GatKong |
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Tetris Mason
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Reged: 04/20/07
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Posts: 5908
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Loc: Sector 9
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I'm sober now. Gulp.
#251221 - 04/08/11 01:24 AM
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I heard a financial consultant being interviewed.
First he said "#1, pay off all your debt, house included if you have one, before you do anything else with your money."
Then the panel pushed him for advise where to invest their money.
"Invest? Don't invest. Protect." His advice... there are no smart investments right now... the impending currency collapse and the hyper-inflation it will cause will decimate any CD, stock, bond, treasury, mutual fund, or even money in your mattress. His advice... even at todays inflated prices... start moving all your financial assets into hard assets like precious metals and agricultural commodities. Nothing else will retain its value during hyperinflation except things with inherent intrinsic value. "You're not trying to grow your portfolio, you need to be trying to protect it from devaluation."
WOW.
More and more, this is the mantra of advisers. A year ago, it was just the radical "crackpots", nowadays, it's mainstream advice.
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EVERYBODY PANIC!!!
[Re: GatKong]
#251240 - 04/08/11 04:19 AM
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It makes all the pundits rich.
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Minutus cantorum, minutus balorum, minutus carborata descendum pantorum.
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Re: I'm sober now. Gulp.
[Re: GatKong]
#251249 - 04/08/11 05:38 AM
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> His advice... even at todays inflated prices... start moving all your financial
> assets into hard assets like precious metals and agricultural commodities. Nothing
> else will retain its value during hyperinflation except things with inherent
> intrinsic value. "You're not trying to grow your portfolio, you need to be trying to
> protect it from devaluation."
The problem I have with this kind of advice is that they always end up talking about investing in gold. There are very few applications where gold is the best or only metal that will work.
The only reason gold is "valuable" is because other people say that it's valuable. Sure, scarcity does have something to do with it, but gold just isn't that useful in the grand scheme of things. Basically, gold is used in jewelry, dentistry, electronics (in very small amounts I might add), and that's about it.
If you're talking metals, there are plenty of metals that are far more useful... aluminum, copper, lead, nickel, tin, zinc, just to name a few.
I've got a decent amount of money invested in lithium (think batteries) by way of my shares in the Chemical & Mining Co. of Chile (SQM).
I also have some money invested in uranium by way of my shares in Cameco Corporation (CCJ). I'm kicking myself because the stock dropped big-time right after the incident in Japan, then bounced right back up a few days later. I was going to buy on the dip but I waited too long and missed it.
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GroovyMAME support forum on BYOAC
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| Tomu Breidah |
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No Problems, Only Solutions
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Reged: 08/14/04
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Posts: 6826
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Loc: Neither here, nor there.
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Re: I'm sober now. Gulp.
[Re: GatKong]
#251259 - 04/08/11 07:46 AM
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When things get back on track... What will we need to do get the worth out of what we've protected or invested in?
Will it cost us our souls? 
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LEVEL-4
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Re: I'm sober now. Gulp.
[Re: GatKong]
#251302 - 04/08/11 08:32 PM
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> I heard a financial consultant being interviewed.
>
> First he said "#1, pay off all your debt, house included if you have one, before you
> do anything else with your money."
>
> Then the panel pushed him for advise where to invest their money.
>
> "Invest? Don't invest. Protect." His advice... there are no smart investments right
> now... the impending currency collapse and the hyper-inflation it will cause will
> decimate any CD, stock, bond, treasury, mutual fund, or even money in your mattress.
> His advice... even at todays inflated prices... start moving all your financial
> assets into hard assets like precious metals and agricultural commodities. Nothing
> else will retain its value during hyperinflation except things with inherent
> intrinsic value. "You're not trying to grow your portfolio, you need to be trying to
> protect it from devaluation."
>
> WOW.
>
> More and more, this is the mantra of advisers. A year ago, it was just the radical
> "crackpots", nowadays, it's mainstream advice.
Have you been to this site yet?
http://www.collapsenet.com/
Kevin Eshbach
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| Moose |
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Don't make me assume my ultimate form!
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Reged: 05/03/04
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Posts: 1483
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Loc: Outback, Australia
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Re: I'm sober now. Gulp.
[Re: krick]
#251395 - 04/10/11 01:20 AM
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>I was going to buy on the dip
> but I waited too long and missed it.
Me too. It was hard to tell what was going to happen (in Japan).
It's still hard to tell what's going to happen in Japan, because they are tightly controlling the flow of information.
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Moose
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Re: I'm sober now. Gulp.
[Re: krick]
#251410 - 04/10/11 05:51 AM
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> The problem I have with this kind of advice is that they always end up talking about
> investing in gold. There are very few applications where gold is the best or only
> metal that will work.
Gold only looks insanely high right now because it's quoted in USD, and there's no confidence in USD at the moment. If you look at the price of gold in CHF or AUD it's still below its peak.
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