tag:blogger.com,1999:blog-1461700565722278823.post4235979757523237965..comments2024-02-27T14:44:07.868+01:00Comments on Greedy goblin: Feeling saferGevlonhttp://www.blogger.com/profile/07072766785893313616noreply@blogger.comBlogger60125tag:blogger.com,1999:blog-1461700565722278823.post-85369352711432005922012-01-01T05:12:27.044+01:002012-01-01T05:12:27.044+01:00Two words - junk silver.
Old Austro-Hungarian silv...Two words - junk silver.<br />Old Austro-Hungarian silver pieces would be nice to pick up whenever you can, Gevlon. As you pointed out, gold's problems are proof of purity and concentration of value. Silver has less value concentration, while still being a precious metal - US junk silver has a metal value ~20x the coin face value, so a silver dime is $2. IIRC, the Austro-Hungarian silver came in handy when the Soviet Union imploded and currency was in flux.tweellhttps://www.blogger.com/profile/08164718561825615886noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-58437279961542208412011-12-29T09:45:23.598+01:002011-12-29T09:45:23.598+01:00You would have been insured upto 100000 eurosYou would have been insured upto 100000 eurosAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-88178670959393181912011-12-28T23:42:50.616+01:002011-12-28T23:42:50.616+01:00First lesson: you spread.
20 % in bonds - 20% in ...First lesson: you spread.<br /><br />20 % in bonds - 20% in stocks - 20% in gold - rest in real estate.<br /><br />Cash has to be less than 2 %<br /><br />As long as Germany is within the Euro, it is rock solid. Period. Don't believe anything about the euro as it is much stronger than you think.<br /><br />I have around 80% in Euro, the rest is spread.<br /><br />And a good advice : take funds that hold all components of the economy.<br /><br />Result ? My banks are working for me. We made 60.000 euros this year pure on investment. In 2010 that was 90.000. <br /><br />Not counting our salaries (we save my wife's salary as an extra)<br /><br />You let others work for you as an investor, that's the principle.<br /><br />Really, only your first 100k is the hardest. The rest is easy money.<br /><br />In fact I retired this year, playin 6 hours per day Wow and soon D3, doing 2 hours sport and just relax.<br /><br />The economy works for me...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-74322442046268248402011-12-27T02:34:41.674+01:002011-12-27T02:34:41.674+01:00USD is not safe at the moment. They fucked up thei...<i><br />USD is not safe at the moment. They fucked up their banking system pretty much, generated metric gigatons of national debt and printing money all day to pay it off... Your only hope is that HUF will plummet faster than USD :D<br /></i><br /><br />Amusingly enough this has nothing to do with the United States problems.<br /><br />Unless you mean by their "bank system is messed up" is that the super important bankers are accountable to no one and can draw on unlimited amounts of money from the government.<br /><br />Their fundamental problem is that corruption has reached unheard of levels.PT Barnumnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-84841542072420918752011-12-24T17:46:09.445+01:002011-12-24T17:46:09.445+01:00USD is not safe at the moment. They fucked up thei...USD is not safe at the moment. They fucked up their banking system pretty much, generated metric gigatons of national debt and printing money all day to pay it off... Your only hope is that HUF will plummet faster than USD :DPéter Zoltánhttps://www.blogger.com/profile/01703829981771783158noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-84050481303794931682011-12-24T05:33:34.450+01:002011-12-24T05:33:34.450+01:00As an American, I know from the facts on the groun...As an American, I know from the facts on the ground that you are going to dearly regret having your money in USD within two years.<br /><br />Dearly.<br /><br />People who say Canadian dollars are making a reasonable suggestion.<br /><br />If you want "emergency money" then keep a PORTION in USD.<br /><br />When Lord FDR confiscated all the gold in America, due process could STFU and they sealed every bank deposit box before a duly appointed representative of the government could come and take the gold.<br /><br />So safe deposit boxes also have problems.PT Barnumnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-27427194529607531652011-12-23T18:46:49.750+01:002011-12-23T18:46:49.750+01:00And one thing that you have to consider is that an...And one thing that you have to consider is that any strategy is tied to particular scenarios.<br /><br />Anyone who is saying "if you do this one thing, then you'll be ready no matter what happens" is a complete idiot.<br /><br />The things you need to do to prepare for, for example, a 1930s style depression are almost completely different then what you'd need to have ready for a Mad Max style end of civilization scenario.<br /><br />Gev has spelled out what scenarios he's planning for (and which ones he isn't) and his preparations are reasonable for those. If you disagree, you need to first say what scenarios your plan is suited to.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-3214871025095994222011-12-23T15:00:28.284+01:002011-12-23T15:00:28.284+01:00@Andru: USD *will* collapse sooner not later.
