Cash Money Y'all

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#1 Sat, Aug 20, 2011 - 11:10pm
Pablo
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Cash Money Y'all

Ok I will put this question to the forums,

We of course have a limited amount of cash on hand in case of emergency. Should we diversify some of this cash out of the USD and into CAD or EUR? Is it that just inviting further disaster if those currencies fail before the dollar fails?

Edited by: Pablo on Nov 8, 2014 - 5:04am
Sun, Aug 21, 2011 - 9:15pm
Pablo
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No opinions on this?

Really, no opnions on this?

Do any of you guys have any Euros or Canadian (Cash)?

Sun, Aug 21, 2011 - 10:05pm
Paladex
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It's all a crap shoot, Pablo.

It's all a crap shoot, Pablo. I DEFINITELY would not buy Euros right now. Europe is about to go up in flames, and the Germans are about to take their marbles out of the Eurozone and go home to the Deutsch Mark.

“Politicians are like diapers; they need to be changed often and for the same reason.” ― Mark Twain
Sun, Aug 21, 2011 - 10:12pm
Paladex
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Swiss Franc

If you want a European currency, look at the Swiss Franc. It might wind up being the last man standing, at least for a while.

https://online.wsj.com/article/SB100014240531119036394045765186622314988...

I love the last line of that article: "If the city were to reimburse the entire loan [48 million] ahead of schedule, it would have to pay a penalty of €2.9 million."

Imagine having to pay a PENALTY for paying a loan off early. Only bankers can dream up these abusive contracts, and only governments are stupid enough to sign up for it.

“Politicians are like diapers; they need to be changed often and for the same reason.” ― Mark Twain
Mon, Aug 22, 2011 - 12:33am
Jasper Puddlemaker
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Currencies...

I think it depends upon where you live. I hold a 50/50 mix of $US and $CA. Living in Oregon I think the $CA stands the best chance of becoming an accepted alternative for retail transactions here in the N.W.. Diversification seems prudent to me.

Mon, Aug 22, 2011 - 4:44pm
BASEBALL 13
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Worldwide....GOLD is MONEY

Since 2010 central banks have been net buyers of Gold. It's continuing climb over the last decade has only gained momentum, even with "market experts" crying that it's a bubble. Don't think of gold as a commodity, but rather as an alternative currency. Since there are no longer currencies that are backed by gold, the broad population has lost the recognition of that function of gold. However, the market tells us differently. Gold price is now a barometer of the loss-of-faith in paper money. IT might even be a reminder that there is an inordinate amount of leverage still out there. "A bird in the hand..."Chavez may be a rabble-rouser, but his move to repatriate his country's gold may be just the beginning as nationalism spreads.

Recommend at least 10% of your wealth in physical gold (or silver).

Via con Dios!

Sun, Oct 2, 2011 - 8:18pm
Wyatt Knuckles
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Can't eat Euros

Yo Pablo. My two cents: If you tend to stay in one location, then the currency of that location is the one to keep on hand. I'm always inside the lower 48, so Euros wouldn't do much good when the ATMs shut down and stores go empty.

Mon, Oct 3, 2011 - 9:18pm
Brotha Bob
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Local

Being on the US, if someone tried to pass a Euro, they would get laughed at. Local, or regional currencies are the only answer. Regional, being if you live close to an international boarder (Canada, or Mexico), where those foreign currencies would be recognized.

May God Help Us All But, what do I know?
Thu, Oct 6, 2011 - 1:42pm
Pablo
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Thanks for the advice

Given how the Euro looks prone to going "pop" before the dollar at this point, we'll stick to cash we can spend locally.

Thu, Oct 6, 2011 - 7:30pm (Reply to #9)
plata larga
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good calls

I agree with the responses that you should stay with dollars and/or the local currency. I think the euro has to crash/collapse before the dollar. When the euro crashes, all bets are off and you better have real physical assets that you can eat, use, rent, or trade.

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