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Where do you stash your money?

Where do you stash your money?

Old Mar 17th 2012, 1:36 pm
  #16  
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Default Re: Where do you stash your money?

You could try HSBC for a 13% fixed rate deposit - the currency is VND

There are some 1 yr fixed rate deposits with the Turkish lire (the banks are covered by the Government)

For further info : http://time.deposits.org/
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Old Mar 17th 2012, 1:36 pm
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Default Re: Where do you stash your money?

Ponzi?
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Old Mar 17th 2012, 2:13 pm
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Default Re: Where do you stash your money?

Originally Posted by UKCityGent
You could try HSBC for a 13% fixed rate deposit - the currency is VND

There are some 1 yr fixed rate deposits with the Turkish lire (the banks are covered by the Government)

For further info : http://time.deposits.org/
Everyone I deal with is convinced that the lire is set for a devaluation. When you go there everything is way too expensive - it has to devalue.
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Old Mar 17th 2012, 6:28 pm
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Default Re: Where do you stash your money?

Originally Posted by Millhouse
Everyone I deal with is convinced that the lire is set for a devaluation. When you go there everything is way too expensive - it has to devalue.
Devaluation is definitely a scenario i would consider if i was investing my money there - however recently as last year that central banks were selling dollar (upto $750m per day) to protect the currency; the growth rate for turkey is approx 10% (greater than china); the lira's recent decline can no longer be justified by economic fundamentals, and risks accelerating inflation possibly.

I would take a short term punt for a 1 yr fixed deposit as part of a larger strategic asset allocation on my portfolio - however other peoples risk levels are different to mine
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Old Mar 18th 2012, 9:57 am
  #20  
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Default Re: Where do you stash your money?

Originally Posted by mentalist
As I said, it's actually 11.25%. Its simply called a Fixed Rate deposit so hardly any risk whatsoever. As for currency devaluation, its equally likely to appreciate in value against the US dollar. Better than the 0.1% offered elsewhere. I'm still waiting to hear your more profitable alternatives.
I know of legit litigation funds that give 12%15% PA for 2-3 years with Capital Protection but I also know a smart investor spreads their money around and doesn't rely on any one thing.

11.25% sounds very high for Fixed Rate Deposit account - better than some emerging market bonds.

N.
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Old Mar 18th 2012, 9:58 am
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Default Re: Where do you stash your money?

Originally Posted by UKCityGent
You could try HSBC for a 13% fixed rate deposit - the currency is VND

There are some 1 yr fixed rate deposits with the Turkish lire (the banks are covered by the Government)

For further info : http://time.deposits.org/
And the minimum amount for investing is this?

N.
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Old Mar 18th 2012, 10:14 am
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Default Re: Where do you stash your money?

Originally Posted by Norm_uk
And the minimum amount for investing is this?

N.
I believe VND10m (which is approx US$4.8K), the rest of the info is on the website
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Old Mar 18th 2012, 1:46 pm
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Default Re: Where do you stash your money?

Originally Posted by UKCityGent
I believe VND10m (which is approx US$4.8K), the rest of the info is on the website
500m VND (+/- 230k USD) to get 13%. Plus you need to live there in order for it to apply.

Not a bad return though.
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Old Mar 18th 2012, 5:10 pm
  #24  
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Default Re: Where do you stash your money?

http://www.lmaustralia.com/Downloads...P_exc_AUD.aspx

the only place I've seen offering those kind of rates is the above, and we got conned big style. we're stuck in an "old" fund of LM, that they closed down, and they won't release the money. crooks.
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Old Mar 18th 2012, 10:20 pm
  #25  
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Default Re: Where do you stash your money?

"Cash" can be hard to define, normally a catch somewhere, and where the "cash" is invested can be unclear.

The name of the game is to diversify with your investments, don't put all your eggs in one basket.

When the banks went belly up, cash was the least safe investment, and many people were unaware that their money was in Iceland.
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