Quote of the day 7th February 2017
Nick Herbert on his visit to flood hit areas of Cumbria
Please note that the post below was published more than ten year ago on 21st November 2009 Nick Herbert MP, shadow cabinet member for the Environment, Food, and Rural Affairs, was in Cumbria this morning to see the areas affected by the flooding. He writes on Conservative Home about his visit. Here is an extract. I’ve been in Cumbria today to see the areas affected by the floods. I arrived early in Keswick where I met officials from the Environment Agency. Although the river levels had fallen considerably and homes were no longer flooded, the damage to homes had been done. And the water which had got into houses wasn’t just from the river – it was foul water which had risen from the drains. I talked to fire crews who were pumping flood water back into the river, and discovered that they were from Tyne & Wear and Lancashire. They had been called in at an hours’ notice and had been working on the scene ever since, staying at a local hotel. You cannot fail to be impressed by the...
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Have a look into Goldmoney.com
And it is understandable that many governments choose to hold some of their asset reserves in the form of gold.
You just have to hope your country can avoid electing some fool who sells a lot of it off at the bottom of the market.
Its our old friend "the law of supply and demand"
Its more about using technology as a good storage of savings, see your account balance is held in gold, as much or as little as you want of it. but your gold is liquid, in that there is a prepay card attatched to the account, so you can spend your gold as a credit/debit card in what ever currency you like, you can use an ATM anywhere in the world, for free. (well any that use mastercard or Cirrus) which is pretty much all of them. Or at anytime you can demand your physical gold and they will mail it to (you do have to pay for postage for this)
They make money from personal account holders by selling gold 1/2% above spot. for the bigger user business accounts then there is also a storage fee.
The downside of holding accounts in gold is that it pays no interest, also it never gives dividends, so some people would prefer to take some risk with stocks in order to make profit.
But as a storage of your money, in these days of negative real terms interest rates, its a very clever idea.
so if you are that way inclined you can "text" 1oz of gold to someone in australia, once it clears (same time frame as banks) they can then withdraw that as Aussie $, spend aussie $ in debit card form, send the gold on to someone else or make a phone call and have a 1oz gold coin in their grubby little mits next day.
I think its a fantastic development.