Cash under the Mattress

[MaryN]

Did anyone else read an article recently by one of the big Fund Manager (it might have been Fidelity but I can't find the article again); to sum up he suggested people start to keep funds in cash at home and to acquire solid assets (gold, silver?).

I know this is a recommended action, although I don't normally take too much notice of alarmist stuff, but this was an article by a reputable Manager and I must say that alarm bells started to go off. I wondered what he could see ahead and why he felt it necessary to issue a warning. He might be wrong (fingers crossed), but heads up, folks, this could be a timely warning.

[Mortblanc]

We really need a citation please.

So many of those "articles" are thinly veiled advertising from precious metals firms that it is staggering. I get two or three a day in my spam bin. All of them are from "leading financial experts". Sort of like having a retired police chief inspector advertise for your alarm service.

[MaryN]

[Mortblanc]

Yep, if you look down at the bottom of the page you see that it is an add for the Telegraph Investor, where you can trade stock and buy PMs.

[Straight Shooter]

I did tell you all back last year, nothing has changed.....do it now while you still can..just because the Greeks may well default this coming week.....( a bale in first may be forced ) that means the banks will close then they do a Cypress....steel 47% of YOUR MONEY all ATMs will only pay out limited amounts...if any....DO you think this will have no effect on us here in the UK ? THINK AGAIN it will have a global effect ! .....only keep money in a bank...any bank ! to cover your monthly outgoings ....or what you feel happy about loosing or moreover being stolen from you....WHAT will you loose if you do this 2/3 % interest ...by the time you consider inflation ....SWEET FA ....not rocket science is it !....wake up !

[Steve]

Yep, if you look down at the bottom of the page you see that it is an add for the Telegraph Investor, where you can trade stock and buy PMs.

And why would an investment service be recommending you keep cash under the mattress ? They have nothing to gain from it.

I'm a big fan of investing in alternatives, over the years I've bought various things including machine tools and associated consumables which have proved useful and will only appreciate.

My biggest win ( apart from the housing bubble ) was woodland, which netted me a profit of £80k over the crash period, as well as heating my house for five years.

At the moment I can't see much better than fertile land, although there are good returns available if you can find somewhere with a good sized stream / river that is near to a decent electrical connection - small sized hydro-generating is worth a look.

[Straight Shooter]

Excellent advice Steve ! cannot fault it !

[Spandex228]

Weather I'm right or wrong, I wouldn't buy gold or silver etc, as you can't eat it, keep warm off it, or run a vehicle or treat someone injured with it !!

[Straight Shooter]

Very true S228 but anything you hold be it food for your family or for barter, fuel,bottled gas,seeds,in fact anything in your possession can be used to maintain some sort of wealth ....i am not suggesting putting all your eggs in one basket ...far from it ,spread the risk in many areas as you can control.

[Spandex228]

Yes I completely agree