Careful, living on the Right Side of The Pond, I invested on the Left Side as I thought that the £ was on the way down internationally (as it was). My original investments on the Left Side were doing well until the crunch. I had too much in banks, Lehman in particular. That one cost me more than an average new auto.
Well, yeah, that's the trick. if you're trying to offset a currency that's going down by investing in a currency that's going up, or at least not going down as much, you have to get it right.
...and if you're going to ask advice on that, you probably want to ask someone more tapped in than I...
nate
Quite, I got it wrong!
I'm not but thanks for the advise!
Gold is useful only if there is a functioning economy that considers gold valuable.
Ammo and MREs are useful to tide you over until you get your first crop in. But to do that, you also need farming tools, seed, arable land, and farming skills.
-- Doug
And only if you have it in your hot little hands when The End Comes. I have never understood how gold held by dealer is going to do you any good if the reason the dealer is selling it (econ collapse) comes about.
Just break into your nearest hardware and you will get everything you need for a personal plot. Since, if The End Comes parks, great expanses of green around building, etc. will suddenly become available, I think the land part is largely a non-issue.. outside of the deserts of course.
In that regard, silver is probably more practical than gold. It is hard to make change. You are not going to give someone a Krugerrand for a loaf of bread but you might give them a silver dime or two. I have a friend who swears .22 ammo might pass as currency. The .22 rifle is probably the most prevalent gun in the US and you can use it to feed your family. I am not sure about that but I do have several thousand rounds, just in case. It is worth a lot more than GM stock
I agree, people will be tilling up those useless lawns and planting vegetables when things get tough.
Have something to add? Share your thoughts — no account required.
Ask the community — no account required