What to do With the U.S. Dollar?

[Kris Riley]

I'm uncertain about investing money into anything right now. What should one do with ones savings if there is impending collapse of our dollar. Any suggestions?

[Mizar]

Suggestions? Sure, Buy Euro's and gold if you can get it, US Banks are failing every week, time for a defensive strategy.
M

[Kris Riley]

Thanks for the reply. That's a good idea, that is if a euro is really that stable. Is it? Gold will probably always be worth something at least, even if it goes up and down.

[THE eXchanger]

xxx

[Kris Riley]

Thanks exchanger and mizar, It wouldn't take that long to drive up north to do the business. I'm going to have to get moving.

Another thing. How would one go about spending these different currencies in the U.S. ? I would be pretty worried about getting a proper exchange rate. I know when I traveled through Canada recently. I knew that the Canadian dollar was worth more than the American, but they wouldn't give me the exchange rate while purchasing goods with Canadian in the U. S. They are still telling themselves that it's not worth as much as the U.S. dollar.

[Ampgod]

This is what you do...

BUY SILVER
BUY GOLD

MAKE SURE YOU HAVE ACTUAL POSSESSION OF THE METALS.



Peace,
Ampgod

[Kris Riley]

I think I'll go with the gold and silver. Thanks for the tips again. Any other suggestions?

[RSF]

Keep all your precious metals buried in a lead-lined box.

[Operator]

Hi,

Everybody is always talking about gold and silver. This is based on the assumption that there is something to barter for ...

My assumption is that in troubled times necessities become scarce. You will probably not be able to travel and stores will be empty.

You can't eat gold and silver ....

My proposal may not be the best one either but consider your circumstances and test if it could be an alternative for you:

1. Take care your money isn't IN the bank
2. You only need 'portable money' if you seriously plan to LEAVE ...

Otherwise there is a FAIL SAFE alternative:
Stockpile your home with food and other necessities. With inflation rising anyway this is a working alternative.
If none of the bad scenarios plays out it won't hurt you ...

But I have to underline: this is only an idea to consider if you have NO intention to leave

If you have necessities you can barter with that too by the way.

[QUESTINY]

Silver and Gold

This is not financial advice nor am I a Financial Planner...

This is a question on many people's mind. A couple thoughts. I agree with the other posts about Gold and Silver but I would encourage to buy only Silver at this time. Points to make. Silver is cheaper and more rare (look up the Hunts Bros do understand what I mean). It is easier to barter with in times of crisis. Silver is used more in business to make components and things. Gold is to hard to use as a currency in tough times. It will be hard to get change for a 1 OZ coin. There is talk about countries like Russia partially backing their currency with Silver to maintain a value. If this happens Silver will definitely be worth a lot more. The only reason why the metals are being hammered right now in the markets is because the price is only with paper ETF metals. ALWAYS, ALWAYS buy physical. Words to live by, if you don't hold it, you don't own it. This includes stocks and cash!

Dollar and Banks

Get as much cash out of the bank as you can. Keep enough in the bank that you can pay your bills with. You can always return to the bank and deposit your cash if you get low. I know you won't be collecting the interest but is it really enough to fight inflation? Only keep enough money in the bank that you are willing to lose if the bank collapses.

Your bank is FDIC insured. This means you are covered up to $100,000 for ALL bank accounts under your Social Security Number. This includes all banks. You will also have to prove to the bank that you had the money in the accounts. They don't have to prove to you that you had the money in their bank. I print out my bank statements every Friday by accessing the online banks statements. I encourage you to do the same.

NOTE: If you have corporations or LLC's and you are concerned about your bank. Contact me via Private Message and I'll discuss it with you.

IF you have retirement accounts. You are losing money, what the hell are you doing? Why are you letting the institutions take your hard earned money. If you are making money in your retirement accounts, congratulations, you are the only one.

One last thing about the FDIC. When IndyMac went under almost half of the 78 Billion in reserves went away to bail out the insured at IndyMac. Another big boy goes under and it could wipe out all the reserves at the FDIC. If you see on the news or hear that the FDIC has to borrow more money from the government to build back up their reserves, run away, run fast. Do all of the above and go to a local bank. Ask your local small bank how do they utilize their money? How much is spent on the community you live in? How much is is in the Real Estate maket? How much is spent on Funds and Bonds? If your local bank stays local then this is a good thing. Once you start seeing your community hurt bad by business's leaving, stores shut down, construction ceases, then you can worry about your small bank.

