Quote:
Originally Posted by sky
I also want to keep some cash for now and am considering to exchange part of the euros in CHF, because I believe there might also come a meltdown of the euro. What is your opinion on the CHF, might that be a good choice also?
Sky
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I think the CHF is one of the few sound currencies left on the planet. I have heard that Austrian and Danish currencies are also gold-backed, but I am yet to verify this. I am currently attempting to get my father to dump his dollars and buy francs. As for Euros, I am not confident that they have a good long term future. They are just another low-rent fiat currency whose value rests in the hands of... I wonder who?
Not to be alarmist, but it may do everyone a bit of good to bear in mind that if things go bust in a truly catastrophic fashion, I am not certain that any conventional investment will be worth a damn. If food becomes scarce, for example, a ton of gold won't buy an egg. I would say that preparation of an emergency kit may be a sound idea at this time. Enough basics like food to live on for at least one year. Just a thought.