Quote:
Originally Posted by Drwnite
Where is the safest place to put your cash where the best interest can be earnt ?  |
Well, therein lies the rub; how much risk do you really want to take?
Could you open an account in Iceland while visiting there to earn their higher rate of interest?
A Swiss numbered bank account (which have a very small rate of interest I understand, but are considered to be very "safe").
This guy came up with an answer, if you read into why he has done what he has done so far (as a multi-millionaire business man who got very frustrated with the UK retail/commercial banks):-
Your Savings | Burnley Savings and Loans
In the meantime, interest rates here in the UK are falling for no obvious reason; so, they are going from small to very small - of course, the government wants us all to spend so that they get increased tax revenue, but we are all waiting for prices to fall further.
Actually for "no obvious reason" = it is likely that interest rates fall because there is a "cash bubble", like an asset bubble; lots of companies in the UK are sitting on cash deposits but they don't have enough confidence in the economy to want to invest it.
Japan was mentioned earlier: they have been in a state of stagflation (stagnation of the economy coupled with deflation) for more than two decades.
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Dave
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