[politicket]

What can folks do to protect their assets?

I only play an investment counselor on TV. Seriously, my family went to cash last December. We're losing money due to the devaluation of the US Dollar, but not like we would have lost if we stayed in the market.

The other thing that I would recommend is to prepare your household for an economic collapse. I'm not saying that it will definitely happen, but you don't want to be making plans the day it does. We're raising chickens and growing quite a bit of our own produce. Keeping the ammo stocked probably isn't a bad idea either.

P.S.: This has nothing to do with the upcoming election - even though there are many on FR that will tell you that. It has to do with many bad financial risks and decisions that are rapidly collapsing.

[RockinRight]

I'm not saying that it will definitely happen, but you don't want to be making plans the day it does. We're raising chickens and growing quite a bit of our own produce.

We live in a condo. How's that gonna work?

[PugetSoundSoldier]

Seriously, my family went to cash last December. We're losing money due to the devaluation of the US Dollar, but not like we would have lost if we stayed in the market.

Put your cash here:

It's corrected 7% so far this year, and will do another 15% in the next 8-15 months (it's done 16% over the last 12 months). A $1500 trip to Hong Kong can do wonders for your investments, just on the exchange rates.

Get your passport, a current utility bill (original one), and get thee to Hong Kong. Go to the HSBC just two blocks from the Central ferry terminal. Then open up a foreign currency private account in HKD, USD and CNY (Chinese Renminbi). Make deposits from USD and convert them to CNY.

You get the exchange rate, but you're in an economically open locale of Hong Kong, and have world-wide access to your funds via any HSBC office (several on the West Coast, and heavy in the North East), and via Internet access to your funds (can do a 24 hour transfer to any US account). And with the debit card, you can get your funds from ANY ATM worldwide.

Seriously, it's a free 15%; the 0.75% interest you can make on CNY denominations is just extra.

Oh, and while there go spend a day or two decompressing at the Silvermine Beach Hotel... You'll feel much better!

[rbmillerjr]

“my family went to cash last December”

I did it too, my discretionary investment money went mostly short and my 401k all went to cash right around 14,000 on the Dow. When I did it, everybody called me a fool. Broker friends advised me to “buy and hold” lol.

I picked a few quality stocks and a high flyer to trade a little up and down, but my shorts have been doing the best and my cash in the 401 lets me sleep at night.

[CGASMIA68]

yea me to CD’s no more than 75 Gs at 1 institution....BFD