I agree, BP. We have one road of people like that - and they're the ones on benefits who have all the time in the world but never volunteer for anything. Come SHTF I know that's where the trouble will come from.
SS - On the gold. My friend only knows one person well enough to ask such a personal question, so these figures are based on a sample of precisely one. It's also complicated by the changing value of the hryvnia, but as far as I can work it out it went like this:
In January he bought gold at UAH 9,700 per troy ounce - which at the (then) exchange rate of 0.075 comes in at about £730. That looks about right for the price of gold in early Jan.
Last week he sold gold at UAH 15,680, ie at a profit of 6,000. It's not as impressive as it looks when we convert it to sterling at today's rate of 0.054 - though it still comes in at £860, which is way higher than the £826 peak which is the highest I've seen over here. It suggests the bank were so keen to get their hands on a solid asset that they paid more than they'd need to on the international market.
But he's still made a bigger profit than the obvious £130 per ounce, because whatever the exchange rate, hryvnia in Crimea is worth as much as it ever was, and he's increased his holding by 6000 per ounce. Katya tells me he's using it now to buy lots of durable goods before the rouble comes in and hryvnia is worthless.
I have a small stock of gold myself, and have been regretting it while the price drops, but this gives me hope of it as a long term investment. In the event of a crisis it literally will be worth... well, gold.
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