What Currency is Safe?

[Elixir]

You might nedd more than gold....

Guns , Ammo -food , water, protect what is yours

.223 , .45 , you can never have enough ammo

[cherishit]

I had a family member try to figure out the answer to this question when everything was projected to crash due to Y2k...she stock piled hundreds of pounds of sugar. Her reasoning was that people are addicted to it and she would be able to barter with it...might be as good as anything. If you seriously think that everything will crash, like the great depression, then a few hundred dollars invested in packets of vegetable seeds might prove to be more valuable than sugar.

Small houses that can be rented out have proven to be a good source of revenue in the past...maybe 2 bedrooms, with an easily converted room for a third bedroom...a wood burning stove might be nice, depending on the weather in your area. Everybody needs a roof over their head and more people are projected to lose their homes within the next few years. This set-up is pretty good for families or room-mate situations, although some people might not be able to afford rent. Only buy what you can afford...you don't want to end up in a tight spot either. I know that this sound bleak, but if a worst case scenario were to occur, a few packets of seeds could be included with each house for a back yard garden. If it gets that bad a reciprocal trade agreement with the renters/family members/friends for veggies (and maybe even some eggs, etc) could be set up...yours could be included as part of the rent. Everybody will have a roof over their heads, will stay warm, and should eat well.

I hope to never see this scenario as being a necessity in our county but already know of people buying houses like this, others who have lost their homes and are living in multi-family situations, and neighborhoods with communal gardens. I don't know of any who have put this together as an investment plan. Just to put it out there...I also know somebody whose father held the contracts for a number of houses during the depression and gave the contracts to the families that lived in the houses free and clear after the crisis. She lost her inheritance, but he has always been a hero in her eyes.

[Slaydadea]

Bottled water, canned and dried foods. and 22LR shells. All the big game will be taken first.

Lots and lots of 22LRs. Your cat won't be safe.

[pt49]

The dollar can collapse just like the pound did post WWII... the dollar replaced the pound as the worlds major currency when the UK collapsed under so much debt following the great depression and WWII.

Every major fiat currency in history has ultimately collapsed, what makes you think the dollar will be any different.

Bernake (aka the FED) can't keep printing monopoly money (the US$) backed by nothing forever... it WILL happen.

[hardmoney1]

If the dollar were to collapse (and its not) there would be no currency that was "safe". Just take a look around the world right now and ask yourself what currency you would "park" all of your liquid assets in?.....kinda slim pickings huh?

Gold? Silver? Gems? Diamonds? The idea is quiet romantic ....but in a true economic collapse I am not sure how practical those hards assets would be. You gonna take your big gold dabloon down to the local store and buy a loaf of bread with it? How would they give you change? Who would determine the price of that gold at that point? Assets, tangibles, etc etc are never at some "permanent" price or value. It is worth only what you can buy with it at that given point. That being said, perhaps at that point....your Gold Coin that you bought to protect your monetary wealth is ONLY WORTH one loaf of bread because that is all you can buy with it...at least you got some bread and could avoid starvation for a while longer but that is getting into the realm of "Survival" and probably best left to another conversation.

The point is...if the US Monetary System were to collapse today, so would the world....thats why nobody is going to let the dollar "collapse".

We don't live in a world or a dimension where things are "safe"....nature itself is a random violent force....you and your kids can be murdered walking into pre-school ....or your dog can turn on you and eat your throat out while you watch TV....or a plane can crash through your house...etc etc etc

"Safe" is a word and/or state of mind that is only relevant at one particular point in space and time for one individual....like anything else...its all relative

SORRY, BUT history does not bear you out on that point! Fiat currencies are the "new money" and technically they have been only un-backed by precious metals since Nixon reneged on the gold standard in 1971.

