I Hate My Freaking Bank

[Naam]

Move it to Oz...

I don't know how easy it is for a foreigner to open a bank acount in Australia, or if you can even do it from abroad. Australia certainly is paying one of the best term deposit interest rates. I have been getting 6% consistently for the last 3 years, that usually for investing 6 months at a time, so your money isn't going to be tied up for years.

people who bought AUD 10 weeks ago lost 7%

p.s. anybody who considers investing in AUD has to move to "Oz" possesses a wealth of no idea

Edited May 9, 2012 by Naam

[Naam]

so what u suggest

is banker bs -ing me?

not just you .....everyone else who doesnt know any better as well

think of the banks "financial advisor " as a sales rep for financial products (nothing more ,nothing less)

he might even call himself an "independant financial advisor " and over you products from other banks

(this is making you think hes directing you to another deal for your own good but there will be some partnership somewhere between his company and the packages he offers )

think carefully before trusting any of these monkeys with all your money

[Naam]

I love this thread already.

me too!

[Naam]

Where's Naam when you need him?

Posted with Thaivisa App http://apps.thaivisa.com

busy test driving and checking a 43 year old car he intends to buy.

posted with Klingon App http://warrior_apps.org on subspace frequency.

[Naam]

or buy gold.

Why?

As precious metals and currency are controlled and manipulated by the same club.

There is no secure safety catch with the likes of gold.

Buy physical.

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

[cooked]

A house is definitely the best investment you can make in your life, so in Thailand that's out. Gold has always been a good long term investment, when the world banking system and the ATMs stop working, this is what will save your life /get you killed. Seems simple enough to me.

[w11guy]

<deleted>, stop complaining. Invest the money if you want a better return. Why should the banks pay you more than inflation? Try doing something yourself instead of expecting others to do things for you.

[StreetCowboy]

A house is definitely the best investment you can make in your life, so in Thailand that's out. Gold has always been a good long term investment, when the world banking system and the ATMs stop working, this is what will save your life /get you killed. Seems simple enough to me.

You'll want somewhere to sell your gold as well.

I imagine when the banking system hits the skids, the gold merchants might drop their offers a bit...

Invest it in something productive, like bullocks

SC

[Darrel]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

Not forgetting the effect of inflation and the possible cost/risk of ownership/storage.

[radiola]

i know what i do, i will make a grill for 3 million bht and i can wear it and after sell it

Edited May 9, 2012 by radiola

[radiola]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

Not forgetting the effect of inflation and the possible cost/risk of ownership/storage.

wow that is crazy

i think euro is very strong currency, and I will just keep it in euros

i have checked other banks and the only bank in europe that deals with euros is ireland bank that gives 3,5 % i think

[HardenedSoul]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

And those who bought it 3 or 4 years ago have gained 300%+

What's your point? That gold prices fluctuate and gains/losses have a direct correlation to the timing of acquisition and disposal?

Who'd've known, eh??

[impulse]

A house is definitely the best investment you can make in your life, so in Thailand that's out. Gold has always been a good long term investment, when the world banking system and the ATMs stop working, this is what will save your life /get you killed. Seems simple enough to me.

Yeah, just ask the millions of folks in the USA who are finding themselves underwater in their homes- many to the tune of hundreds of thousands of dollars. So far underwater it will take decades (if ever) to get whole again. If the banking system stops working, gold ain't gonna save you. The only investments that will matter are in food, guns, ammo and antibiotics. Hardly a valid scenario for which to plan a financial future.

[Khun Jean]

The best way to 'invest' money is to eliminate one by one the monthly costs.

If you rent a house, buy one with cash instead. If you lease a car, buy one with cash.

If you pay insurances month by month request a once per year payment and get a discount.

Buy a freezer and buy vegetables, meat etc. per kilo instead of per small portion.

All these things will save you around 5-10%. Not a bad 'roi'.

