Protecting myself from a dollar crash
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You know I respect you guys and gals more than I let on here, especially when I come here first for advice. I know between all the snarky replies, there will always be a nugget of gold I can act on. So real simple, I have read the future, ( i do still own the magic 8 ball) and it portends for a mighty fall of our dear george washingtons. Something like this could drastically alter most peoples' futures and looking selfishly at mine, it could be a double whammy living in a country that runs on the Euro. I realize not much I can do about monthly pension and social security payments, but my government 401K is waiting for me to retire in 2 months to start earning his keep as I will not be allowed to earn my keep any longer on an Elective Residence Visa in Italy. I want to turn dollars into gold silver and maybe platinum to brace myself from such a future. Am I thinking in the right direction? Anything better?
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I would mostly keep it in stocks, mostly US stocks, with maybe a gold hedge and if you’re feeling it a gold and a bitcoin hedge. You can effectively own both inside your 401k using ETFs. I don’t know the best bitcoin options but GLD gives you efficient exposure to gold.
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May I suggest $TRUMP ?
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If the future is anything like the past, the dollar's likely to be a lot more secure than the Euro. Just saying.
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I have to imagine in 10-15 years the whole "we pay 1-2 trillion dollars per year on nothing but the interest payment on debt" will eventually cause some sort of massive ripple effect. I'm not smart enough to know what that looks like, maybe AI can tell me in a few years. I'd imagine Trump will pump up the market numbers for a few years, but once it's get frothy again, might be wise to switch into low risk ETFs until after whatever crash happens....
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I have to imagine in 10-15 years the whole "we pay 1-2 trillion dollars per year on nothing but the interest payment on debt" will eventually cause some sort of massive ripple effect. I'm not smart enough to know what that looks like, maybe AI can tell me in a few years. I'd imagine Trump will pump up the market numbers for a few years, but once it's get frothy again, might be wise to switch into low risk ETFs until after whatever crash happens....
@89th said in Protecting myself from a dollar crash:
have to imagine in 10-15 years the whole "we pay 1-2 trillion dollars per year on nothing but the interest payment on debt" will eventually cause some sort of massive ripple effect.
It's worth noting that a number of European countries have higher per-capita debt than the US. Ireland's is almost 10 times as much - that's about a gazillion percent using Trump-math.
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
I was only joking
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@89th said in Protecting myself from a dollar crash:
have to imagine in 10-15 years the whole "we pay 1-2 trillion dollars per year on nothing but the interest payment on debt" will eventually cause some sort of massive ripple effect.
It's worth noting that a number of European countries have higher per-capita debt than the US. Ireland's is almost 10 times as much - that's about a gazillion percent using Trump-math.
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
@Doctor-Phibes said in Protecting myself from a dollar crash:
@89th said in Protecting myself from a dollar crash:
have to imagine in 10-15 years the whole "we pay 1-2 trillion dollars per year on nothing but the interest payment on debt" will eventually cause some sort of massive ripple effect.
It's worth noting that a number of European countries have higher per-capita debt than the US. Ireland's is almost 10 times as much - that's about a gazillion percent using Trump-math.
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
Yeah but doesn't the world use the US dollar as THE reliable and infallible stable currency, whereas whatever currency Ireland uses, pints o'guinness or something, Asia markets couldn't care less about?
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@Doctor-Phibes said in Protecting myself from a dollar crash:
@89th said in Protecting myself from a dollar crash:
have to imagine in 10-15 years the whole "we pay 1-2 trillion dollars per year on nothing but the interest payment on debt" will eventually cause some sort of massive ripple effect.
It's worth noting that a number of European countries have higher per-capita debt than the US. Ireland's is almost 10 times as much - that's about a gazillion percent using Trump-math.
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
Yeah but doesn't the world use the US dollar as THE reliable and infallible stable currency, whereas whatever currency Ireland uses, pints o'guinness or something, Asia markets couldn't care less about?
@89th said in Protecting myself from a dollar crash:
Yeah but doesn't the world use the US dollar as THE reliable and infallible stable currency, whereas whatever currency Ireland uses, pints o'guinness or something, Asia markets couldn't care less about?
Well it's the Euro, so it's not exactly a minor currency.
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There is a effort to make crypto replace it. Less middlemen involved in money transfers. Stable coin they call it?
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Dollar was 97 cents to 1 euro last January, and it dropped down to 85 cents in the following months and now holds at 87 cents
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1 $TRUMP is worth 5.91 Euros…
