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shadows's Blog

by shadows

Last Post 20 hours Ago


Financial advisers and accountants are reportedly getting an overwhelming number of telephone calls from people who want to protect their savings.   People are very frightened.   Many are opting for banks, but there are also concerns about the safety of banks, since so many of them have failed or have come close to failure. 

What advice would you give to people who want to protect their savings?  Are the banks, insurance companies, and other financial institutions good places to keep money?  How about the stock market?

And how about the actual dollar?   Will it be devalued even more as a result of this financial crisis?  Are there foreign countries and currencies that would offer more safety and return on your money?
  Would gold be the best bet?

What is a good financial plan for these troubling times?



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Member Comments Total Comments: 7
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sensiblejoe read my blog
Sep 23, 2008 | 6:23 PM

Section 8 of the Wall Street bail-out package that the Bush administration is trying to push through Congress includes these notorious 32 words:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

In other words, W wants to drive up his already monstrous deficit by handing over (at least) 700 billion of our taxpayer dollars to his appointee, Secretary of the Treasury (and private investment banker) Henry Paulson, who will then have carte blanche to disburse it to whomever he pleases among a bunch of businessmen who already proved they couldn't manage their own money, without having to account for anything and with nobody having any ability or legal recourse to question it — at all, forever.

Where is the rule of law over all on which America was founded? Where are the principles of responsibility and accountability that the Republicans preach?

If this dangerous case of institutionalizing what is literally lawlessness bothers you, law-abiding American taxpayer, contact your representatives in Congress and tell them: "No way!"

You can reach them through http://www.house.gov/ and http://www.senate.gov/.

CynPro read my blog view my photos
Sep 23, 2008 | 8:14 PM

Paul Krugman on the arrogance of Henry Paulson

Krugman: Wall street bailout most socialist move ever

vision read my blog
Sep 23, 2008 | 10:08 PM

That sentence alone says it, stealing and raping the Americans is what they are trying to get away with, and catering to the illegals. The last three years have highlighted corruption like non other in our white house. Thank you for the web site, NFW, BLEEP, to congress, do we look like your idiots?

Gold yes, and a AK-47 accompanying your stash.

vision read my blog
Sep 23, 2008 | 11:07 PM

I am from KS area.

shadows read my blog
Sep 24, 2008 | 8:00 AM

I have heard many people "quietly" discussion moving some of their money to Swiss accounts, annuities, etc. Others seem to be more speculative with thoughts about investing in Ireland, although many of the firms that are bolstering Ireland's economy are from elsewhere.

Even the foreign markets are presently getting hammered as a result of this crisis in the U.S.

davidpatrick344 read my blog view my photos
Sep 24, 2008 | 9:43 PM

gold

shadows read my blog
Sep 25, 2008 | 12:08 PM

davidpatrick344, stocks, coins or bullion?

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shadows

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Member Since: 8/27/2006