kerrygreen

Forget the ins and outs of whether cashing in a QROPS is or isn't allowed - I'm just glad I've got my money out now. The global economy is in meltdown and there'll be **** all left in the pension companies coffers to pay anyone out in a few years.

Now, that's when the brown stuff will really hit the fan!!

Aside from all that - sure glad I aint living in England any more. Get more peace in Beirut!!

Mitzyboy

Oh God ..... I'm sure they said that after the Wall Street Crash as well.
Stocks and shares have been up and down for as long as stocks and shares existed ... its a long term investment and even right now Im up on what I started with now ... so thanks for the warning anyway

Im_and_Er

Often a stock market crashe is the best time to buy but it takes a bit of nerve and money you can afford to lose.

I've told my payroll manager to transfer my entire salary this month into my pension plan, as I did when the FTSE crashed to 3500 or so in 2009. Even with the recent fall to 5000 that's still 1500 points above that and overall it's done my pension funds no real harm.

The FTSE will be bounce back and I can wait

kerrygreen

You're mad I tells you. Mad I say!

This is different and will be sorted out as it always has been.

WAR

Im_and_Er

I could say the same about you but you're going to have to explain what the rest of your post is meant to mean, 'sorted out as it always has been - WAR ?

kerrygreen

Look what happened after the great depression of the 30s. WW2

And nowadays people have such a lot more to lose.

Any of the EU countries will not be the place to be in the near future as it is all going to implode. People will lose their savings and investments and what happened in the UK in the past few days will be replicated Euro-wide and a 100-fold

Mitzyboy

And what informed details lead you to this conclusion. What possible basis could you have for assuming that all the EU countries (that rely on each other in one way or another) are going to implode ..... and what value do your think your tidy little stash will have over our investments should that ever happen?

It's a good thing that the riots have died down, because it's a minority of chancers that are doing it for money, not for any great cause ... if they carried on for any time then the people and the government would have clamped down.

You are saying that the Great Depression lead to WW2
No, I think that was more to do with someone in Germany getting his rocks off.

kerrygreen

So when the EU cannot (or will not) bail out Spain and Italy, what do you think will happen in those countries. Already civil unrest in Greece.

If I was a German/French taxpayer I would be bloody livid at the continual bailing out.

Plus the plain fact that the bail outs will not work - ever. The peripheral EU nations need to leave and regain control of their own economies - not letting the Germans/French call the tune.

What's going on is not just another economic blip like we get every 20 years or so. This is meltdown of global financial markets.

The EU ideal is a truly evil political hybrid - unelected, undemocratic and answers to no-one.

Mitzyboy

Civil unrest in Greece was to do with Government cut backs

WW2 was about a mad man who thought he could rule the whole of Europe and had nothing to do with unrest or financial problems

Are you livid about all the foreign aid we send to countries all over the world - £8 billion I think at the moment?

I'd still love to know where you get this information about this Global meltdown thats going to happen.

kerrygreen

Here's a little snippet for you.

The euro is obviously the currency of the members of the Eurozone - but did you know that each country's euro notes are different. There is a registration number on every note with an initial letter before. The different letter pertains to each different country.

So when it all goes t!ts up the German euro will be worth more than, say, the Irish or Spanish euro and the countries which have had to leave the single currency can do so without the immediate need to start reprinting punts or pesetas with the obvious problems that would cause before the event.

Governments will not think twice about plundering pension funds to stave off the inevitable.

Domino

yeah and every one ensures only "their" currency is in circulation in their country. Don't remember the toll booth operators and restaurants complain when I gave them Spanish euros.

every country has the right to some of its own independence in this Eurovision, Spain is still dual pricing in Euro's and Peseta's

Mitzyboy

Yes, I was aware of that ... it's always been that way. But a euro is a euro.
I imagine living in your house must be very depressing ... you still aint told me where this is coming from.

kerrygreen

That's the point. A euro is not just a euro. If Ireland decided to leave the euro they could continue to use Irish issued euros until new punts are printed but their value would then be less than a German euro.

Not depressing at all, I welcome the break up of the euro experiment. My hard earned are going to buy kruggerands

Mitzyboy

At their high point
Thats a fine investment, but maybe a little too late

Domino

buying at a potential peak
may not go down much, but thats what usually happens

it only takes one dealer to think SA has a problem or local unrest and it will slip

I wont even play cards for matchsticks, don't like seeing by money go to someone else.