With Switzerland's move, what currency do I turn to now?

[The Midnight Ride]

As a small time investor recently out of college, I am looking to preserve my wealth and avoid the unnecessary risk of having only ties to the USD. I have invested in physical silver and the Swiss Franc (in physical form - not FOREX) and have done well on a small scale. However, with the "semi-pegging" of the Franc to the Euro, I am hesitant to convert any more USD to Francs. I have begun to look into the following:

New Zealand Dollar
Australian Dollar
Canadian Dollar
Norwegian Krone
Swedish Krona

Are these all safe bets? I am looking to put money into as many as possible to lessen the risks involved. I should also note that I am not looking to short any of the currencies. Any thoughts would be appreciated.

 

[iddo]

bitcoin though it isn't a safe bet.
your silver seems safe, why do you prefer to invest in something else too?

 

[sickmint79]

silver is not the poor man's gold. it's not monetary and it's not going to be again. gold is - it's still in central banks. if we get into a currency war - it very well could be used again - which is why banks are net buyers of it now. i'd sell the silver and buy gold. you live here, throw the rest as cash into some high yield checking account. you can look around for some on the fatwallet.com finance forum.

 

[heavenlyboy34]

silver is not the poor man's gold. it's not monetary and it's not going to be again. gold is - it's still in central banks. if we get into a currency war - it very well could be used again - which is why banks are net buyers of it now. i'd sell the silver and buy gold. you live here, throw the rest as cash into some high yield checking account. you can look around for some on the fatwallet.com finance forum.

What do you mean by "silver isn't monetary"? Silver has been used as money for ages. Even today quarters still have a few grains of silver in them.

 

[eduardo89]

Canadian or Australian dollars seem the safest bets. Stay out of Europe.

 

[sickmint79]

governments sold their silver. do any have it anymore? the US certainly sold theirs. it's primarily an industrial metal today. the poor man's gold is a smaller piece of gold.

 

[Dr.3D]

I believe all fiat currencies are going to fall about about the same rate as the U.S. dollar. This is because the United States Dollar Index is using six other currencies to arrive at the relative value the dollar. Those currencies have all been falling for many years.

I believe the best bet is to get out of the fiat currencies and buy something that has until the last 40 years been used as money.

 

[sickmint79]

that's no reason for them to fall at the same rate - and that is just on index; you should value the dollar against stuff!

 

[Dr.3D]

that's no reason for them to fall at the same rate - and that is just on index; you should value the dollar against stuff!

And stuff hasn't been seemingly more expensive as time passes?

 

[Ronpauljones]

Silver only would be my advice.

 

[Travlyr]

What do you mean by "silver isn't monetary"? Silver has been used as money for ages. Even today quarters still have a few grains of silver in them.

No kidding. Silver isn't monetary? I have been sending silver to liberty advocates for years already. Silver is still money even if Bill O'Reilly doesn't get it and says it isn't. Silver is better than gold, imo, and gold is better than paper.

 

[sickmint79]

And stuff hasn't been seemingly more expensive as time passes?

not equally in all currencies...

 

[sickmint79]

No kidding. Silver isn't monetary? I have been sending silver to liberty advocates for years already. Silver is still money even if Bill O'Reilly doesn't get it and says it isn't. Silver is better than gold, imo, and gold is better than paper.

silver is not used in any money system anywhere to my knowledge, and unlikely to ever be monetized again. gold is highly likely to be part of an international system (again) going forward.

 

[Dr.3D]

not equally in all currencies...

Well of course... but show me a currency that will buy now what it would in 1913.

 

[Travlyr]

silver is not used in any money system anywhere to my knowledge, and unlikely to ever be monetized again. gold is highly likely to be part of an international system (again) going forward.

Hee ... hee.. ha.. haa... Did you read what I wrote? Silver IS STILL real money. People are using it today in America. Just because you don't use it doesn't mean that other people aren't. Today, yesterday, and tomorrow people are using silver as money. Silver is a valuable resource and it's worthwhile accepting it in exchange for goods and services. As a matter of fact, it is the only legal tender allowed under the constitution for a reason. It is a hedge against inflation. Silver holders are experiencing deflation while paper holders are losing money every day by design. That is a fact of life in 2011.

 

[sickmint79]

Well of course... but show me a currency that will buy now what it would in 1913.

i wasn't contesting that. i was commenting in regards to them all falling at the same rate.

 

[sickmint79]

Hee ... hee.. ha.. haa... Did you read what I wrote? Silver IS STILL real money. People are using it today in America. Just because you don't use it doesn't mean that other people aren't. Today, yesterday, and tomorrow people are using silver as money. Silver is a valuable resource and it's worthwhile accepting it in exchange for goods and services. As a matter of fact, it is the only legal tender allowed under the constitution for a reason. It is a hedge against inflation. Silver holders are experiencing deflation while paper holders are losers. That is a fact of life in 2011.

it's also a fact that government doesn't and barely anyone uses it for transactions. i don't care how many people use silver or bitcoins or ithaca hours - governments aren't going to use them again and if you're looking to put your money in a hard currency and escape fiat currency, then gold is the place to go. central banks globally filled with it. that you exchanged some goods or services with your neighbor is not in the same monetary universe.

 

[ctiger2]

silver is not used in any money system anywhere to my knowledge, and unlikely to ever be monetized again. gold is highly likely to be part of an international system (again) going forward.

I don't know where you're getting your bad info. Silver/Gold are recognized and accepted as Money worldwide. Sure, they may not be officially recognized by the Government as official Govt currency, but people will accept them as free market methods of payment for sure. This is not the case with Federal Reserve Notes. Mexico is working to re-introduce Silver as an official Govt. currency in Mexico as I type this.

To the OP, just buy Silver/Gold and sleep well.

 

[Travlyr]

it's also a fact that government doesn't and barely anyone uses it for transactions.

That is illegal, immoral, and criminal. Obeying counterfeiters is causing all the problems of our day. The truth will set you free. Honest sound money is the key to liberty, peace, and prosperity.

 

[Diurdi]

I believe all fiat currencies are going to fall about about the same rate as the U.S. dollar. This is because the United States Dollar Index is using six other currencies to arrive at the relative value the dollar. Those currencies have all been falling for many years.

I believe the best bet is to get out of the fiat currencies and buy something that has until the last 40 years been used as money.

Yes, you have to remember that most fiats are backed by dollars - IIRC.