Given that your property isn’t even safe in Australia, I lost mine in a compulsory acquisition For a fraction of market value and then the banking bailin laws being enacted I was glad to transfer all assets including business, cash and assets out of Australia to a safe country, I was fortunate to sell my last property before the risk factors changed things , you really have to be crazy to keep assets in countries like Australia, another law that may me re-introduced is the gold confiscation, that might be one to watch.
Thanks Scott, interesting, and helpful advice. I assume you'd need to own assets - that are useful and not necessarily ones you would want to redeem for cash (like shares) … until there is a new currency accord or whatever they'll do - whoever they are? There might be a global serfdom ? Or global debt amnesty ? Two extremes - just putting it out there.
If there's going to be a run on the banks like there has been on supermarket toilet paper then we're in for some big trouble. Like you say cash is not king and cash is going to be worth even less in the future. Gold is where you want to be. Some of our gold producers are currently looking cheap so start there and if you're really safety conscious then purchase pysical gold.
Great article. Inflation and hyperinflation are my fears and yes of course printing money devalues purchasing power. That said, I don't want physical gold under my bed and who could you trust to hold it?
I would like to know the safe country Adam is referring to! I never saw the point in gold given that it if it becomes important the government will move to repossess it and set the price like they did in the USA, as Adam refers to. They would stop transfer of it at the border, and who knows how long borders will be closed. Australia is now becoming a dangerous place to hold anything now, no matter where you put it, successive governments will attempt to take it from you.
So what about Bitcoin? Is it perhaps the way forward to the future? I think I will stay with the best growth Blue Chips. There aren't that many in Australia but they are better than cash and good buying in this present situation. Don't expect to pick the bottom though.