Cash - Where to put it?

[glenn_r]

I have a couple of term deposits rolling over next month and was wondering what other people are currently doing with their cash as the RBA is tipped to cut another 1% next week, bank interest is not very flash ?

 

[Sean K]

I have a couple of term deposits rolling over next month and was wondering what other people are currently doing with their cash as the RBA is tipped to cut another 1% next week, bank interest is not very flash ?

I've PM'd my bank details glenn.

Cheers!

 

[glenn_r]

The PM hasn't arrived, can you send it again Kennas, thanks.

 

[Ageo]

I've PM'd my bank details glenn.

Cheers!

how nice of you

 

[Glen48]

This is most likely not the right place but I have a bloke form Japan so he claims and he wants me to send him $5K for option trading on Gold they have a web site NextFutures and he tells me it is controlled by the Jap security etc????
I get 2 calls a day wanting me to get going..... any ideas i smell a rat yet can't find any thing wrong and he knows his stuff.

 

[Ageo]

This is most likely not the right place but I have a bloke form Japan so he claims and he wants me to send him $5K for option trading on Gold they have a web site NextFutures and he tells me it is controlled by the Jap security etc????
I get 2 calls a day wanting me to get going..... any ideas i smell a rat yet can't find any thing wrong and he knows his stuff.

Tell him you will only send him 5k once 2 naked Jap women come over and give you a nice body massage

smells like a rat mate

 

[glenn_r]

Well it looks like being a bank tart and opening up new accounts to get the honeymoon bonus interest rate looks like the best bet for the time being.

 

[prawn_86]

You could give it to a struggling student to pay off his HECS... : (think of that warm fuzzy feeling you will get)

 

[gfresh]

It is an interesting question right about now.. next Tuesday will be even more interesting. Looks like even the best accounts will be paying under 4% before tax next week.

Looks like the best option may actually be to invest it in something once again...

 

[MrBurns]

This is most likely not the right place but I have a bloke form Japan so he claims and he wants me to send him $5K for option trading on Gold they have a web site NextFutures and he tells me it is controlled by the Jap security etc????
I get 2 calls a day wanting me to get going..... any ideas i smell a rat yet can't find any thing wrong and he knows his stuff.

Ask him for $5k see how you go.
Dont even think about it. He calls you ? ask for his number so you can call him back then give it to the fed police, then get your number changed.

Or the best way to get rid of him is to tell him you're broke and can he lend you the $5k

 

[MrBurns]

It is an interesting question right about now.. next Tuesday will be even more interesting. Looks like even the best accounts will be paying under 4% before tax next week.

Looks like the best option may actually be to invest it in something once again...

I got 4.000 something % , I roll it over monthly in case I want to use it.

 

[glenn_r]

It is an interesting question right about now.. next Tuesday will be even more interesting. Looks like even the best accounts will be paying under 4% before tax next week.

Looks like the best option may actually be to invest it in something once again...

Yes, I'm quite interested to see the market sentiment after this current reporting period, the yield and franking credits on some of the blue chips are starting to look very attractive when compared to bank interest.

 

[sinner]

Get a bank account in Sth Africa. 30-90 day term deposits at 10% and same rate for most of their bank accounts.

http://www.standardbank.co.za/SBIC/Frontdoor_02_05/0,2358,3447_1091713_0,00.html

Check out the "Fixed Deposits" link.

 

[MS+Tradesim]

This is most likely not the right place but I have a bloke form Japan so he claims and he wants me to send him $5K for option trading on Gold they have a web site NextFutures and he tells me it is controlled by the Jap security etc????
I get 2 calls a day wanting me to get going..... any ideas i smell a rat yet can't find any thing wrong and he knows his stuff.

Glenn,

Sounds like they're targeting a few people. Tell them to **** off.

https://www.aussiestockforums.com/forums/showthread.php?p=391053#post391053

 

[prawn_86]

Get a bank account in Sth Africa. 30-90 day term deposits at 10% and same rate for most of their bank accounts.

http://www.standardbank.co.za/SBIC/Frontdoor_02_05/0,2358,3447_1091713_0,00.html

Check out the "Fixed Deposits" link.

What about the FX rate though? In theory the FX rate should take into account the interest differential between the two countries

 

[nunthewiser]

Thinks glen should play along a lil and get as many details he can ESPECIALLY a contact number .

post it all here and then perhaps we can have some fun with em in our spare time

 

[MrBurns]

Get a bank account in Sth Africa. 30-90 day term deposits at 10% and same rate for most of their bank accounts.

http://www.standardbank.co.za/SBIC/Frontdoor_02_05/0,2358,3447_1091713_0,00.html

Check out the "Fixed Deposits" link.

Looks as solid as a rock, have you got money in there ?

 

[prawn_86]

What about the FX rate though? In theory the FX rate should take into account the interest differential between the two countries

Also you should be able to open a Eurodollar (other currency) account here in Aus, and recieve the same rate through the major banks, but again its the FX rate that should make it not worthwhile in theory.

Otherwise technically what your are doing is a FX interest rate arbitrage trade

 

[Trevor_S]

I got 4.000 something % , I roll it over monthly in case I want to use it.

I get 4.75% with Rabobanks cash management account account but as stated, it's only going to get less. If capital preservation is a priority in the short term, or for those that rely on a fixed income from cash, things will only deterioate, I think there will be a 2 in front of the RBA cash rate sooner rather then later.

As Warren Buffett said recently

Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts

 

[MrBurns]

Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts

I agree with that but it's a matter of timing, dont want to wade into the market yet and it's also too soon for property.