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Value Search - property, cash, FX, shale oil, or metals


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transferring money between countries- property to cash, shale oil, metals

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thanks very much for that welcome..and for your thoughts!

 

now then, i've been reading up on the K wave and it seems plausible...and i may have missed the point about a trigger of new technologies and i may not...the natter among some geologists i was talking to is that once oil prices reach a threshold, the market will suddeny flood with shale oil (of which the US has plenty) which is currently too costly to extract. They are heavily into oil stocks and metals, as you might expect!

 

the only thing which seems for certain to be a good idea would be to convert property to cash at this point, and perhaps sit on the cash for a few years (unless as suggestion, still money to be made in metals) ..perhaps putting that cash into a currency/bank with high yielding interest/strong currency growth prospect, but eventually...perhaps in a few years when prices are looking better - i'll want to convert my cash to GBP and buy some property.

 

conversion between countries of cash deposits attract horrible commission rates for conversion though (my bank charges 2 per cent). I suppose there's no other way of doing things? import/export? I could wear a ski mask and row across the channel with a sack of gold, but I think the coast guard watch out for that sort of thing...

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the only thing which seems for certain to be a good idea would be to convert property to cash at this point, and perhaps sit on the cash for a few years (unless as suggestion, still money to be made in metals) ..perhaps putting that cash into a currency/bank with high yielding interest/strong currency growth prospect, but eventually...perhaps in a few years when prices are looking better - i'll want to convert my cash to GBP and buy some property.

 

You might put some now into:

 

+ Uranium stocks- they are cheap after a long 12month corrrection

 

+ A diverisfied portfolio of Junior gold miners

 

I think that would beat cash, assuming you invest reasonably well

 

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thanks very much for that welcome..and for your thoughts!

 

now then, i've been reading up on the K wave and it seems plausible...and i may have missed the point about a trigger of new technologies and i may not...the natter among some geologists i was talking to is that once oil prices reach a threshold, the market will suddeny flood with shale oil (of which the US has plenty) which is currently too costly to extract. They are heavily into oil stocks and metals, as you might expect!

 

the only thing which seems for certain to be a good idea would be to convert property to cash at this point, and perhaps sit on the cash for a few years (unless as suggestion, still money to be made in metals) ..perhaps putting that cash into a currency/bank with high yielding interest/strong currency growth prospect, but eventually...perhaps in a few years when prices are looking better - i'll want to convert my cash to GBP and buy some property.

 

conversion between countries of cash deposits attract horrible commission rates for conversion though (my bank charges 2 per cent). I suppose there's no other way of doing things? import/export? I could wear a ski mask and row across the channel with a sack of gold, but I think the coast guard watch out for that sort of thing...

 

There are various online fx sites which allow you to take leveraged currency hedges, the likes of which importers and exporters use to iron out exchange rate fluctuations. Check sites out carefully before stepping in, as with any of these things.

 

For a small deposit, you are able to effectively hold a position on a certain currency pair, up to 20 times that size. For instance you might short the pound and buy yen, benefiting from a weakening of the pound against the yen. The spreads are quite small, but you will pay interest on leveraged positions, as you are effectively borrowing the cash to hold these positions. Longer term, it's probably better to actually move the cash into an interest earning foreign currency account. Nationwide International do some good ones.

 

Some of the FX sites I mentioned offer actual transfers of currency at lower rates than banks. I haven't actually used this service, so couldn't vouch for it, but it's worth looking into. There is often a charge to wire funds to and from these accounts, so you will probably be looking at a flat charge overhead of around £40 to do this... it all depends how much you're moving at a time and how much you trust these companies over your bank.

 

And as you mention, there's precious metals. Many regard these as a kind of currency that exists out of the national fiat systems. Places like Gold Money and Bullionvault make buying of gold and silver about as simple as opening a bank account. Bullionvault is the easier to open and has lower costs. Transfer can be done by BACS rather than the more expensive CHAPS and spreads and storage costs are lower. Gold Money offers silver as well as gold, which is a big advantage and unlike Bullionvault pays interest on cash accounts... and now I think about it, Gold Money also allows you to transfer cash into other currencies and to earn interest on it. I think it's only euro and dollar at the moment, but worth checking out.

 

-Wheely.

 

 

 

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I'm going to change the title on this thread,

and (later) move it to a section where it will be more at home

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Ben Bernanke has succeeded in talking the dollar up towards the top of the range

 

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Give it a few more days. and you may have a great dollar-shorting opportunity.

And if the dollar starts dropping again, Gold should go up too.

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