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Re: Economic Crisis, who thinks now is the time to be purchasing
I have such a list but could not see how I could send you an attachment on this board. Send me an email I will send it to you.
Regards Jimbo
Re: Economic Crisis, who thinks now is the time to be purchasing
thanks Jimbo, sent email address via PM
Re: Economic Crisis, who thinks now is the time to be purchasing
You guys seem awfully anxious to spend your money early. The US unemployment hit 8.1% this past Friday, it will hit easily 10%+ before this thing even thinks about looking better. For now buy the IDR and stick it in Permata earning almost 11% or Bukopin earning 13%, each for a 1 month time deposit. Wait for it, wait for it......it will come, I have over 4 millyar just sitting in Bukopin earning 13.5% (renewal on Tuesday is at 13%) and I do not see a real window opening up for real deals for another 2 to 4 months. Don't be so anxious to buy property that will be cheaper in a few months when the owner is really in need of cash.
Re: Economic Crisis, who thinks now is the time to be purchasing
What you say is very true but (and I'm told it's a big one) I can't be assed to hang around waiting for a drop that will eventually come but who know when? I sure don't.
The whole thing is a bit like trying to shoot a bullet. Waiting for the Rup to depreciate and the IB to stop supporting it or run out of money, whichever happens first. Now that's one thing on the other side is the £ which my money is now in - it seems to be falling too, or actually all the currencies of the world seem to be falling except the $ (which, if you ask me means the other currencies are standing still and the $ is appreciating, but who am I?)
On top of that you have a really scary inflation here in Ind - well above the interest rate, by the way - I've heard around 18/20 percent. So your 13 percent interest account doesn't look so rosy either.
Frankly, I'm not sure what the right thing is to do but waiting may well be it... :?
Re: Economic Crisis, who thinks now is the time to be purchasing
If you want to convert from any currenct into IDR NOW and generate income, it's a good proposition. If 12 months ago, you would have lost 30% on exchange.Frankly, I'm not sure what the right thing is to do but waiting may well be it
The pound is screwed, in line with UK economy. The USD is, as the world's reserve currency, the best of a bad bunch and will continue to rise, at least in the short/medium term. Gold is also a safe haven from all paper currencies.
Re: Economic Crisis, who thinks now is the time to be purchasing
Originally Posted by sydneymike
True Mike but don't you think the US is going to finally take a major dive considering Bernanke has had the printing presses cranked up 24/7 for so many months.
As for Gold, you do knwo you can buy Gold inSGD in 1 KG certificates in UOB bank in Singapore? It is very easy and very safe UOB is the largest private bank in SIngapore and not associated with certain family that runs the island. I started buying it in this form since gold was 575 USD per oz and averaged more up to a price of 660 oz. We have 4kg on ertificates and I plan on buying another kg within the next month. The bitch is the only way to buy and sell is to do it face to face in Singapore at the bank.
Re: Economic Crisis, who thinks now is the time to be purchasing
2-3 years from now , yes, after we get beyond deflation. But then, Gold should become s good inflation hedge as opposed to the safe haven it is now. Could go to USD 2000/Oz.True Mike but don't you think the US is going to finally take a major dive considering Bernanke has had the printing presses cranked up 24/7 for so many months.
Re: Economic Crisis, who thinks now is the time to be purchasing
Not sure if you are familiar Jim Rogers (ex partner of George Soros from the 70's and 80's they both made billions and went their own ways) he has recently dumped America and moved to Singapore, I caught him on SIngapore CNBC last week saying he was dumping the rest of his USD by the end of the 2009. He has no faith in it. This is the same guy who was buying gold 4 yrs ago and shorting fannie and freddie 2 years ago.
Re: Economic Crisis, who thinks now is the time to be purchasing
Rogers is an assh*le and hasn't been right about anything for over 10 years. Believe him at your peril?
Re: Economic Crisis, who thinks now is the time to be purchasing
Jesus Mike he has called this financial meltdown 3 yrs ago, he called the surge in Gold 4 years ago. What has he been wrong about.
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