What to do With the U.S. Dollar?

THE eXchanger · 09-14-2008, 02:36 AM

xxx

Kris Riley · 09-14-2008, 02:39 AM

Thanks exchanger and mizar, It wouldn't take that long to drive up north to do the business. I'm going to have to get moving.

Another thing. How would one go about spending these different currencies in the U.S. ? I would be pretty worried about getting a proper exchange rate. I know when I traveled through Canada recently. I knew that the Canadian dollar was worth more than the American, but they wouldn't give me the exchange rate while purchasing goods with Canadian in the U. S. They are still telling themselves that it's not worth as much as the U.S. dollar.

Ampgod · 09-14-2008, 05:21 AM

This is what you do...

BUY SILVER
BUY GOLD

MAKE SURE YOU HAVE ACTUAL POSSESSION OF THE METALS.

Peace,
Ampgod

Kris Riley · 09-14-2008, 12:29 PM

I think I'll go with the gold and silver. Thanks for the tips again. Any other suggestions?

RSF · 09-14-2008, 01:20 PM

Keep all your precious metals buried in a lead-lined box.

Operator · 09-14-2008, 01:44 PM

Hi,

Everybody is always talking about gold and silver. This is based on the assumption that there is something to barter for ...

My assumption is that in troubled times necessities become scarce. You will probably not be able to travel and stores will be empty.

You can't eat gold and silver ....

My proposal may not be the best one either but consider your circumstances and test if it could be an alternative for you:

1. Take care your money isn't IN the bank
2. You only need 'portable money' if you seriously plan to LEAVE ...

Otherwise there is a FAIL SAFE alternative:
Stockpile your home with food and other necessities. With inflation rising anyway this is a working alternative.
If none of the bad scenarios plays out it won't hurt you ...

But I have to underline: this is only an idea to consider if you have NO intention to leave

If you have necessities you can barter with that too by the way.

QUESTINY · 09-14-2008, 01:58 PM

Silver and Gold

This is not financial advice nor am I a Financial Planner...

This is a question on many people's mind. A couple thoughts. I agree with the other posts about Gold and Silver but I would encourage to buy only Silver at this time. Points to make. Silver is cheaper and more rare (look up the Hunts Bros do understand what I mean). It is easier to barter with in times of crisis. Silver is used more in business to make components and things. Gold is to hard to use as a currency in tough times. It will be hard to get change for a 1 OZ coin. There is talk about countries like Russia partially backing their currency with Silver to maintain a value. If this happens Silver will definitely be worth a lot more. The only reason why the metals are being hammered right now in the markets is because the price is only with paper ETF metals. ALWAYS, ALWAYS buy physical. Words to live by, if you don't hold it, you don't own it. This includes stocks and cash!

Dollar and Banks

Get as much cash out of the bank as you can. Keep enough in the bank that you can pay your bills with. You can always return to the bank and deposit your cash if you get low. I know you won't be collecting the interest but is it really enough to fight inflation? Only keep enough money in the bank that you are willing to lose if the bank collapses.

Your bank is FDIC insured. This means you are covered up to $100,000 for ALL bank accounts under your Social Security Number. This includes all banks. You will also have to prove to the bank that you had the money in the accounts. They don't have to prove to you that you had the money in their bank. I print out my bank statements every Friday by accessing the online banks statements. I encourage you to do the same.

NOTE: If you have corporations or LLC's and you are concerned about your bank. Contact me via Private Message and I'll discuss it with you.

IF you have retirement accounts. You are losing money, what the hell are you doing? Why are you letting the institutions take your hard earned money. If you are making money in your retirement accounts, congratulations, you are the only one.

One last thing about the FDIC. When IndyMac went under almost half of the 78 Billion in reserves went away to bail out the insured at IndyMac. Another big boy goes under and it could wipe out all the reserves at the FDIC. If you see on the news or hear that the FDIC has to borrow more money from the government to build back up their reserves, run away, run fast. Do all of the above and go to a local bank. Ask your local small bank how do they utilize their money? How much is spent on the community you live in? How much is is in the Real Estate maket? How much is spent on Funds and Bonds? If your local bank stays local then this is a good thing. Once you start seeing your community hurt bad by business's leaving, stores shut down, construction ceases, then you can worry about your small bank.

Other Currencies

I don't recommend going into other currencies because the banks that offer this service charge huge fees and they are big banks with to much exposure to problems. You will end up losing money in the end. The Euro will tank too eventually. You are already seeing it go down in value.

If you have questions please ask?

noelnewell · 09-15-2008, 08:45 PM

According to George Green, get some "junk silver" old silver dimes for easier spending should the dollar no longer be accepted anywhere. He carries on him $5000.00 of gold coin so he can leave on a momen'ts notice. Seeing as that is about all I do have, this is not practical for me.

troopgear · 09-15-2008, 08:55 PM

1

09-14-2008, 02:36 AM	#1
THE eXchanger Avalon Senior Member Join Date: Aug 2008 Location: Spiritual eXplorer-Canada Posts: 4,915	Re: What to do With the U.S. Dollar? xxx Last edited by THE eXchanger; 09-21-2009 at 04:08 AM.

