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Members Helping Members help Buying a non Pontiac item, transportation help, Handy-man advice, directions, vacation ideas, places to dine, ebay and generally anything you think might help other members. |
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#1
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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, |
#2
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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.
Last edited by sleepy; 04-27-2008 at 01:16 PM. |
#3
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What would be a foreign money that would hold value? I think the British Pound. How about the Australian dollar? What other?
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#4
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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.
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#5
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The yen, paso, euro.
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#6
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Great site:
https://www.fidelity.com/
__________________
Ant 1967 Pontiac Tempest, GTO-Inspired "What's so special about having Italian food cooked by a bunch of friggin Mexicans" Paulie- Rocky Balboa "Your heart is free, have the courage to follow it" Braveheart http://i106.photobucket.com/albums/m...Wm0SlqN030.jpg |
#7
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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.
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#8
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#9
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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. |
#10
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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.
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#12
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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.
__________________
Drag www.dixiemusclecars.com The Southeast's only online Community dedicated to the American Muscle Car! 2006 PBM GTO LS2 1995 Arctic White Trans Am LT1 1981 Trans Am Daytona Pace Car 1969 Gold Poly Firebird w/400 |
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Can always count on most people to have a constructive direction. Too many redeyefly types around this place the past two yrs. |
#16
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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. |
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Ammo
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Be careful Doug, the world is ripe with currency trading scams and fraud at the current time.
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