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fuzzy
09-04-2010, 07:20 AM
i have an opportunity to go work in Saudi. will be going over there this november. Im in the process of selling everything I own here in the USA. while there, I should be able to stash back about 100k per yr. My plans are to stay 5 yrs. im thinking about keeping a portion in gold/silver, and in a non usa currency...maybe china. any thoughts and ideas would be great

freetx
09-04-2010, 09:51 AM
i have an opportunity to go work in Saudi. will be going over there this november. Im in the process of selling everything I own here in the USA. while there, I should be able to stash back about 100k per yr. My plans are to stay 5 yrs. im thinking about keeping a portion in gold/silver, and in a non usa currency...maybe china. any thoughts and ideas would be great


Don't forget about the Foreign Earned Income Exclusion....also in there is a provision that allows for "upkeep of a stateside property". I think its something like you can claim another $25,000 per year if you are claiming its going towards the upkeep of your US home.

As for the Renminbi vs USD play....not a bad idea, but I don't trust any of the fiat vs fiat games to put a significant amount of cash behind them.

The only fiat currency hedging I do (outside Gold and Silver of course), is I have about $10K split up between CAN and HKD. The theory being is thats 3 months of living expenses should a massive USD collapse happens and I don't have access to my Au/Ag stash....

Silver Tongued Devil
09-04-2010, 04:07 PM
Congratulations on the lucrative job.

First thing I'd make sure of is that I had a stash of whatever currency it will take to buy a ticket back to whereever you plan to live after the assignment. For example, keep $2000 cash in a drawer, in case a big crash occurs and the banks fold up - maybe you'd need Saudi money - I'm not sure - but do not depend on being able to get it from a bank or ATM.

Second, I'd have 6 ounces of gold on me in case the currency ends up being useless - go down to the docks and give a ship captain an ounce or two to take you where you want to go in case the airlines fold up or will not take your cash.

So, now you can probably get out of there when needed.

Might provide yourself with a small stockpile of food/water to get you through a month of bad times as well.

Then, you need to stash enough gold/silver/cash to survive anywhere in the world for a couple of years without a job.

Now you can concentrate on investing. Gold, silver, land that will grow food, a retirement place, foreclosed rock-bottom priced real estate, food, guns and ammo, water collection and purification, solar electric system (for self-sufficiency), tools, whatever you might need in bad times, etc.....

Foreign currencies? I hear that Brazil and Chile are doing well - I am not an expert on them.

MoMoney
09-04-2010, 04:14 PM
Good luck and keep us posted throughout your adventure, Fuzzy!
I'd buy some gold coin jewelry in case you need to flee in a hurry, sort of like escape insurance. Wear it discreetly, if possible.
I wear a belly-button ring with 1/10 oz. AGE's attached...only kidding, sort of! ;)
Foreign currency I like: Norway, Brazil, India, and anything Swiss.