Author Topic: Safest Place to Park Your Cash  (Read 7908 times)

Offline Stein

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Safest Place to Park Your Cash
« on: December 15, 2008, 12:04:28 PM »
First, there is no "midnight gardening discussed", only bank type options.  That said, this is a good article for anybody trying to figure out what the different choices available are and what the pros and cons are.  If you are keeping money in the system, this pretty much outlines your options outside the stock market.

http://finance.yahoo.com/news/Safe-places-to-park-your-brn-13816212.html

Offline Gas-Mask

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Re: Safest Place to Park Your Cash
« Reply #1 on: December 27, 2008, 03:03:40 AM »
GOLD!!!!!  GOLD!!! GOLD!!


WELL NOT ALL BUT SOME....

You need to diversify...

rumors of a formal devaluation of the dollar....  savers will loose!

But don't take my word for it...  read up on the subject, that way you can make your own personal decisions based on your individual needs.

Offline BerserkerPrime

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Re: Safest Place to Park Your Cash
« Reply #2 on: December 30, 2008, 10:31:08 AM »
Question:  What kind of gold do you buy that you'd be able to use in a "crisis"? Where do I go and what am I looking for?  Specific  coins, bars, nuggets? 


Berserker Prime

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Re: Safest Place to Park Your Cash
« Reply #3 on: December 30, 2008, 11:36:53 AM »
If you are prone to watching things pretty closely - I'm parking my cash in Swiss Francs.  I'm up 13% in two weeks.  As long as the dollar is weakening,  just have to watch for when it starts to strengthen.

Offline Stein

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Re: Safest Place to Park Your Cash
« Reply #4 on: December 30, 2008, 11:26:40 PM »
Question:  What kind of gold do you buy that you'd be able to use in a "crisis"? Where do I go and what am I looking for?  Specific  coins, bars, nuggets? 


Berserker Prime

Well, for starters drop bars and nuggets, way to hard to assay even in good times (determine how much gold is there).  Second, figure out what you want to be able to do with it during a crisis.  Do you want to use it as a store of value or do you think you will want to trade for stuff like food and guns?

For the former, I would buy Gold Eagles or Krugerrands, for the latter I would buy food and guns.

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Re: Safest Place to Park Your Cash
« Reply #5 on: December 31, 2008, 02:14:18 AM »
I got gold in different denominations and 1 oz. silver junk coins for a way of conserving my capital but to also use to trade in case of a meltdown.  I think bars and nuggets would be better for value cuz you are less likely to have to pay/give up any $ to trade in/buy.

Offline Gas-Mask

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Re: Safest Place to Park Your Cash
« Reply #6 on: January 03, 2009, 01:36:35 AM »
I go with gold eagles, rands, junk silver and silver dollars.... You want to diversify everything.

It's easier to use in coin form because it will be easy to identify...

nuggets? well, I don't see much of them.... If the TSHTF.....  coin will be very common due to them being very popular.

Offline BerserkerPrime

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Re: Safest Place to Park Your Cash
« Reply #7 on: January 03, 2009, 10:41:14 AM »
I go with gold eagles, rands, junk silver and silver dollars.... You want to diversify everything.

It's easier to use in coin form because it will be easy to identify...

nuggets? well, I don't see much of them.... If the TSHTF.....  coin will be very common due to them being very popular.

I guess nuggets sounded kind of stupid, but they are very common up here :).  There are alot of claims and a hell of a lot of panning and I expect there to be more this next spring.  Thanks for the info....

BP

Offline Ultio1

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Re: Safest Place to Park Your Cash
« Reply #8 on: January 03, 2009, 10:44:09 AM »
Your pocket.

Offline BigDanInTX

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Re: Safest Place to Park Your Cash
« Reply #9 on: January 03, 2009, 07:38:25 PM »
I'm using an ING Direct savings account for some.  I'm also buying junk silver and silver American Eagles.  Also, keeping some in a fire safe.

I keep looking for those 1/10th Gold Eagles, but haven't found any yet.

Offline Stein

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Re: Safest Place to Park Your Cash
« Reply #10 on: January 04, 2009, 10:10:05 PM »
I'm using an ING Direct savings account for some.  I'm also buying junk silver and silver American Eagles.  Also, keeping some in a fire safe.

I keep looking for those 1/10th Gold Eagles, but haven't found any yet.

Here is where I bought some, but they are out right now unless you want to pay $550 for some fancy ones!

http://www.apmex.com/Category/292/Gold_Eagles___1_10_oz_2008__Prior__.aspx

They should be getting some in within a few weeks, I seem to remember Jan 9 or somewhere around there for the 2009 Eagles.

Offline BigDanInTX

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Re: Safest Place to Park Your Cash
« Reply #11 on: January 05, 2009, 11:44:27 AM »
Just found this...
http://store.nwtmint.com/product_details/907/Gold_Eagle_1_10th_Ounce/

$119.15 each for 1/10th American Eagles... 

Also found 1 gram bars...
http://store.nwtmint.com/Bullion/Private_Label_Bullion/
1 Gram Gold Bar - $48.63
« Last Edit: January 05, 2009, 11:54:22 AM by BigDanInTX »

Offline Stein

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Re: Safest Place to Park Your Cash
« Reply #12 on: January 05, 2009, 02:46:12 PM »
Be careful, NWTM has a less than stellar reputation.  They are located within driving distance from me but I wouldn't use them.  I have read many posts from people who have to wait months and months for a shipment and NWTM is being investigated by our state Attorney General for deceptive practices.

Offline Zombie Axe

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Re: Safest Place to Park Your Cash
« Reply #13 on: February 26, 2009, 07:41:53 PM »
I'm using an ING Direct savings account for some.  I'm also buying junk silver and silver American Eagles.  Also, keeping some in a fire safe.

I keep looking for those 1/10th Gold Eagles, but haven't found any yet.

I have heard there is a significant mark up on the 1/10oz vs. the 1/4 oz pieces :(

British Sovereigns have WORLDWIDE recognition (the sun never set on the British empire) price ain't too bad for 1/4 oz either...

Makes more sense than putting moeny in your 401k :)

MAKE SURE YOU HAVE POSSESION OF ALL PRECIOUS METALS (aka NO safety deposit boxes) and DO NOT INVEST in PAPER Gold or Siliver...

Offline longhaul

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Re: Safest Place to Park Your Cash
« Reply #14 on: March 10, 2009, 12:57:43 PM »
What was that old quote something about how 'only when the last tree is cut down the white man will realize that money cannot be eaten..."

Shelter - Food - Clothing - Heat/Fuel - Defense - Community - Etc...
You catch my drift - currency is only valuable if it can be exchanged for something necessary.

I invest my extra dollars in:
-Expanding food gardens
-Fruit and nut trees, berry shrubs (especially nutrient dense foods)
-Solar hot water, weatherizing my home, needing less fuel
-Ponds for fish
-Time for skill building for raising food, hunting, foraging
-Animals, fencing, a barn
-Arms
-Wood heating systems
-The highest quality tools I can afford, emphasizing hand powered tools
-etc...