Where to slowly put $5000 for emergency savings

[stevesmi]

here is a chart comparing the S&P 500 with the US Dollar index over the past 5 or so years. as you can see the the dollar has been essentially flat, even during very bad times. we had a very deep recession back in 2008 and early 2009, and the US dollar held strong through all of that .. if anything it actually moved up slightly during those bad times. while the S&P 500 dropped 40%. since then the economy has steadily recovered now growing 2-4% per quarter and the S&P500 manged to recover all their losses and during this the US dollar actually underperformed.. so in essence the US dollar is actually a great investment during bad times and a crappy one when things turn around.

UUP Basic Chart | PowerShares DB USD Index Bullis Stock - Yahoo! Finance

meanwhile gold and silver both took huge hits in late 2008 and then have roared back. so in essence they are poor investments during bad times and great ones when the economy recovers so they are poor investments if you think things look bleak.

this is a chart of the silver index

SLV Basic Chart | iShares Silver Trust Stock - Yahoo! Finance the 3 quarters of negative growth were end of 2008 and the first quarter of 2009.. that when silver did worse. the quarters of 2-4% growth since then silver has roared higher. so my point is silver goes up along with a growing economy and does poorly when the economy shrinks. so its a poor hedge.


I'm not saying silver isn't gonna go higher or lower. I'm saying to invest in silver based on the premise that the US economy is going into the crapper has not worked at all. if you really do think the economy is gonna go into a double dip recession then you should short silver and buy the US dollar. (FYI i do not see this happening just giving an example)

 

[puddlemonkey]

lol@a bunch of broke bitches discussing finance

 

[PICK3]

Wished there was a way to invest in Glad's threads ... they're guaranteed gold!!!

 

[-SD-]

This was excellent, thank you for that.

I've had a Forex practice account for about 10 months now. I've made consistent gains, but I'm extremely conservative, and if I were to actually put in real money, the amount would be so low that my gains would amount to almost nothing. It's fun to dick around in, though.

But you would actually be in the losses because of the time it took you to actually do all the dicking around.

Unless you value your time at $0/hr

 

[redshirt27se]

well... it all depends on the condition of the silver coins.

in actuality its anywhere between 5-10 bucks per $1 of coins you have, in other words 4 silver quarters can get you from 5-10 bucks today. but don't expect to get paid that by a dealer. they usually offer you $3-4.. then they turn around and sell it in bulk at much higher prices. again thats how they make their money. the rakes they take in from commodities are tremendous. I would shop around to get the best deal. don't just go to your local flea market and take whatever the guy with the beard offers you.

I sold a lot of silver coins recently and I managed to squeeze out $5.50 per dollar for them. but only cause I shopped around and negotiated..

Your values are way off bro. Morgans and Peace dollars ($1 face) have a melt value of $25 currently. Will you get $25 from a dealer? No, but you'll get $20 no problem. Even when silver was in the $25/oz range they were still worth significantly more than the $5-10 dollars you are saying.


You got $5.50 per dollar face? That's a huge rip off man. I sold some silver a few months ago and I got way more than that.

 

[jiggagold]

Dance with who brung ya, Godzilla style rob

Godzilla spotted in the pacific!!!

headed straight for california!!!

glad run for your lifeeeeee!!!!!!!

 

[axismundi]

Holy shit, this is awesome.


People make fun of you because you're a douchebag. When someone points out silver is a pretty shitty investment (or as you insist on calling it, a savings account), you enter rage mode and start talking about how rich your brother is. lolwut? Good stuff, bro.

Silver isn't a shitty investment. It's nearly doubled in a decade, has been valuable for thousands and thousands of years, is a nice cheap investment, if you pick up silver eagles or some other highly recognizable mint you can pretty much sell it for what you bought it for...

Are you going to get rich off of it? I doubt it, doesn't really go up a lot in value. It's not an investment, it's a savings vehicle.

 

[axismundi]

it is a complete myth that the US dollar has weakened much at all. in the past 5 years the dollar index is almost flat.

It very much isn't a myth... I clear international freight for a living... I deal with currency conversion all day every day... in 5 years I've watched the dollar trade for less and less and less compared to other currencies... the easiest example is the Canadian dollar... It used to trade around 1usd to 1.52CAD right now it's trading 1USD to .97CAD

 

[stevesmi]

You got $5.50 per dollar face? That's a huge rip off man. I sold some silver a few months ago and I got way more than that.

my bad. I meant 5.50 per quarter obviously. that would make no sense if i got 5.50 per dollar face lol.

 

[redshirt27se]

my bad. I meant 5.50 per quarter obviously. that would make no sense if i got 5.50 per dollar face lol.

That sounds a lot better. I thought you got taken to the cleaners when I first read that.