Currency
#46
Re: Currency
Ah, but what currency? The Yanks are busy printing their currency into oblivion - only the 'petrodollar', (in which all oil purchases must be made) is keeping that afloat. They will be generations earning that money back... http://www.usdebtclock.org/
And now that China and Russia are using gold to buy oil....
The Japanese seem to be flushing the yen down the toilet, as fast as it will go.
The Germans seem to be fed up with carrying the rest of Europe, and are getting their physical gold back from the New York depositories - wouldn't surprise me to see them dumping the Euro and going back to the Deutschmark, letting Spain, Italy and the like sink into the ocean.
Have any of you with 'large' GBP holdings considered transferring your stash into physical gold and/or silver? Silver is presently (IMHO) undervalued, being artificially downgraded. At least your money would retain it's value, no matter how far down the GBP drops, and you might even make a profit. Do your homework.... it's a bit of an eyeopener.
And good luck.
And now that China and Russia are using gold to buy oil....
The Japanese seem to be flushing the yen down the toilet, as fast as it will go.
The Germans seem to be fed up with carrying the rest of Europe, and are getting their physical gold back from the New York depositories - wouldn't surprise me to see them dumping the Euro and going back to the Deutschmark, letting Spain, Italy and the like sink into the ocean.
Have any of you with 'large' GBP holdings considered transferring your stash into physical gold and/or silver? Silver is presently (IMHO) undervalued, being artificially downgraded. At least your money would retain it's value, no matter how far down the GBP drops, and you might even make a profit. Do your homework.... it's a bit of an eyeopener.
And good luck.
#47
Re: Currency
If any country left the euro I wouldn't put money on it being Germany. Which currency you buy to devalue your own is irrelevant, better off with a diverse portfolio to hedge.
As it happens NZD is still underweight given our position as a food exporter, relativly appealing national balance sheet and continued economic performance. However we are still relitivly overweight on housing investment and low interest rates have really had an encouraging effect on speculation without an accompanying change in fundementals. It's still a house of cards.
As it happens NZD is still underweight given our position as a food exporter, relativly appealing national balance sheet and continued economic performance. However we are still relitivly overweight on housing investment and low interest rates have really had an encouraging effect on speculation without an accompanying change in fundementals. It's still a house of cards.
#48
Re: Currency
Never ever thought about speculating with the UK cash. Over the years I have lost so much money on shares, poor fiscal choices and with the NZ finace house debacle that quite frankly anything that is not a triple AAA investment is well avoided. Whilst you may well be right about silver bullion is such a gamble eh? Look at gold, it took a huge tumble the other day....the worst fall in 9 months. Way to risky for my conservative, boring appetite!!
http://www.forbes.com/sites/gordonch...ities-of-gold/
#49
Re: Currency
Nice thing about bullion - in your hands - is that it's real. You can feel it. You OWN it. You can sell it. If you have a piece of paper which says you're entitled to X amount of gold or silver you have nothing. A promisary note... wait! That's all that currency is!
I Do love the feel of Canadian Silver Maples!
I Do love the feel of Canadian Silver Maples!
#50
Re: Currency
I've had no trouble with them. But buy direct, not through TradeMe - they have to add TradeMe's commission on to those sales.
This is just an idea. This is what I have decided to do. What you do is up to you.
#51
Re: Currency
You're in NZ. So am I... I use these guys: http://www.bulliondeals.co.nz/
I've had no trouble with them. But buy direct, not through TradeMe - they have to add TradeMe's commission on to those sales.
This is just an idea. This is what I have decided to do. What you do is up to you.
I've had no trouble with them. But buy direct, not through TradeMe - they have to add TradeMe's commission on to those sales.
This is just an idea. This is what I have decided to do. What you do is up to you.
#52
Re: Currency
I feel for you Rolfie...why do things conspire agin us so much? Get my UK pensions cashed in coinciding with the worst forex rate in years. Have money in the UK that is all but stranded there for ever more. Really wanted it over here to get on with my life. I understand I am lucky to be here but the last 8 years in NZ have been so peppered with issues that its not funny anymore. Some people say 'you must have rocks in your head if you think the RBNZ should try to bring the value of the kiwi down'. Well if nothing is done and the kiwi keeps rising in the meteoric fashion it has how will that affect the already crippled export market of NZ, the tourism industry and people just plain not coming here to live and those that do live here will leave to cash in on their kiwis and live somewhere that was previously unaffordable? It all looks very, very bleak to me...unless I sell up and return to the UK.
#53
BE Enthusiast
Joined: Jan 2012
Location: St Albans, Christchurch
Posts: 586
Re: Currency
Do customs charge a tariff/GST on accompanied gold bullion at NZ airports?