This experiment is not yet a 40 year history, and we have had wild & tumultuous business cycles AND currency fluctuations (THE VERY OPPOSITE OF WHAT THE FED PROMISES, and STATES THAT IS THEIR PURPOSE - STABILITY!!) You will find a VERY STABLE PERIOD IN HISTORY, when a government CHOSE to remain HONEST and created the "GOLD & SILVER BEZANT" from the Byzantine Empire (this started in Constantinople, from Constantine I, and interestingly, through Islamic Caliphates that created the DINAR in 1300), that the WHOLE WORLD accepted because of the consistent purity, and weight of the coin. This stable period lasted 400 YEARS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Compared to the 98% loss of purchasing power of OUR DOLLAR since the FED was instituted in 1913, your argument falls flat!

Fiat currencies are A BEAST of FASCISM and SOCIALISM, and I would not put any trust in them, including the USD.

Why do you use hyperbole concerning "why have a gold Dabloon" (actually its "doubloon"http://www.allposter...57〈=1&dom=1)"??? You can purchase 1/10 of an ounce in US Gold eagles, if that floats your boat. The price for this coin at $1400 per ounce is $150-$160. Still too much?? BUY US SILVER DIMES. A silver dime is worth $1.90-2.00 with silver at $30 an ounce. Silver at $300 an ounce makes the dime worth $20. Silver would have to go to $3000 before you might have to buy a truckload of bread! Can't imagine a time that you would starve with that. From the first century to the 20th century, a silver dime was a days wage, before the Federal Reserve TOOK OVER "MONEY"!!!

Today, a loaf of bread costs what a silver dime (from 1913 - 1964) is worth TODAY, yet this same loaf of bread costs 25 dimes from your pocket - So I ask you - what are you better off holding??? Depreciating Dollars or SILVER?

It is a specious argument to say the dollar "can't" collapse. EVERY FIAT CURRENCY has collapsed. IT is the height of HUBRIS for us to believe it won't again!! AGAIN, 100% of ALL FIAT CURRENCIES HAVE COLLAPSED!! You want to be on the other side of that bet???

I, for one, do NOT! BUY SILVER DIMES!!!

[tcjams]

I hope this is not the case, but if the dollar completely collapses then is there a foreign currency that will be safe? Gold and silver are a good bet of coarse, but I wonder what is safe as far as paper currency. Any ideas?

The safest currency out there. It's held it's value since it's release!

[DinarSeeker]

If the dollar were to collapse (and its not) there would be no currency that was "safe". Just take a look around the world right now and ask yourself what currency you would "park" all of your liquid assets in?.....kinda slim pickings huh?

Gold? Silver? Gems? Diamonds? The idea is quiet romantic ....but in a true economic collapse I am not sure how practical those hards assets would be. You gonna take your big gold dabloon down to the local store and buy a loaf of bread with it? How would they give you change? Who would determine the price of that gold at that point? Assets, tangibles, etc etc are never at some "permanent" price or value. It is worth only what you can buy with it at that given point. That being said, perhaps at that point....your Gold Coin that you bought to protect your monetary wealth is ONLY WORTH one loaf of bread because that is all you can buy with it...at least you got some bread and could avoid starvation for a while longer but that is getting into the realm of "Survival" and probably best left to another conversation.

The point is...if the US Monetary System were to collapse today, so would the world....thats why nobody is going to let the dollar "collapse".

We don't live in a world or a dimension where things are "safe"....nature itself is a random violent force....you and your kids can be murdered walking into pre-school ....or your dog can turn on you and eat your throat out while you watch TV....or a plane can crash through your house...etc etc etc

"Safe" is a word and/or state of mind that is only relevant at one particular point in space and time for one individual....like anything else...its all relative

