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risk to credit with goodbodies account

  • 24-11-2010 10:15PM
    #1
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭


    something that occured to me this evening

    seeing as goodbodies are closely linked to AIB , in the event of a bank collapse , would credit in a goodbodies account be under threat


Comments

  • #2
    whysomoody
    Registered Users, Registered Users 2 Posts: 226 ✭✭whysomoody


    irishh_bob wrote: »
    something that occured to me this evening

    seeing as goodbodies are closely linked to AIB , in the event of a bank collapse , would credit in a goodbodies account be under threat

    If they hold your funds in segregated accounts then you are susceptible to that institution. I am sure they will be fine if held in Irish banks though, it would be too catastrophic to contemplate otherwise.


  • #3
    Beachband
    Registered Users, Registered Users 2 Posts: 181 ✭✭Beachband


    Goodbody's is owned by Fexco now.


  • #4
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    Beachband wrote: »
    Goodbody's is owned by Fexco now.

    not untill january they told me today


  • #5
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    irishh_bob wrote: »
    something that occured to me this evening

    seeing as goodbodies are closely linked to AIB , in the event of a bank collapse , would credit in a goodbodies account be under threat

    Your money is in danger wherever it is. paper currencies are being devalued, I'd suggest buying some commodities and hard assets.


  • #6
    whysomoody
    Registered Users, Registered Users 2 Posts: 226 ✭✭whysomoody


    WildBoots wrote: »
    Your money is in danger wherever it is. paper currencies are being devalued, I'd suggest buying some commodities and hard assets.

    I can say with 99% certainty this isn't good advice, as to the best of my knowledge tesco's will not accept Krugerrand or indeed any amount of lean hogs.

    Just make sure you're not with any one institution and you should be fine imo.


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  • #7
    mickman
    Closed Accounts Posts: 4,661 ✭✭✭mickman


    WildBoots wrote: »
    Your money is in danger wherever it is. paper currencies are being devalued, I'd suggest buying some commodities and hard assets.

    stupid suggestion


  • #8
    hmmm
    Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭hmmm


    They're required to keep client money in separate accounts.


  • #9
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    mickman wrote: »
    stupid suggestion

    What's wrong with it?


  • #10
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    @Wildbots, commodities have become weaker in the past few weeks because of:
    1. A stronger dollar (over the period)
    2. Rise in Margin requirements
    3. Chinese inflation fears.

    If you're entering now you've more than likely missed the boat. Better to buy commodities on pullbacks.


  • #11
    whysomoody
    Registered Users, Registered Users 2 Posts: 226 ✭✭whysomoody


    whysomoody wrote: »
    I can say with 99% certainty this isn't good advice, as to the best of my knowledge tesco's will not accept Krugerrand or indeed any amount of lean hogs.
    WildBoots wrote: »
    What's wrong with it?

    .


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  • #12
    WildBoots
    Closed Accounts Posts: 337 ✭✭WildBoots


    ixus wrote: »
    @Wildbots, commodities have become weaker in the past few weeks because of:
    1. A stronger dollar (over the period)
    2. Rise in Margin requirements
    3. Chinese inflation fears.

    If you're entering now you've more than likely missed the boat. Better to buy commodities on pullbacks.

    My core positions were entered into this summer, I'm adding a few junior miners here and there on dips. Gas will be a good play for the next few months imo, I'm even considering UNG.

    I'm surprised there's so little interest in commodities, I suppose time will show whether I'm mistaken about them or not!


  • #13
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    WildBoots wrote: »
    My core positions were entered into this summer, I'm adding a few junior miners here and there on dips. Gas will be a good play for the next few months imo, I'm even considering UNG.

    I'm surprised there's so little interest in commodities, I suppose time will show whether I'm mistaken about them or not!

    Start a thread on commodities or a specific sector (precious metal,energy,Ags,Softs) and see what happens.

    As for UNG, check out this guys blogs. I find him to be pretty well informed.


  • #14
    Mr_Roger_Bongos
    Registered Users, Registered Users 2 Posts: 1,470 ✭✭✭Mr_Roger_Bongos


    Can i ask what method you use to invest in commodities?

    Futures? Etfs? Index linked securites? Physical?


  • #15
    mickman
    Closed Accounts Posts: 4,661 ✭✭✭mickman


    WildBoots wrote: »
    Your money is in danger wherever it is. paper currencies are being devalued, I'd suggest buying some commodities and hard assets.


    what do you think will happen? everyone will stop using paper currency and we will all be trading in gold, there is 0% chance that will happen. some currencies will rise, some will fall, the same as has happened for a very long time.


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