2009 - Where now to stash the cash

With the media and even the drinks cabinet (allegedly) openly talking about the spectre of the IMF arriving, where’s safe now for your squirreled dosh? Non-Irish banks (are the UK ones as safe as before, what about Switz, etc), Gold, German bonds (could they even default?). Do you trust the Govt on the guarantee?

Good question. Im thinking of moving everything to mya ccount in Oz. Little worried about currency fluctuations though,

Anglo-Irish Bank anyone?

3 year fixed rate at 5%.

Perfect for a low/deflationary environment!

I’d like to announce the opening of Crashandburn bank Ltd. The perfect place for your money!

Our most popular account is Mattress On-Demand paying 0% but money is 100% secure (although insurance may not cover large deposits in case of fire/theft) but hey, it’s instantly accessible. May even be warm on withdrawal!

Anybody know where to buy a sturdy/Fireproof safe?

Nate

I’ll let you use mine if you want :slight_smile:

Obviously since I don’t know you I can’t show you where it is… and we can’t have a paper trail… so how about I meet you in a desolate estate somewhere and you hand it all over to me then.
In return I promise to keep a very close eye on it :slight_smile:

Phew Thanks! I was beginning to worry I’d have nowhere safe for all my Zimbabwe dollars. Thanks magoko101 :stuck_out_tongue:

Nate

Perth Mint


Central fund of Canada
Bullionvault

Triodos Bank

Put your money in “Socks & Chairs” :smiley:

Put your money in bricks and mortar.

Put your money in a lubed up cigar tube, and put it where Papillon did…

Any serious ideas. Is Rabo bank more secure than Irish goverment ?

Triodos Bank

Seriously.

I know nothing about this bank. I’d just like to say that people should do some serious homework before depositing their hard earned cash in a bank in another jurisdiction.

Seriously, YES, Rabo is more secure than the Irish gov.

I think Rabo are fairly secure - though I’ve no real understanding of how secure any particular bank is - they don’t seem to know themselves. I’ve much of my savings with Rabo, despite their deposit rate being less competitive nowadays.

My problem is that I understand they’re effectively an Irish bank when operating here, so in a euro exit scenario (unlikely but a possibility) those savings will get converted to punts (overnight and with as little warning as possible to the little guy). I believe it’s not the case that the money is safely out of our government hands as some might hope.

I think it’s too complex, it would serious implications for the common market and the ratios for the likes of Rabo / NR / Ulster, etc…

Naturally that goes (almost) without saying. Triodos has been in existance since 1980, and styles itself an “ethical bank”, ie it only loans to projects meeting its ethical criterea, and more interesting only loans from funds actually on deposit - no LIBOR or other interbank borrowing. As its headquarters are in the Netherlands, it is covered by the Dutch deposit guarantee scheme, currently €100,000.

I just opened an account at Kit co.com for buying some gold/silver.

You then load up your account so that you can buy the metals.

That’s basically a foreign bank account then, isn’t it? I mean, they are holding funds for you. (No interest though)