[angrybill]

I simply keep mine in a savings account with a Federal Credit Union. It's the safest place I know to keep it money.

[Specop_007]

Few funds
Few stocks

Or did you men specifically?

[angrybill]

It's the only real save haven. A bank that is FDIC coverage. Were good up to 250K and who can' t live on a median balance of that, or if you have more spread it across 4 banks and that's 1M, anyone in the U.S. can live with an annual mean between 250 and 1M easily or maybe that person who can not is just to high on the hog. All investments are dangerous now and lots of housing prices are still overvalued. For the past 12 years housing prices have continued to rise, minus the past 6 months. The avg housing price is still not at the pre-Clinton era who started this whole mess.

[gollum]

I keep what I have at the credit union, They are a lot better to deal with than banks and I feel the money is safer.

[bratticus]

Some was in RGR until I sold it just before it went down.

[Hermes]

Our money is in infrastructure - real goods.

As soon as we make some money we blow it as quickly as we can, buying useful stuff for the farm.

[MonteQuest]

I simply keep mine in a savings account with a Federal Credit Union. It's the safest place I know to keep it money.

If your money is in US dollars, no place is safe when the dollar crashes.

No place.

[Pops]

In the dirt, the shed, the house...

All tangible, none liable to a funny accounting thing or some numbers game.

Just my bias...

[MonteQuest]

Our money is in infrastructure - real goods.

As soon as we make some money we blow it as quickly as we can, buying useful stuff for the farm.

Mine is in tools for my contractor business and windmills for my farm.

[Revi]

In a woodlot, a house and a 403b. I have more faith in the woodlot and the house to hold their value than the 403b. It lost $7000 last year. I could have buried it in a shoebox and did better than that!

[angrybill]

I simply keep mine in a savings account with a Federal Credit Union. It's the safest place I know to keep it money.

If your money is in US dollars, no place is safe when the dollar crashes. No place.

Well, Monte. You're speculating about the dollar. People and institutions will keep shorting the market(s) like wild dogs feeding on torn flesh without thought. When the negative news stops, so will the shorting, shorts cover, buyers come back in and the cycle of pushing something to another peak extreme will occur. peak up, peak down, or peak all around. There is always an extreme to stay away from.

My money must be kept somewhere and it going into any type of investment. somewhere!!! If the dollar collapses (nah) the ALL currencies will too. (x2)

[MonteQuest]

Well, Monte. You're speculating about the dollar. ... My money must be kept somewhere and it going into any type of investment. somewhere!!! If the dollar collapses (nah) the ALL currencies will too. (x2)

Then the dollar will inflate to worthless paper as helicopter money floats down from the skies.

All fiat currencies will suffer, yes. Hard assets are the only safe haven, IMHO.

[Leanan]

I think we will be facing deflation, not inflation. This is looking like the Great Depression all over again. (Just like they've predicting for a long time at The Automatic Earth.) The government doesn't have enough helicopters. The amount of wealth that is being destroyed is just overwhelming. Bernanke is trying to empty the ocean with a teaspoon.

And it's not just money supply. It's the velocity of money. People have to spend it or lend it or it might as well not exist, and everyone's too afraid to do that.

Eventually, hyperinflation may be a problem, but it could be a long, long time. The Great Depression lasted ten years (and it took a world war to end it). In Japan, the printing presses have been going full bore for 18 years, but the only thing that actually caused inflation there was a rise in the price of oil.

[angrybill]

Well, Monte. You're speculating about the dollar. ... My money must be kept somewhere and it going into any type of investment. somewhere!!! If the dollar collapses (nah) the ALL currencies will too. (x2)

Then the dollar will inflate to worthless paper as helicopter money floats down from the skies.

All fiat currencies will suffer, yes. Hard assets are the only safe haven, IMHO.

"Something" is to become or "remain" the dominant figure of exchange, but consider that currency has existed for a very long time. If 2012 is to indicate a zeitgeist itoward monetary existence then maybe we just won't need it anymore. A type of world balance will occur, somehow and someway, and at some future time. For now, it's currency in the bank for me. I'm just saying.

[Ludi]

A type of world balance will occur, somehow and someway, and at some future time.

