I am curious where people think is the safest place to keep their money. Our country is over $10 trillion dollars in debt, so T-bills and FDIC accounts don't seem too safe. I have considered putting funds in various currencies like the Japanese Yen or the Swiss Frank through Everbank.com. Virtually all commodities, including gold and silver seem to have peaked and are trending down. Land is cheap now, but not very liquid. Conventional wisdom is just to stay diversified in stocks and bonds. I realize the stock market partially recovered last week, but it could just be a pullback in a prolonged downtrend. Is there really any place safe to keep money these days?
* Everbank and 1000s of other banks will be out of business before (or at a minimum very shortly after ) the day US T-Bills become worthless * Who says the Japanese or other governments are not knee deep in debt?
Have a look here: http://mwhodges.home.att.net/nat-debt/debt-nat.htm http://mwhodges.home.att.net/ http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm A lot of the information on those three pages is scary. Separate to that I can throw in the following: http://seekingalpha.com/article/98769-our-coming-depression http://static.seekingalpha.com/uploads/2008/10/7/saupload_jq2_thumb1.jpg The above chart shows that total US debt to GDP is in a worse position than the late 1920s and early 1930s. http://www.google.com/search?hl=en&q=debt+to+GDP+worse+than+1929&btnG=Google+Search&meta= The rally in the US Dollar from July 2008 to present is mainly (1) a relative value trade and (2) selling of US Dollar denominated assets, even including gold.
Good posts so far. But I am still waiting for someone to suggest a safe place to put money. Maybe a Swiss bank account?
If you don't think T-Bills are safe I don't know why you think any other governments currency or debt are safe. What do you think the world will look like if the US govt defaults? Sounds like you should be investing gold and guns/ammo.
Those in power have already tried gambling (poorly investing) our SSI contributions, and that didn't work. I suggest conservative non-gambling strategies, like guaranteed funds that are backed by gold.