21 votes

Asked my financial adviser if he thinks there will be a new World Reserve Currency in the next decade

He said no. He squirmed before finally saying no, but then proceeded on a dooms day spill saying how he doesn't think that will happen any time soon, blah blah blah but admitted that HE has made preparations for such an event.

I've been feeling extra paranoid/alert/concerned here lately (way before the shutdown) about the US Dollar crisis that is soon to come. So, I've been looking into purchasing some gold and silver. I told him about what I was thinking about doing and he says he is more partial to silver than gold. That would probably be a good investment if I were thinking short term selling, but I want to make a long term investment so I'm leaning more heavily in gold.

With the media hyping everything up lately, I think he thinks, thats what has me so scared. He doesnt know I'm a Ron Paul Libertarian who believes is Free Austrian Economics and has read 'End The Fed.' So I'm not really sure how to approach him about what I really think is going to happen with the economy. Anyone gone through anything like this that has some advice? I don't want to leave the guy because he has done quite well for me overall.

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Why do we moneybomb?

Why do we moneybomb politicians here on the DP, but seem to not see a more pressing need to help our fellow man?
I will support a moneybomb for averagejoe1776 or anyone else who is in similar situation.
Any Komputer Tech Weenies on here? who can set up a link to a Moneybomb for a fellow DP'er in need?
Politicians who has the support of millions with millions in the bank gets our help $$$$ hands down, but....average joe with wife, kids, and etc. etc. etc. could lose job and lose it all...My prayers and sympathies for anyone in this situation.
Confirm this Michael and I will donate whatever I can.
LIBERTY for fellow DP'er....Please, OK
Please don't give me a story about why we moneybomb, that's just my title...Tell me why we don't moneybomb a fellow American who is in jeopardy of losing it all. OK
Help me help this guy out, OK

Cyril's picture

Related: "Why the World is Preparing for a Reset"

Related:

Why the World is Preparing for a Reset

http://www.dailypaul.com/311728

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

One thing I have learned.

I worked in the North American financial markets for 25 years and my original introduction to "the coming collapse" thinking came during the 1990-92 recession of GHW Bush. I do believe that the world economy is very sick due to all the things we discuss here at the DP. However I have come to the conclusion that it is impossible to time the "big event" whatever shape that may take. This means that the best approach is probably the cautious one that says hope for the best but plan for the worst.

Having said that my own personal belief is that we are very close now to the change that everyone talks about and that change, in my personal view, will be the replacement of the US dollar as the world reserve currency with a gold trade note that will be settled in physical on completion of an agreed trading cycle. This will be similar to the international bills market underpinning the classical gold standard that ended in 1914 and was never re-instituted.

I also believe that every country will be free to determine their own national currency arrangements but that whatever their decision their national currency will have to be marked to the international gold trade note market.

There will be I believe an interim period, of unknown length, when credit will dry up completely since the present global monetary system will have to be completely replaced by the new system. The present system is of course all based upon credit/debt so this is why i believe it will simply disappear. This means that as an individual it would be prudent to maintain a store of physical gold and/or silver and a stash of cash since in all likelihood even FRNs will remain legal tender until the new system is in place. Gold and silver will I believe be revalued much higher to provide adequate liquidity for the new markets. In addition to these monetary precautions it would be wise to keep a good store of non-perishable food in case the food distribution system breaks down for a while.

I have read of people advising that taking on debt would be a good idea if inflation is ahead. My own view is the opposite. The reason I believe this is that all debt notes, to my knowledge, contain draconian provisions for seizure of property and assets in the event of a credit/debt crisis. That these provisions will be acted upon is I believe a certainty.

The financial derivatives that many believe make the biggest banks vulnerable have been legally protected and provided with primary claims against ALL property and assets insured by them. These banks who are at the core of the present monetary system will use their legal powers to seek to seize ALL assets and property covered by their agreements. The only defence against such seizure so far as I know is the claim of odious debt and that may take some time to implement and prove. If the new system is going to be a just one then it is likely that these claims and counter claims will have to be settled before the old system can be finally wrapped up.

So, to end where I began, it is beyond my ability to know or even guess when the process we are enmeshed in will finally end. However as Churchill said after the Second Battle of El Alamein, "Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."

PS. Here is where I buy PMs. www.goldmoney.com

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

Cyril's picture

I concur - "Hope for the best but plan for the worst."

I concur.

