Currency

Old Feb 18th 2013, 3:26 am
  #46  
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Default Re: Currency

Originally Posted by downunderpom View Post
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.
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!!
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Old Feb 18th 2013, 3:43 am
  #47  
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Default 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.
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Old Feb 18th 2013, 3:48 am
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Default Re: Currency

Originally Posted by Genesis View Post
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!!
Took a huge tumble because all of the gold futures came due, and everyone sold them. Hence the dip in price. Went straight back up again when China bought it all! (What was it - a hundred tonnes of physical gold bought by China in November, i think it was. Look it up.)

http://www.forbes.com/sites/gordonch...ities-of-gold/
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Old Feb 18th 2013, 3:50 am
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Default 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!
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Old Feb 18th 2013, 3:54 am
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Default Re: Currency

Originally Posted by julesnye View Post
Yeah, I've thought about but who would you use as there doesn't appear to be anyone like hifx around?
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.
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Old Feb 18th 2013, 6:38 pm
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Default Re: Currency

Originally Posted by downunderpom View Post
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.
cheers downunderpom, I'll take a look
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Old Feb 18th 2013, 8:55 pm
  #52  
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Default Re: Currency

Originally Posted by Genesis View Post
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.
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.
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Old Feb 18th 2013, 10:00 pm
  #53  
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Default 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.
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Old Feb 18th 2013, 10:26 pm
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Default 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.
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Old Feb 19th 2013, 2:36 am
  #55  
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Default Re: Currency

The high dollar is hurting.

Tourist spending lowest since 2001

http://www.nzherald.co.nz/business/n...ectid=10866358
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Old Feb 19th 2013, 2:36 am
  #56  
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Default Re: Currency

Originally Posted by Rolfie View Post
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.
It is a huge factor but has been a bit of 'the elephant in the room' on NZ's BE page. Most people don't seem to want to talk about it. I would have thought whether you have 5k gbp or 50k it will affect you in some way and things have never ever been this bad for the GBP. I too wonder why anyone comes to NZ or how they can afford to at these terrible rates. Like you I am an older BE person, moved when I was 45 with modest equity (never lived in any flash house..or flash area). Good luck.
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Old Feb 19th 2013, 2:38 am
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Default Re: Currency

Originally Posted by Robbie2010 View Post
The high dollar is hurting.

Tourist spending lowest since 2001

http://www.nzherald.co.nz/business/n...ectid=10866358
And it will continue to do so AND shows no sign of its surge abating. It is all very, very mental and apart from those who want a new TV or a fridge or you are going on hols or leaving NZ it is all bad when the currency IS so high.
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Old Feb 19th 2013, 2:40 am
  #58  
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Default Re: Currency

Originally Posted by downunderpom View Post
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.
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!!!!!
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Old Feb 19th 2013, 4:12 am
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Default Re: Currency

Originally Posted by Genesis View Post
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!!!!!
You sound like a spoilt brat / ungrateful child, NZ has been bloody good to you, enabling you to be mortgage free and a stay at home dad - get over it!
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Old Feb 19th 2013, 5:01 am
  #60  
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Default Re: Currency

Originally Posted by downunderpom View Post
There are several bullion dealers in NZ. I'd suggest comparing prices between UK & NZ before buying. No sense in bringing coals to Newcastle.
Good point, isn't there effectively one global price for gold??

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.
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