If ...@Andru: USD *will* collapse sooner not later.<br /><br />If gold was close to being produced in an economical way the price would have already collapsed to it's expected cost of production.Quasarnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-12769525999327788292011-12-23T11:36:54.727+01:002011-12-23T11:36:54.727+01:00There is only ONE scenario when Gevlon and any oth...There is only ONE scenario when Gevlon and any other who keep their savings in USD can go wrong.<br />And that scenario is the least probable : an alien invasion.<br /><br />What most people don't understand is that the USD value is backed NOT only by USA economical power, but also by their military power.<br /><br />On the other side, EU is on the brink of collapse, and the issue is NOT political only, as someone believe so, but economicaly.<br />You people need to understand that a german worker is 15 times more productive then a romanian, bulgarian, hungarian worker, 8 times more productive then an italian or spanish one...the HUGE diferences in productivity among EU states (17 eurozone ones and 10 non eurozone ones )is what caused the current issues.<br /><br />Euro, as currency, was artificially created, with only one reason : avoid future wars in Europe.<br /><br />EU is NOT USA.USA is one state, who have one constitution, one president and one federal government...and ONE economy.<br />EU is just a bunch of states, with different economies, fiscality, productivity, goverments, etc...you named.<br /><br />There are only 2 ways to get outof this mess in Europe : everyone get back to their own currency OR everyone drop their sovereignity to Berlin.<br /><br />Which one you think will happend?<br /><br />Either way, the collapse of EU is imminent.You can't keep a Frankenstein ALIVE to much time.Because this is what EU is :<br />A FRANKENSTEIN.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-15864555790214910342011-12-23T10:50:45.042+01:002011-12-23T10:50:45.042+01:00I follow US politics as an outsider and although i...I follow US politics as an outsider and although i'm no expert at economics, it seems to me, from what i can see happening, that the USD is about to go even further down, maybe even faster than the euro. <br /><br />Australia, however, seems to be on the rise. In the last couple of years, the AUD has gone up quite a bit, and during an economic crisis. This is most likely because they trade much more with China and Japan than Europe and the Americas. So, if i had any money, i'd put it in AUD. But again, I'm no expert.Kronosnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-10718883787107647932011-12-23T08:45:08.313+01:002011-12-23T08:45:08.313+01:00@Quasar
Gold *will* crash, sooner or later.
Econ...@Quasar<br /><br />Gold *will* crash, sooner or later.<br /><br />Economic reasons aside, nuclear science takes leaps and bounds. It's only a matter of time until some nuclear reaction is found that produces stable gold isotopes, which could be further refined. When that happens, gold price will be fixed to its production cost, and potentially, to its raw material, mercury. <br /><br />At that point, the whole gold-based savings model will come crashing down.<br /><br />Anyone who's buying gold right now is betting against nuclear science.Andruhttps://www.blogger.com/profile/12265338942372933846noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-50134245134521712042011-12-23T06:21:12.140+01:002011-12-23T06:21:12.140+01:00A few things:
I feel that putting all of your mon...A few things:<br /><br />I feel that putting all of your money into usd is "putting all of your eggs into one basket".<br /><br /><br />The Mormon curch has a bunch of freely available tips on food storage and preservation on their website. <br />Did you know that properly stored beans can last for 30+ years?!Kuckucknoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-70425771438091498352011-12-23T05:08:29.787+01:002011-12-23T05:08:29.787+01:00Gevlon, I really enjoy your blogs. I have this ide...Gevlon, I really enjoy your blogs. I have this ideal that even though the USD is no longer backed by gold, it is backed by crude oil. OPEC (Saudi Arabia) requiring the oil transactions to be made in USD. I believe that is one reason why the dollar remains strong despite the rapid printing of excess dollars. Does the worlds demand for more oil cover my countries mismanagement in growing the money supply? <br /><br /><br />Kevin Bullock Kevinmkj@gmail.comKwillockhttps://www.blogger.com/profile/11037630210291540378noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-85263940614745234582011-12-23T03:17:04.309+01:002011-12-23T03:17:04.309+01:00your only failing here was choosing US dollars. Th...your only failing here was choosing US dollars. The US economy is in almost as bad shape as the Euro. Within 6-12 months the US is facing another debit crisis and we default on it's loans without another debt cap extension.