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Adam Munich

Sun Mar 27 2011, 07:49PM

Registered Member #2893 Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242

I went to home depot today:

Spray on shellac: $7
Wood putty: $3
Sanding block: $3

The us dollar sucks. Last year it was worth something like $1.15 in canadian, now it's $.98. So... I am thinking about converting my savings account to another currency, and well I'm wondering if it is a wise idea. With jobs leaving, 3 wars and the federal reserve printing money like mad I have a feeling that the us dollar isn't going up anytime soon. The yen however is (click 5 years).

Linas

Sun Mar 27 2011, 09:22PM

Registered Member #1143 Joined: Sun Nov 25 2007, 04:55PM
Location: Vilnius, Lithuania
Posts: 721

get gold , i believe is the best way to keep your money safe

[Edit: Image size]

Adam Munich

Sun Mar 27 2011, 09:26PM

Registered Member #2893 Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242

I wouldn't trust gold with any of my money. Look at that huge spike at the end of the graph, gold is obviously a bubble just waiting to pop. Plus with my luck it'll go back down to $40 an ounce if I buy a bunch.

Chris Russell

Sun Mar 27 2011, 09:55PM

... not Russel!
Registered Member #1 Joined: Thu Jan 26 2006, 12:18AM
Location: Tempe, Arizona
Posts: 1052

Gold isn't a half bad idea, actually, but I'd think carefully about buying it right now. The spike at the end of that graph is a result of the current financial crisis. If people regain confidence in the dollar, a good amount of that value will evaporate -- but certainly not all, or even most. If, on the other hand, the dollar collapses, that value is going to go through the roof.

Your best bet, in any case, is to diversify. It wouldn't be wise to trust any one currency or commodity with all your savings.

Adam Munich

Sun Mar 27 2011, 10:01PM

Registered Member #2893 Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242

Warren Buffett: "Look, You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all, not some- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils and have $1 trillion of play money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?"

If I were going to invest in metal I'd buy iron, aluminum, lead, tin or other useful commonalities. If the USD collapses so will the US economy, and thus US society. If all hell breaks loose, what would you rather have? Angle iron, sheet metal, aluminum and rebar or a small block of shiny gold?

dmg

Sun Mar 27 2011, 10:37PM

Registered Member #2628 Joined: Fri Jan 15 2010, 12:23AM
Location:
Posts: 627

^^^ Well put. when you really look how far technology has come.. gold has been pretty much reduced to shiny metal that cost alot of money.. there are other less expensive materials that could do its job in most practical applications.

Id much rather invest into equipment, firearms, and stock material then gold. money value or not afterwards, those items are far more usefull.

Im not saying aviod it all together, in fact use it while its worth something before that opportunity passes.

Ash Small

Sun Mar 27 2011, 11:57PM

Registered Member #3414 Joined: Sun Nov 14 2010, 05:05PM
Location: UK
Posts: 4245

Nickel and it's alloys, stainless steel, etc......

Chris Russell

Mon Mar 28 2011, 12:15AM

... not Russel!
Registered Member #1 Joined: Thu Jan 26 2006, 12:18AM
Location: Tempe, Arizona
Posts: 1052

Grenadier wrote ...

If the USD collapses so will the US economy, and thus US society. If all hell breaks loose, what would you rather have? Angle iron, sheet metal, aluminum and rebar or a small block of shiny gold?

I'd rather have a little of both. You're not going to be able to barter angle iron and farmland for gasoline in the initial weeks and months following a dramatic economic collapse. Likewise, you're not going to be able to barter shiny metal for food in a nation of starving people.

Adam Munich

Mon Mar 28 2011, 03:01AM

Registered Member #2893 Joined: Tue Jun 01 2010, 09:25PM
Location: Cali-forn. i. a.
Posts: 2242

With that logic it seems that buying a bunch of seeds and bags of topsoil would be the best option...

Chris Russell

Mon Mar 28 2011, 05:08AM

... not Russel!
Registered Member #1 Joined: Thu Jan 26 2006, 12:18AM
Location: Tempe, Arizona
Posts: 1052

Depends how bad you expect things to get. It's certainly not a terrible idea, but I don't think I'd make it a major part of my investment portfolio. Then again, I may be panhandling for tomato seeds in a few years, who knows...

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