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Take the money and run? Or just buy sterling/dollars??

Take the money and run? Or just buy sterling/dollars??

Old Nov 27th 2011, 2:58 pm
  #1  
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Default Take the money and run? Or just buy sterling/dollars??

With various scenarios being mooted......Is it the time to keep a very close hand on your savings???? Buy a foreign currency, or sit it out....

I believe with the political objectives of the big three, the Mediterranean countries will be cast adrift and at last be responsible for their survival.....Sadly the outcome will be chaos for the financial institutions and extreme measures will have to be taken to ensure some modicum of calm....

I have never left more than is necessary to tick over in any account in Spain for the last 3 years......What do you think?

Last edited by The Beast; Nov 27th 2011 at 3:14 pm.
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Old Nov 27th 2011, 3:50 pm
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Default Re: Take the money and run? Or just buy sterling/dollars??

Too much money is involved, things will stay as they are, so not worth moving yours.
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Old Nov 27th 2011, 4:22 pm
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Default Re: Take the money and run? Or just buy sterling/dollars??

Or you might buy some US$ ( at 1,33 approx. now - pity you haven't @1,40 , a few weeks ago !? ) wait a bit until Merkel , Sarko , Monti , Draghi , ECB and their whole Axis of Evil give in/give up , then re-buy EUros at , say , 1.15 or even nearer to $ parity ?
Anyone's guess , the forces , directed from Berlin can continue to muddle through , yet they don't appear to have any answers , as the EUrozone sinks into a new Depression and street riots get organised , in many a place .
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Old Nov 27th 2011, 5:21 pm
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Default Re: Take the money and run? Or just buy sterling/dollars??

Originally Posted by The Beast View Post
With various scenarios being mooted......Is it the time to keep a very close hand on your savings???? Buy a foreign currency, or sit it out....

I believe with the political objectives of the big three, the Mediterranean countries will be cast adrift and at last be responsible for their survival.....Sadly the outcome will be chaos for the financial institutions and extreme measures will have to be taken to ensure some modicum of calm....

I have never left more than is necessary to tick over in any account in Spain for the last 3 years......What do you think?
I have usually only ever had a pittance in Spanish banks to tidy me over, however after a recent house sale I have a bit of a lump now and as yet I haven't been able to find a bank willing to pay me, unless I lock it away, they have lied to me in two banks and I have quickly moved it on.

After the scare and cost I had moving money from an offshore bank that was on the rocks (which eventually got took over and therefore saved) I am very worried about Spanish banks.

I work on the principal that if big named banks can go bust in the UK, what chance do the Spanish banks have.
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Old Nov 27th 2011, 8:08 pm
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Default Re: Take the money and run? Or just buy sterling/dollars??

Its time to take action now on your savings. The euro is in grave danger and some say its a 50/50 chance of being here by christmas. Personally i see the collapse in Jan or Feb 2012.


Spread your bets....... And dont rely on the UK POUND!!
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Old Nov 27th 2011, 9:08 pm
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Default Re: Take the money and run? Or just buy sterling/dollars??

Originally Posted by Kayak View Post


Spread your bets....... And dont rely on the UK POUND!!
Spain could be relying on help from the good old British pound soon, via the IMF! Remember when they used to tell us in these forums how well the Spanish had handled the crisis compared with UK.
http://www.telegraph.co.uk/finance/f...-the-euro.html
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Old Nov 28th 2011, 4:46 am
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Default Re: Take the money and run? Or just buy sterling/dollars??

I doubt that the Euro will fall, there is simply to much at stake & will upset their (Global Bankers) plans for a Federal Exchange in Europe.
Still time will tell.
http://www.youtube.com/watch?v=5CZr1...yer_detailpage

Last edited by VFR; Nov 28th 2011 at 4:48 am.
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Old Nov 28th 2011, 12:03 pm
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Default Re: Take the money and run? Or just buy sterling/dollars??

Originally Posted by agoreira View Post
Spain could be relying on help from the good old British pound soon, via the IMF! Remember when they used to tell us in these forums how well the Spanish had handled the crisis compared with UK.
http://www.telegraph.co.uk/finance/f...-the-euro.html
Another double dip in the UK announced today.
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