Platinum, Gold, and Silvergreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
With all of the talk about "safe havens" for our money-- and all of the "sales" promotion by precious metals dealers, what ARE the best choices for protecting $$$ through Y2K?
Platinum is the rarest, and at an all-time low -- but it's value seems to be more industrial or jewelry, two things in the shadow zone after Y2K.
Silver seems a safe choice, if it is used for everyday transactions.
Gold is probably the most promising, and perhaps it will once again become the standard that $$ is based upon.
What is the Smart Money betting on? Care to share with your fellow Yourdonites?
-- goldie (firstname.lastname@example.org), November 10, 1998
You left out options on commodities, selling short and other ways of using Wall Street to gamble. I am afraid that if things really go down the tubes, one would not be able to collect.
Of all the metals you mentioned, I think silver is the one that will appreciate the most. However, depending on how much money you want to hide, this can be a lot to carry around. Depending on your needs, you may also want to try some of the pricier metals you mentioned.
By the way, the premium on junk silver coins has jumped from 5% to 25% in just a few months. This is a sign that enough people are buying coins for y2k to affect the market price. Whatever you do, do so before January 1, 1999 (when computer disruptions, should they occur, would put y2k on the front burner of media attention).
-- David Holladay (email@example.com), November 10, 1998.
David, I feel ignorant, but there are probably others who also don't know this: can you tell me what IS "selling short" and "puts"?
Also, I understand that there are certain stocks that are "Y2K- industry-related", meaning that they are for companies who will profit from the impending mess... where does one find out about them? Does Yardeni deal in that?
Re: precious metals, it only makes sense to me to take possession of them NOW, not have them held by another institution that may evaporate soon.
-- (firstname.lastname@example.org), November 12, 1998.