What Would You Do If The US Dollar Tanked 6 Months From Now?

There are a few people who are warning that the bond market will implode and the US dollar will crumble in value as the government prints more and more money than it is already doing.

As much as I don't want that to happen, I'm not going to ignore this possibility because some of these same people predicted this mess that we're in right now.

So how can you best mitigate yourself against US dollar currency collapse?

Most of us earn in US dollars. For those living outside the US, a currency collapse would be devastating. Even for those in the US (spending and earning in dollars), it could still have harmful consequences.

So can we please share strategies for mitigating this risk?

Here are my thoughts:

• earn via euro paying affiliate programs (anyone know any?)
• try niches with more european customers (any ideas?)

 

Invest in gold, silver, and other precious metals.

If the US Dollar were to collapse, I believe it would have a major impact on other currencies as well. If that is the case, no currency would be completely safe. Which is why holding onto some gold and honing your skills/services for future trade is important.

 

I think in this time of uncertainty that diversification of revenue and investments becomes even more important than it normally is.

Anyone who tells you they know where the economy will be in six months is a liar, especially now, in these times. So don't have all your eggs in any one basket.

Tom

 

It's a legitimate question and consideration. I'm not really making money via my website yet. I will say to that it seems the Euro hasn't exactly been doing too good either, so I'm not sure if that is going to be a more positive alternative, particularly for affiliate marketing.

 

I agree entirely - holding some gold as part of your portfolio is very advantageous, because if you look through historical figures, gold will always 'hold' its value.

 

The collapse is inevitable. It's just a matter of time. US monetary system hasn't been backed by anything since the creation of Federal Reserve.
Big problem is that US plays a huge role in the world economy. So when its economic system collapses it will send a massive shockwave throughout the world. No amount of Euros are not going to save anyone.

What needs to happen is a complete economic restructure of this whole system. As long as Federal Reserve can freely print as much money as they want without it being backed by anything (like it used to be backed by gold) the dollar is going to keep plummeting in value.

There is really no one-answer solution to this disaster. Everything is too far gone at this point.

And on the subject of gold, yeah, it may hold it's value arbitrarily on paper, however when the sh*t hits the fan you'd have a real hard time figuring out on how to exchange your gold bars for food at a local market...

 

I don't advise you buy gold durring a recession due to its high price and demand... I honestly can't tell you how many people I told about 8 years ago to buy as much gold as they can, when it was less than $250/oz. Today it's nearly $1,000/oz.

Alot of people are inticipating another depression, but I seriously doubt we'll get that far... Truth is, depression or no depression, the Economy has always eventually recovered. It's just a matter of time before things stop getting worse and start getting better.

When the Economy is in much better shape and the demand for Gold is much less, the price will go down and that would be the best time to look into buying it.

Here's a link to The American Precious Metals Exchange: http://apmex.com/

There's a whole lot of info for you to do your own research and devise a plan for buying Gold in the future.

 

Actually I don't think you would have that big of a problem, a small bartering system has already started in the United States. All you have to do is find the people willing to trade goods or services for food or other things.

I don't make much right now anyway so either way I would be hard pressed if the dollar fails, but I think most of us here would figure something out.

 

C'on, ~25% of the total GDP in the world are in the US. The US are using ~25% of the world oil. The US are responsible for about ~45% of the world military spending. (Live links and signatures are not available to you yet)

The US currency is the most stable currency in the world. If they are unstable, the rest of the world will be affected.

 

Gold is worth a lot right now. That's why there is so many Cash4Gold commercials on, they're completely ripping people off.

 

The US way to solve a crisis is currency devalution, it's a perfectly clear fact now. One question remains - what will other countries do? Sit back and watch how the recession is spreading? No, it is highly probable that they'll go the same way as US. That means global inflation problems, affecting most major currencies, not only us dollar.

Gold, as well as other precious metals were always good choice in case of inflation. Actually, everything will be good to hold the buying power, except cash and obligations.

 

A lot of people credit World War II for getting the US out of the Great Depression. That war wiped 50-70 million people off the face of this Earth, leaving many job opportunities for those that survived (stats here). It's not very likely such a war will occur to get us out of this financial mess.

I for one question the logic of spending money to boost revenue. It's the wrong path to take in my opinion and is nothing more then a temporary sugar high for the economy.

Bush did 2 stimulus packages which did not work. Then Bush bailed out the banks, and it still is not working. I will go with the odds and say Obama's plan won't work, even though he seems to have good intentions.

The foundation of a good economy is keeping people working. Unlike the great depression, today we have global competition in manufacturing and service areas. Good, bad, or otherwise, this has left a major imbalance in the USA. The USA economy will recover, but at a lower standard of living Americans have never seen before. The same goes for many other countries.

 

I still like the property market
i guess investment in it is safe

 

Investing in property in Australia right now is a good choice. For first home owner, you get $21K from the government.

 

Now is a great time to invest in certain depressed areas (like real estate) IF you have the capital reserves to both make the investment and pay the recurring. It is really a buyer's market. It all depends on just how long and how deep you think the recession will be.

 

Yes, making new income every day will help no matter what else happens.

 

Agreed...

 

Move to Toronto

 

Buy yourself some guns and ammo, a house in the woods or in the country and stock up on some food that lasts for years.

 

Prepare to pack your bags if you live in the states and move to Amsterdam (my first choice)... also prepare to get your ass handed to you on the conversation rate and possibly not having a job for a while.

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