Plan for economic crash

By Anonymous Questions, May 13, 2014

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

Many economic experts are predicting another economic crash like or worse than we saw in the 1970s with ultra high interest and high inflation. That is no surprise with the government spending more than they have for years. I would not be surprised there is no gold in Ft. Knox either.

I would like to request the stock gumshoe plan on how to protect our wealth through these times? I would imagine all your members have the same question.

What changes is the gumshoe making to protect his fortune?

Is the US Dollar doomed and if so what can we do about that? Will there be a new world currency that is solid?
Thanks.

Leave a Reply

7 Comments on " Plan for economic crash"

avatar

investor101
Irregular
16
May 13, 2014 5:46 pm

Thanks….I think you have expressed what is weighing heavy on people’s mind. I seriously don’t know which way to go. I have quite a few US Savings I Bonds I bought for my sons in the 90’s, sitting in the safe deposit box and have wondered if I need to go ahead and cash them. I certainly can’t put everything in gold, have a stock account etc… I sure do hope our friends here will express their thoughts. I will heed that more than the paid for newsletters!

Travis Johnson, Stock Gumshoe
Admin
4440
May 14, 2014 8:46 pm
I bonds from the 1990s might be an awfully compelling hold if you’re worried about inflation — they would probably still have a substantial base yield plus the variable inflation protection, check with TreasuryDirect to see what they’re earning. I personally buy I bonds and max out on those before adding to my savings accounts, and I often buy foreign currency CDs through Everbank for diversification … Though I don’t own any right now. The third leg of my savings strategy to diversify is periodic Small purchases of precious metals. Foreign currency CDs, I bonds, and precious metals are not… Read more »
George
Irregular
1
May 14, 2014 2:19 am

I am conserned about any accet backed by the US dollar. This currency could inflate very fast when people loose confidence in the USD. The traditional way to reduce the impact is precious metals, investments not in USD, and land to mention a few. Anyone have any better ways to hedge against a big USD inflation run?

euclid
Irregular
1
May 14, 2014 3:31 pm
I too am concerned about any asset backed by the dollar and after reading the 3 Aftershock books by Wiedemer et al I am in the process of shedding the dollar where I can: PM, of course, Canadian and Australian backed equities, currencies (see EverBank), take look at currency play XCRD by Deutsche Bank, Jim Rogers says buy farm land, some say real estate but Wiedemer says it will crash again but it still might be better than dollar. The more extreme approach would be to leave the US. I hope others with good ideas let us hear about them..… Read more »
Travis Johnson, Stock Gumshoe
Admin
4440
May 14, 2014 3:50 pm
Careful with thinking of the dollar as an asset or as some sort of “backing” to a country or a company — it’s just a currency, a way to describe the value of something and move that value around. Most assets like real estate or stocks aren’t “backed” by the dollar (though fixed income can be thought of that way) — they are denominated in dollars. If the dollar goes down in value, many such assets would simply be worth more dollars (all else being equal). That’s an oversimplification, of course, and I too try to diversify some of my… Read more »
robinsteel
Member
6
May 14, 2014 2:41 pm
As we know, gold and silver have been the traditional hedges against inflation, and it seems that even the richest people are buying a lot of PMs these days…the ultra rich have huge holdings in the biggest miners, and RIO and BP Billiton have a lot of accessible reserves in Utah and New Guinea. So, world wide, “the market” is ripe for a fall, and PMs are easily manipulated by High Frequency Trading on behalf of the same people who own most of the “quality” stocks in existence …It follows that these people are going to short the markets that… Read more »
investor101
Irregular
16
May 14, 2014 7:36 pm

Would somone please address these US Savings Bonds???? Travis, I am not a whiz kid with the stocks, but do have a portfolio with Ameritrade, too much personal real estate, some g/s, geez…just a regular girl not liking what I see our govt doing to us. I live within my means and don’t like debt. I see the prices rising every time I go to the store and wonder how in the world families are going to make it, it is taking a whole lot more dollars. Thanks everyone for your valued opinion.

wpDiscuz