Everbank, and presumably ING Direct, are FDIC insured, yet let you buy foreign currencies. So you can buy euros and Swiss francs, FDIC insured.
I am also scared of holding all my money in $$s, so I’ve been asking people here which currency they think is stronger. I’ve heard pro-euro and con-euro arguments, and enough opinions to have immobilized me with indecision.
Probably the best strategy is to diversify among various currencies of governments with solid trading programs and strong budgets, and precious metals.
theplayers told me yesterday that he has most of his cash in Treasury bills, since that is more safe than banks. He has some in CDs, and I am going to move my cash to Treasury bills in September, when my 4 months are up.
But please don’t copy what I do. I have no crystal ball either. I could be totally wrong and lose all my money and miss out on big run-ups in stocks. Or my euros that I plan to buy could lose against the dollar, if we have a dollar rally.
Gold: Check out GLD, the gold ETF. Read about it at Euro Pacific Capital, kitco.com, and Zeal. I subscribe to Zeal Intelligence, and that’s where I got the COP idea. They have done well on their recommendadtinos, bec. they were early on the commodities investing.
I subscribe to Yamamoto Forecast, which is $350/year. Very pricey. Every month, I get a typed newsletter. typed. The guy is not even on a website, but he is one of the best market traders, and that’s why I subscribe. Anyway, he has been telling his subscribers to be 100% cash, 0% bonds, 0% gold. The reasons are given in his newsletter. He recommends CDs for the cash part, and I don’t know why. It seems Treasury bills are safer. I don’t know why he doesn’t recommend euros or yen or swiss francs. If the dollar loses value, aren’t we better off holding euros?
If you want to know how clueless our senators are about the problems of our economy, watch Bernanke’s testimoney, and their Q&A, on C-SPAN video. From this, I can tell that nothing will ever change about our deficit and manufacturing outsourcing. What we are discussing is very real, and not something we are just making up. It is real.
