Do you have a traditional "savings" account?

[lostchild]

If you’ve got a 5 Star CU near you…

 

[moosensquirrel]

CD's are a no-brainer for 12 - 18 months right now.

Yes, especially if one has no brain to speak of.

 

[moosensquirrel]

Compared to 0.01%? Increased 500x. But yes, still backing up. If you've got something liquid, secure and guaranteed to outpace real inflation, like Ross Perot, I'm all ears.

Gold and silver have a 6000 year history as a store of wealth. It must be in your possession, not a bank lock box, etc.

 

[moosensquirrel]

Can't believe I'm shilling for our government...

Check out www.treasurydirect.gov

I think all the t-bills are paying over 5%. You can get them from 4 weeks maturity to 52.

And you don't have to fret over bank failures...

true, but what about monetary failures...we are on the cusp of one right now. Go ahead, put $1k in a cd and let it go to maturity. If you are lucky, you just might be able to buy a loaf of bread with it. The primary focus of all the media propaganda is to keep the herd calm. One should not worry about his beard when he is about to lose his head.

 

[greg vess]

All my savings is in copper and lead.

 

[lostchild]

true, but what about monetary failures...we are on the cusp of one right now. Go ahead, put $1k in a cd and let it go to maturity. If you are lucky, you just might be able to buy a loaf of bread with it. The primary focus of all the media propaganda is to keep the herd calm. One should not worry about his beard when he is about to lose his head.

Cost you more for gas to get to the bank than the interest you’d get on $1000 cd.

 

[GeauxLSU]

Gold and silver have a 6000 year history as a store of wealth. It must be in your possession, not a bank lock box, etc.

Ron? That you?
I'm personally not interested in precious metals or anything else that volatile. My assets are in things extremely conservative. And if they ever collapse, we will have much, much bigger problems than trying to figure out how to swap precious metals as currency. We will only be swapping lead.

 

[GFB]

 

[czub]

true, but what about monetary failures...we are on the cusp of one right now. Go ahead, put $1k in a cd and let it go to maturity. If you are lucky, you just might be able to buy a loaf of bread with it. The primary focus of all the media propaganda is to keep the herd calm. One should not worry about his beard when he is about to lose his head.

Why does this have to brought up in every single money or finance thread?

Precious metals are OK stores of value and do offer protection against inflation but have a ton of volatility and pricing bubbles of their own as well as extremely high transaction costs to be effective investments or forms of money for most people. Have some of it in your portfolio, sure if that makes you sleep better at night, but going all in is a little crazy.

Gold and silver don't always retain their value either and it may take years to recover from losses if you buy into a bubble.

As someone who's actually lived through a hyperinflation and watched assets disappear, I'm familiar with the scenario you describe. Having enough cash in a bank account to buy a car, only being able to get you a few pounds of meat after several years of inflation is unsettling for sure, but there's nothing happening in the US that would get us remotely close to this scenario.

Certain people have been spouting about the impending doom and gloom for years, while the rest of the world is enjoying life with no noticeable decline in their standard of living and usually quite the opposite.

 

[WallsGa]

what is the best choice for a local CD? I don't want some internet California bank in a Wal-Mart. Would like to get 5 percent or higher.

Pinnacle Financial Partners in Smyrna.

4 months- 4.50% 4.58% apy

7 months- 4.60% 4.66% apy

9 months- 4.45% 4.51% apy

13 months- 4.35% 4.36% apy

19 months-4.20% 4.21% apy

25 months-4.05% 4.13% apy