What is the best investment with the economy and dollar collapsing?

[joenaab]

Somewhat in order of importance

1. Water. Lots of it. Plus, anything that purifies water.
2. non-perishables (food, principally), seeds, solar panels, batteries, bullets, etc.
3. small denominations of silver & gold that you keep at home or buried nearby.
4. get your money out of the country. (explained below)
5. precious metals, energy and food commodities
6. diverse basket of foreign currencies
7. land and real estate outside of the U.S.
8. never too late to get a 2nd passport or to own a small apartment in another country.

You can legally have a bank account outside the U.S., as long as you report it's existence and earnings activity. If it is an individual account you can own anything except foreign mutual funds (i.e. precious metals, stocks of any corporation in the world, U.S.-based mutual funds) If the U.S. economy is collapsed and all the emergency laws kick in, the government can legally seize not only all your money and investments, but they can take the assets of mutual funds and ETF's of funds and ETF's managed within their jurisdiction. This is why it is critical for those who have larger net worths to move them offshore and out of harm's way.

You may not have access (via ATM) to your off-shore account during the peak of a crisis, but you will still be the legal owner of the assets and at some point will be able to get at it. This depends to a degree as to where your off-shore assets are kept and what crisis is created within the U.S.

 

[Ponce]

And who says that your overseas bank account has to be in your name???, that's why you have sleezy overseas lawyers that will take 7% of what ever interest you get............. but it is better than the 28-32% that Uncle Sam's will "accept" from you.

Is not which game you play but how you play it.

PS: I have no overseas bank account and I only read about the above

 

[Spirit of '76]

LOL Auistin hahahahahahah, it must be my Cuban accent LOL.

OK here we go......two years ago I prepaid for 1,000 gallons of gas at the only service station in my one mule Micky Mouse of a town for $1.69 per gallos, as I used my gas he would deduct it from the 1,000..... 13 gallons to fill my pick up he would deduct 13 gallons from my pre-paid 1,000 gallons, or, people were paying as high as $3.79 but my price was of $1.69

Now then, last week I used the last of my pre-paid 1,000 gallons but he wants my silver and I want his gas so that no he is willing to partake of his gas in exchange of my silver, at the current price for both of them.

My average cost for all my silver is of $5.15 but the market price is of $13.00 (less now) ....... I gave him 100 oz of silver which was equal to $1,300 when gas was at $3.29 so that it would be 396 gallons, ........so that my cost is of $1.56 per gallon, in other words "I am paying less than 50% of the current price thanks to my silver investment".

That's a sweet deal.

 

[Man from La Mancha]

That's a sweet deal.

I would not certainly put that info over the internet as a I did it.

 

[Kregener]

Gold and silver, hands down.

5,000 years of the history of human exchange bears this out.

 

[joenaab]

And who says that your overseas bank account has to be in your name???, that's why you have sleezy overseas lawyers that will take 7% of what ever interest you get............. but it is better than the 28-32% that Uncle Sam's will "accept" from you.

Is not which game you play but how you play it.

PS: I have no overseas bank account and I only read about the above

I didn't say that you have to have it in your own name, only that you can. I say this because it is much faster and less expensive than forming an offshore trust, foundation or corporation. You don't have to pay any lawyer to do this. European banks are a bank and an investment firm combined. They will take a 1-1.5% annual fee for managing your assets as does an investment firm in America under a "wrap account" or "fee-based" account (as opposed to trasaction based account). Some banks are less expensive and have online self-managed trading accounts with access to stocks in most of the world's markets.

The IRS would expect you to report the capital gains, dividends and earnings on the account as they do an account in America. This isn't a way to "cheat" the government, it is an idea as to how to protect some of your wealth from seizure in the event of an economic emergency in America.

 

[tsoldrin]

I love all the folks who say gold and silver... I'll be selling them food at ridiculous prices

 

[torchbearer]

property. land. trees. natural resources. all good investments.

 

[Ponce]

I love all the folks who say gold and silver... I'll be selling them food at ridiculous prices

Soldrin? at least those of us with gold and silver will be able to afford to buy food even at "ridiculous" prices....... what do you think those with no gold or silver are going to eat?......."In the land of the blind the one eye man is king".

I made a nice bundle back in 1980 with my 1972 purchase of silver and even now I am paying less than 50% for my gasoline by paying with silver.

The end result is that what counts is not what you have but what you do with what you have........if you have it and don't know what to do with it is then that like not having it at all.

PS: By saying "ridiculous prices" that would mean that the dollar would be worth nothing and that PM has gone up to the sky like a rocket ship.....like in Rhodesia, therefore the ridiculous prices would be the same as what I am paying now for the same item.

HAVE PM?????

