Tough Fiscal Advice

Ben6899

London_Falcon wrote:

Back to the credit card point that RC raised.

My strategy was to find one that gives the best rewards (1.5% back in Nectar points for example).

Set it up to pay off the full amount every month by Direct Debit - this gives you up to 6 weeks interest free credit but guaranteed no interest payments.

Use it for as much of your daily expenditure as possible but remember that anything big (new bike) will come out of your bank balance at the end of the month. Do not use it if it will bump you overdrawn.

A small example - say we spend £120 per week at Sainsburys. That £90 back in Nectar points from the credit card per year. Plus another £90 from my actual Nectar card that is registered with them. £50 a week petrol from sainsburys or BP is also double points.

Annual holiday goes on the nectar credit card - 1.5% back plus consumer protection if they go bust.

Longer post than was intended but final point - we went on a trip to new York a couple of years back and cashed in £700 of nectar points to pay for a large chunk of it and paying by DD means I have never paid a penny in interest.

This is very sound advice. Advice which I will take steps to heed after the weekend.

Cheers!

TheStone

gabriel959 wrote:

No, I am not planning to turning it back to the kind of paper we have got now. Not the kind one person can press a button and pop an extra £50bn in the economy at least.

I also don't expect gold to keep going up forever but look at the current economic scenario and I will tell you that for the foreseeable future gold will keep going up. I would be surprised if we are not close to $2000 before the end of the year.

100% agree.

Against a fiat currency being controlled by idiots, anything, even one that's seen such a large rise is a better option.

They're continuing to print more and more money to serve 3 purposes.
- Monetise all the new government debt (Zimbabwe style)
- Artificially control the debt market by printing and lending to the biggest borrower (govt), pushing interest rates down
- Decrease trust/value in the pound to force people to 'invest' their money, pushing up already inflated asset markets.

It will all end very badly. People will be astonished when they look back in 50 or 100 years and study these crazy decisions.