Buy Gold And Keep It Under The Bed
Friday 27th November, chill air in the morning after another night of rain and wind. Is the flood weather over? Something feels different this morning. Yesterday I went down to my local branch of A Certain Very Big Building Society, to rearrange my small savings, a nice man at the counter having pointed out to me that I was getting no interest at all on any of it. Oh, right, I heard about that, I muttered, feeling caught out. I don't expect my assets to be fed turtle soup with a golden spoon (Dickens ref, can you name the novel?) but I do draw the line at putting my money out to hire for no wages whatever, that's cruel. So, anyway, I met my personal banking assistant, who suggested I try her best product, where you put your money down the saltmines for a six year stretch, and at the end it gets paid 12% guaranteed, but you could earn a lot more, as this fund is linked to major stock markets! Eerm, says I, doesn't that make rather less than 3% a year, and can't I get 3% guaranteed on a shorter term? Personal banking assistant a little taken aback, customers not supposed to be able to count. Well, yes, but you could make a lot more. Sorry, says I, diffidently, but the trouble is, I'm not one of the people who thinks the recession is over...At which, bless her, my personal banking assistant burst out laughing. "Oh God, no!" she cried. "Of course is isn't! Nothing like!"
Since you ask, I mainly ended up going for that new over-fifties deal, and that's me sorted again until the latest suite of "savings" accounts go dead. But dear reader (and if you are reading this, I bet you don't), should you have anything substantial to put aside right now take my advice, which is the advice of Bill Bonner over at The Daily Reckoning. Keep doing this until I tell you it's safe to adopt a different strategy. (Er, better if you don't let on to your neighbours, or the folk in the pub)
1Buy Gold.
2 Keep it in a sock under the mattress.