I ask this question as I can see short term difficulties for Iran and Long term difficulties for the "west".

My thoughts are if I was a developing country or a middle eastern country etc. I would reconsider my deposits in America and maybe Britain depending on which route we take.

America may be the largest or most influential economy at present, but is beginning to fade, and the financial institutions will be more flexible and allow themselves to be situated elsewhere.

Any thoughts?

How do I change Fund to Funds?

Oil price is going to continue to be high. Buy small oil companies that have been bashed down over the last year or so and are about to substantially increase production. My recommendation is Sefton Resources (SER). 5.5m market cap. 5.5P mid-price right now and i am looking for around 10p by this xmas.

See my post on the TOP thread for more info.

I was thinking more along the lines would you use a Bank which at its own whim stop your cheques?

My "feelings" are that it will make governments more cautious at depositing "Cash" in USA and GB if we follow suit. Also, I believe if China and Middle Eastern countries withdrew their deposits, overnight the dollar would drop into a black hole.

This would provoke economic chaos.

I don't think being in cash would be protection, ie I can see the advantages of gold.