Last time I came through NZ customs in June 2012 I had a suitcase of new medical equipment. I declared all these goods, expecting to be stopped and charged GST. The customs officer went away, came back and said to me that I was entitled to bring in new belongings from the UK for the first 5 years of my PR. Maybe next time I go back I should get a few GBP and bring over a valcambi 50g gold combibar.
Last time I came through NZ customs in June 2012 I had a suitcase of new medical equipment. I declared all these goods, expecting to be stopped and charged GST. The customs officer went away, came back and said to me that I was entitled to bring in new belongings from the UK for the first 5 years of my PR. Maybe next time I go back I should get a few GBP and bring over a valcambi 50g gold combibar.
#54
Re: Currency
Just did a bit of research:
"In New Zealand, there is no GST on the sale of pure gold bars/ingots, pure gold coins, pure silver bars/ingots, and pure silver coins.
Bullion products that are not pure gold (99.9%/.999) do incur GST because they are not fine gold. This includes American Eagles (22ct/91.6%), South African Krugerrands (22ct), and British Gold Sovereigns (22ct)."
So make sure it's pure, and you can bring in as much as you like, by the looks of it.
http://www.mygold.co.nz/frequently-asked-questions/
There are several bullion dealers in NZ. I'd suggest comparing prices between UK & NZ before buying. No sense in bringing coals to Newcastle.
"In New Zealand, there is no GST on the sale of pure gold bars/ingots, pure gold coins, pure silver bars/ingots, and pure silver coins.
Bullion products that are not pure gold (99.9%/.999) do incur GST because they are not fine gold. This includes American Eagles (22ct/91.6%), South African Krugerrands (22ct), and British Gold Sovereigns (22ct)."
So make sure it's pure, and you can bring in as much as you like, by the looks of it.
http://www.mygold.co.nz/frequently-asked-questions/
There are several bullion dealers in NZ. I'd suggest comparing prices between UK & NZ before buying. No sense in bringing coals to Newcastle.
#55
BE Enthusiast
Joined: May 2010
Posts: 526
Re: Currency
The high dollar is hurting.
Tourist spending lowest since 2001
http://www.nzherald.co.nz/business/n...ectid=10866358
Tourist spending lowest since 2001
http://www.nzherald.co.nz/business/n...ectid=10866358
#56
Re: Currency
Thanks Dom, I'm probably in the minority. I'm guessing that most folks on the forum are over/coming over in their 20's or 30's, with perhaps, not a lot of GBP, so the exchange rate won't have quite the effect it would have on folks like me. I still sympathise hugely with their situation. However, I wonder why anyone in the UK would cosider going to NZ at the current exchange rate. A good job opportunity might completely change that situation of course, but the exchange rate is a HUGE factor.
#57
Re: Currency
The high dollar is hurting.
Tourist spending lowest since 2001
http://www.nzherald.co.nz/business/n...ectid=10866358
Tourist spending lowest since 2001
http://www.nzherald.co.nz/business/n...ectid=10866358
#58
Re: Currency
Just did a bit of research:
"In New Zealand, there is no GST on the sale of pure gold bars/ingots, pure gold coins, pure silver bars/ingots, and pure silver coins.
Bullion products that are not pure gold (99.9%/.999) do incur GST because they are not fine gold. This includes American Eagles (22ct/91.6%), South African Krugerrands (22ct), and British Gold Sovereigns (22ct)."
So make sure it's pure, and you can bring in as much as you like, by the looks of it.
http://www.mygold.co.nz/frequently-asked-questions/
There are several bullion dealers in NZ. I'd suggest comparing prices between UK & NZ before buying. No sense in bringing coals to Newcastle.
"In New Zealand, there is no GST on the sale of pure gold bars/ingots, pure gold coins, pure silver bars/ingots, and pure silver coins.
Bullion products that are not pure gold (99.9%/.999) do incur GST because they are not fine gold. This includes American Eagles (22ct/91.6%), South African Krugerrands (22ct), and British Gold Sovereigns (22ct)."
So make sure it's pure, and you can bring in as much as you like, by the looks of it.
http://www.mygold.co.nz/frequently-asked-questions/
There are several bullion dealers in NZ. I'd suggest comparing prices between UK & NZ before buying. No sense in bringing coals to Newcastle.
#59
Re: Currency
That would be right in this stupid little country. GST on food so those who are really poor will suffer but anyone who has money to buy gold bars..go on fill your boots!!! It is the one thing that SHOULD be GST'd. I would expect it if I traded gold. It is an utter luxury...tax it!!!!!
#60
Re: Currency
So there is a point in holding it speculatively but not in moving it around. Its also heavy so will use up your hand luggage allowance rather quickly....
I'd expect buy gold with GBP/move gold/sell gold in NZD to be potentially more expensive then sell GBP to buy NZD as the buy and sell price of the gold will also allow for the currency rates but there will be two lots of dealer margin.