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-42406319050761892892011-12-23T03:16:06.662+01:002011-12-23T03:16:06.662+01:00None of you armchair financial experts has address...None of you armchair financial experts has addressed Gevlon's need, which is a liquid, usable currency in the event his country's currency tanks.<br /><br />USD is a near universal currency with decades and decades of stability. Nobody can possibly predict what will happen, but the dollar becoming worthless? If that were really to happen gold would be the last thing people cared about.<br /><br />I'm an American, I have much of my savings for retirement in a diversified stock plan, and plenty of cash in dollars. What would I do with any other currency?Bristalhttps://www.blogger.com/profile/11849907713604626977noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-56007306641993079132011-12-23T02:43:05.264+01:002011-12-23T02:43:05.264+01:00@Chaos Engineer: People like you have been saying ...@Chaos Engineer: People like you have been saying "gold is for suckers" or "gold is a bubble" for as long as I can remember, and recommending to invest in these pathetic bonds and stocks or whatever... It was only when I discovered Peter Schiff, Ron Paul etc. that I saw the truth and decided to invest accordingly, and since that point (3 years ago) my net worth has almost trebled, whereas if I had done what you are saying my net worth would be LOWER than it was then.<br /><br />For anyone who wants to learn the truth, watch this video in which Peter Schiff predicts the 2008 crisis on TV and everyone laughs in his face: http://www.youtube.com/watch?v=2I0QN-FYkpw&hd=1<br /><br />After watching that, go to his youtube channel and watch more of his videos. You will learn a lot and hopefully it will change your life like it changed mine. (http://www.youtube.com/user/schiffreport)Quasarnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-17109587162775612712011-12-23T02:03:01.204+01:002011-12-23T02:03:01.204+01:00as a physicist I would recommend you helium-3 as a...as a physicist I would recommend you helium-3 as a safe and worthy deposit/investment if it weren't for the trouble inherent in handling it and the "niche"-market of researchers who have a use for it... <br />;)randomspynoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-48530177066172641082011-12-23T00:08:06.264+01:002011-12-23T00:08:06.264+01:00@First Anon-
Your only comment is woefully ignora...@First Anon-<br /><br />Your only comment is woefully ignorant, unless you are aware of some Chinese plan to militarily occupy the American heartland and refuse to leave until the US pays off the debt, as France did to Germany in 1923.Wilsonnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-4417421897908979442011-12-22T21:39:13.988+01:002011-12-22T21:39:13.988+01:00I would recommend Norwegian Kroner (NOK) as a safe...I would recommend Norwegian Kroner (NOK) as a safe currency more than USD. Both at a short and longer term. <br />Norways biggest export is oil, and an oil-based economy is bullet proof on your 2-year perspective. <br /><br />In the very long run(20+ years), however, I believe the NOK will diminish if less the anti-nuclear laws are lifted(we have the worlds biggest deposit of thorium).Norwegian guynoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-57804616622002373032011-12-22T20:23:57.515+01:002011-12-22T20:23:57.515+01:00In general, the economy suffers if a lot of people...In general, the economy suffers if a lot of people hoard money instead of investing it. When money is hoarded (in safety deposit boxes or elsewhere) it goes out of circulation, which leads to deflation.<br /><br />So all modern governments implement policies to discourage this kind of hoarding. The most common is just to arrange for a few percentage points of inflation a year. If there's inflation, hoarded money is guaranteed to lose value, which encourages people to accept the risks of investment.<br /><br />If you want to maximize returns, then you should invest in a diverse mix of stocks, bonds, real estate, and commodities. You'll have the best chance of beating inflation, but of course you'll lose money if the economy tanks.<br /><br />If you want to minimize risk, then you should invest in something like municipal bonds, or put it into a bank savings account. Those pay a low interest rate and usually don't keep up with inflation, but you'll still get a higher rate of return than you would if you stashed the money in a safety deposit box. Risk is as close to zero as you can get.