Cyprus-Forum.com

[Londonrake]

Well, I've sold out and gone 100% cash. Don't say I didn't tell you.

You're in the sh*t if the banks decided to go cashless then? And it is very rapidly going that way! You then have to justify where you got any money from over a certain amount to pay it back into the bank because no one will accept cash. Won't affect me as I am not rich .... but I gather all the rich people, especially celebrities and footballers, are beginning to get a bit hot under the collar.

100% cash doesn't mean stashing it under your mattress. I did the same a year ago upon sage forecasts of a possible crash, due to the likes of the UK referendum and US election (funny ole fing).Converting shares/bonds etc into cash holdings in a pension fund.

Had I not, even sticking it all in a tracker would have got me 10 - 15%. The whole thing's a lottery, otherwise of course we would all be rich. Just like they were in 1929.

[Robin Hood]

Londonrake:

The whole thing's a lottery, otherwise of course we would all be rich. Just like they were in 1929.

Bingo! It's like betting on clouds ..... there one minute and gone the next. That is all shares are ...... posh betting slips!

[Robin Hood]

Well, I've sold out and gone 100% cash. Don't say I didn't tell you.

You're in the sh*t if the banks decided to go cashless then? And it is very rapidly going that way! You then have to justify where you got any money from over a certain amount to pay it back into the bank because no one will accept cash. Won't affect me as I am not rich .... but I gather all the rich people, especially celebrities and footballers, are beginning to get a bit hot under the collar.

That's not what it means in this context.

Well then, you have me confused. To go 100% cash is to go .... er ..... 100% cash? What am I missing here?

[Tim Drayton]

A poor financial expert is something of an oxymoron, isn't it?

[Robin Hood]

A poor financial expert is something of an oxymoron, isn't it?

I am asking a question which you obviously don't know the answer to? I have never in my life claimed to be an expert on anything ...... I am just better informed than many on certain subjects that appeal to me.

Financial expert .....definitely not ..... I relied on them and a very well know Investment Bank for their 'expertise' which is why I am poor today. I thought it was way above my abilities to understand but having been taken for a ride now, after some 13-14 years, i understand much more about the structure that makes the financial systems function. Conclusion .... it's a huge fraud!

That is why I asked you a question to see if you could explain when 'cash' is not really 'cash'..... so why not answer me?

LR:
You don't have cash invested ..... I am afraid 'cash' is only what it says........you have an IOU in the form of a Bond from the Pension fund. The Pension fund owes you ..... just like the Laiki Bank owed their customers, it was only an IOU in the customer accounts and the Banks defaulted on repayment.

Wasn't there a well established Pension fund some years ago, in the UK, that went to the wall and it was 20 years before investors saw any of their money back and then only a fraction of it? Many of them died before they got anything, but the receivers made millions!

[Londonrake]

LR:
You don't have cash invested ..... I am afraid 'cash' is only what it says........you have an IOU in the form of a Bond from the Pension fund. The Pension fund owes you ..... just like the Laiki Bank owed their customers, it was only an IOU in the customer accounts and the Banks defaulted on repayment.

Wasn't there a well established Pension fund some years ago, in the UK, that went to the wall and it was 20 years before investors saw any of their money back and then only a fraction of it? Many of them died before they got anything, but the receivers made millions!

I ain't goin' there. And you know it.

I did manage a world cruise, to buy a new Audi and spend a really nice month touring the western US states on some of the IOU though.

If a Mad Max Armageddon should come about, well, C'est la Vie.

[Robin Hood]

TD:

Don’t say you were not warned that cash under the bed will not be a good long term financial option. Limits on cash transactions, already just €500 in Greece, are only to limit terrorism financing though ...... if you believe that you will believe anything.

http://wolfstreet.com/2017/01/28/europe-limits-on-cash-transactions-war-on-cash/

Similar story but linked to the full EU document.

http://www.zerohedge.com/news/2017-01-27/europe-proposes-restrictions-payments-cash

[Robin Hood]

LR:
You don't have cash invested ..... I am afraid 'cash' is only what it says........you have an IOU in the form of a Bond from the Pension fund. The Pension fund owes you ..... just like the Laiki Bank owed their customers, it was only an IOU in the customer accounts and the Banks defaulted on repayment.

Wasn't there a well established Pension fund some years ago, in the UK, that went to the wall and it was 20 years before investors saw any of their money back and then only a fraction of it? Many of them died before they got anything, but the receivers made millions!

I ain't goin' there. And you know it.

I did manage a world cruise, to buy a new Audi and spend a really nice month touring the western US states on some of the IOU though.

If a Mad Max Armageddon should come about, well, C'est la Vie.

That's the way to do it ..... there are no pockets in a shroud. Spend it and enjoy it.

[Londonrake]

LR:
You don't have cash invested ..... I am afraid 'cash' is only what it says........you have an IOU in the form of a Bond from the Pension fund. The Pension fund owes you ..... just like the Laiki Bank owed their customers, it was only an IOU in the customer accounts and the Banks defaulted on repayment.

Wasn't there a well established Pension fund some years ago, in the UK, that went to the wall and it was 20 years before investors saw any of their money back and then only a fraction of it? Many of them died before they got anything, but the receivers made millions!

I ain't goin' there. And you know it.

I did manage a world cruise, to buy a new Audi and spend a really nice month touring the western US states on some of the IOU though.

If a Mad Max Armageddon should come about, well, C'est la Vie.

That's the way to do it ..... there are no pockets in a shroud. Spend it and enjoy it.

I even bought a bottle of wine with it once.

[Paphitis]

LR:
You don't have cash invested ..... I am afraid 'cash' is only what it says........you have an IOU in the form of a Bond from the Pension fund. The Pension fund owes you ..... just like the Laiki Bank owed their customers, it was only an IOU in the customer accounts and the Banks defaulted on repayment.

Wasn't there a well established Pension fund some years ago, in the UK, that went to the wall and it was 20 years before investors saw any of their money back and then only a fraction of it? Many of them died before they got anything, but the receivers made millions!

I ain't goin' there. And you know it.

I did manage a world cruise, to buy a new Audi and spend a really nice month touring the western US states on some of the IOU though.

If a Mad Max Armageddon should come about, well, C'est la Vie.

Armageddon is about 20,000 times more likely today than it ever has been under Carter, Reagan, Bush senior, Clinton, Bush junior, or Obama.

With the authoritarian nut-jobs in power, I wouldn't get too complacent or be so flippant. We are headed for a Nuclear arms race again. The very thing that ended with Reagan/Gorbachev. Why? don't ask me. I think it's friggin insanity personified and speaks volumes about the egotistical and dangerous nutters in power today.

We are also headed for a new Cold War as a result.

It's not a laughing matter.

BREXIT won't bring it, but Pootin and Trump might.