I've been in Town today and had lunch with an old University friend who is now a currency trader. I now want to buy Gold. Sterling is going to be toast against the Dollar by the end of 2008 and I know someone willing to make a three hundred million pound bet on that being the case..

There are various ways to buy gold. I have 150k in Sterling that I would like to move into gold in the safest and easiest way possible. Would some of you gold bugs please give me some succinct advice on what the options and merits are please?

Many thanks,

ANDY


ps I STR'd a year ago and todays economic news is right at the upper end of my expectation curve. I do actually believe now that we will see 30% nominal value drops in the next 2 years and although I've long expounded the view I always had secret doubts that we might see small nominal falls and prolonged stagnation. No more. The economy is screwed and what is happening in the USA is going to happen here later this year. Big time.

Wasn't there a thread all about this once?

You are in the wrong forum son!

www.bullionvault.com might be worth a look, but DYOR of course.

Things change and I seek current advice.. Besides - I want to drag a few more people with me as from what I have learned today anyone with savings needs to bail out of Sterling NOW. I made 400k out of HPI and I was lucky. I think I might be able to make 100k by getting out of Sterling for 2008. Join me if you want. I'm no gold bug.


ANDY

You are not a gold bug, just crazy.

There are lots of other things you can hedge with, not only the stupid gold.

Ample discussion of pros and cons of various methods of investing in here:

http://www.housepricecrash.co.uk/forum/ind...showtopic=43821

It's looong but if you're planning on investing 150k, it would be well worth reading. Most of the knowledgeable posters left when it was shut down, I would tell you where but don't want my account disabled. There are enough clues in the metals forum if you look.

Personally, I use Goldmoney.com they are convenient and appear to be a safe option. Many others prefer to have their Gold in coins in their sock drawers, others like ETFs, some just want exposure through mining shares. There are many different ways to get Gold or exposure to Gold. There are many factors to consider, thus the length of the thread.

I would also plug "the coming collapse of the dollar (and how to profit from it)" by James Turk available from Amazon, for a guide of what's going on and what to do about it.

try and make sure you are not like the man on the scraggy donkey heading for the klondike

At the risk of kicking off another 600+ page thread, putting some of your wealth in PMs has been recommended for many years. It doesn't seem like Andy's proposing to go all out; he should have another £250k or so to put in other things.

Wait until July. You should be able to pick it up for less than 500 bucks an ounce by then.

you might also wish to see Dr Bubb's site Green Energy Investors dot com

Agreed. Thought the reference would be modded out.

Are you not willing to share your info?

What makes you think it will half in value by July?

If you want to buy some of the yellow four letter word, then go and buy some. Why are you consulting us? their are loads of threads and posts about it in the metals forum.
With your contacts in high places, you of all people will obviously know exactly what you are doing far more than any of us, isn't that right Andy Pandy.

Or perhaps you just wanted to show off for a bit.

This thread is toast.

RB said so.

Get some LyxOR Gold Bullion Securities and track the price of gold that way. Of course you pay a fee, but it's less than real gold.

Any sensible, logical reasons?

Yes, $US has been the place to be so far and the news from US just gets better and better.

toast against the dollar? i wouldnt bet on it. the dollar is being devalued even faster than sterling. fed rates are rumoured to drop to 1.75% in the summer.

the dollar's probably the worst currency to be long on at the moment - theres another $200billion m0 money to add to the dollar money supply right now.

for a currency trader i dont think hes very good to be honest.

I think it was a feeling in his waters.

Buy high/sell low

Not on the top of the money.

LOL... ... let's come back in a year from now and see whether now really is the "top" eh?!

Inflation-adjusted, Gold is nowhere near it's previous high. When adjusted for dollar money-supply it's a mere fraction of what it should be.

But that's fine, if you don't want to buy, don't. I'll have your share.

My reasoning is gold does well in financially turbulent times as it did in the 1970's and in the depression, but is an investment dog in good times as in the period from 1980 to 2000, we have

1. A massive credit bubble the first worldwide one (in the UK its bigger than the countries previous largest The South Sea Bubble) bursting with banks going insolvent, this credit bubble is the cause of the absurd house prices which this site is all about.

2. A demographic crisis,

3. Peak oil,

I am betting on financial chaos in the years ahead.

1. Get a bit of physical gold at home Krugerrands generally cheapest and most recognizable, sovereigns are exempt from GCT if you feel safe keeping more at home than I do.

2. Split the rest between Bullionvault and Goldmoney.

3. I am also in the process of moving a pension fund to Goldmoney held in a SIPP.

If you want learn more about gold Google is a good resource.

I just learnt that you can make gold thread!

wren

Pathetic, you lot never give up.

BTW look at my thread about Alexa Stats in the about hpc forum, you may learn something.

Yes, I've heard a bit about Alexa but will look at your thread.

Ta.