Where to put my money if things get ugly in the United States

If you really think that our leaders will allow us to default, then I guess under the mattress is as good as any place.

Or in a cookie jar under the floorboards.

As vehemently as each side is opposed to the other side's suggestions, I'm betting that they'll find some way to see beyond that and act to prevent default.
I hope they do it very soon though.
 
I'm nowhere near that worried. Given a credit-crunch possibility once again, I might make sure I have access to cash through several different sources, including a little extra at home. I'll let the rest sort itself out in time. If I wanted to go all market-timey I'd go with emerging market bonds and stocks with major exposure to emerging economies, though with everything so global, FDIC insured cash might be best for now.
 
Food, shelter, protection. That said, if the world goes kerschitt a solid connection with your deity of choice is said to be a comfort.
 
novaman said:
I'm reposting this link from another thread, but supposing the worst happens and the US defaults, where should I be putting my money??

US default: Doomsday for investors - 1 - politics & debt limit - MSN Money
Click to expand...

Well, the worst? When one blows up the world's de-facto reserve currency, there are not a lot of places to hide. The 'rapid revaluation' process doesn't treat anything nicely. Not even genuine gold (plated tungsten) ingots...

Of course, pine cones, acorns, chestnuts, oval rocks and the Triganic Pu can be used at the appropriate daily rate of exchange.

From The Hitchhiker's Guide to the Galaxy "...the Triganic Pu has its own very special problems. Its exchange rate of eight Ningis to one Pu is simple enough, but since Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu."
 
Hmm REW, I didn't know you liked that stuff. Isn't it a little old for you?
 
frayne said:
Our politicians aren't stupid enough to let the country default.
Click to expand...
You have more faith in our politicians than I do.

And more than the ratings agencies have, since they already have plans in place to dramatically lower the US's credit rating if we default -- and they will probably lower it (less) even if we don't.
 
I don't think it will make a big difference if we don't raise the debt limit for a few weeks. I believe it's mostly bi-partisan posturing.

If things really were to go bad, it's back to Y2K planning. MREs, guns and ammunition will be the currency of choice.
 
M Paquette said:
Of course, pine cones, acorns, chestnuts, oval rocks and the Triganic Pu can be used at the appropriate daily rate of exchange.

From The Hitchhiker's Guide to the Galaxy "...the Triganic Pu has its own very special problems. Its exchange rate of eight Ningis to one Pu is simple enough, but since Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu."
Click to expand...
I can sell you a couple of these, I have them parked in orbit around Neptune.
 
I had a friend that lived in Hungary during hyperinflation.
He said they used razor blades as money since they held their value.
 
Animorph said:
I'm nowhere near that worried. Given a credit-crunch possibility once again, I might make sure I have access to cash through several different sources, including a little extra at home. I'll let the rest sort itself out in time. If I wanted to go all market-timey I'd go with emerging market bonds and stocks with major exposure to emerging economies, though with everything so global, FDIC insured cash might be best for now.
Click to expand...

If the U.S. defaults, will the FDIC have any funds available to reimburse losses? Seems to me that nothing, including cash, would be truely safe.
 
OMG, the sky is falling, the sky is falling! :eek: :eek: :eek:

Just kidding. I wouldn't know if it was, or not. :)

I learned some lessons from the aftermath of Katrina, mostly that in an emergency you can't predict what will happen. Most of the standard hurricane precautions did little good because of the immensity of the disaster, and there were other measures that really helped in unpredictable ways.

So, the best approach when confronted with a possible emergency IMO is to cultivate your adaptability, your mental agility, your ingenuity, and your ability to roll with the punches and come up swinging. I think diversification will help. Keep the gas tank, your wallet, and your pantry full, swing and dodge.

I don't think anything will come of this debt ceiling crisis, except some unpopular legislation will be passed at the last minute ("But we HAD to vote for it to save the country!"). But then I could be wrong - - often I am.
 
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IBWino said:
If the U.S. defaults, will the FDIC have any funds available to reimburse losses? Seems to me that nothing, including cash, would be truely safe.
Click to expand...

Agreed. If you read the article I originally posted a link to, if the US defaults, there will be a rapid repricing of EVERYTHING...and nothing will be safe.
 
Ronstar said:
You may be right, but finance and economics are not their strong points.
Click to expand...


True but getting re-elected is and if the country defaults there would be incumbent blood in the streets come election day.

I think the GOP will ride this thing to the 11th hour and agree to raise the ceiling, and no doubt already have some stop gap measure in their hip pocket even now. Nothing more than gamesmanship, and saber rattling at the expense of worrying old folks, some in the financial sector and the world economic community. Just my two cents though.
 
novaman said:
Agreed. If you read the article I originally posted a link to, if the US defaults, there will be a rapid repricing of EVERYTHING...and nothing will be safe.
Click to expand...

Just read the article, and the author does make that point. I'm going to have a martini now and try not to think about it.:)
 
IBWino said:
Just read the article, and the author does make that point. I'm going to have a martini now and try not to think about it.:)
Click to expand...
If seriously concerned look at the steps recommened for the Y2k problem, and do them. Essentially the worst case is another version of the same issue. Find a place in the country that can be defended, get some guns and hole up. Y2k would have had the same effect as the worst case here as Y2k worst case meant that for some period of time the banks and atm machines and credit cards were down. One might also get some old silver dollars as they have value (gold comes in to big a chunk who could give you change?) In the worst case the entire world financial system collapses just as the worst case for Y2k had this happen.
 
The gold that we bought before Y2K is worth 4 times as many dollars, the guns haven't rusted, the rations are probably not much less palatable, the candles and lanterns and water purification stuff is unchanged. I'm reminded that there is most likely $100 in ones in a 5 gallon bug out bucket with some 22 bullets and other stuff - wonder if they have become collectible in the last 11 years...

Same reasoning obtains - if the world goes bang our preparation to survive a descent into primitive times is probably pretty meaningless - an attempt to push back the ocean with a rake.
 
Wow, this looks like a lot of fun happening in the next few weeks. I can't wait! Although I will be vacationing through most of it. Hope I don't have to take my gun and supplies and walk home!
 
In the event of a total collapse I think there will be a major die off of everyone who currently can't avoid driving into a swamp when their gps tells them to turn left. Those of us who may not have a place in the mountains stocked with guns and food may still do ok if we retain some basic skills and common sense.
 
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