I am also waiting for gold to drop, to take a 5-10% position. It is NOT speculative. Think about it this way: when critical mass starts thinking as we do that the dollar is a risky holding (include foreign central banks in this group), what will they buy? Like us, they have only a few choices: gold, euros, swiss francs, Canadian dollars. Those will be further increasing in value as more people buy them.
The dollar is risky to me, and I am concerned holding it. It is the currency of my country, but its value is falling relative to other currencies. That means imported goods will keep rising in price (inflation). Wouldn’t it be great to convert your euros back to dollar in 5 years, when the dollar has lost another 20% of its value?
I am investigating how to buy euros, from my cousin who works for a large German bank. I will post my findings about the German laws, whether they have FDIC insurance, and if anyone can open an account in Germany.
Please post your info about the Swiss annuities, and a website if you have one. I am sure many people are interested, and that would keep you from getting hundreds of e-mails.
Diversification is my best bet. Again, my discomfort with the dollar is a feeling I will act on. I would hate to be one of those people in line at my bank when they run out of money after the next banking crisis.
