Korean Job Discussion Forums

bacasper · Joined: 26 Mar 2007

With all we have been hearing about fiat money becoming worthless, this question is primarily for mises and ontheway and anyone else who may have a bead on what is going on.

I am guessing your primary investments right now are gold and silver. I'd like more detail, such as physical metal vs. "paper" metal (stored at a commercial facility) vs. mining stocks, etc.

What do you recommend for a struggling English teacher?

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

On good authority, I have it that ontheway converted his savings into bags of rice which he has buried on a mountain-side 7 steps east of a particular tree. The fortune-teller promised, for a fee, that the hex she placed on the rice will keep the wild critters away.

Unfortunately, you can't check with her right now. She is on an extended vacation on Jeju-do.

newteacher · Joined: 31 May 2007

I put all mine in this internet company called Pets.com. They have a cool sock puppet spokesperson. I think it's a smart move.

asylum seeker · Joined: 22 Jul 2007 Location: On your computer screen.

Mine's stuffed into my mattress and the cracks in the walls. You can't trust the banks! Shocked

ontheway · Posted: Wed Oct 01, 2008 9:49 am Post subject:

This topic was raised earlier and I stated then that gold and silver are NOT good investments for the same reason that they ARE good money.

Gold retains its purchasing power over long periods of time and in fact, gold has retained its purchasing power at nearly a constant level for thousands of years. Gold neither gains nor loses value over long periods of time.

The fluctuations we see in the price of gold actually represents volatility in the value of the dollar and other currencies.

You can speculate on these fluctuations of course, but I believe in investing.

I also explained earlier that I have invested by holding majority stakes in certain privately held, debt free businesses in markets that should continue to grow through a recession, and if necessary, survive a depression without accounting losses.

In addition to growing these businesses with internally generated cash, I invest any cash that I might take out my businesses in real estate which I also hold debt free, except for temporary loans as necessary at the time of purchase to hold the property for a short period of days or weeks until I can buy the entire property mortgage free.

Right now I'm thinking farm land in certain areas of the US.

mises · Joined: 05 Nov 2007 Location: retired

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

OneWayTraffic · Joined: 14 Mar 2005

Cornfed · Joined: 14 Mar 2008

Perhaps buying gold jewellry such as gold chains with links of a standard weight would be the idea. If things get much worse, gold bullion is likely to be confiscated, as it was in the 30s.

TheChickenLover · Joined: 17 Dec 2007 Location: The Chicken Coop

1. Put my money into purchasing an apartment (90% appreciation after 4 years) Cool

2. Banks

3. Oil Stocks

Chicken

mises · Joined: 05 Nov 2007 Location: retired

riverboy · Joined: 03 Jun 2003 Location: Incheon

I have a debt free home in Canada and 150 grand tied up in key money. I think about bailing every day.

The apartment situation is getting serious. In Gagnam housing prices are plummeting. Also, in Songdo, houses which were going for about 550 million last year are selling for around 400 million won now.

mises · Joined: 05 Nov 2007 Location: retired

Korea will have a very serious housing crash. It will be epic.

riverboy · Joined: 03 Jun 2003 Location: Incheon

I agree misses.

What are your thoughts on the won?

mises · Joined: 05 Nov 2007 Location: retired

No idea. I suspect it will stay relatively stable. But I'm "short" the ROK. I think we've past peak Korea.