"Hope for the best but plan for the worst."

That's all there is to it, imo, as well.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Dentist

I went to the dentist and paid by cash. I asked the clerk how many people still paid by cash...she said less than 1 per cent lol

donvino

Why tell anyone

that you want to buy gold or silver? Nothing's safer than secret buried gold.

I'm a little disheartened

I only have a couple people where I can have an intelligent conversation with this topic. The rest of my friends just kind of glaze over so I'm not sure how to translate what is happening into a conversation that the everyday Joe can grasp.

Probably already viewed this, but

pass it on to those who get the glazed look. If they don't show some interest after viewing it, then likely not worth your time pursuing it any farther.

https://www.youtube.com/watch?v=iFDe5kUUyT0

Paul 3V0L's picture

Thank You

I meant to thank you a long time ago for sharing this. I had not known anything about the videos until you posted. I have now watched all of the episodes three or four times and even had a sit down with most of my family and made them watch it lol. Thanks again.

Not all of us are bad

I'm a Certified Financial Planner (tm) and die hard Ron Paul supporter, although I almost never comment on here. I've told most of my younger clients that their retirement could be priced in SDR 's and not dollars. Ive also tried to maneuver my older clients to minimize damage from the bond bubble popping. I've been called a conspiracy theorist by some even for pointing out the $85 billion QE program.

Most advisors think inside the box and have no idea how the fed really works. It also doesn't help that the average advisor is 55 years old. Although I've done a pretty good job converting the neocons in my office to accept libertarians.

The problem is only a handful of colleges mention Austrian economics. I took a class on the Fed in college and my class won the national Fed challenge over the likes of Yale and Harvard..and our saying was "in fed we trust". I went on to become one of the youngest CFP's (r) in the world at 25 yrs old, and I will tell you none of the test focus or even mention Austrian economics.

I'm proof that there are some good advisors out there. I even ran an entire marathon carrying a Ron Paul 2012 sign that you can see in my avatar. Due to strict social media rules I can't get into detail on here but my website is www.retirementisnotasprint.wrfa.com if anyone wants to get ahold of me in a state I'm licensed in.

"I believe that banking institutions are more dangerous to our liberties than standing armies" TJ

I have a 'financial planner guy' story

My best bud, Pinky, voted for Ron Paul, and has been prepping a little bit. Her husband hates RP (parrots everything MSM says) and thinks she's a paranoid kook for prepping.

They went to their financial guy recently, who suggested they divest of 'this 'n that' and put it all into physical PM's. He made some comments about the Fed and the Liar-in-Chief, and said he believes 'it's all going to go to Hell; there was only one politician who could've stopped all this madness, but.... "

And my friend Pinky says "Ron Paul?!"

Yep. And her husband, who apparently really respects this financial guy, well his jaw hit the floor.

Pinky and Stinky are now the proud owners of a fat stack of the fizz, and $1,500 worth of food storage. LOL!

When a true genius appears in the world, you may know him by this sign: that the dunces are all in confederacy against him. ~J. Swift

Would've loved to see

Would've loved to see Stinky's face at that moment :)

Take it from someone that has sat on the opposite side

of the desk, you don’t owe this guy any loyalty. He, as you have said, has done very well for you, but he didn’t do it for free…..he has been paid. He also has done it during a time of inflation……raising tide lifts all boats.

Without knowing anything about you, I wouldn’t dare give you investment advice and I am very well trained how to do that. But what you have to ask yourself is this.

1. Why do I want to buy some gold or silver……what is my objective?

2. What percentage of my portfolio do I need in these products? ……answer to number one may determine the answer to number two.

3. If it goes down 10% ….how will I feel?
4. If it goes down 50% …….how will I feel?......answered by #1
5. What is my exist strategy?
6. If it goes up by 50% would I sell……if so how much…..plan your exist before you make your purchase.
7. Above all else…..buy physical metal…….you can sell it anywhere. As a matter a fact I sold some to the people that advertised on the DP……they gave me a good price.

Oh man, this again? Look, it will help if you get one thing

clear.

You cannot invest in gold or silver.

You can speculate on their price.

You can speculate on the price of derivative paper instruments.

You can invest in mining companies via purchase of stocks and bonds they issue.

I know some people throw the term around very loosely, but that is also a habit that causes so much grief and debate in nearly every circle and on every issue.

If you want the best hedge against inflation - go with gold.

