Invest in Sterling?

Marty_Orr

In a lot of other threads many are foreseeing the Euro going bust.

And i was wondering if it would be wise to change a large fraction of my savings into Pound Sterling just in case it does go bust.

Is it a smart move or no?

tsoparno

looks like it,swiss franc could be safer dollar bollocked as well.
ulster bank offering 3 percent on savings

andrew

moved to investments & markets

FlashD

You're a bit late to the party, 'many' have been foreseeing it ...for the past 3 years now and sure it's still with us.

Seems to be the trendy thing to say, if you're not saying it then its a bit like not being on the property ladder before 2008.

Personally if it does collapse, (which it won't), sterling will be collapsing with it, aren't we all tied into the EU in one form or shape.

Regards

Marty_Orr

FlashD wrote: »

You're a bit late to the party, 'many' have been foreseeing it ...for the past 3 years now and sure it's still with us.

Seems to be the trendy thing to say, if you're not saying it then its a bit like not being on the property ladder before 2008.

Personally if it does collapse, (which it won't), sterling will be collapsing with it, aren't we all tied into the EU in one form or shape.

Regards

so stay put for now? I was just advised to invest in some Sterling soon as the Euro is going to depreciate.

Merch

tsoparno wrote: »

looks like it,swiss franc could be safer dollar bollocked as well.
ulster bank offering 3 percent on savings

How does that help?if the deposit is in euro?? by which i mean does it?
I have an UB account and a BOI account, maybe I should switch my savings from one to the other (not that its much, but prefer not to let it devalue if such a thing is possible by moving most of it to UB)

Marty_Orr

AIB are giving 3.97% on a regular savers account

FlashD

A year ago I was going to open a sterling account myself, I waited a few months and changed my mind.

Then decided i'll send everything down to my Aussie account, waited another few months and changed my mind again.

A month ago after the Greeks got another bailout i'm thinking everything's calmed down for a bit so i'll hold out in Ireland for another while.

But the whole Spain / Italy craic is kicking off now straight after the near US default so it leaves me wondering.

REgards

sideswipe

FlashD wrote: »

A year ago I was going to open a sterling account myself, I waited a few months and changed my mind.

Then decided i'll send everything down to my Aussie account, waited another few months and changed my mind again.

A month ago after the Greeks got another bailout i'm thinking everything's calmed down for a bit so i'll hold out in Ireland for another while.

But the whole Spain / Italy craic is kicking off now straight after the near US default so it leaves me wondering.

REgards

Give it a month- I bet you change your mind!

irishh_bob

Marty_Orr wrote: »

In a lot of other threads many are foreseeing the Euro going bust.

And i was wondering if it would be wise to change a large fraction of my savings into Pound Sterling just in case it does go bust.

Is it a smart move or no?

a euro bought close to 90 pence sterling less than a month ago , today it buys around 86 pence , that said , i wouldnt buy sterling , the uk economy is flat and intrest rate rise is out of the question for a good while to come , nothing to suggest that currency will be strong going forward , its probably too late to get into the swiss franc , up 20% against the euro this year and that wasnt exactly from a low ebb either , if it was me , id keep what you need to live in the likes of rabbo direct and perhaps invest your savings in gold

checkcheek

FlashD wrote: »

Seems to be the trendy thing to say, if you're not saying it then its a bit like not being on the property ladder before 2008.

Personally if it does collapse, (which it won't), sterling will be collapsing with it, aren't we all tied into the EU in one form or shape.

Regards

Well people were kind of right that if they didnt get on the ladder back in 02-06 they never would because back then house prices may have been sky high but you pretty much were definitly going to get a mortage nowadays house may be cheap but your pretty lucky to get a mortage approved even if your in a good job

Marty_Orr wrote: »

In a lot of other threads many are foreseeing the Euro going bust.

And i was wondering if it would be wise to change a large fraction of my savings into Pound Sterling just in case it does go bust.

Is it a smart move or no?

Well if you put all your saving in sterling 5 years ago it would have lost 25% of its value by now


Plus the Uk is printing money like theres no tomorrow

TBH i have great faith in the euro, it may be going through a bad patch but its too big a currency to fall, if the euro goes, id say sterling and and the doller will be just as bad!!!

irishh_bob

checkcheek wrote: »

Well people were kind of right that if they didnt get on the ladder back in 02-06 they never would because back then house prices may have been sky high but you pretty much were definitly going to get a mortage nowadays house may be cheap but your pretty lucky to get a mortage approved even if your in a good job




Well if you put all your saving in sterling 5 years ago it would have lost 25% of its value by now


Plus the Uk is printing money like theres no tomorrow

TBH i have great faith in the euro, it may be going through a bad patch but its too big a currency to fall, if the euro goes, id say sterling and and the doller will be just as bad!!!

i dont think it will go either but i cant see anything but a weakened euro after all that debt is bought up

tsoparno

Merch wrote: »

How does that help?if the deposit is in euro?? by which i mean does it?
I have an UB account and a BOI account, maybe I should switch my savings from one to the other (not that its much, but prefer not to let it devalue if such a thing is possible by moving most of it to UB)

what i mean't was open a sterling account in ulster bank but from reading other comments ere nothing is safe.