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| Financial & Legal short term investment / best return | esperance posted on 07/11/2009 at 10:41
 e-mail esperance | I am due to complete on the sale of my house in early january and will have the proceeds from the house to invest for a few months until I find another property - the bank are offering me 1% - can anyone recommend any other options ? - I don't want to tie it up though - thanks! | nissalabella replied on 07/11/2009 at 12:08
e-mail nissalabella | If you want to look at the following link:
www.ingdirect.fr
you'll find it's ever so easy to open a "LEO" - Livret d'Epargne Orange, there is no fee to get in, no limit, your money is available all the time by transfer onto your normal account, everything is done by Internet, they have a special offer now which gives you a guaranteed 3,5% for 3 months. I personally think they are excellent, and I've been a customer for several years now. Hope this helps, Cheers, Nissalabella
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| beckettspen replied on 07/11/2009 at 13:18
e-mail beckettspen | Bearing in mind the precarious times and situations in the currency, equities and investment markets... not to mention de facto negative interest rates from the banks... there's a reason why precious metals are making record highs...
In dollar terms gold is a shade under $1100 as we speak...
It made a record Euro high in March this year and is only 5% from its top...
Sterling price also peaked in March and is a mere 4% from it's previous high...
That aside... the mainstream media fail mostly to provide any real analysis as to where the price is going and why...
For example, the little reported story that the Indian government bought 200 tonnes of gold from the IMF... and they bought it when gold was at a record high in $ terms... i.e. $1050...
They increased their gold reserves by more than 50% at a record high...
What does this tell us...?
They think it's going higher... and the reason it's going higher, is because gold is 'money'... and not simply 'currency'...
Every central bank in the world is printing currency to counter this period of perceived deflation... and governments do this, history shows us that confidence in sovereign currencies (ergo debt) is eroded...
Gold and silver cannot be printed... and as such posses the one function of 'money' that currency cannot possess... i.e. it has 'intrinsic value'...
India knows this... and the so-called hard asset investors have always known it...
History and economies move in cycles... there are some when financial instruments have primacy as a unit of account... and there are cycles when societies revert back to hard assets...
I think there's little doubt that we're moving from one secular financial era into the next...
Commodities follow equities... and vice versa...
The Chinese government have have also been running advertisments on thsir state controlled channels advising citizens to buy gold and silver (youtube it, the links are there)...
They also understand that in periods of currency weakness... precious metals are the final unit of account...
Volatility is everywhere... but when you see the wild swings in the forex market... I'd go so far as to say that there are few safe port anywhere...
Protection of assets should be a primary concern... return, the second... but if we continue to print money while foreign central banks continue to buy gold... and my research tells me they will... then the gold and silver markets have a long way and many years to run...
Beckett
P.S. Only my opinion... please do your own due diligence...
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