Physical Gold is good but only for a small percentage of your capital. I would suggest 10-15%. It is a safeguard against high inflation. You never know when governments (or FED) starts extracting money and cause a deflation, it would not be the first time. When that happens gold will plummet but it will still buy you about the same amount of goods.

Central banks creating money like there is no tomorrow, companies going bankrupt. It is all inflationary, so my bet is on that.

Paper gold is only good for short term speculation just like any stock or commodity on paper.

Edited May 9, 2012 by Khun Jean

[Darrel]

The best way to 'invest' money is to eliminate one by one the monthly costs.

If you rent a house, buy one with cash instead.............

All these things will save you around 5-10%. Not a bad 'roi'.

That depends.

The condo I'm renting for 120K/year is also up for sale at 3M and the owner is accepting no offers at the sort of levels I would be interested in. If I bought it I would lose the interest on 3M that I am getting and I would also have to pay the common fees and cable TV fee, which are being paid by the owner. And of course I would then have the maintenance to think about, and also would have to worry about a new building blocking my view or a noisy neighbour moving in next door.

OK, if you're paying rent of 200K/year and can buy your place for 2M then it might be of more interest, but only if you are the sort of idiot who pays 200K rent for a condo that's only worth 2M.

[Khun Jean]

The best way to 'invest' money is to eliminate one by one the monthly costs.

If you rent a house, buy one with cash instead.............

All these things will save you around 5-10%. Not a bad 'roi'.

That depends.

The condo I'm renting for 120K/year is also up for sale at 3M and the owner is accepting no offers at the sort of levels I would be interested in. If I bought it I would lose the interest on 3M that I am getting and I would also have to pay the common fees and cable TV fee, which are being paid by the owner. And of course I would then have the maintenance to think about, and also would have to worry about a new building blocking my view or a noisy neighbour moving in next door.

OK, if you're paying rent of 200K/year and can buy your place for 2M then it might be of more interest, but only if you are the sort of idiot who pays 200K rent for a condo that's only worth 2M.

Obviously not all ratios are around 1:100. But if your rent rises to 300k and the sale price rises to 5M, you would still not own anything of value. The rent can then be a much larger (even too large) part of your dispensable income.

Maybe look around for some that are better priced, or wait for a discounted one.

I live in a 4bedroom 120sqm for 11.000 baht a month (for sale for around 3M) but own many 25-35sqm that i rent out. Beats any offer the banks have.

Easily 10% and also an appreciation of the realestate, very inflation proof and it will never 'crash' like a stockmarket can do from time to time.

For every individual it is different, this is just my opinion.

Edited May 9, 2012 by Khun Jean

[Naam]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

And those who bought it 3 or 4 years ago have gained 300%+

What's your point? That gold prices fluctuate and gains/losses have a direct correlation to the timing of acquisition and disposal?

Who'd've known, eh??

my point: those who bought 32 years ago starved to death. who would have known in 1980, eh??

[Naam]

A house is definitely the best investment you can make in your life, so in Thailand that's out. Gold has always been a good long term investment, when the world banking system and the ATMs stop working, this is what will save your life /get you killed. Seems simple enough to me.

-a house is not con sidered an investment by people who's priority is "living".

-gold has been a shitty² investment for 26 years (1980 till 2006) and a shitty investment for 32 years (1980 till 2012). only those who bought during the last decade and early 70s gained.

[HardenedSoul]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

And those who bought it 3 or 4 years ago have gained 300%+

What's your point? That gold prices fluctuate and gains/losses have a direct correlation to the timing of acquisition and disposal?

Who'd've known, eh??

my point: those who bought 32 years ago starved to death. who would have known in 1980, eh??

No that's the point you want to make to support an anti-gold stance.

The point that leaps out since it is true of ANY investment, is that timing determines whether or not an investment is profitable.

I'm sure I could find statistics to decry stocks, bonds, property, tulips or whatever but that's pointless when the OP is looking for an alternative to his shitty bank.

Piping up to pour scorn on perfectly reasoanble suggestions like some smug know-it-all helps no one, does it?

