Weak Rand- but get offshore

J

Jonny_9

Well-Known Member
Joined
Oct 19, 2017
Messages
377
Reaction score
316
Listen,

I ain't no doomsday prophet. I am usually one of the positive okes. And, also, I am not gonna emigrate.

But lately, with this covid krap, the ridiculously poor economic performance of SA leading up to it and an uneasy feeling going forwards, I am thinking of moving my nest-egg overseas. Somewhere. Somehow.

I just don't want to be that last Zimbabwean that said that its gonna be ok. And then it was a billion dollars for a loaf of bread and it was too late for him to go anywhere.

Let's assume I have a R1m cash. And it is in a local money market account. It is probably as safe as it can be in SA now I guess.

But I don't want it to be in SA. SA seems to be failing dismally.
I know that it is like R19 to the dollar now- so it is expensive to buy foreign shyte. But would it not be wise to buy foreign shyte so that one's money is safe somewhere out of reach of the local Radical Empowerment Cadre goons that are currently sniffing and circling the pension funds of the nation?

Tell me if I am being silly. But if not, what would you suggest? USD seems flimsy these days(or at least USA seems more flimsy than usual); what about German ETF of some sort? How is Germany? Japan? Pound?
I know the world is taking a knock. And I don't expect anyone to be Nostradamus.
But a safe guess as to where and how to place my nest-egg away from the lunacy of this country?
 
Well, you should definitely diversify, and that of course includes offshore investments. I have the bulk of my investments in the US. Not foolproof (and indeed being tested by a fool right now), but if the US tanks, the world in general isn’t going to be a particularly happy place.
 
history shows that the value (however you wish to defined that) of all fiat currencies which ever existed tend to zero

so as you have suggested, no point converting it to dollars because thats just another problem, the Euro is even worse and the yen as well

the best option is gold and silver, but personally I'm not such a major fan of those two since the central banks control most of the supply of that as well, although silver is extremely cheap at this point. So do some research on what is considered to be money and then make an informed decision based on that
 
cguy said:
but if the US tanks, the world in general isn’t going to be a particularly happy place.
Click to expand...

this is debatable, if the US tanks, the world would no longer have to accept worthless dollars in exchange for their goods, and fair trade may resume
 
saturnz said:
this is debatable, if the US tanks, the world would no longer have to accept worthless dollars in exchange for their goods, and fair trade may resume
Click to expand...

Decades later, perhaps.
 
How to sleep well at night: diversify, diversify, and then diversify some more. Across asset classes, sectors, geographies and service providers.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X