Korean Job Discussion Forums

[Omkara]

I'm curious. Do any of you know any simple and easily accessible places to keep your money which will give a greater interest than just simply keeping the money in you bank account? For all it's worth, I'm an American.

[nobbyken]

[Omkara]

I know, I know. The whole mad cow thing has got me down.

[Zenas]

Open a Swiss Franc account at KEB. Then borrow against that account [6.6%] and open a gold account at Shinhan.

The Franc account will give you safety, the Gold account will allow you to be in gold when it increases due to the coming hyperinflation.

Gold, adjusted for inflation, should be at $ 2650 USD. It's now at less than $900. 900-2650 / 900 = 1.88 x 100 = 188 % return.

Same thing already happened before almost step by step as it is happening now. Late 1970s - 1980. Fed monetized the debt of the Vietnam war, oil went up, gold went from about $ 200 to $ 850 and would have went higher had not Volker set the interest rate to 21%. that's not going to happen this time.

Coming soon.

[SirFink]

Money market accounts, bonds, stocks, mutual funds and exchange traded funds. If you want something slightly better than a savings account but still guaranteed gains go for the first two I metnioned. Everything else is a gamble and you might lose money.

[Zenas]

If you keep your money in either of the first two, you'll lose money also, due to price inflation.

"South Korea's inflation probably accelerated at the fastest pace in four years in May as record fuel and food costs caused prices to exceed the central bank's target for a seventh month.

The consumer price index climbed 4.4 percent from a year earlier, the biggest gain since August 2004, according to the median estimate of 15 economists...."

And that's just the inflation they admit to.