I was thinking about the News release of a possible (Though inevitable - in my opinion) of QE3, and the stock market roared! Gold at its highest and silver rocketing upwards. But I seem to puzzled, what is the average guy to do with his money? Saving is pointless, as the dollar is becoming worth less and less. Inflation will increase, so debt will be “good.” My true question is …Is it better to save only a years worth of money, and spend everything else? IE. Land, silver or gold, an oil well, equipment to farm, practical vehicles…you know things of actual worth that can sustain a person.
I am new to Austrian Thought.
Thanks!
Jonathan
I doubt most Austrians would consider trading Federal Reserve Notes in for gold or silver “spending”. Others have inquired along these lines. Check out these:
Begining an adult life - How do I protect my meager wealth??
Seeking investment advice
You might also check out Schiff’s book Crash Proof 2.0, and Charles Goyette’s The Dollar Meltdown. In fact, there’s a whole section in the Mises Store on personal finance.
In other words, “Inflation soared when the FED announced more!”
Props to everyone (Schiff) for calling the FED’s bluff constantly hahahh
I’ve read Crash Proof. What’s different in Crash Proof 2.0?
He kept the original text of Crash Proof but added a “2009 Update” addendum to every single chapter, kind of going into everything that’s happened since the first edition was published and reviewing his assessments made in that particular chapter. It makes for about 80 new pages of content. That’s why it’s called “2.0” as opposed to “2nd edition” or “volume 2”…it’s the exact same text, but simply with an added section to the end of each chapter.