<br /><br />Buying gold is for suckers. The problem is that the Glenn Beck/Ron Paul crowd in the US has this weird superstition that gold is some kind of magic talisman that will protect you from Socialist Liberal Communists. (They also think that Socialist Liberal Communists have political power in the US. The whole thing is just bizarre.) This has lead to increased demand for gold and the price is artificially high, so it's likely to crash at some point...but there's so much hysteria and irrationality involved that there's no way anyone can make sensible buying or selling decisions. Frankly, even complicated mortgage-backed securities would be a safer investment than gold at this point.Chaos Engineerhttps://www.blogger.com/profile/02677953943478213802noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-35337115070115134042011-12-22T17:02:51.105+01:002011-12-22T17:02:51.105+01:00I have no confidence in the USD. (I am an America...I have no confidence in the USD. (I am an American.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-83128340486873428202011-12-22T16:18:50.763+01:002011-12-22T16:18:50.763+01:00If I were you, I'd have diversified my assets ...If I were you, I'd have diversified my assets a bit. First, weapons. Join a hunting club, do the exam, and you now can legally keep guns at home (excluding auto and burst fire capable guns) Second, survival supplies. You already have some, though I don't really understand why you have pure water instead purifier pills. I would also buy some jewellery too. If hell breaks loose, jewellery would be more useful in the chaos than any money. Also, jewellery (and art pieces in general) isn't affected by inflation, making them a good long-term investment. I'd also invest in useful training, which increases your value on the job market or your chances of survival. Your knowledge can't be taken away. For the remaining money, convert them into differing currencies, not a single one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-5115107913878553322011-12-22T15:50:19.849+01:002011-12-22T15:50:19.849+01:00Would recommend buying TIPS bonds instead, or just...Would recommend buying TIPS bonds instead, or just buying into a TIPS fund. Even if the US gov has to start printing dollars by the trillions to cover debts, TIPS bonds will at least retain their value against inflation.<br /><br />Actually, tbh, I think withdrawing from the system is a bit too alarmist. Get some money in brazil, china, and the us, if you think the EU is going to do poorly. Be an active goblin, instead of waiting for bad things to simply roll over you, like one of the sheep.Michaelhttps://www.blogger.com/profile/09827557339032342430noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-42293190846054696582011-12-22T15:48:18.981+01:002011-12-22T15:48:18.981+01:00@Tazar: the USD can NEVER go bankrupt.
It is a ...@Tazar: the USD can NEVER go bankrupt. <br /><br />It is a sovereign currency and all they need to do is print more currency to pay their debts. No country with their own sovereign currency can go into debt. Unless they do not have a high debt ceiling cap (the US just increased their ceiling and are currently printing more money in QE3).<br /><br />The big losers are the ones holding debts in USD. It's almost as good as holding a movie ticket and finding out that the movie theatre printed out too many tickets. Sure, you can squack and complain, but there's nothing you can do if the movie theatre is popular and they have hired security to kick those who complain off their property. Sure, you will be pissed off, but at the end of the day, the movie theatre is popular and has the protection it needs to stave off those who could not enter the theatre. <br /><br />Of course, there are issues with the theatre having quality products, good staff, and possible reputation decreases by selling too many tickets, but a good product is a good product. As long as it is not corrupt, it will continue to be the primary choice of most people. <br /><br />The US is a good theatre and can print as many tickets as they want. They just need to keep offering a good service (i.e., knowledge-based services) to the rest of the world, protect its own people and keep printing currency to suit the expansion of its economy.Darhttps://www.blogger.com/profile/14260319870169640162noreply@blogger.comtag:blogger.com,1999:blog-1461700565722278823.post-76564687684496538752011-12-22T15:38:59.944+01:002011-12-22T15:38:59.944+01:00I suggest you consider reading up about Modern Mon...I suggest you consider reading up about Modern Monetary Theory (see http://pragcap.com/resources/understanding-modern-monetary-system). It explains how the ECB and the euro is doomed because it is not a sovereign currency.<br /><br />I have a feeling you may enjoy the read, given the content and the application of this theory with your goblin'ish views. I would also be interested to see what you think of MMT in relation to the M&S of this world.Darhttps://www.blogger.com/profile/14260319870169640162noreply@blogger.com