Other Currencies

I don't recommend going into other currencies because the banks that offer this service charge huge fees and they are big banks with to much exposure to problems. You will end up losing money in the end. The Euro will tank too eventually. You are already seeing it go down in value.

If you have questions please ask?

[Merlyn]

.
.
Kris and others,

Probably not a good idea to put all of your eggs (money) into one basket. Soi
some silver and gold is okay and also items to trade look around the Net there are lists by people who have been in bad situations and know what trades. Also do not forget your best asset your own health and friends and family.

Your own mind and thoughts are more valueable than a piece of paper called
money. Invest some time learning to use your thoughts. The following link will
provide an example of a person who is doing this and what can happen as a
result (see first post in the thread)

http://projectavalon.net/forum/showthread.php?t=742
.
.

[Kris Riley]

Great advice everyone. Does anyone have any experience with Blanchard?

[THE eXchanger]

we can buy hard silver/and, hard gold in canada
and, it is easy to do

[Rocky_Shorz]

a friend of mine is in the final stages of getting a gold mine reopened out in Colorado, last summer when I visited he took me up there so I could take a look at the mine.

we came to an intersection and suddenly I was drawn down the narrow path, I stopped and looked at the wall beside me and a large hunk of gold was glistening in the light.

I'm afraid its the only gold I have right now, but thought it was curiouos that I was attracted right to the point of finding it.

has anyone else experienced this?

[Mizar]

Kris;
You can get a Canadian bank account, you don't have to live here, and the insurance on deposits is technically better, that and you can do your banking online from home. You can have the account in Canadian $ or US $. With Fannie and Freddie gone, the FDIC is the next domino
M

[ophiuchus]

what do you do if the government outlaws possession of gold or silver? or,where do you keep it? or,how do you transport it? $50,000 of silver dollars is more than 100 bags which are very heavy. maybe this conceipt needs to be re-thought.

[Toymachines]

Why bury your precious metals in a lead lined box? Something to do with the feds outlawing gold and silver ownership in the future, so they can't find it?

[bluestix]

When you don't have any food or electricity you will see just how valuable that yummy gold and silver is.


If you really want to invest in precious metal buy NdB high power magnets and copper or stainless steel wire.

With these you can make high efficiency electrical generators so you will have electricity even if you have to pedal for it.

If you have electricity you can boil/distill water.

Invest in guns and bullets. (Those are precious metal)

Invest in bulk food and seeds.

Buy some warm winter clothes. It gets cold when you don't have central heating.


Buy some books that explain how to do basic things relevant to survival.


Or find some people who are more prepared then you and see if you can partner with them and let them decide what to spend the money on.

[sloper]

Don't forget Swiss government bonds folks. Not much yield but safe and reliable to hold savings.

[QUESTINY]

Originally Posted by sloper

Don't forget Swiss government bonds folks. Not much yield but safe and reliable to hold savings.

Doesn't the Swiss back their currency with 30% gold?

[Occum's Butter Knife]

I would like to share some resources I have used to stock up on food and water supplies.

I use thereadystore.com for much of my supplies.

I have used bulliondirect.com for gold and silver.

You all need to be able to heat the home in winter if necessay.

I have also been looking at portable solar cell systems that run all types of portable electronic devices. This would provide some small level of electic capacity since I no not own a generator.

Also Keep about 3 weeks of gasoline on hand as Hurricane Ike has demonstrated.

Let's keep the ideas comming!!

[Kris Riley]

Thanks bluestix for your reply. Good info there for everyone. Important to invest in heirloom seeds so to harvest the seeds again and again. We're presently shacking up with our grandparents who have been teaching us canning and gardening. Plus not to mention the stories they can tell us about living without all the stuff we do today. It's been good to connect with them. I knew the day would come when I'd be taking care of grandparents and parents, and I'm honored to be there for them. Keep the info coming. Thanks for the response to this thread. It's definitly giving me some understanding and direction. Peace

To Occum's Butter Knife, good post. Good info.

[Mizar]

Kris, you are way ahead of the pack, your canned goods will be worth their weight in Silver and Gold real soon, your grandparents have more knowledge that they have not told you yet, be sure to get all wisdom b4 they are gone.
M

[troopgear]

See Ya Kris.

[Kris Riley]

Ok troopgear, why would one want to buy 1oz bars instead of coins? Another thing. You are sounding hostile. Is it because people are trying the best they can to share what they know? I think if you have an expert knowledge, then it is greatly appreciated. You should start a thread and give some advise. That is what a lot of good people here are looking for right now and if you could share and be patient with us who know very little about this process, that would be swell.