All is for the best in this best of all possible worlds, eh, Doctor Pangloss?

[patience]

I'm with Monte. If I want to be sure my pants stay in place, then I see nothing wrong with wearing a belt AND suspenders. Likewise with money. Since I don't know for a fact what will happen, I want to preserve the value of what I have saved. At the moment that means no debts, most assets in our home and 32 acres for the kids, a second chunk in our repair business, and a pile of hard goods that we will use.

We have no paper investments except some cash spread out in 3 banks. Not because we have that much, but because I want more than one chance to beat a failure. (FDIC can take as long as they want to get your money to you.) That is temporary, until taxes are paid this year, when the rest will go mostly into FRN's. THAT is temporary, until we can get it properly spent on goods.

One place for some of the cash is a pair of 250 gallon tanks of gas. one at our place, and one at the kids' place. Then other things: a mile of barbed wire, a truckload of steel fence posts, some to finance a couple windmills, some spare batteries and copper cable for the solar setup, etc.. When all that is in place, I'll keep some in FRN's and probably some US junk silver coins, watching the situation for changes.

[MonteQuest]

I think we will be facing deflation, not inflation. This is looking like the Great Depression all over again.

Yes, but without the vast infusion of money. The deflation may quickly become inflation. Thse are uncharted waters, so I won't make any bets about the near future of the dollar except it is going to be harder to make one. Unless you are the FED, that is.

[angrybill]

I'm with Monte. If I want to be sure my pants stay in place, then I see nothing wrong with wearing a belt AND suspenders. Likewise with money. Since I don't know for a fact what will happen, I want to preserve the value of what I have saved. At the moment that means no debts, most assets in our home and 32 acres for the kids, a second chunk in our repair business, and a pile of hard goods that we will use.

We have no paper investments except some cash spread out in 3 banks. Not because we have that much, but because I want more than one chance to beat a failure. (FDIC can take as long as they want to get your money to you.) That is temporary, until taxes are paid this year, when the rest will go mostly into FRN's. THAT is temporary, until we can get it properly spent on goods.

One place for some of the cash is a pair of 250 gallon tanks of gas. one at our place, and one at the kids' place. Then other things: a mile of barbed wire, a truckload of steel fence posts, some to finance a couple windmills, some spare batteries and copper cable for the solar setup, etc.. When all that is in place, I'll keep some in FRN's and probably some US junk silver coins, watching the situation for changes.

Sounds like the perfect setup. Hard assests go without saying so of course I agree with that too, and likewise looks like you agree with me about keeping money spread among banks. I have three as well and it's for the same reasons, not massive wealth of which I'm not interested, but save havens. I once invested a decade ago but nothing significant except sleepless nights of which I no longer wish or miss. The food I grow is mainly organic and what we don't need is distributed to the neighbors for good will and lasting friendships.

[heroineworshipper]

There is only $804 billion of physical dollars in the world. The rest is all credit. If no-one wants to lend money, $804 billion is all you got until Ben can print more. He only managed to print $40 billion last year. In a true loss of confidence in credit, M3 would go from $15 trillion to $804 billion & your only means of survival would be suitcases of physical dollars or gold, like Ukraine or Argentina.

[patience]

angrybill,

We pretty much think alike, but don't misunderstand me, I don't trust a bank as far as I could throw one. That money is coming out ASAP, and into physical dollars, then we'll see if it inflates, or not. I tend to think this could change direction very fast, as Monte suggests, so being fast on one's feet would be necessary.

For the most part, our "savings" are in hard goods. And the rest could get there pretty fast. I have a list of what to do with cash if I see big inflation starting. As the current deflation continues, my list of things to buy could get cheaper, right before it gets very expensive again.

One consideration for moving to hard goods is that it takes quite a lot of time to spend wisely, especially to decide what to buy. Another point is that some goods get scarce quickly in times of upheaval, and since I don't want to be last in line, I prefer to steadily buy what I know we will USE now, as cheap as I can get those things. Even with a wad of cash on hand, we could face something like Argentina did, where their peso was devalued 3 to 1 while banks were CLOSED. Google "corralito", or "Ferfal blog" for commentary on that.