Wondering what everyone thinks of this video by Stansberry Investment Advisory about the state of the US dollar.
April 5, 2011 11:34 PM Subscribe
Just saw this video by Stansberry Investment Advisory. It's a long video, but here is it (can watch on youtube I think as well?). I would never ever send them money for investment advice, (see below links for foul play evidence), BUT I am wondering what everyone thinks about the value of the dollar and its likely fall from being the standard international currency. For instance, has anyone experienced the difficulty in exchanging/using US dollars while traveling abroad? How can we investigate Stansberry's claims and potentially protect our assets?
Links to Stansberry Investment fraud:
http://briandeer.com/vaxgen/stansberry-fraud.htm
http://www.sec.gov/litigation/complaints/comp18090.htm
Links to Stansberry Investment fraud:
http://briandeer.com/vaxgen/stansberry-fraud.htm
http://www.sec.gov/litigation/complaints/comp18090.htm
This post was deleted for the following reason: This question can probably be asked without all the scammy links -- vacapinta
Goldbuggery (of which this is a species) is never likely to go away, at least not in the near future. The sociocultural legacy of shiny yellow metal runs pretty deep.
posted by holgate at 12:07 AM on April 6, 2011
posted by holgate at 12:07 AM on April 6, 2011
BUT I am wondering what everyone thinks about the value of the dollar and its likely fall from being the standard international currency. For instance, has anyone experienced the difficulty in exchanging/using US dollars while traveling abroad?
These two things are fairly unrelated, I can exchange Omani Riyals and New Zealand dollars around the world and neither of those are standard international currencies. What exactly do you mean by "standard international currency"?
posted by atrazine at 12:40 AM on April 6, 2011
These two things are fairly unrelated, I can exchange Omani Riyals and New Zealand dollars around the world and neither of those are standard international currencies. What exactly do you mean by "standard international currency"?
posted by atrazine at 12:40 AM on April 6, 2011
Why did you even mention these scammers by name? You could have just said "I am interested in the topic of US dollar devaluation and what I can do to protect myself from it." Please don't give these guys any more links. They advertise enough on Rush Limbaugh as it is.
I couldn't sit through the whole video (it felt like Zeitgeist for the Beck watching crowd) but I assume they tell you to invest in precious metals or pay them for advice.
To answer your question, one way of diversifying your assets is to buy mutual funds that focus on international firms, or invest in US firms that have a geographically distributed revenue stream. If there are large scale catastrophes currency trading will be the least of your concerns. Worry about putting together a good emergency "go bag" in case of fire or natural disaster before thinking about valuables.
posted by benzenedream at 1:04 AM on April 6, 2011
I couldn't sit through the whole video (it felt like Zeitgeist for the Beck watching crowd) but I assume they tell you to invest in precious metals or pay them for advice.
To answer your question, one way of diversifying your assets is to buy mutual funds that focus on international firms, or invest in US firms that have a geographically distributed revenue stream. If there are large scale catastrophes currency trading will be the least of your concerns. Worry about putting together a good emergency "go bag" in case of fire or natural disaster before thinking about valuables.
posted by benzenedream at 1:04 AM on April 6, 2011
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In wealthy asian countries like South Korea and Japan any bank will happily buy your dollars in exchange for local currency. In poorer asian countries like Vietnam, Laos, Cambodia, and Thailand stores and vendors would, in most cases, prefer to have US dollars rather than the local currency. (When I traveled in Laos and Cambodia I never had to change US dollars to make purchases, and I booked hotels using a US bank card "in dollars," so to speak. Even the national parks would rather have dollars over the local currencies.)
"its likely fall from being the standard international currency"
Sez who? People have been suggesting this for over a decade now and I have yet to find any financial institution, massive or tiny, that would rather have Renminbi than dollars. The Euro was suggested as a replacement for a while, then Greece and Ireland happened.
To be polite, you're really over-simplifying this stuff.
posted by bardic at 12:00 AM on April 6, 2011