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Safest place for money during economic calamity?

Discussion in 'off topic' started by onlyconnect, Mar 20, 2020.

  1. onlyconnect

    onlyconnect pfm Member

    Asking for a friend.

  2. Darren L

    Darren L pfm Member

    Weekender, Ponty and Snufkin like this.
  3. Nero


    under the bed. No, Rolexes
    Weekender likes this.
  4. gintonic

    gintonic 50 shades of grey pussy cats

    under my physical or virtual bed...... send me physical cash or paypal/BT - I will take care of it for your friend.
    hifinutt likes this.
  5. stevec67

    stevec67 pfm Member

    Toilet rolls.
  6. gintonic

    gintonic 50 shades of grey pussy cats

    yes i have been buying toilet roll futures - good price a few months ago when the bottom fell out of the market
    PsB, Alex S, jtrade and 2 others like this.
  7. madmike

    madmike I feel much better now, I really do...

    Lego...never loses its value, and its washable!
  8. Bob McC

    Bob McC Living the life of Riley

    Under £85K fixed acc saver with a UK bank
    Currently best two year deal is 1.6%
    That’ll go within days if not hours.
    wylton likes this.
  9. PaulMB

    PaulMB pfm Member

    Nothing is safe. If one were very well-to-do, real estate in various countries, some gold, some cash in various currencies, some government or EIB bonds in various currencies, and right now buying into the stock market in blue chips. But, nothing is safe.
  10. wylton

    wylton pfm Member

    Year or two year fixed deals are the best, but even those are not going to keep up with inflation, and as Bob McC says, they'll be gone soon too, given that the Bank of England has reduced interest rates to almost zero.
  11. hifinutt

    hifinutt hifinutt

    the safest place ever !!

    onlyconnect and madmike like this.
  12. TheDecameron

    TheDecameron Unicorns fart glitter.

    Coincidentally, I was thinking shares in Jim Bakker’s dried soups.
  13. Ponty

    Ponty pfm Member

    Gold. Undervalued I think, currently oversold because liquidity enables traders to close out other positions.
    Dollars (gold is great as it’s priced in USD)
    Decent artwork
    A nice pair of Purdeys or Holland & Holland not a bad shout. Might come in handy as well.
    sam_cat likes this.
  14. Big Tabs

    Big Tabs hearing problems

    My missus reckons the government will issue bonds.

    I will wait to see if it happens. 5% would be interest/ing. (her guesstimate)

    Premium Bonds.

    Art, if you have an eye. Finals shows of Art-degree students, great place to pick up a bargain - but you might have to wait 20+ yrs for any value (if any)

    (future) Classic cars, if you have the storage space.

    Records. There are some releases that will only go up in price, in my opinion.
  15. BTC3

    BTC3 pfm Member

    I think @Ponty hit the nail on the head. CHF and gold. CHF will be stable to rising in value, followed by moderate, compensatory falls, and repeat, as the central bank intervenes to ensure the franc doesn’t appreciate too much. Gold, has been rising, but has room to grow especially if markets continue to tank.
    That said, depending on your timeline, GBP and general stocks and shares are depressed enough by the overall conditions that there should be some good upside as the world recovers (presuming it will) from a Corona.
    Last edited: Mar 20, 2020
    Ponty likes this.
  16. NeilR

    NeilR pfm Member

    I am in this situation, but the one thing that worries me is whether the banks will collapse taking our savings with them. But surely the Swiss will bail out their banks come what may?
  17. Alex S

    Alex S carbon based lifeform

    Chord Dacs.
  18. Tony L

    Tony L Administrator

    I suspect, were one that way inclined and had the budget, there will be some long-term bargains in property shortly. I’m sure there will be a lot of vultures carefully waiting for the inevitable bottoming out of that market fuelled partly by houses coming onto the market due to deaths, partly by unemployment and negative equity. I’m sure the trajectory is downwards for a while anyway.

    PS My ‘a better house for the future’ stash is in various managed building society stocks products, so has likely fallen through the floor with quite staggering velocity and kinetic energy. I’m too scared to look, but to be blunt I don’t really care. Far more important things than money to worry about at present...
  19. PhilofCas

    PhilofCas pfm Member

    Safest place?

    In my pocket last few days trying to buy toilet rolls.
  20. Ponty

    Ponty pfm Member

    I’m hoping that if the govt can effectively plug the economy for 3 - 6 months and prevent people from losing their jobs (which they seem to want to do), we could bounce back from this. Can you imagine the market reactions when vaccines are close! I think for those already in the markets, if you don’t need to sell anytime soon, ride it out (which is where I am...). Who knows. Worrying times but the banks are in better shape than 2008.
    BTC3 likes this.

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