Looking for some advice...

[sean43]

Hello All,

I am an huge RP supporter from over the sea in Wales, United Kingdom. I know there a lot of like minded people on here but there are plenty that understand and know economics a heck of a lot more than me.

My position is this. I am going to University (college) next year. I am currently working and saving around £400 ($800 dollars) a month into a simple savings account. With my Government through the Bank Of England doing nearly exactly the same thing as the Federal reserve by printing more money and destroying the currency (purchasing power, value etc) what do you guys recommend.

Do I just carry on saving my money into a bank account or would it be worth buying up that amount in silver, gold etc? Or maybe buying a small percentage in that. I just dont want to be in a position next year with all of my savings being pretty much worthless (to some extent)

Im 18 by the way so be kind!

 

[Bill M DC]

Look into investments in Switzerland. I knew a guy in Germany who could double your money in 4 years with 10K EU minimum to start. Americans are of course prohibited by our own laws to invest in this.

 

[PatriotG]

I wish I had some advice at this point, but the way the markets are right now, there doesnt seem to be anything attractive, at least that I have found.

Im out of everything as far as investments go, I still like the idea of PHYSICAL gold and silver. The futures, paper markets are too manipulated.

If I had to guess, Im thinking sometime in the near future Swiss Francs will be a good investment.

Sorry I can't do better
Very treacherous markets these are.

 

[muh_roads]

There isn't a Bull to be found anywhere except to sit in cash. I'm just afraid that if you follow that advice, the cash will switch from strength to worthlessness at any given moment.

It's frustrating. I wish government would just get the fuck out of the way and let things happen the way they are supposed to.

 

[PatriotG]

i wish government would just get the fuck out of the way and let things happen the way they are supposed to.

amen!

 

[SevenEyedJeff]

Im out of everything as far as investments go, I still like the idea of PHYSICAL gold and silver. The futures, paper markets are too manipulated.

Good advice, I just hope you can find some physical. They seem to be sold out pretty much everywhere around here now.

 

[tmosley]

Buy a little safe (make sure you will be allowed to bolt it down in your dorm, if not, keep in the home of a family member who can be trusted to not try to break into it. Put away some currency, as well as some gold and some silver. I would suggest 20% currency, 30% gold, and 50% silver. Hyperinflation takes some time to ramp up, so currency will retain it's value for a while, and you will need it since most stores won't trade for gold or silver. Should the economy collapse (and your government along with it), your gold and silver reserves will be useful for trade. If they don't collapse, they will be fine stores of value against rapidly increasing inflation. Silver has a greater upside than gold, and it's cheaper. That's why I would advise buying more of that if possible. Gold is good because some nations may find that the best way out of this mess is to adopt sound money in the form of gold, in which case the value of your bullion would increase dramatically.

Remember, if you don't hold it, you don't own it. Better to trust your family than your banks.