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As a precaution, I have increased the amount of cash on hand and moved most of my retirement money in blue chip stocks, municipal bonds (backed by revenue streams) and government securities. I am not sure what kind of turmoil we will haveModerator cut: political comment, but I am pessimistic about the future.
I normally have about 6 months worth of cash on hand (at home or in a safety deposit box), but I am increasing that to one year.
I am leaving the food stocks at one year. If it's worse than that, I will probably move in with the kids!
What do you think?
None of those financial investments will be relevant if the investments (or the dollar) drops to little or no value, but your food stocks will be priceless.
None of those financial investments will be relevant if the investments (or the dollar) drops to little or no value, but your food stocks will be priceless.
Yeah, but most of us have to also prep for the possibility that the dollar will still be worth a dollar.
Yeah, but most of us have to also prep for the possibility that the dollar will still be worth a dollar.
Quote:
Originally Posted by Garthur
The dollar has never remained static valued. It has constantly gone done in buying power.
The only assets that I can think of that maintain value has been farm land, gold, and silver.
Negative. The buying power of gold, silver, and land has fluctuated dramatically in the past 50 years (and probably since ancient times). Nothing really remains the same, but what I was referring to is that there is the possibility that 10 years from now, the fiat money of choice here in the US will still be the same as today, and it will still have some, though probably not the same, purchasing power.
Negative. The buying power of gold, silver, and land has fluctuated dramatically in the past 50 years (and probably since ancient times). Nothing really remains the same, but what I was referring to is that there is the possibility that 10 years from now, the fiat money of choice here in the US will still be the same as today, and it will still have some, though probably not the same, purchasing power.
Gold fluctuates based on the value of the dollar, but the dollar is the wrong standard to value gold. Gold has always been worth a fairly constant in buying power. It's difficult for the average person to understand this.
The current form of the dollar has only been around for only about 50 years. Before that, every dollar was based in gold. The reason for the government taking the dollar off the gold standard was to allow devaluation and the printing of dollars with no penalties. The total life of fiat currency in the history of the world has only been able to last 50-70 years. If you feel lucky then keep your assets in cash.
BTW the dollar is currency (not money)
only gold and silver is money.
President Trump has even admitted that the dollar needs to go back on the gold standard.
Yes, but if you shoot as badly as me, you first fire at the squirrel, and then
go capture it while it is rolling around on the ground laughing its ass off.
"None of the three has always maintained a level, let alone gone up."
Gold going from $35/ounce to almost $1660 (today's price) isn't considered to have "gone up" ?
The value of my farmland as measured in Federal Reserve Notes has doubled in 7 years. Either the value of the land has risen, or the value of the dollar has declined. Or both.
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