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Should UK savings be converted to gold or silver?

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posted on Oct, 17 2008 @ 09:38 AM
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My father has a few grand holed up in a savings account that isn't making much money because of a problem with the company that holds his money. I can't remember the name of the company, but it is a UK company with a blue and yellow logo. Sorry


Regardless, with inflation at around 4.4% and the finanical meltdown of sorts, should he be advised to convert some of his savings to gold and silver or other precious metals?




posted on Oct, 19 2008 @ 05:06 AM
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Well, If I was in his position then yes, you can't put faith in any currency at the moment. Act fast and put it into something that won't go worthless overnight.



posted on Oct, 19 2008 @ 06:26 AM
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google "bullion vault". I cant link you (against ATS rules), but check out that site. Very easy way to hold gold.

I would also reccommend buying shares as theyre dirt cheap at the moment. That option is only for the adventurous though!



posted on Oct, 19 2008 @ 07:43 AM
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So if the financial markets collapse and our currency becomes worthless your going to be walking a round with gold and silver stuffed in your pockets? The flip-side to this is what good is buying gold and silver and having it in a vault all nice and safe if you cant get your hands on it to trade with. Same applies to bonds/shares, no one will sell you anything based on what's written on a piece of paper..

Better to buy ordinary basic essentials that you can store somewhere *safe* that you can later trade with.



posted on Oct, 19 2008 @ 07:53 AM
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Tell him to buy shares in Blackwater.

The need for security is going to massively increase.



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