Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (11528)	9/9/2004 9:29:55 AM
From: Tommaso	Read Replies (4) of 116555

Has anyone posting on this thread ever lived for some time in Argentina? I would like to know more about how people there preserve real wealth and possibly increase it. Yes, I know the first answer is "put your money into stable foreign currencies"--but I no longer believe there is such a thing: not even the Swiss Franc. And I know the next answer is "gold." And the next answer is "houses." But I would be interested in hearing any other strategies. I have not looked at the Barron's from last weekend where I udnerstand Paul Volcker is quoted as saying that the U. S. will face a major monetary crisis in the next five years, but I believe it. To me, that means maybe a partial repudiation of public debt and devaluation of the dollar to something under half of what it is now worth, perhaps even lower. I now wish I had stocked up on platinum coins five years ago and I congratulate anyone who did. Unlike gold, platinum is an extremely useful metal as well as being rare.

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