“Look Ma! No Hands” refers to a kid riding his bike without using his hands; a risky act of courage and daring.
Family elders used the term as a warning sign when kids were showing off. I’d have scoffed at today’s kids (“chicken!”) wearing helmets while riding their bike. Falling off and skinning up your body was how you learned to ride.
Yet, in my 60’s I rode my bike for miles and insisted on wearing a helmet. While the crash probability might be slim, a helmet protects against a traumatic head injury.
Our recent article, “Inflation Is Quietly Poisoning Your Retirement Nest Egg” dangers from a sudden spike in inflation, and how gold could be used for protection.
Subscriber Joel T asks:
“First… is a recommendation by Chuck Butler (about how the dollar reserves are falling) – “It’s all happening right before our eyes folks…. I sure hope you’ve properly diversified your investment portfolio using currencies and metals.”
Would you consider sharing your views regarding currencies as a haven?” (Emphasis mine)
Gold and foreign currencies are insurance. Like helmets, you don’t need them – until you do! Then you’re doggone glad you have the protection.
Good friend Chuck Butler is a true expert on foreign currencies. Chuck agreed to help address the question.
DENNIS: Chuck, on behalf of our readers, thank you for your time.
I’d like to focus on several things.
- How foreign currencies can help offset inflation.
- What alternatives are available?
- The pros and cons of those available choices.
Let’s start at the beginning. How can holding foreign currencies help offset inflation of the US dollar?