 

[BuckeyeDad]

I love all the folks who say gold and silver... I'll be selling them food at ridiculous prices

The only way you will get "ridiculous" prices is if you were the only one within a 30 mile radius capable of growing and selling food. It's not like those with gold and silver couldn't go elsewhere. Capitalism will still exist, even when SHTF.

If you were the only one with food, you also had better have lots of weapons and ammo, because people will be desperate and will not hesitate to clean you out. The gold and silver you seek in exchange for your food won't even factor in.

Most goldbugs are very smart people. They already have stockpiles of food. They know how to be self sufficient.

 

[Ponce]

LOL Dad, looks to me like you have been peeking in my patry and my garage

With food for 3.5 to 4 years and all that I need to survive for 25 more I am pretty well set up.

What is going to happen is going to be worse than what people think will happen and that will be for one reason.......... they have no preparations whatsoever.

By having AT LEAST a six months reserve of food in stock this will give you time to relax and plan your next move rather than going around like a chicken with your head cut off like most people will be doing.

And even as weel prepared as I am I keep saying to myself "To be ready is not"... Ponce, this is because everyday I find something else to do or something new to add to my preparations.

Now that I am where I am at this gives me time to relax and shoot the breeze with you guys and time to read about what the Zionists-Neocons are up to.

PS: Surf the WWW for the news and read about what is going on in the US (and world wide) rather than ONLY reading what they feed you here in the news.

 

[Tim724]

I have had an account with goldmoney.com for a couple years now and really like dealing with them.

It is an "e-gold"-type account where you have savings denominated in gold. Goldmoney has vaults of gold insured by Loyds of London. It is all offshore - in Jersey (a British channel island, associated with the UK).

Their fees and comissions are very reasonable. I withdrew a few thousand dollars from my account once with no problems - they had the money transferred to my US bank account quickly.

How do you guys stockpile food and water? Do you keep barrels full of water? What about food? - do you have standard supermarket-bought canned foods like Dinty Moore stew? (That stuff isn't very healthy and has lots of sodium.)

I am a vegetarian, so I'm not sure what canned foods I could live off of.

I have never met any other staunch libertarians who are vegetarian.

 

[Kregener]

*WARNING*

E-gold, or any other "promise-to-pays" are NOT trustworthy. There is no difference in them and our current fiat "system".

Owning physical gold and silver is the only way to insure your finances.

 

[Tim724]

*WARNING*

E-gold, or any other "promise-to-pays" are NOT trustworthy. There is no difference in them and our current fiat "system".

Owning physical gold and silver is the only way to insure your finances.

I don't think that your blanket statement is fair. There is some risk in every investment vehicle. Are insurance policies a waste of money be cause they are promises to pay? (rhetorical question)

If the economy TRULY implodes and anarchy ensues, gold coins might not be able to do much for you.

I think physical bullion in your possession is good. However, I like the idea of also having some in an offshore account. Think about if you want to flee the country. They will never let you take a backpack full of gold with you as you leave. That is where having an offshore account would be valuable.

But yes, there is certainly some risk in e-gold. There is also risk that someone will break into your house and steal all your bullion. Many of us on this board realize that there is a lot of downside risk to holding Federal Reserve Notes, but I'd bet that alot of us still have some cash savings.

 

[BuckeyeDad]

*WARNING*

E-gold, or any other "promise-to-pays" are NOT trustworthy. There is no difference in them and our current fiat "system".

Owning physical gold and silver is the only way to insure your finances.

True. Unless you hold it, you don't own it.

 

[loupeznik]

I have to agree. If the economy goes to hell who will want gold? I think ammunition would be the best currency. either that or seed.

I don't follow my own advice though. I do buy a lot of ammo but then I just shoot it and buy more.

 

[PMorphy65]

Can't go wrong with Gold. Has mostly held its value for years. You can try buying it at coin shops; probably not the best going rate, but quick and simple.

 

[Ponce]

True. Unless you hold it, you don't own it.

LOL Dad, the corect quote is "If you don't hold it, you don't own it"... Ponce

 

[kalami]

Of those, silver mainly but for real bad times I would say non perishable food, bullets, solar cells, fuel, non electronic old diesel generators and vehicles, guns, water purifiers, ect. In real bad time times you would be very rich then.

Do you really think the dollar plummeting would revert life back to the 1800s?

 

[Ponce]

Kalami? it will be worse because in the 1800 men were men and women were women but now all you have are men with fat bellies that all they care about are their beer and their football games......and the women? forget it because if they break a nail they are already screaming bloody murder.

The future are the kids of today.....oh really?, out of 28 of the most industrialize nations education wise the US is almost at the bottom by being 24.

We had a lot of farmers in the 1800 so no matter what there was always food but now days if you can't walk to Wallys and buy your stuff you will starved.

Even the depression of 1929 was really nothing because the rest of the world always wanted what we produced but now we produce nothing so that it will be very hard to get out of that deep hole in which we will find ourselves in the future.

Have PM?