If you want long term savings - go with gold.

If you want spendable and convenient sized/valued coins for when the SHTF - go with silver.

Sure, your gold will spend too, but not as easily because silver is in sizes and of values that are more useful for everyday commerce.

Gold is better for large purchases as ounce for ounce, it is worth more.

If future currency is what you are after, purchase silver in small sizes (less than 1 ounce) up to about $5000 face value.

Then start in on fractional gold, various sizes for another $5000 face.

Then go back and add in dollars and whole ounce silver, or even larger bars, followed by whole ounce and double eagle gold, as well as bars.

Alternatively, you could come up with a more fine tuned ratio of each based on your present spending habits and standard of living. (think of the "1 year's worth" nest egg principles)

If you don't want physical and just want to gamble on the future value of paper derivatives - then sure, by all means, hop into an ETF or something similar - silver for short term gain, gold for long.

Silver is better than gold...

...because in a full blown economic breakdown, silver has anti-microbial properties that could make it useful to yourself or the local doctor, even if there is no functioning metals market. Not very long ago, milk delivery people (i.e. the milkman) would put a silver dime into the gallon of milk, as that delayed spoiling. Many people would toss a silver dollar into their rainwater cisterns to inhibit baterial growth, although most of them didn't really know why it worked. It's entirely a topical/external type of use, but it's a common & local use of silver that gold does not share. In the absence of a metals market, gold is only useful to the common man as a replacement for lead in bullet molds.

Most competitive investment?

Most competitive insurance?

What is the difference between money and currency?

If you use the scarce power you now have in such a way as to increase the power supply, then you are investing.

If you use the scarce power you now have in such a way as to secure that existing power against loss, then you are insuring.

Saving, or insurance, earns nothing, and it is a relative cost compared to sound, earning, investment.

Example:

Buy Gold.

Buy Solar Panels.

Right now Gold can become much less valuable in time IF there is a lot of Gold stored/saved as insurance or hedging, and that large supply suddenly floods the market, and instead of Gold being scarce/expensive/hard to get, Gold become relatively plentiful/inexpensive/easy to get.

Or

Gold can become even harder to get, in time.

Solar Panels right now are able to produce more POWER compared to the POWER needed to get one.

Solar Panels can become a very bad investment if someone invents, produces, and has on the market a much more competitive THING that can produce more POWER for the person who owns the THING, such as a Microwave oven sized nuclear fusion reactor that each individual home owner can buy, and safely use to produce more electric power than the whole block of residential houses, with people using electricity, want, or need.

You could replace the Electric Company for your whole block, and you can earn an income even while selling electricity at half the cost of the current price.

Thinking in terms of savings or insurance versus production and investment a pile of Gold can't heat the food, heat the house, run the water pump, run the water purifier, slice, dice, mix, run the radio, television, computer, radar, or light the house up at night.

1.
Store POWER against loss

2.
Use POWER to make more POWER

3.
Use POWER to steal POWER (compete with the criminals who now have badges and licenses to steal, rape, torture, and mass murder)

Hedge?

Joe

From what I can gather,

the talk was of 2 global split currencies first, the Euro, and the yet to created Pacific dollar,(probably hiding behind the TPP). After that they would merge into a single World (UN) currency.

One cannot prepare for mass chaos

there are too many variables. Live your life, spread the message of freedom as best you can and enjoy your life aslong as it does not hurt others. When the time comes, and if it does that all hell breaks loose, just keep living the best you can. We cannot allow these bastards to take our light, they can take our lives possibly, but don't let them take your light. Keep your head up, strap your boots on and tread happily in mud if that is what it takes. These bastards want to steal our zest for life, because they believe zest if of material belongings, that is not zest. The r3VOLution is LOVE, that is what we must all hold onto, if you have love the world will never become dark. God bless you all, hold onto LOVE, and long live the r3VOLution.

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

I don't think it will

happen in our lifetime!

Silver above ground is being depleted

at an alarming rate, mostly because it is used in most high tech electronics. The amount of Gold above ground on the other hand has been increasing for years since it is never thrown away and used very little in industry.
20 years from today Silver will probably be worth more per ounce than Gold owing to its scarcity and our dependence on it. Buy Silver.
Also, if Gold goes to $10,000 per ounce and silver hits $250, and you need $500 worth groceries to tide you over for a few days, what do you take to the store, an ounce of gold or 2 ounces of silver?
When that happens carrying more than you need will probably be confiscated anyway - remember "redistribution of wealth" which is being implemented in a hundred ways as I speak.
I have some silver bullion, but taken to buying Rosie 1964 or earlier dimes (90% Silver) as a way to use exact amounts without melting (or smelting) an ounce of gold bullion.. Buy Silver.

most of them willfully ignore the reality

I've known two such persons very well.

