Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yeah, isn't it remarkable how the enduring fashion is to malign the US dollar as frumpy "fiat currency", liable to a grievous fall, any minute now... only to see, year after year, the dollar appreciate relative to a global basket of currencies? Whichever political team happens to hold power in the US government in any given cycle, the opposing team is absolutely convinced, that now we've finally done it, now we're finally going to get a rude and expensive comeuppance! But it never comes. Instead, the rest of the world - corrupt or not, hard working or not, productive or not - keeps falling behind. Why is that?
Yeah, isn't it remarkable how the enduring fashion is to malign the US dollar as frumpy "fiat currency", liable to a grievous fall, any minute now... only to see, year after year, the dollar appreciate relative to a global basket of currencies? Whichever political team happens to hold power in the US government in any given cycle, the opposing team is absolutely convinced, that now we've finally done it, now we're finally going to get a rude and expensive comeuppance! But it never comes. Instead, the rest of the world - corrupt or not, hard working or not, productive or not - keeps falling behind. Why is that?
I wouldn't say that the dollar actually appreciates relative to other currencies, but that is depreciates less. The dollar, like any other modern currency, simply loses value over time due to inflation. Faster and further some times, less so at others, but it always loses value over time and that is why tying up large sums of money in bonds or CD's at a minimal or even negative real return rate is a terrible way to try to grow your wealth. Yes, you should keep some cash on hand, but only enough so that you sleep well at night and no more. The rest needs to always be invested.
What is $1 of cash earned in 1940 versus $1 of real estate or the S&P500 index purchased in 1940 worth today? 1960? 1980? 2000? Even 2020?
Last edited by treasurekidd; 05-10-2024 at 02:01 PM..
I wouldn't be so quick to dismiss this lady. Her boss Jamie Dimon has been saying for at least a couple of years we could be in for some very tough times.
Right now, Japan is going through a currency crisis and having to prop up the Yen. China was and still may be.
There's not much news anymore beyond Hollywood and sports so how is one to know? Was it Argentina whose President devalued their money by like 50% recently?
One of the Presidential candidates has been reported to say he will devalue the dollar if elected.
Personally, I would listen to your bank lady and ask her for sources of her information. Maybe she is full of it and maybe she isn't but until you find out for yourself you'll never know.
The thing is no matter what the value of the dollar is, it's value is directly reflected in the equities market. There's no getting around that.
If you really want to get concerned read "The Great Taking" by David Rogers Webb. He went door to door to his neighbors and showed them his evidence and they ignored him. People make their own choices.
so my "personal banker" has been on my case lately
telling me that I should immediately get out of cash right now and invest everything that is in my savings in a managed portfolio
she is saying that cash is going to be nearly useless in the months ahead and dollar is going to crash
WHile I do think that wisely investing is the best strategy but I'm getting uncomfortable why she is being almost pushy right now, secondly I would never like to invest in anything I do not understand ( granted my financial knowledge is poor ) but just seems silly to get into something I dont understand
Is there really a grave concern that dollar will lose most of its value in the near future ?
Do the personal bankers get a cut every time we invest through them or she is doing this out of the goodness of her heart and watching out for my interest ..I'm skeptical
please help
You need to move on from that "personal banker"...........
If you move to a managed portfolio she will absolutely get some type of commission.
If cash makes you sleep good at night, keep your cash.
The amount and your age are two huge factors in your decision/outlook.
If you are 80 years old and its $25,000 then don't do anything.
If you are 40 and its $250,000 then you might need to diversify
I wouldn't be so quick to dismiss this lady. Her boss Jamie Dimon has been saying for at least a couple of years we could be in for some very tough times.
Right now, Japan is going through a currency crisis and having to prop up the Yen. China was and still may be.
There's not much news anymore beyond Hollywood and sports so how is one to know? Was it Argentina whose President devalued their money by like 50% recently?
One of the Presidential candidates has been reported to say he will devalue the dollar if elected.
Personally, I would listen to your bank lady and ask her for sources of her information. Maybe she is full of it and maybe she isn't but until you find out for yourself you'll never know.
The thing is no matter what the value of the dollar is, it's value is directly reflected in the equities market. There's no getting around that.
If you really want to get concerned read "The Great Taking" by David Rogers Webb. He went door to door to his neighbors and showed them his evidence and they ignored him. People make their own choices.
saying something will eventually happen for years is useless when it comes to investing.
being close only counts in horse shoes and hand grenades .
when it comes to investing, you are either right on or don’t bother .
more money is given up in preparation for the next supposed downturn then has been lost in downturns
saying something will eventually happen for years is useless when it comes to investing. ...
Indeed. Vague ominous exclamations that "the end is near" offer nothing usual; only pointless heartache. But it actually gets worse...
Quote:
Originally Posted by amil23
...
If you really want to get concerned read "The Great Taking" by David Rogers Webb.
This is a vapid and shrill conspiracy "theory". Worse than a bad guide to investing, it's a paean to outright lunacy.
We may indeed endure difficult times ahead, perhaps owing to profligacy or other bad decisions in the present. But it won't be because of some cabal of sinister manipulators gathering in a back-room somewhere.
Now back to our usual program, where we keep wondering why American Exceptionalism, for all of its insufferable crassness, keeps being right.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
