Hmmm... I think this deserves its own thread. A stunning about-turn. http://www.telegraph.co.uk/finance/economics/5050407/US-backing-for-world-currency-stuns-markets.html
Commodities and real estate. Invest in them, as they will be beneficiaries of a weaker dollar. Thank me in several years.
Already doing that. I always prefer something solid rather than a piece of paper. It's the Chinese side of me.
Sorry, didn't see that. Back to topic, not the first time Geithner has put his foot in his mouth, probably won't be the last either.
Of course he didn't really mean it. That would be pure disaster for the US right now. But the damage has already been done. The seeds of doubt have been sown. You can expect the Chinese, the Russians, and other new emerging economies to keep pushing the idea at the G20 summit and throughout the coming years, and the idea will gradually gain steam. The end result? Don't put all your eggs in the US dollar basket.
I put nearly a third of all my savings in gold, but I would be interested to hear your ideas as well Jorge. In regards to the U.S. dollar, I started seeing the writing on the wall a couple of years back before things got really bad, and decided to have a more diverse portfolio. Thankfully, I also did not have much money at all in the market (a couple of grands is all) so I was not hurt by the stock collapse.
I'd be willing to bet that half of you reading this advice on commodities are heading out to Lowe's in search of a new commode. For a lot of the readers of this board, the only difficult commodities choice involves deciding between porcelain or aluminum. True statement.
HO HO HO The_Conquistador is a man of great means and therefore great wisdom. If you believe that the dollar will decline in value as a result of the upcoming budget deficits and increases in national debt, and the cranking up of the printing presses to print money to fund the Obama voters' unemployment checks, food stamps, abortions, uninsured claims at the hospital, and voter fraud efforts, as I do, then you would be wise to invest in commodities that are traded in US dollars. Oil and coal are two. I would also look at platinum, which plays to the catalytic converter market and emissions reduction story, as well as the growth in auto sales in developing nations over the next several years. Uranium is a decent bet as well, if nuclear power generation takes off. I also like iron ore, which is vital to China and India's growth (as evidenced by China investing in Fortescue, Rio Tinto and OZ...). EVERYONE IS WELCOME TO ENJOY MY FRUITS
Would ice cream be considered a commodity? We all know depressed, broke people eat tons of ice cream. My only question is: Blue Bell or Baskin Robbins?
Cold Stone >>> Baskin Robins. Blue Bell best store ice cream. Cold Stone owns them all. If you don't have one, than I feel for you.