One was a full on austrian econ guy and an investment professional, very respectable. He was on the same page with all the Austrian econ stuff.

The other is a more standard establishment type, and he told me that on some level, he knows it is all a hoax and will all melt down as it is a "house of cards" (his words). This from a licensed financial planner with an MBA from USC. He will not listen to peter schiff etc however because he thinks it is just negative.

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

Even George Bush called our

Even George Bush called our financial system a house of cards. It was in one of his speeches after 9/11 when he was asking us all to go out and spend money, to buy refrigerators, etc.

...

Michael Nystrom's picture

Most conventional financial advisers are

very much 'inside the box' thinkers. They go to school, they have to memorize things for the test that they have to pass to be certified in their profession. The profession itself is very conservative. No doubt this man believes US T bonds are a risk free investment.

However, it is curious that he himself has made preparations.

The way I would approach it is ask him out for dinner or a drink. Get him out of his office. Loosen him up with some alcohol. Then ask him what kind of preparations he's made and see what kind of a thinker he is. Maybe he's a Ron Paul guy too!

But remember, whatever he says is just a point for reference. No one knows the future. This is something that you really have to hunker down and meditate on for your own particular circumstances.

As for gold-vs-silver. Gold is around $1300 / oz now, and silver is around 22. That means you need close to 60 oz of silver to preserve the same amount of wealth as gold.

What if you have to run? Gold is much easier to carry.

On the other hand, you'll want some junk silver for day-to-day transactions, should the entire system break down for a while.

I have no doubt that day is coming. One day the government will really shut down and won't open back up.

When it is coming is anyone's guess, however. Then again, it may never come.

The only way to make sense out of change is to plunge into it, move with it, and join the dance. - Alan Watts
Paul 3V0L's picture

We had a few beers together last month.

I know the guy pretty well. He is my college roommate and good friend's step-dad. I know exactly what kind preparations he has made and he is prepared for SHIT. TO HIT. THE FAN. He's stocked up on everything lol. I saw last month after telling him I was worried about what's going to happen in America in the years to come. This was my first attempt at telling him I'm nervous about what's going to happen. He kinda just chalked it and said he's been thinking that for two or three years now and went on to say it could happen next week, next month, five years from now or that it may never happen. But, said it doesn't hurt to have some provisions in place for such an event. Food, shelter, ammo etc.

He's not a Ron Paul guy. Im pretty certain of that. I wouldn't doubt it if he was a financial contributor to Giuliani in the'08 primaries before he dropped out. I remember seeing a picture of the two of them in his office. He's the typical right wing guy who watches Fox News and even referenced Glenn Beck to me when we were talking the other day. He knows im conservative and hence assumes I'm a Republican spouts off some Fox News gibberish and expects me to agree. He doesnt know I'm "awake" I guess is what I'm trying to say.

He is ahead of the curve on T bonds. We discussed unloading bonds from my family member's portfolio that he had just taken over.

I'm really just not sure how to ask what I really want to ask without sounding like a paranoid nut job. I don't want my money (and the money I will inherit) to be all tied up in mutual funds. But that's where he recommends the bulk of my money should be. I know his kids are also invested much in the same way as I am so I know he ain't selling me on some crap he isn't following himself.

I feel lost.

Sorry man.

For my comment. I was having a really hard time when I wrote that. Good luck to you.

Paul 3V0L's picture

No worries

Apology accepted. Your comment actually made me rethink some things. Thanks for having the decency to come back and apologize. Hope you are doing better and best of luck to you too.

life is easier without money

Life is so much easier when you don't have money. LOL. how about just buying a bunch of stuff other people will want when things go to heck. Then you have stuff to trade and sell.

If only I had your problem.

My job is about to be out-sourced. I have a wife and 4 kids under 10. We will loose everything. Tell me again about your "lost" feelings. Buy some fucking silver and shut the fuck up.

God damn all companies (and especially those in charge of them)

who outsource American jobs. God damn them to Hell without mercy. Amen.