Quote:
Originally Posted by Momandboys
Hello,
I have fair amount of cash, 2 little guys on my own to raise, mediocroe job skills. I bought some gold and silver (more as life preservation than an investment) and I will try to buy a inexpensive home with a large garden area.
I keep hearing from top economists dollars will soon be very devalued. They say that in 1929 cash was King, but not in these times. This is distressing as I have saved so many years!
These economists keep mentioning to invest in Swiss Francs, Japanese Yen and the Singapore dollar. I have no idea how to do this...are there any people educated in this area? I am not investment savvy but I pulled all my money out of mutual funds several months ago and it is now in CDs. I have a gut feeling that things are going to get extremely bad.
THANKS for any educated insight!!
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Mom,
Investing in foreign currency is for those who have a lot of experience trading on the market. Short term CD and treasury bills are a good bet. Those who know how to scrimp and save will do just fine. It's the ones who are already sunk in debt and who don't know how to trim back their lifestyles who are going to struggle.
I think you'll be okay. Chin up!