Your probably right in your thinking, however, metals have backed everything since almost the beginning of man. In a state of marshal law, would you want to be without it? At least you have something to trade with some kind of value, a value defined only by your bartering skills and supply vs. demand. Did you know that the IMF is in the process of rolling out the Bancor worldwide, a one world monetary system in conjuction with the use of the US dollar. Yes, its coming. Google has dozens of articles from the IMF about it, google bancor. They announced its inception back in April of 2010 with IMFs global intentions and use of it. The dollar has been king up until now. The fear is overwhelming that the dollar will continue its freefall. Backed by empty promises. Everything is tied to it, not to mention how much debt has been purchased overseas via treasure bonds. Don't panic yet, our government has known about this for many many years. They know what they are doing. It's the last curtain call and they are running up the credit card before filing for chapter 7. Have you read or seen that Iraqs Rv is much much bigger than Iraq itself? To further the mystery, read about Fed Reserve Tim geitners recent meetings and who has been in his attendance. Very important people with the ability to solve problems. Meetings on a Sunday unannouced with these caliber of people spells trouble for us down the road.

So, I think the IMF will roll this out with all currencies still on the street, to slowly replace the dollar over time, maybe to ward off the intial shock to the markets but more importantly to keep the monerary system fair for everyone. not just the strongest economy or who has the most gold. Understated red ink and over spending killed the world economies, its everyones fault with the US in the front. We are in for a interesting ride and it will start with the downgrade of the bond market. Thats just around the corner with 13 trillion on the books and a 14 trillion GDP, and Obamas new budget proposal. So where is the safe investment for you bucks, How about the iraqi dinar..... with the largest known combined reserves in the world for barter in a marshal law world. We are all in such a hurry to cash out of iraq, maybe thats the safest place?????? just a thought.

[Charlie Echo]

Enhancing International Monetary Stability—A Role for the SDR?

The U.S. Dollar: Like China, the dollar is another market so many analysts continue to get wrong. Yes, at times the dollar does strengthen a tad. But only against the sickly euro. Overall, the dollar is a disaster in the making, in a long-term bear market which will see the dollar lose its status as the world's reserve currency.

This forecast was made more than 10 years ago, the dollar has done nothing but lose value year after year. Now, even the International Monetary Fund (IMF) is officially calling for a new reserve currency

http://www.imf.org/external/np/pp/eng/2011/010711.pdf

[patb1]

The ECD (Eastern Carrbiean Dollar), backed by thier own gold resources, AS I understand it.

New Zeland Dollar

Austrualian Dollar

[Mountain man]

Should our government try to back our dollar with gold and or silver several things would have to occur.

1. They could enact a bill to recall gold and silver making it illegal for US citizens to own precious metals. It has been done before and recently I heard that Pres. Clinton had a bill on his desk that would have started the process for the precious metals to be exchanged for dollars. He never acted on it.

2. The government would set up a fair market value and require precious metals to be exchanged by a certain date. After that date they then could esculate the value of gold and silver to back and strengthen the dollar. By passing a law no one could use these metals for any activity and it would be an easy thing to moniter.

3. However there is a law that is attached to "rare coins" that excludes them from any recall. This type of coin has to have a certian date on it to qualify. It is something like prior 1930. This might be the type of coins that one might invest in since it is more protected.

Just a thought

[SushiLovr2]

Gold and silver are a great hedge against inflation.

But in the event of an all-out collapse, any valuable assets you have will likely be stolen or confiscated by the govt.

It would be anarchy.

When enough people are unemployed and hungry, things get very scary.

[BanG]

I hope this is not the case, but if the dollar completely collapses then is there a foreign currency that will be safe? Gold and silver are a good bet of coarse, but I wonder what is safe as far as paper currency. Any ideas?

Do not be so quick to give up on America, we have been through much worse in our history and we have achieved much in that time as well. Rumors, Conspiracy folks and the lot would have us all think that America is done, over with, finished! I as an American and a Patriot will be the last one left to turn the lights off in this beautiful country we have. I always believe we have a way out, a fix and as a people Pride, Fighters and winners. We as Americans do not give up. I too follow the news and currency markets, America will prevail in this financial crisis I believe. JMO.