Yes, the Yen and the Swiss Fr. are IMO the best defensive measures. Gold, too, though it is more volatile.
I buy Yens and Swiss Frs. through ETFs, FXY and FXF.
At some point, the Yen is going to pop up considerably because it is an inherently strong currency. The Japanese government does its best to keep it down in order not to adversely affect Japanese exports, but this in my view adds stability and the possibility for profit vis a vis the dollar.
I don't expect stellar results from either the Yen or the Fr., but I do expect peace of mind. And I have gotten it.
I don't trust US money market funds so I keep excess cash in US Treasury funds, Vanguard and T. Rowe Price. Every single money market fund I have looked at owns some form of asset backed security to juice up returns. Since it is devilishly difficult to know which asset backed stuff they own, I avoid them all and put excess cash in US Treasury funds. Definitely not exciting, particularly as inflation is higher than the yield, but ultrasafe.
I am taking fairly extreme steps to protect capital while at the same investing in some vehicles some would say are too speculative. I say it is not speculation but investing on my view of the future, which is dim. |