09-14-2008, 02:39 AM	#2
Kris Riley Avalon Senior Member Join Date: Sep 2008 Posts: 32	Re: What to do With the U.S. Dollar? Thanks exchanger and mizar, It wouldn't take that long to drive up north to do the business. I'm going to have to get moving. Another thing. How would one go about spending these different currencies in the U.S. ? I would be pretty worried about getting a proper exchange rate. I know when I traveled through Canada recently. I knew that the Canadian dollar was worth more than the American, but they wouldn't give me the exchange rate while purchasing goods with Canadian in the U. S. They are still telling themselves that it's not worth as much as the U.S. dollar. Last edited by Kris Riley; 09-14-2008 at 02:47 AM.

09-14-2008, 05:21 AM	#3
Ampgod Avalon Senior Member Join Date: Sep 2008 Posts: 310	Re: What to do With the U.S. Dollar? This is what you do... BUY SILVER BUY GOLD MAKE SURE YOU HAVE ACTUAL POSSESSION OF THE METALS. Peace, Ampgod

09-14-2008, 12:29 PM	#4
Kris Riley Avalon Senior Member Join Date: Sep 2008 Posts: 32	Re: What to do With the U.S. Dollar? I think I'll go with the gold and silver. Thanks for the tips again. Any other suggestions?

09-14-2008, 01:20 PM	#5
RSF Avalon Senior Member Join Date: Sep 2008 Location: Canada Posts: 226	Re: What to do With the U.S. Dollar? Keep all your precious metals buried in a lead-lined box.

09-14-2008, 01:44 PM	#6
Operator Avalon Senior Member Join Date: Sep 2008 Location: Caribbean Posts: 375	Re: What to do With the U.S. Dollar? Hi, Everybody is always talking about gold and silver. This is based on the assumption that there is something to barter for ... My assumption is that in troubled times necessities become scarce. You will probably not be able to travel and stores will be empty. You can't eat gold and silver .... My proposal may not be the best one either but consider your circumstances and test if it could be an alternative for you: 1. Take care your money isn't IN the bank 2. You only need 'portable money' if you seriously plan to LEAVE ... Otherwise there is a FAIL SAFE alternative: Stockpile your home with food and other necessities. With inflation rising anyway this is a working alternative. If none of the bad scenarios plays out it won't hurt you ... But I have to underline: this is only an idea to consider if you have NO intention to leave If you have necessities you can barter with that too by the way.

09-14-2008, 01:58 PM	#7
QUESTINY Avalon Senior Member Join Date: Sep 2008 Location: Nebraska Posts: 407	Re: What to do With the U.S. Dollar? Silver and Gold This is not financial advice nor am I a Financial Planner... This is a question on many people's mind. A couple thoughts. I agree with the other posts about Gold and Silver but I would encourage to buy only Silver at this time. Points to make. Silver is cheaper and more rare (look up the Hunts Bros do understand what I mean). It is easier to barter with in times of crisis. Silver is used more in business to make components and things. Gold is to hard to use as a currency in tough times. It will be hard to get change for a 1 OZ coin. There is talk about countries like Russia partially backing their currency with Silver to maintain a value. If this happens Silver will definitely be worth a lot more. The only reason why the metals are being hammered right now in the markets is because the price is only with paper ETF metals. ALWAYS, ALWAYS buy physical. Words to live by, if you don't hold it, you don't own it. This includes stocks and cash! Dollar and Banks Get as much cash out of the bank as you can. Keep enough in the bank that you can pay your bills with. You can always return to the bank and deposit your cash if you get low. I know you won't be collecting the interest but is it really enough to fight inflation? Only keep enough money in the bank that you are willing to lose if the bank collapses. Your bank is FDIC insured. This means you are covered up to $100,000 for ALL bank accounts under your Social Security Number. This includes all banks. You will also have to prove to the bank that you had the money in the accounts. They don't have to prove to you that you had the money in their bank. I print out my bank statements every Friday by accessing the online banks statements. I encourage you to do the same. NOTE: If you have corporations or LLC's and you are concerned about your bank. Contact me via Private Message and I'll discuss it with you. IF you have retirement accounts. You are losing money, what the hell are you doing? Why are you letting the institutions take your hard earned money. If you are making money in your retirement accounts, congratulations, you are the only one. One last thing about the FDIC. When IndyMac went under almost half of the 78 Billion in reserves went away to bail out the insured at IndyMac. Another big boy goes under and it could wipe out all the reserves at the FDIC. If you see on the news or hear that the FDIC has to borrow more money from the government to build back up their reserves, run away, run fast. Do all of the above and go to a local bank. Ask your local small bank how do they utilize their money? How much is spent on the community you live in? How much is is in the Real Estate maket? How much is spent on Funds and Bonds? If your local bank stays local then this is a good thing. Once you start seeing your community hurt bad by business's leaving, stores shut down, construction ceases, then you can worry about your small bank. Other Currencies I don't recommend going into other currencies because the banks that offer this service charge huge fees and they are big banks with to much exposure to problems. You will end up losing money in the end. The Euro will tank too eventually. You are already seeing it go down in value. If you have questions please ask?

09-15-2008, 08:45 PM	#8
noelnewell Avalon Senior Member Join Date: Sep 2008 Posts: 21	Re: What to do With the U.S. Dollar? According to George Green, get some "junk silver" old silver dimes for easier spending should the dollar no longer be accepted anywhere. He carries on him $5000.00 of gold coin so he can leave on a momen'ts notice. Seeing as that is about all I do have, this is not practical for me.

09-15-2008, 08:55 PM	#9
troopgear Banned Join Date: Sep 2008 Location: Depends on the time of year!!! Posts: 68	Re: What to do With the U.S. Dollar? 1 Last edited by troopgear; 09-17-2008 at 02:33 AM.