Folks, sign up for this InterNACHI VISA card. Lawyers won't let me explain why yet.

[gromicko (Nick Gromicko, CMI)]

so…how does money devalue quicker in an account vs stashing it under your bed??

Jeff

The money in a bank account in the U.S. devalues much quicker (due to all Bernanke’s printing) than stashing your wealth under your bed in something other than U.S. currency. Almost anything is better than U.S. currency in a bank. As Mike pointed out, even ammo would hold its value better.

[gskeeters (George Skeeters, HI-3186)]

Ammo, real estate, tractors, metals… Only problem with bang bangs and ammo like gold, you have to speculate that the pressure there is going to increase over an extended period of time to buy in now after hyper inflation of these items… I believe the pressure from the control scare will subside and these are due to stabilize or drop over the next year… But I sold 12 used tractors last year for a nice profit as farmers and small operators are expanding and new equipment is outa reach for the part timer.
Gotta look for areas outside the news makers that are effected by or can effect the movements of the headliners… Ie… When weapons came under pressure it was the ammo that have the best return… When the beef scare and drought in the south hit, cattle soared…listen to the old timers, while they do get a little over zealous sometimes there is insight and wisdom in their years of observations. By the way, housing market recovering??? If so now is the time to market like crazy, add value propositions and raise prices… It will be to late if you wait for the tide to rise, only the surfers who went out before the storm will catch the big ones…

[gromicko (Nick Gromicko, CMI)]

Good point. Old tractors are a great hedge against inflation. Although for winter, I’m restoring 3 Chambers stoves.

[jwicklander (Jeffrey Wicklander)]

@mclark2

The money in the account “disappears”, as well as gets devalued. A little to the bank, a little to the government, a little here and there–POOF–it’s gone.

The money under your mattress, while being devalued, does not disappear. No government steals it, no bank squanders it…

I don’t believe any money has disappeared from our accounts…either magically or via fees. Maybe you should try switching banks 'cause it sounds like you’re getting ripped off.

Jeff

[jwicklander (Jeffrey Wicklander)]

@gromicko

The money in a bank account in the U.S. devalues much quicker (due to all Bernanke’s printing) than stashing your wealth under your bed in something other than U.S. currency. Almost anything is better than U.S. currency in a bank. As Mike pointed out, even ammo would hold its value better.

Money in the bank holds its value as much as the money in your pocket, whether there’s more printing or not. As for holding non-US currency, try buying a gallon of milk with it.

Jeff

[gromicko (Nick Gromicko, CMI)]

Exactly, that’s all you should do with fiat currency… use it to buy a gallon of milk, etc. U.S. currency should NOT be used as a store of wealth, ever.

[sthomson (Sheehan Thomson)]

Thinking about doing this just for the mysterious factor that your lawyers won’t let you tell us why…