geauxboy
Boo Boo Bear
Offline
After seeing the inevitable with Iran dropping the dollar and the talk that it would seriously wound the dollar, I began to weigh my options. I don't know enough about finances or investing so I have many questions about our options.
I know that I am way behind on making the adjustment but that's mainly due to not having anything to adjust.
I would like to ask about and focus just on foreign monies and precious metals / gems for the moment. When we get past these, then y'all can confuse the snot out of me with blue chips and funds and all sorts of other highly manipulated investment options.
First and foremost, dealing with just monies, how does this work? To give a general scenario, what could the average person do if they had $10,000 USD in the bank? Would the interest alone be enough to keep that $10,000 worth $10,000 in say 10 years? I guess that would be a no in the first place due what that money would actually be worth in 10 years. It may only get you $8,000 of worth by that time, right?
Secondly, if I did deal in monies, how exactly does that work? BTW, I don't wanna deal with the market in a way. I just want to have the money IN MY HANDS (in the bank). Can I, or should I, deposit foreign monies in my account and would it be honored under that monies ebb and flow (value)? I would have to believe that the interest rate is still the same ol rate, but the monies themselves would still increase in buying power (of course that all depends on if it goes up or down). You can sell off declining money and replace it with rising money. Is this right or am I WAY off?
Would it be better to just collect foreign monies and put them in a safe deposit box or my matress and use it when/if the dollar crumbles to nothing? Same thing goes with gems and metals. If I understand correctly, both of these are still tied to the dollar and it rises and falls constantly.
Now, about metals and gems. Bclemms said that they too can rise and fall sharply in such short time. Ok, I see that already, but in the long run, don't they all go up? If you wait out that drop, it could easily go back to where it was when you first bought it. Of course the obvious thing to do is to buy it low so the upside is practically assured.
Ultimately, where I am really going with this is how should I be positioned if/when the dollar puts us in a massive recession. What should we do to keep oursleves somewhat unharmed from a recession? If I have about $100,000 EU over $100,000 USD (excluding the actual difference in worth), wouldn't I be in a better position?
Also, as far as recessions go, would that put precious metals and gems on someone else's "dollar" because our dollar ain't worth squat?
That's enough for now. I have MANY more questions, but I'll keep it at this for now.
Confuse away
I know that I am way behind on making the adjustment but that's mainly due to not having anything to adjust.
I would like to ask about and focus just on foreign monies and precious metals / gems for the moment. When we get past these, then y'all can confuse the snot out of me with blue chips and funds and all sorts of other highly manipulated investment options.
First and foremost, dealing with just monies, how does this work? To give a general scenario, what could the average person do if they had $10,000 USD in the bank? Would the interest alone be enough to keep that $10,000 worth $10,000 in say 10 years? I guess that would be a no in the first place due what that money would actually be worth in 10 years. It may only get you $8,000 of worth by that time, right?
Secondly, if I did deal in monies, how exactly does that work? BTW, I don't wanna deal with the market in a way. I just want to have the money IN MY HANDS (in the bank). Can I, or should I, deposit foreign monies in my account and would it be honored under that monies ebb and flow (value)? I would have to believe that the interest rate is still the same ol rate, but the monies themselves would still increase in buying power (of course that all depends on if it goes up or down). You can sell off declining money and replace it with rising money. Is this right or am I WAY off?
Would it be better to just collect foreign monies and put them in a safe deposit box or my matress and use it when/if the dollar crumbles to nothing? Same thing goes with gems and metals. If I understand correctly, both of these are still tied to the dollar and it rises and falls constantly.
Now, about metals and gems. Bclemms said that they too can rise and fall sharply in such short time. Ok, I see that already, but in the long run, don't they all go up? If you wait out that drop, it could easily go back to where it was when you first bought it. Of course the obvious thing to do is to buy it low so the upside is practically assured.
Ultimately, where I am really going with this is how should I be positioned if/when the dollar puts us in a massive recession. What should we do to keep oursleves somewhat unharmed from a recession? If I have about $100,000 EU over $100,000 USD (excluding the actual difference in worth), wouldn't I be in a better position?
Also, as far as recessions go, would that put precious metals and gems on someone else's "dollar" because our dollar ain't worth squat?
That's enough for now. I have MANY more questions, but I'll keep it at this for now.
Confuse away
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