Americans (or anyone, really) - Save your sinking cash!

[Zero]

Check these out - sites basically like paypal where you can save and pay, but using bullion (gold, silver, etc).

http://www.londongoldexchange.com/

This is a list of places where you can exchange your cash in a 100% bullion backed account. With lots of major currencies looking like they're about to tank, you can safely store your cash as gold, so if the dollar or pound or whatever keeps crashing, your money won't lose value. In fact, the more people who start switching to gold, the higher the price will go. Get in first and get the filthy fingers of government-manipulated money off your list of worries. Not so great for liquid cash on hand, but for savings it's brilliant.

[Craig de Tering]

Thanx for that!

[alex]

I wonder though, for those of use in a country with a swandiving currency, would gold do you any good. In a worst case scenario, if the dollar fell to near worhtless I could see the US spiraling into mass chaos. The US is quickly becoming a buyer and not a producer, and what if we no longer have the buying power. I know the dollar is loser value, but my salary certainly isn't going up with the trend...

Maybe instead of buying gold I should invest in water purifying tablets and a small arsenal of firearms for when I'm cruising accross the desert 'mad max' style :P

[Zero]

Well, this is only a measure to protect savings, really. Gold is gold - if you have $100 today, you're not going to use it today, and you decide to buy gold with it, then should the dollar drop by half tomorrow (and the price of a $100 suit doubles, say) you could turn around and sell your gold for $200 and still buy a suit, preserving the value of the money. It protects against inflation for any cash on hand. While the dollar sinks, you don't have to pay for it.

[alex]

Sorry, my last post was a little silly. I believe in reinstating the gold standard... as does Ron Paul

[Zero]

:lol: yeah, I caught the silliness of the last bit but I wasn't sure about the first half... I get into "macroeconomical-politics" mode and my sense of humour goes completely off. It must be some kind of condition :lol: