Best place to put your money in the UK?

Discussion in 'Economics' started by Lethn, Mar 2, 2010.

  1. Lethn

    Lethn

    So I'm going to try and shield myself from the recession if it comes about again which it almost certainly will if either of the main parties get elected. I've been trying to plot ways to actually keep my money as safe as possible. Of course, full reserve banking doesn't seem an option right now particularly since I haven't been able to find any in existance beyond you purchasing a bunch of gold and sitting on it for a few years.

    I'm looking at HSBC right now as the most likely option because of their links to the asian markets and they also haven't needed a bailout. I'm not really sure of any other banks in the UK that are probably going to do as well in this climate but I'm still glancing around if anyone can give advice that actually knows how the banking system works.
     
  2. Lethn

    Lethn

    Thanks! I figured it would be the best option, I've just been pondering over it because what I seriously don't want to happen is to suddenly save a ton of money and then lose it all because of the recession suddenly coming back sooner than everyone was predicting.
     
  3. Lowest credit risk is National Savings, it's the government bank.

    Ignore the short the pound people for now, the pound is about to rally 5-10 big figures in the next few weeks. But once it gets to say 1.55-1.60 (if it reaches there), I'd sell your pounds too. If I'm wrong then the pound will breach the recent lows 1.4778 and you can exit it there.
     
  4. ask hsbc to open a RMB denominated acct in hong kong
     
  5. buy gold and silver to counter inflation. we will get.
     
  6. Isnt HSBC one of those 2 or 3 banks thats shorting 96% of all silver contracts? When silver goes through the roof, I think HSBC will vanish in a matter of days.
     
  7. zdreg

    zdreg

    are u short hsbc?