If I only knew the answers.... I'm stacking paper for the moment, waiting for a few more indicators that the system is about to give before i start pumping my fiat into gold. I don't wanna make the mistake of jumping in too early like i did earlier this year with silver.
As per the sig; Cash for today, Gold for a lifetime. As little electronically as possible. Cash is not going to lose value here, instantaneously. But.. anyone who thinks the Euro is at risk as a currency is reading the wrong reports.
Keeping my USD ready for the bargin sale prices to come. Just hope that dealers will still be selling when the bottom drops. Gotta keep an eye on inventories / premiums.
Well surprise surprise of course its 89.9% property, 5% gold Bullion and 5% Aussie dollars and .1% silver bullion. Be interested to see how the banks handle the loans I owe them paying them back in devalued Aussie currency:lol: Kind Regards non recourse
me, Tiny bit of gold 15% (in the rare case of mad max hyper inflation in a few days time) 60% cash 25% on stocks/ETF's (going short on various things) in the hope to buy more gold after
Shouldn't we be in USD when Euro collapse? Check out USD - AUD 1 year chart, you get a clear reverse head and shoulders pattern. I think USD is set to rally big time in the near future, in short-term at least...
I would say USD, which should "strengthen" and gold to fall, then buy gold with the USD but I don't know what entry point (au spot price) I would be looking at.
I'm with the comment from someone that anyone wanting out of euro's is already out. It's actually stronger than a couple of years ago.
NR do you hold a lot of debt atm? Sorry, I know it's a personal question - let me put it another way. If the bank had no choice but to squeeze your nuts with a large vice and demand payout, can you cover? My biggest concern wouldn't be management of the repayments of debt (especially concerning property assets in this country) but rather the banks going into panic mode and start making margin calls, especially on the back of a sharp capital value drop. I'm pretty certain that the gubmint will protect the current market come what may, but I'd certainly be keen to consider the entire situation from all sides. I have to admit though, I'm very focused on income producing assets looking ahead. My faith in the backend of our warped financial system lies in the tangible, but if it can produce income as well, I'm all ears. I'm sick to death of the 9-5 grind (more like 6 to 7 grind!) and answering to dickless wonders who are stupid as hell. One thing I'm learning about taking the next step here is to listen to experience...
25% Gold 75% cash which is what I have about now (excluding silver). I think weve seen that gold drops faster than the AUD so there will be a good buying opportunity coming up
AUD and Gold. AUD for local use (because we won't be using USD/EUR to buy milk anytime soon), and Gold for wealth preservation.
AUD is getting some benefit from being the best looking horse in the glue factory sure. But the AUD is by no means a safe haven and never will be. Our economy is simply too small to be able to handle the kind of capital flows required. It cannot absorb it. Bottom line and nothing will change. With Chinese currency being pegged, globally you have the EUR, the USD and the JPY. All are rubbish, but they are the larger economies and capital will flow. The AUD is a risk trade, with a play on the emerging markets story, a proxy for commodities and global growth and is also a carry trade. If the euro falls, Id bet my chocolate hat that AUD will not increase in 'safe haven' status. You mentioned yourself that its down 2 cents on the botched euro summit. I only hold AUD because that is what I transact in.
I call it the safe haven because its the best of a bad bunch we are the most stable economy at the moment. If you can tell me a better one il throw some dough that way but until then im sticking with our dollar
Oh me too. As an australian i feel it my patriotic duty /sarc but seriously, of course i keep the aud, its what i transact in. for an aussie to be buying any other foreign currency I would think is lunacy, unless of course you had a holiday booked to that particular place and wanted some certainty.
In answer to the question, without liquidating anything, I would hold enough cash for expenses for a 3 months, with the balance being in GOLD etf. Priced in AUD i feel this will increase due to flight to USD if eur was to crash. Once this happens, close the position with profit and buy some more pm or good dividend stocks. I have enough physical. (stuff Im buying next week not included.)
Source: I'd be in the Singapore Dollar...Look what it did when everything hit the fan back in 2009... Hope my logic's right???? Buy $AUS100 000.00 of SD get 130 000.00 When/if it retraces 2009...reconvert SD130 000.00 to AUS$130 000.00
