I received an interesting email from a lady who is on holiday after me once telling her to invest in gold and silver.
Although her first language is Flemish, and like most Flems, she probably speaks French as well, she now speaks Afrikaans, and her English is also pretty good. She certainly manages to get her point across very succinctly, and I know she is a pretty wise business lady.
You may find her email, although short, will tell you how to survive in the difficult times ahead.
I was in Istanbul for the weekend and something that caught my eye in one of their bazaars was that there was an old man pushing a little cart in front of him and it said buy gold. They sell it in half kilo's but also in one ounces. It was quite interesting.
When I was in Belgium I went to a local guy who was a hairdresser. I was the only client there. This guy was also very interesting because he get quite a lot of business people who come to have their beards shaved. He told me that he only invest in silver and gold and he have a bit of land. He also said that he lives in another place in another town because it is difficult to see how much electricity you use when you also live in the same place [as you work].
He said.he also do not have people who work for him. He will rather take a little profit than lie and worry at night about his staff. He spoke a lot and told a lot about the economics. He keeps his ears open when people talk.
Have you been to Istanbul? It is a very nice place and there is still a lot to explore.
An interesting tale. I used to have a large business near Bond Street in the sixties and employed a lot of people. However, as more and more red tape increased I kept on downsizing and then went into sales and years later in the eighties became a freelance iT Journalist and although I only made a fiftieth of my previous empire, I had nothing to worry about but my annual tax returns.
I also know that Gold is a good investment, but not to buy Gold shares. One should by the actual metal. Krugerrands are a good buy and as you have to pay capital gains tax on them if you make more than £10,200 profit, you can always sell them to your spouse when you reach just below that figure, and your spouse can always sell them back when they then reach it again.
However, if you are a British resident, British gold coins are not subject to capital gains tax. Thus all post-1837 British gold sovereigns – because they are legal tender and have a legal tender face value - are capital gains tax free, which is obviously a massive benefit to investors vis-à-vis other gold investments.
Land is also a good investment as people will always need somewhere to live and the world is increasing at an enormous rate. I sometimes wonder if the race to bring immigrants into the UK by the previous government was designed to increase land profits. I would love to know how much land politicians own.
Wasn't too sure of the Belgium hairdresser's reasoning with reference to electricity and living in one town and working in another was? Perhaps someone can explain that to me.
And, as for silver, silver prices will continue to rise - they are used in computer motherboards and other electronic items for better conductivity of very low currents!