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A Safe Investment?

September 12, 2011 by  

Dear Bob,

I live about 60 minutes from the Canadian border and have opened an account in Canada in Canadian dollars. While they may not be as good as Swiss francs, will the Canadian dollar be an acceptable way to shelter wealth from a collapsing U.S. dollar?

Thanks.

Rod

Dear Rod,

You are right that Canadian dollars are not as sound as Swiss francs. Canadian dollars may provide you with a cushion, as Canada has done a pretty good job of weathering the recession. However, the Canadian economy is tightly linked to the American economy, so the Canadian dollar should in no way be considered a safe haven.

Best wishes,

Bob

 

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Christin

    Rod,

    For your future… You should have sheltered your wealth in gold and silver… as they are the standard for all currencies… then you are not relying on any one country’s currency to ‘hold up’ under these times of economic collapse by TPTB.

    As for eternity… ” But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”

    Matthew 6:20-21

    • Deb Rasmussen

      I am getting a little more than tired of people suggesting sheltering money in gold. You do realize that the Federal gov. can seize gold if it determines there is a “crisis” don’t you? (Their determination, not yours!) They also track ALL purchases of gold for that express reason! Although that ability was already on the books, and has been implemented in the past, there is a section of the new “healthcare bill” that restates that the gov has that right. If you want to “shelter” your money, use it to be prepared for any emergency that may come up.

      • Christin

        Deb,

        You can put your ‘wealth’ in many things depending on how much you have…
        God, gold, guns, goods, garden….

        Why do you limit yourself to only one?

  • swiss now a pig

    havent you read … that swiss main bank has decided to print unlimited money to keep swiss money cheaper …

    swiss franc will be headed to worthlessness, just like other pig nations like USA, greece, etc

  • Randy G

    Try books —”Staying alive in the Woods” & “Roughing It Easy”

  • Free Mind

    Guns, water, canned food: what will count.

  • terry

    Bob!

    You really fell into that one! Something that never happened before just happened. The Swiss STIFFED you and everybody else that owns their money.

    I’m waiting for the big discount on my next Rolex, and cheeze? Well, don’t ask me.

  • Suzanne

    I got news for you… the Swiss decided last week to peg their currency to the euro… they are actively debasing their franc now. The Canadian dollar is not that safe… their real estate market is oversold and about to undergo a correction just like everyone else.
    There is no longer any “safe haven” among currencies right now, but it is only a matter of time before China ceases debasing theirs with their peg to the US dollar. I read that a lot of people are opening foreign bank accounts in Chinese banks for this reason.
    the only true “safe haven” for your money is precious metals.

    • KHM

      Suzanne earlier today talked about people putting their money in Chinese banks (she was Not recommending this. That would be about the last place I would trust any of my wealth. American companies and individuals who invested in China before the Revolution there lost everything. Companies (foreign and Chinese owned) there were nationalized, all foreigners’ assets seized, etc.
      I was sorry to hear that the Swiss are joining the Euro, just as it is about to collapse.
      Though it is possible that this government, under Obama, could try to do what FDR did in seizing gold, I think that Americans today would be less likely to cooperate.

  • S.W.Nothling

    Dear BoB,

    How would the South African Rand stand up to the financial turmoil?

  • Todd in Sacramento

    I would suggest silver. Go to coinflation.com and start reading their articles. I say silver (junk) 1964 and prior US dimes, quarters, and halves. These will become very valuable as the dollar tumbles and they will be an easy way to exchange for other assets. And for Christ’s sake buy a gun!

    • rottweilerv

      Where and how do you suggest that we get the pre-1964 coins?? Thanks

      • Ric

        You can start at Apmex.com, Monex.com and follow the trail…….Semper Fi

      • PMS

        To Rottweilerv, Independent Living Bullion is where I get all my silver. They don’t charge a huge amount over cost for there junk silver. They are very good to work with as well. The web sight is http://www.independentlivingbullion.com.

  • Steve Bouton

    I strongly recommend silver; forget about any paper money. Silver is better than gold in that you don’t have so much value tied up in a single coin (as opposed to gold). And much more so than gold, silver is a useful industrial metal.

  • Just ask a Romanian

    I believe the only absolutely guaranteed investment right now it’s your mortgage. Try to pay off your mortgage as soon as possible.

    I don’t know about you but there is nothing I can invest right now that will bring me $500- $1,500 per month (which I think it’s the average interest a household pays every month for their mortgage)
    I know that means less money in your pocket right now and not money in your savings or checking account, but think about it.

    Let’s say you are married, around 28 years old, both working, medium paid jobs. If you put every single penny you have every month towards your mortgage you could pay off your house in 12-15 years instead of 30 years. That means that when you are 40 years old your house is paid off. At 40 you still have 25 years of work years left so instead of paying $200,000 in interest to Bank of America (by the way – DO NOT DO BUSINESS WITH BANK OF AMERICA-another story) you are going to have between $1,500 – $2,000 every month to put away for retirement starting when you are 40. I don’t know about you, but $2,000 per month it’s quite some money when you have a medium paid job.
    I’m just saying.

  • Robert

    I think all of you are incorrect. As long as the IMF and World Bank have a say so about world ecoonomics all our gold and silver and real estate are in danger of becoming “worthless”. What is to keep them from collapsing precious metal values to the point that they are worthless? Who do you think elevated gold and silver prices anyway? “Some will trust in horses, some will trust in chariots, but I will trust in the name of the Lord (Yahweh).

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