Has anyone taken any steps to protect their assets, in the event of the USD collapse?

[ashedfc]

James Turk: US Dollar & Euro both on destructive path

[ashedfc]

Now this comes from UN (can't be ignored) http://www.globalnews.ca/world/dolla...#ixzz1NUSQMMJr

[ashedfc]

The presentation was held on 29 April 2011 in Munich, Germany. Speaker James Turk of Gold Money Foundation
http://www.youtube.com/watch?v=qeQtp...yer_detailpage

[carlyincanada]

Ashedfc...Thanks for all the links & info! This is a real wake up call to everyone to get prepared just incase things get alot worse which I believe they will....The USA is bleeding jobs (400,000+) just in the last 15weeks & no real signs of this changing in the near future. And we all see the high gas/food prices....Best to be prepared then look the other way!

We have no debt (no credit cards or mortgage) & rent but would consider buying Silver (more affordable) so where would we start???

[carmanelectric]

While I am not all doom and gloom about it because I feel secure enough to weather the storm. The main reason is that I own my home outright. That allows for alot of flexibility. But if I still did have a mortgage I would likely lock in at 5 year rate.

I do stand to lose money with my stocks, but I bought my stocks with the understanding that I could afford to lose that money. I already have made my gravy off the good trades and whats left is the ones that I am waiting to perform. I live by the golden rule buy low sell high. This is actually the perfect market to buy low and make lots of money when they turn around. But it's high risk.

Oil is a good investment in the short term. It's already sitting high and will go higher, but as greener tech gets more momentum, it will lose the wind in it's sails. But it will still have a market for some time because plastic products.

If I were to invest in currencies, my main thought would be to look at the upcoming global super powers; India and China. Mind you India has too much instability in the region so China would be more appealing. But I think that there is still some uncertainty as China is still learning how to deal with the money they have made and has been avoid bringing up their interest rates, when they do, buying nations will start looking elsewhere to buy their product. Which would impact the GDP. Sooooo that would bring me back around to western currencies, Europe and US no.... Canada is the attractive money, and so is the Aussie Dollar. Aussie would be the best alternative to the loonie in my opinion.

Gold and silve are great investement, if you already bought in. But a little known fact is the government can expropriate gold if our economy really hits the fan.

RRSPs will suffer too, but unless you are close to retirement age, they have the time to stabilize and turn around after the bad weather.

Stockpiling tangeable consumable items is just good practice. I lived off my stockpile and only spent about $50 a month or less on groceries for months at a time. That's how I made it through school without a student loan.

I guess in general, my opinion is to secure yourself with basics to weather storm, don't have expectation of performance of investments during bad time (this will only stand to make you miserable). You'll have gravy another day.

[ashedfc]

For those who believe, currencies do not collapse at least the US Dollar: Here is an example of history, it has happened before in 1777-1781, the Continental Dollar.. check this.. http://4.bp.blogspot.com/-QYZaCQ73S8...l-crash_hi.jpg
.

[ashedfc]

US National Debt in a picture which explains it all



(they have already reached the maximum limit in May this year, & since May the borrowing is happening from Pension assets just to fund the month of June/July as a stop gap arrangement)...

[ashedfc]

Relative chart of US Debt limit vs Actual US Debt vs Gold Price: Notice the symmetry in all 3. Now as the debt limit gets increased, this chart explains clearly what's next "Higher Gold Price"

[carlyincanada]

Breaking news tonight!

United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt

Burden; Outlook Negative
http://www.standardandpoors.com/serv...ervalue3=UTF-8

Its gonna get ugly!!!

[carlyincanada]

[Lynn49]

Diversification is the key to portfolio investments..having a good balance in your funds..I experienced a 10% growth in mine over the past several months, just a little more than my hubby's...
Like 'they' say: don't put all your eggs into one basket...

[ashedfc]

Diversification is the key to portfolio investments..having a good balance in your funds..I experienced a 10% growth in mine over the past several months, just a little more than my hubby's...
Like 'they' say: don't put all your eggs into one basket...

10% is not a correct measurement, because it has to be relative to the rest (I mean when everyone is growing at 20% than 10% is too less, similarly when everyone including the economy is not growing or rather contracting, say at -5% than even 0% is a big return)
Past several months is not an ideal comparison, only because during this corresponding time frame, the world has seen its most unprecedented increase in money supply of this generation, as all over the world central banks were adding liquidity (by printing money & keeping interest rates low).... It has reached to an extent that their own balance sheet is impaired & now several Govt's are on the verge of default (aka bankruptcy) ... Downgrades of credit rating all-over Europe & US on friday is an clear indication.
The biggest question now is - how long this phase of monetary easing can continue; & what happens when it stops; because if it doesn't than we all are headed towards hyperinflation & currency destruction.

As far as diversification is concerned (its the mantra of the financial services industry to reduce risk & its regulated so it has to be followed, I fully agree.....) but the problem in diversification is that YOU end up holding Good;Bad & Worst alltogether almost everything.......

For example: Look at the last decade - Gold was the best performer among all asset class, but the financial services industry (because of its diversification regulatory restrictions) has prevented people from owning it........... & even today the general advice is to stay away from Gold. The reason, as mentioned today morning at the GATA conference in London, UK by Jim Rickards: Gold has not been taught for 30 years, almost 2 generations of financial advisers ignorant of gold. you need to educate

The bottom line: the advice you get from the advisor/planner is limited by his/her own knowledge (or his/her understanding of the economic events). Thats where most people get caught..

ASH

[Lynn49]

Are all of your clients in ALL gold?

When I'm l'm looking for an FA, what should I be looking for?

[ashedfc]

Are all of your clients in ALL gold?

When I'm l'm looking for an FA, what should I be looking for?

Not all, it does not match everyone's risk profile. But there are substantial number of clients who are heavyweight in this sector..& all those have benefited a lot..
Once you analyze what's going on in the real economy, you will reach a similar conclusion. Lot of people are not aware of the magnitude of the financial crisis the world is facing; & thats why the illusion of recovery/green shoots/etc/etc. Its all falling apart, so much so that, if the next round of money printing doesn't happens very soon, than we are heading into a depression (like the 1930's)..& if they print, than we will have very high inflation (both is not good for common man who is already tight in his day-to-day budget)......
In reality its the quadrillion dollar OTC derivatives where the problem is & can blow up the whole financial system that we have to watch & protect from.
Here's one example, AIG: http://www.lemetropolecafe.com/img20...Midas0822G.gif
&
compare it with Gold: http://www.lemetropolecafe.com/img20...Midas0822H.gif

Regarding your second question: its an open ended, & the answer can be written into several books. I mean there is no straight formula.