[brit1984]

One lesson on investment that we all should have learnt from the last few years is that all investments have risks

Nobody in this thread has mentioned an asset class that isn't risky, because there isn't one

If you seriously want to de-risk your portfolio (which seems to be the OP's main objective); you need to focus on diversification

Anyone who puts all their wealth (or most of it) in one asset class is asking for trouble

[StreetCowboy]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

And those who bought it 3 or 4 years ago have gained 300%+

What's your point? That gold prices fluctuate and gains/losses have a direct correlation to the timing of acquisition and disposal?

Who'd've known, eh??

my point: those who bought 32 years ago starved to death. who would have known in 1980, eh??

No that's the point you want to make to support an anti-gold stance.

The point that leaps out since it is true of ANY investment, is that timing determines whether or not an investment is profitable.

I'm sure I could find statistics to decry stocks, bonds, property, tulips or whatever but that's pointless when the OP is looking for an alternative to his shitty bank.

Piping up to pour scorn on perfectly reasoanble suggestions like some smug know-it-all helps no one, does it?

Given the record high price of gold, and its dramatic rise compared other assets, this would seem like a great time to sell. Perhaps you could off-load some to Radiola. he seems daft enough. Or maybe Gravion is looking to invest

SC

[Naam]

No that's the point you want to make to support an anti-gold stance.

The point that leaps out since it is true of ANY investment, is that timing determines whether or not an investment is profitable.

I'm sure I could find statistics to decry stocks, bonds, property, tulips or whatever but that's pointless when the OP is looking for an alternative to his shitty bank.

Piping up to pour scorn on perfectly reasoanble suggestions like some smug know-it-all helps no one, does it?

to prove that your assumptions are based on ignorance... this is what i wrote in 2010 (Thaivisa gold forum my posting #3206) as far as gold is concerned:

"for the benefit of those TV-members who are looking for information i consider it my duty to point out flaws, incorrect facts and/or assumptions as well as wishy-washy or outright ridiculous claims.

disclaimer: i (actually "we") hold a substantial amount of physical, paper and 'mining' gold and after the 2009 mother load of investment opportunities (which are gone now) i see fair value in holding a certain percentage of gold because we are facing an uncertain future. but the afore-mentioned does not prevent that i keep on acting as 'advocatus diaboli' in this thread as a counterweight of goldbugs who float on cloud nine."

[HardenedSoul]

No that's the point you want to make to support an anti-gold stance.

The point that leaps out since it is true of ANY investment, is that timing determines whether or not an investment is profitable.

I'm sure I could find statistics to decry stocks, bonds, property, tulips or whatever but that's pointless when the OP is looking for an alternative to his shitty bank.

Piping up to pour scorn on perfectly reasoanble suggestions like some smug know-it-all helps no one, does it?

to prove that your assumptions are based on ignorance... this is what i wrote in 2010 (Thaivisa gold forum my posting #3206) as far as gold is concerned:

"for the benefit of those TV-members who are looking for information i consider it my duty to point out flaws, incorrect facts and/or assumptions as well as wishy-washy or outright ridiculous claims.

disclaimer: i (actually "we") hold a substantial amount of physical, paper and 'mining' gold and after the 2009 mother load of investment opportunities (which are gone now) i see fair value in holding a certain percentage of gold because we are facing an uncertain future. but the afore-mentioned does not prevent that i keep on acting as 'advocatus diaboli' in this thread as a counterweight of goldbugs who float on cloud nine."

I am not a goldbug; I am a gold bull. There's a big difference. I'm not emotional about investing and as soon as gold looks to be at or near its top, I'll have no qualms whatsoever about dumping the lot.

I've no interest in traipsing back through Thaivisa threads to look for instances where you've advocated holding gold. Frankly, to me, your opinion on the subject is about as relevant as Ben Bernanke's.

I'm commenting on what appears to be your predilection in this thread for slating other posters' suggestions without offering a sliver of useful advice to the OP.

[Khun Jean]

My investments are made with the idea to be less dependent on financial institutions.

Works great and returns are higher than ever.

