DEVALUATION - Intriguing Question

Intriguing question. It is looking like the Ukrainian hygienic hryvnia (their money) is to be sharply devalued - imminently. Ukrainians, bless them, are queuing to buy euros and U.S. dollars. There aren’t any for them. A week’s wages won’t buy a day’s groceries next week if it goes the same way as similar national bankruptcies.

For those who have a reasonable amount of hryvnia I have suggested buying something else likely to better hold its value. Something that can be re-sold after devaluation. I thought of a few things; jewellery (second hand), second hand car, what would be your choice?

I buy Silver coins, have done for years, always has a value, always someone wants to buy them from you,  the right coins can be exchanged for goods..Should the need arise, right now Silver is at the lowest it's been for some time, takes no storage room up,  can be hidden away, when things get tough people might sell it of cheap, and you just  might have the funds to buy it, can be melted down for many other use's, and the best of all is, it / they, wont never ever go out of fashion.

A one way ticket to the U.K. problem solved.

Clearly it depends on how much money you are talking about, but I would imagine that silver and gold are reasonable options and fairly safe. If it's a small amount of money.

In Argentina white goods and imported alcohol shot up 33%, might be worth considering as a last resort...I have friends who made a healthy profit over there with whisky believe it or not!

I have made my fortune buying Shares, Fine Wines and Rare watches and yes a few rare 50 year old Mcallans sitting in my collection ie Rare whisky for the uninitiated which have outperformed any other asset class in the last 20 years 

Silver and Gold are to volatile and of course the risk of theft is a consideration one of my best buys was the 

This message was last edited by hughjardon on 25/03/2014.