Current Best Way To Store Wealth (liquid)

[Magi]

In the days of collapsing debt bubbles, quantitative easing (code word for thievery), and soaring precious metal prices...

...where oh where do you store your wealth short term? I'm talking liquid here. Something you can use for business expenses next month if you had to.

Where do you store it while you wait for just the right buying opportunity of less liquid assets?

Store it in Euro or Dollars and watch it evaporate more each day.

Store it in an interest bearing account and get nothing close to real-world inflation levels. Again, it goes up in smoke more and more each day (and is vulnerable to seizure at the whims of the bank and the government).

Precious metals are an option. But right now they are ski high, erratic as hell. Clearly they are in the distribution phase. In the long haul I'd take that bet. But the short-term is risky as hell if you ask me.

So what is left here?

I'm looking seriously at Bitcoin. But it's still in it's infancy. Anything could happen.

What else is left? How do the super wealthy do it? How do they store wealth while waiting for the right undervalued asset buy opportunities.

I'm certain, it sure as hell isn't stored in fiat currencies. They know the game, and are too smart for that.

 

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[The-J]

The super-wealthy tend to give it away.

As for me, I'm looking at investing in natural resources and natural resource-rich countries, like Mongolia. If asteroid mining becomes a thing while I'm alive, I'll invest in those ventures.

 

[Kung Fu Steve]

It seems like gold is the way to go.

Unfortunately not all of us have a bagillion dollars to keep up with
the price of gold.

Silver, then, seems to be the best option. I think my plan is taking a
percentage of monthly investment income and buying silver with it.

Booze and guns? Here's probably a stupid question: does booze ever go
down in value? Wines, Cognacs, Bourbon, etc. etc.?

 

[ChickenHawk]

Booze and guns? Here's probably a stupid question: does booze ever go
down in value? Wines, Cognacs, Bourbon, etc. etc.?

That's an interesting chain of thought. In a way, it's like prison. When things are scarce, it's often the little luxuries that make your life better, whether to be used as currency or to consume personally. Cigarettes, booze, and weapons. Funny how we tend to think of wealth in terms of money, when it might be tradeable goods that have the most long-lasting value in times of crisis.

 

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[Magi]

It seems like gold is the way to go.

Unfortunately not all of us have a bagillion dollars to keep up with
the price of gold.

Silver, then, seems to be the best option. I think my plan is taking a
percentage of monthly investment income and buying silver with it.

Booze and guns? Here's probably a stupid question: does booze ever go
down in value? Wines, Cognacs, Bourbon, etc. etc.?

Silver is more erratic then gold... has always been that way. If you're going to play that game you really need to keep a very keen eye on day to day silver prices... and know how to read charts.

Platinum is a much better buy then gold and silver right now in my opinion.

But, that still doesn't solve the problem. Are they overbought now? With the impending Euro collapse (and a good chance the dollar sees massive inflation if not all out collapse too) the sky is the limit for precious metals.

... but buying right now on a short-term bet is a very risky game... and eventually they will be overbought. So what to do then? I would not wanting to risk my payroll on the short-term price of silver.

 

[Magi]

The super-wealthy tend to give it away.

As for me, I'm looking at investing in natural resources and natural resource-rich countries, like Mongolia. If asteroid mining becomes a thing while I'm alive, I'll invest in those ventures.

I've had my eye on Mongolia. Eventually the China bubble's gotta pop. But for the next few years likely Mongolia is a good bet.

Can you give the inside scoop on the easiest way to open up interest bearing and spending accounts in Mongolia (hopefully able to be done over the net).

thanks

 

[Leoto]

I've personally been pretty happy parking most of money in high-yield dividend stocks with stable predictable (i.e. boring) business models. I sport about an average 6% yield on my portfolio, and I've been fortunate to have pretty nice capital gains over the past year. But I'm primarily in it for the fixed income portion, and the capital gains were an unexpected bonus which is probably not going last given how the Fed just used up all its ammunition.

I don't like precious metals because they don't generate any income, and if it's not generating income, then it's speculation in my definition.

 

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[AlasdairM]

quantitative easing (code word for thievery)

Hmmm...the outcome is certainly tantamount to theft, but I think QE is being done because the Fed and govt have no other choice.

 

[Magi]

Hmmm...the outcome is certainly tantamount to theft, but I think QE is being done because the Fed and govt have no other choice.

They do have a choice. Stop meddling in the free market. Stop robbing the producers of the world. Of course they couldn't do that and do what they do best, extract wealth from the world through currency devaluation.

There is absolutely no value added by the Federal Reserve system. They are a parasite sucking blood from us all. You cannot have a healthy economy with parasites sucking the true producers in the economy dry.

The more they kick the can down the road with QE's the harder the fall is going to be.

They created this mess. Do you really think more of the same will solve it.

The only solution is to let the market do it's job clearing out the debt and the deadwood. And yes, letting the dollar fail. Make alternative currencies legal. Eliminate transaction fees on gold and silver, making them viable means of exchange. Create a true SOVEREIGN currency, free of the Federal Reserve.

...Then letting the market fix itself.

 

[billbrownfarm]

Back to the original question. How to store wealth. For those of you who need a temporary spot (less than 2 months) for 7 digits or so I have had better luck with Fidelity FCASH rather than the bank

 

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[AlasdairM]

They do have a choice. Stop meddling in the free market. Stop robbing the producers of the world. Of course they couldn't do that and do what they do best, extract wealth from the world through currency devaluation.

There is absolutely no value added by the Federal Reserve system. They are a parasite sucking blood from us all. You cannot have a healthy economy with parasites sucking the true producers in the economy dry.

The more they kick the can down the road with QE's the harder the fall is going to be.

They created this mess. Do you really think more of the same will solve it.

The only solution is to let the market do it's job clearing out the debt and the deadwood. And yes, letting the dollar fail. Make alternative currencies legal. Eliminate transaction fees on gold and silver, making them viable means of exchange. Create a true SOVEREIGN currency, free of the Federal Reserve.

...Then letting the market fix itself.

Sorry, I should have said, "the Fed and govt think they have no other choice."

I agree 100% with what you say. Iceland is proof that that would be the quickest way to end the pain and return to health.