Thursday, October 16, 2008

Buying Foreign Currency

As I write this the US Dollar is fluctuating up and down within a few tenths of a point either way. A little up, a little down despite the wild gyrations of Wall Street.

Many experts continue to push for Americans to buy Gold and/or Silver and that is sound advice. Advice I have taken heed to and invest in when the time seems right and my supplier actually has metal to sell. Believe it or not, precious metals at any price have been hard to find the last few weeks and no one really knows why. You'd think that when it was at a thousand per ounce for gold and twenty an ounce for silver it would be easy to find. But it wasn't. Now that the prices are way off of their highs again you'd think that people would be selling into the dip not knowing where the bottom was and not wanting to take a chance anymore. Besides the dollar looks strong so why not get back into the stock market since it is so cheap?

Nothing could be more disastrous than buying back into the stock market right now in my opinion. Anyone getting back into stocks is playing into the Ponzi scheme and just does not understand the mechanisms by which the hucksters are going to fleece you all for one final time before the absolute end of the US dollar hits this country like nothing you could imagine. Two to three TRILLION dollars has already been sucked out of your retirement account, your investment account and even your bank account without the average Joe even realizing. They, and by they I mean those that work in these brokerage houses, have sold you speculation while in the meantime, they themselves don't invest in these things. They skim their money off of the top of whatever profit they claim you have made and by the fee's they charge on each and every transaction on each and every account. Why invest when they can sell to the suckers and skim off the top?

At this point in the cascading failure of the American financial system. I recently found a website where people can purchase actual foreign currency. It is an American Express website that anyone can use to buy foreign currency, travelers checks, among other things. When precious metals aren't available, having some type of foreign currency on hand may not be a bad thing. It might also be a good idea to 'invest' in a long range food plan as well. Visit 'Be' for some ideas on preparedness and supplies.

1 comment:

Rights of Man said...

Are you sure you're not me? I thought I was the oly person ho realized the strengthening of the USD was in direct correlation to the FED buying USD off foreign currency exchanges with treasury notes since mid July. The resulting drop in commodities pricing can only go on for so long. The real value (I've been buying gold/silver bullion, too) of gold is nearing $1200 globally. Folks are paying a premium of 2-350/USD per... I will begin following your blog and link to it from