I don't even have savings on a bank because those savings are really loans to the bank and i don't trust them.

The rate i would get does not compensate the risk.

[HardenedSoul]

Given the record high price of gold, and its dramatic rise compared other assets, this would seem like a great time to sell. Perhaps you could off-load some to Radiola. he seems daft enough. Or maybe Gravion is looking to invest

Thank you but no.

I see plenty of upside to gold in the coming years and plenty of down side to cash.

Having said that though, I'm pleased to have a modest stash of soon-to-be-worth-less folding with which to buy stocks and some more silver rather cheaply on the current dip.

[Javabear]

I've heard that Mongolian banks are paying 13.5% but I have no other information on it.

[Naam]

I am not a goldbug; I am a gold bull. There's a big difference. I'm not emotional about investing and as soon as gold looks to be at or near its top, I'll have no qualms whatsoever about dumping the lot.

I've no interest in traipsing back through Thaivisa threads to look for instances where you've advocated holding gold. Frankly, to me, your opinion on the subject is about as relevant as Ben Bernanke's.

I'm commenting on what appears to be your predilection in this thread for slating other posters' suggestions without offering a sliver of useful advice to the OP.

no advice is any day better than shitty advice.

you did not just comment, you assumed and commented based on your wrong assumption.

what you call my predilection were nothing but postings of hard facts which anybody can verify and none of your yada-yada yakety-yak will change these facts.

[bendix]

those who bought physical (or paper) gold eight months ago lost annualised 24.49%

And those who bought it 3 or 4 years ago have gained 300%+

What's your point? That gold prices fluctuate and gains/losses have a direct correlation to the timing of acquisition and disposal?

Who'd've known, eh??

my point: those who bought 32 years ago starved to death. who would have known in 1980, eh??

No that's the point you want to make to support an anti-gold stance.

The point that leaps out since it is true of ANY investment, is that timing determines whether or not an investment is profitable.

I'm sure I could find statistics to decry stocks, bonds, property, tulips or whatever but that's pointless when the OP is looking for an alternative to his shitty bank.

Piping up to pour scorn on perfectly reasoanble suggestions like some smug know-it-all helps no one, does it?

I think Naam's point is an attempt to counter-balance the oft-heard view that gold is a rock-solid safe investment. That that view is usually propagated by those who usually support their theory by worrying about when the banks collapse and ATMs die is neither here nor there.

Gold is not a safe investment. There is no such thing as a safe investment, because the prices of all assets go up and down depending upon a range of factors. Cash is least safe investment class of all, because it's the one asset that is guaranteed to lose value over time.

Noone is deriding gold. Most sensible people think that a certain and sensible exposure to gold and similar hard metals is an important part of a balanced investment portfolio. I myself have around 5% of my total net worth in either physical gold or gold-related shares.

The problem with gold-bugs though is that they tend to be so drawn up into the mythology of gold that they expose far too much of their wealth to the asset; then they become emotionally attached to it and spend all their lives searching for articles on the internet - usually written by fellow bugs, doomsday predictors or Illuminati - to support their thesis.

And when any one questions them, they get defensive.

[bendix]

Given the record high price of gold, and its dramatic rise compared other assets, this would seem like a great time to sell. Perhaps you could off-load some to Radiola. he seems daft enough. Or maybe Gravion is looking to invest

SC

We are nowhere near the record high price of inflation in real terms. That happened over three decades ago.

You do understand the concept of inflation, don't you?

We are also nowhere near the nominal record price of gold, for that matter.

[brit1984]

Given the record high price of gold, and its dramatic rise compared other assets, this would seem like a great time to sell. Perhaps you could off-load some to Radiola. he seems daft enough. Or maybe Gravion is looking to invest

SC

We are nowhere near the record high price of inflation in real terms. That happened over three decades ago.

You do understand the concept of inflation, don't you?

We are also nowhere near the nominal record price of gold, for that matter.

We are also nowhere nearer to defining a valuation method for measuring the intrinsic underlying value of gold