What with all the hyperinflation and tax, i was wondering what the best way to “store” your wealth/ money from hyperinfaltion and the government theft??
Just interested to here peoples views and opinions and ideas of doing this.
Gold is numero uno. Other metals and hard assets are good, but gold is easily concealed and transported. During our current situation, I think precious metals, especially gold, are even safer than things like land.
My opinion:
Water (1-3 mths/person)
Food (6-18 mths/person)
Weapons
Gold
Silver
Transportation (car, truck, motorcycle, bike)
Always have a zombie plan.
Hyperinflation is not a sure thing. The government could decide to default on its debt for all we know.
Regardless, hard times are here and probably here to stay for a while.
Gold is probably your best bet against inflation, unless the government makes it illegal to own, like it did in the 1930’s.
Food is probably a really good bet too, but again, the government may just appropriate all food if things get bad enough.
I would say land and weapons are probably your best bet. You can grow food on land and hunt game with weapons. Land is usually an excellent hedge against inflation as well, however, prices are probably going to keep falling for another year or two, given that the ARMS mortgages are going to keep resetting until 2011, meaning lots more foreclosures for the next couple of years.
I have written extensively on exactly this question in many of my blog entries
An entry on my recommended investment (ETFS All Commodities)
An article on the “government theft” (more than just directly via inflation)
Some philosophical things about “savings”
And too many articles to list relating to the inflation vs deflation vs hyperinflation debate.