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What to do with your money, or investments? If dollar collapses.
Last Post 12/08/2008 06:45 PM by Raven. 1 Replies.
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NewWorldOdorUser is Offline
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NewWorldOdor

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12/05/2008 01:53 PM  

Hello this is my 1st post here:

With the current economy in a steady decline, if someone is looking to get a sum of money, what should that person do if the dollar is expecting to collapse and be invaluable?

What happens to that money, what is the best thing one should do with it?

Thanks for any replies. Sorry if this has been discussed elsewhere, and if it doesn't make sense, or you don't understand.

Any suggestions on the matter is appreciated.

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Raven

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12/08/2008 06:45 PM  

Welcome NewWorld!

What to put your money in is a good question. If you want to be prepared for any future crisis then here is my advice:

Gold & Silver ~ Storable Food ~ Water Filters ~ Guns & Ammo

Those things should help get you through the fallout of an economic crisis.

We know that the elite want to devalue the dollar and bring in a new world currency. So how do you protect your wealth? Gold and silver. Gold and silver have kept their value for near 6,000 years, yet paper currencies cannot even keep the same value for 10 years. Understanding the gold and silver markets can be tricky though. Those markets currently are undergoing extreme manipulation through heavily-leveraged, paper, futures contracts which drive the price down. But the manipulation cannot go on much longer. Already we are seeing huge premiums on physical gold and silver as compared to the commodities spot price. In essence two prices for gold and silver are developing because of over manipulation. Even with the market manipulation, physical gold and silver are becoming harder and harder to find as many investors turn to these metals for security.

If there is a dollar crisis and it is no longer of any value then precious metals should help you weather the storm, but in what format should you have your precious metals in?

You need survival silver. This means small, easily traded silver coins. With the lack of a stable currency it will be hard to trade goods with your neighbor. But in all likly-hood people and stores will except silver and gold for goods, which historically has been the case. It will be hard to get a loaf or bread or a dozen eggs when all you have is a 10 oz bar of gold or a 100 oz bar of silver, most traders will not be able to break such a large chunck of precious metals. So you want small silver coins minted from reputable mints. Dimes, quarters, half dollars, and silver dollars made in the US in 1964 and before work great because they are 90% silver and are easily recognized. Also 1 oz. rounds are great, such as the Silver Eagles which are minted by the US government. Or 1 oz rounds from reputable private mints such as Johnson-Matthey and Englehard. this will allow you to obtain the small essentials like food, ammo and other survival necessities.

If you want to transfer your wealth away from the dollar and into something more stable, and you already have your survival silver covered, then consider gold. If you have 50 grand in the bank and it's loosing 10% of its value a year through inflation, then your wealth is wasting away. The stock market is too risky now to invest in. Transfer it to large chucks of gold and silver, which would be 10 and 100 oz. bars. In the future you can always trade these metals in for the "new" currency.

One last note: always take physical possession of your gold and silver, do not let a bank or mint hold it for you, do not buy paper certificates that promise a certain amount of precious metals. Do not buy precious metal mining company stocks or at least have a lot of physical metals first. Hide it in your house, in the attic, in the dry wall, in a safe, or just bury it! And when times get bad, make sure you have guns to protect yourself, your wealth and supplies from thugs.

You may need to act fast, as most cities have less than $50,000 of silver or gold in stock in the local coin shops and bullion dealers. Physical precious metals are being snatched up at an alarming rate.

Some of my favorite precious metal links:

SilverStockReport.com ~ Coinflation.com ~ APMEX.com ~ LibertyDollar.org ~ SilverSeek.com

"I'm giving you a choice, either put on these glasses or start eating that trash can..."
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