Financial site?
 

I'm trying to find the answer to a simple question, which is: how do I protect cash during a ever declining dollar? Where can a person find good opinions on such an matter on the internet?
In other words, if I sell something worth a bit of money and don't want to put it in the stock market, how do I protect it from declining value in a bank account? I think the dollar will continue to decline throughout the year.
Thanks,

If you think the dollar will go down find foreign currency that you think will go up and buy buy buy. You can go to CNN MONEY.COM there will be links to ameritrade scottrade and others that have investment tools on their websites.

What would be a foreign money that would hold value? I think the British Pound. How about the Australian dollar? What other?

No offense intended here but if you're asking questions such as these on an auto website currency speculating probably isn't a good idea for you. Find a financial adviser.

The yen, paso, euro.

Great site:
https://www.fidelity.com/

Ive been dabbling in the stock market for a little while now. Im no expert but there is ways of taking advatage of a crappy stock market. Its still risky but its called short selling. Your making money when the market falls. I have a few stocks I flip a few times a week.

No offense? I think the initial question says what you just repeated. 'No advise' is a more accurate statement. I don't believe any financial advisor in this town is worth listening to. I'll trust my own research.

I'd go with the Euro, but not the peso. It's tied to us. The Yen I wouldn't feel secure in either--not until I've studied more. I think Asian markets are tied to US spending too. If worst comes to worse, I don't think gold or silver is secure for a private investor either. In the past, the government has forced all precious metal holders to turn in their gold and silver for a price. Then you're left with either less valuble cash or a new reserve currency because your US Dollar is worthless.

Thanks Antman. drailed the stocks are fine right up until they tank. Which is what I foresee happening by early to mid '09--possibly sooner. I did well trading a few yrs back, but I'm not going to fool with stocks. This is disaster preparedness money. I'm preparing for a flood so to speak. ;) This is not money for retirement planning. It would be a lump that I'm not currently in need of, but must be liquid. Cash from Pontiac parts and car sales.

I'm not to sure about gold or silver right now. gold has lost $200 an ounce in the last two weeks. Silver $8. I would think your best bet for currency is the pound or euro. I watch CNBC. You definitely need to do your own research and really think before you invest in anything.

:stupid: It was good advice. A fool and his money shall soon part. Have fun trading currency. Your analysis is top notch.

I've been a member over at www.richdad.com for several years now. The site is based on Robert Kiyosaki's principals and his book "Rich Dad Poor Dad" which I HIGHLY recommend. The forums over there have a LOT of useful info and helpful people.

If that was directed at me. I never told him that's what he should do. Or where to put his money. I don't have any foreign currency in my stocks. I only said he should do his own research and if he thinks the dollar will go down and another currency will go up he should buy. My personal investments have lost some of their value in this downturn but my dividends are buying more stock. when the market turns around it will shoot way up. but for now it's staying about the same.

MY ANALYSIS: You've proven your point--that listening to your type on a car site is not advised. We have to deal with negative comments from your type daily. If it's any consolation, I've taken your advice and am not listening to you. Deal with it. Take my advice--It's better to remain silent and thought a fool, than to speak and remove all doubt. You've added nothing while those around you have. You are most likely from a northern state.

He came to mind. He comes to mind all the time when I listen to Dave Ramsey ranting about how he is wrong. As time goes by I further believe that Dave is wrong.
Can always count on most people to have a constructive direction. Too many redeyefly types around this place the past two yrs.

you're too smart for me.

My comments are directed only at PonchoV8

Sorry you don't like my advice. I assure you currency trading is not intuitive and you won't find a site that tells you how to do it. But whatever, you know better than I do. You go ahead and think I'm just being mean because I enjoy it. It has nothing to do with me trying to help you avoid losing a lot of money. Perhaps there isn't a problem with all these people giving you advice you don't want to hear, perhaps its you?

Trust me you don't even know how much you don't know about trading currency.

Do what you want. Just don't be such a jerk to people giving you honest advice.

Ammo

Dear egomaniac, what part do you not understand? Your advice was (1) not to ask people here for a website that contains opinions on dollar protection. brilliant. I think I can ask a question if I want to. Your other advice was (2) to seek out a professional. Duh, that was what my question was--where is a website that the experts can be found. Special Ed could have figured that out. But you seem to be having trouble. Oh yeah, then you tried to insult me by pretending to have said something. I know redeyefly when I read him. Changing your name hasn't changed your personality.

Be careful Doug, the world is ripe with currency trading scams and fraud at the current time.

Ammo is good. But they say cash is king in down times. Food, shelter and clothing are the first needs. Ammo is part of the defense that guarantees keeping those needs. After that is needed the ability to procure more supplies. That's where I am. I'm assuming the dollar is near worthless at this point. I don't want to exchange ammo for supplies. I need legal tender. I don't want to end up with confederate money. I'm not trying to play the markets to trade currencies for a profit. I'm sheltering IOWs. I could buy gold and put it in a safety deposit box I suppose.