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Is buying Gold a good idea if your British?

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  • Is buying Gold a good idea if your British?

    The $ will crash & Burn, but the £ might not, thus while ref the value of Gold in $ terms it will rocket, might it not in £ terms?
    Your thoughts Gents?
    Mike

  • #2
    Re: Is buying Gold a good idea if your British?

    Probably someone here in the US keeps track of their investments and makes decisions based on what the pound is doing, but I've never heard of them. Is there no British iTulip? You are a lost soul, as I perceive it, reading a US based and essentially focused site while apparently looking for information that would be applicable to being and investing in England. I can't imagine that one could make it beneficially work.
    Jim 69 y/o

    "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

    Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

    Good judgement comes from experience; experience comes from bad judgement. Unknown.

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    • #3
      Re: Is buying Gold a good idea if your British?

      Mega,

      It is an interesting question.

      The U.K. has just as much of a housing problem as the US does, the only difference is that the UK CB has been willing to jump up interest rates.

      I would predicate your decision based on whether you think this policy will continue, or that the government will eventually cave and try to help out all of those people being financially beaten to death by high interest rates.

      It certainly seems at this point the former but I'm not a close follower of events there.

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      • #4
        Re: Is buying Gold a good idea if your British?

        Mega -

        Bet on what's low, short what's high.

        The GBP is so high on the big mac index you need an oxygen tank to climb up there. But meanwhile debt in the UK is very high. If you widen the window for a pound correction out two or three years, probability gets quite good that Gold will run strongly against the GBP and so up sharply for UK investors.

        I posted on Jim's "when to buy gold stocks" thread about what's a much larger issue for precious metals than currency comparative values. That's the real story to watch for gold investors. You may have a much pleasanter weekend contemplating your gold purchases after reading it Mega. But you have to take a long term view - 5 - 10 years to see the inevitable outcome.

        Now ... When am I going to get my Fed Ex'd case of chilled -- blah, blah, blah, etc. etc. etc. ???

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