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Subject:
Safe assets in a post-WMD United States?
Category: Business and Money > Economics Asked by: anonoboy-ga List Price: $10.00 |
Posted:
15 Aug 2004 06:35 PDT
Expires: 14 Sep 2004 06:35 PDT Question ID: 388099 |
Something happened to make my original post non-answerable, so I have simplified and posted my question(s) here again. No on has yet answered or commented. Suppose that the (once) unthinkable happens: one (or, God forbid, more) WMD go off in some urban area of the USA, and the government declares martial law. http://www.newsmax.com/archives/articles/2003/11/20/185048.shtml Citizens would likely feel profound fear, grief, confusion, and distrust of their government. There would be much anxiety and agitation. What would be the practical day-to-day change for the those citizens who do NOT fit any terrorist profile? What about observable changes in lifestyle and behavior? Would you consider emigrating to Canada or another country? Finally, assume you're personally in good shape: you own your own home in a small-town, your family is safe, you have enough food and water and shelter indefinitely, and you have no more than $100K in any bank (for FDIC protection). How would you best protect your *other* assets in this uncertain world? Would you leave deposited dollars in an FDIC-protected US bank, or would you convert them into gold? diamonds? Other currencies? US land? Land abroad (if so, where?) Millions of people may have to face this question. Better to consider it *before* the fact: Given the chaotic nature of a world gone mad, where will be the safest place to park your assets? |
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There is no answer at this time. |
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Subject:
Re: Safe assets in a post-WMD United States?
From: probonopublico-ga on 15 Aug 2004 12:45 PDT |
In a world gone mad, the only assets of any value will be tangible goods such as food, medicines, potable water, basic weapons and ammunition, and somewhere to live while the food, water & stuff last out. A good cave in the hills could be useful, also some farming implements and seed. Maybe a saw, a hammer and some nails and plans for 'How to Build an Ark'. Your mobile phone, tv, CD-player, car, computer and such like might make interesting ornaments. Start collecting NOW and don't forget a copy of the Bible or the Koran or whatever so you that can pray that you are only having a nightmare. Oh and please don't count on me to give you any more helpful Comments, because I intend to become the new Emperor of the post-Nuclear Hereafter, and I won't have time to help anybody but myself, Daisy and maybe Pinkfreud. OK, Leli can join my Court, as well. And fp-ga, who also seems to know a thing or two. Anyhow, there will be a very strict rule: No Hangers On! |
Subject:
Re: Safe assets in a post-WMD United States?
From: anonoboy-ga on 15 Aug 2004 15:37 PDT |
Thank you for your response, although it indicates that I was unclear in my question. I do not assume the US will be unliveable, or that gangs of thugs will roam an anarchic country. Quite the contrary: I assume martial law and United States that other countries may no longer invest in, thus drastically devaluing the dollar. Under such circumstances, what would be the most intelligent method of to storinf value: gold, diamonds, land, land in foreign countries, something else? |
Subject:
Re: Safe assets in a post-WMD United States?
From: diverdon-ga on 21 Aug 2004 09:00 PDT |
The world provides a multitude of risks, some combination of which will doom any single asset class. The key to safety is diversification. If you buy long term bonds, there is the risk that rising interest rates will make them worth less. If you buy gold, there is the risk that a safe world will make the price of that commodity will go down. If you buy stocks, economic problems (including terrorism) can harm there earnings and cause there price to decrease. If you have cash (insured short term securities) inflation can destroy your wealth over time. If you think you can outsmart the markets you can make a lot of money when you are on a roll, but your profits can also evaporate quickly when the trends go against you. Any single class of assets can be destroyed, diversification is the key to safety. If you set up your financial assets so that what causes one of them to go down makes another rise even more, then you have some safety. I recommend 25% Gold Bullion, 25% long term T-bills, 25% equities (I like the Wilshire 5000), 25% Cash. As the world changes around my one or more of my asset classes is always positioned to benefit. |
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