Will Money Be Safe Overseas

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gcruwitme's picture
gcruwitme
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Posts: 13
Will Money Be Safe Overseas

What to do with assets that are not in gold?

I am liquidating real estate and have other assets in pension and 401K accounts that I am worried about for when the dollar and the banking system collapse.

One idea is to move that money offshore to say Canada, Australia, or New Zealand so that it's not in a US institution and not $USD (or Euro for that matter)  demominated, but here are are my concerns:

Where, if anywhere, will be a safe banking haven if the US, Euro Zone, or both systems collapse? 

What currencies will be safe in the same scenario?

OR.....

Am I better off spending most of what is not in gold on arable land, homestead, and preperation for when SHTF? 

r101958's picture
r101958
Status: Martenson Brigade Member (Offline)
Joined: Aug 24 2008
Posts: 257
money....

Swiss francs and canadian dollars......and productive (arable) land.

agitating prop's picture
agitating prop
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Joined: May 28 2009
Posts: 863
r101958 wrote: Swiss francs
r101958 wrote:

Swiss francs and canadian dollars......and productive (arable) land.

There is an arable land bubble right now,  that could pop. It's a great idea but the super wealthy beat us to it!

Poet's picture
Poet
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Joined: Jan 21 2009
Posts: 1891
Arable Land Bubble In Iowa Right Now
agitating prop wrote:

There is an arable land bubble right now,  that could pop. It's a great idea but the super wealthy beat us to it!

I agree.  Nicole Foss "Stoneleigh" of The Automatic Earth shared a chart similar to this one at her "Century of Challenges" lecture that I attended last weekend. She said farmers who buy now are doing it by getting into in more debt, have to farm more to try to take advantage of economies of scale, which often means going into more debt, etc. She doesn't think this will turn out well (a la the housing bubble crash).

Source: http://www.extension.iastate.edu/agdm/wholefarm/html/c2-70.html

Parabolic hockey stick, anyone?

There's no question land and silver and gold are important. But as some saw, silver popped it's parabolic rise at $50 in April 2011, and has been hovering within a few dollars of $35 for some time now (this is now June 2011).

Poet

Wendy S. Delmater's picture
Wendy S. Delmater
Status: Diamond Member (Offline)
Joined: Dec 13 2009
Posts: 1988
suburban homesteading

gcruwitme -

you asked:

What to do with assets that are not in gold?

I am liquidating real estate and have other assets in pension and 401K accounts that I am worried about for when the dollar and the banking system collapse.

One idea is to move that money offshore to say Canada, Australia, or New Zealand so that it's not in a US institution and not $USD (or Euro for that matter)  denominated, but here are are my concerns:

Where, if anywhere, will be a safe banking haven if the US, Euro Zone, or both systems collapse? 

What currencies will be safe in the same scenario?

OR.....

Am I better off spending most of what is not in gold on arable land, homestead, and preparation for when SHTF?

Allow me to try and answer, or at least give you one person's opinion. I chose the suburban homesteading option. Two years ago I left the populous Long Island NY area, where I think the entire thing will collapse badly when TSHTF: their electricity was all oil-fired plants and the taxes were insane, as were the 2-3 HOUR commutes. Understand that I was an engineer and made $100K a years, but I left.  I married a prepper in SC with a paid off house who lives on one acre in a place with one-eleventh the population--on the edge of a rural area but 7 miles from the SC state capital, which only has a population of 100K.  We have hydro and nuclear power, lots of farmland and low, low taxes: the homeowner taxes here are literally eight percent of what you'd pay up on Long Island. And there is a lot of railroad transport here, plus lots of horses.

We put our money and energy into preps. Most of what we've done in preparing was done with funds from my small 401K, which I've been cashing out while taking a 37% hit on state & federal taxes and penalties for early withdrawal. (Hubby kept his in the retirement account, so we are covered should that not be confiscated.) We've tried to turn this one-acre lot into a productive square foot garden in the back and a dual-purpose herb and landscaped front yard. We slowly built a deep larder and a pantry, and have worked on getting to know our neighbors. We put in a well and certain security features, like a fence and steel doors and gun safety classes and such (very gun-friendly state, unlike NY). We've done all sorts of sustainable things with this one-acre lot and small home: airtight wood stove, outdoor cooking area, solar attic fan, new window screens, clothesline, radiant barrier insulation to deflect the fierce Southern heat from our roof, and more.

We have no gold. We set aside a small amount of silver to pay our taxes on our home (SC will accept that). In my opinion, and that is all it is--an opinion--isolated farms have a problem with . . . isolation. In the boondocks it takes energy to get into town, and to get to jobs other than farming. Large cities have a problem with unsustainable crowding, crumbling infrastructure, and have a huge potential for civil unrest. I like it here. Northerners may sneer at people from this part of the country as hicks but the folks I've met are smart, hard-working, decent and incredibly nice. I mean, they put all the CARTS away in the cart corral at all the stores. There is no litter, except on the interstates. I have a feeling they will rise to the occasion when the SHTF, and deal with any bad apples rather severely. YMMV, but if you want to check out the Columbia SC area, send me a private message and we will give you a tour.

Safewrite

PastTense's picture
PastTense
Status: Bronze Member (Offline)
Joined: Dec 13 2010
Posts: 47
Countries like Canada and

Countries like Canada and Switzerland are very highly interdependent with the rest of the world. If the rest of the world crashes, they will be pulled down too.

I wish I knew the answer to the OP's question. Right now I feel physical gold and silver will have a better chance of preserving wealth than anything else. So a majority of gold & silver, a minority of cash and some preps are what I am doing.

docmims's picture
docmims
Status: Platinum Member (Offline)
Joined: Jun 17 2009
Posts: 644
The rest of the world is on

The rest of the world is on the edge also.  There is not a single country not dependant on fiat currency, and if the shtf the banks in those countries will screw the foreigners first.  That said putting a small portion of savings in foreign deposits could diversify the risk, but i wouldn't put it all in Swiss accounts.  It's really a moot point unless you have millions in cash. imho.

I don't see any country as safe, because if the US fails they still have the guns, tanks, and planes and years worth of military stockpiles of food and oil. god help us if we get a regime that wants to use it.

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