Considerating the last point further, I've come to the view that gold sovereigns are probably the optimal bullion coin for the bad times ahead - they can be easily traded for workable amounts of food, labour, goods etc. 1 oz coins are too big a denomination unless trading for things in bulk, or paying big expenses like rent.

  9. AIG is the biggest insurer in the world... may go bankrupt tomorrow

    The financial crisis is even evident when watching Match of the Day on saturday night TV!


    West Ham Utd's sponsor (XL airlines) bust

    Man Utd's sponsor (AIG) will be bust by the weekend

    Liverpool's new stadium postponed due to "credit crunch"