Changing doodahs in London
 

Have a stack of AED from selling the car I need to change into £ in London.

Any tips on best place to do it? Somewhere near Harrods?

Re: Changing doodahs in London
 

Wait until someone you know is coming back... you'll get sweet FA if you change it there! Made that mistake once and will never do it again...

Re: Changing doodahs in London
 

Er....... are we talking cash here? I mean.... you know.... a large wad of notes.......?

Oh dear...........

Re: Changing doodahs in London
 

Buy some investment gold bars with it. Unless you need the £££ urgently, it's going to hold its value far better than GBP, which the UK is busy printing to pay its debts at present (called 'QE' to make it sound clever rather than desperate).

Re: Changing doodahs in London
 

A completely fear based recommendation that wasn't solicited - the fellow asked about changing money to pounds in an area of London not hedging against inflation based on QE and fears that paper money will reduce in value.

Gold is hardly the best hedge against inflation, raising interest rates is. And that's not going to happen for a couple more years at least so enjoy the equity and property rise rather than hedging with gold - bloomberg hit the nail on the head:

http://www.bloomberg.com/apps/news?p...d=aF1zfwwrcA2w

N.

Re: Changing doodahs in London
 

That article is a year old and gold is now at US$1700... Gold is a hedge against inflation - rising interest rates is not a hedge, it is a means to control the problem.

then again - I've never understood 'buying gold'... seems an utterly pointless thing to buy.

Re: Changing doodahs in London
 

First rule of gold - it's just another currency, quoted like any other exchange rate. It also pays no interest (but you are charged for storage if you buy the physical stuff, and the price is offset if it's a mere paper transaction).

'Yes but what about jewellery demand?' No different from buying EUR because you want to pay for BMWs you are importing from Germany.

There is far too much attention paid to gold.

Re: Changing doodahs in London
 

Back in London eh? We got entertained by a tranvestite in a micro skirt and ill fitting black wig in a coffee shop in vauxhall on Sunday. Unofficially of course. Her rendition of goldfinger was inspired. I missed that madness. :thumbsup:

I changed my notes when friends returned for their summer holidays. An app told me the exchange rate, she swapped the dosh. I actually couldn't find anywhere close to home or work, but then I'm either in meeja hore south bank or Hitchin. Harrods is a good guess I reckon.

Welcome home. I've never forgotten your uplifting messages when I was unemployed and miserable. Hope everything is going well for you now. :starsmile: