Here is an astounding article over at The Daily Reckoning concerning money:
"But today...we have advice for everyone – central planners, politicians, and householders, too: if you have money, pretend you robbed a bank."
The article details some of the "hot money" scams in vogue at the moment. Their conclusions? "If you don’t have your own little stimulus scam going, you may want to listen up. Your dollars, pounds, euros and pesos are going to lose value. Don’t trust the government’s inflation figures."
To me, the message is clear: the dollar is losing value so fast that our (and by "our" I mean ordinary citizens of this country) only recourse is to buy tangibles.
Of course you could purchase "tangibles" in the form of big-screen TV's and diamond earrings, but I think you'd be a damned fool to do so. You can't eat electronics or jewelry. Far better to yank your money out of the bank and put it into something useful like stored foods, guns and ammo, a pressure canner and a bunch of canning jars, etc. Even gold or silver if you can afford it.
Naturally I'll insert the cover-my-butt codicil here that I'm not an investment advisor and don't even play one on TV. But when we have money to spare, we don't keep it in the bank. We buy a Jersey heifer or a roll of field fencing or more rice or other things that will serve a useful purpose in the future.
My two cents. (Which is about all I'm willing to keep in the bank these days.)