Take money out of U.S.

[nordicman]

I am retiring in Thailand in 2 years. I think long term the U.S. dollar is going down the tubes. Most say don't put a lot of money in Thai banks. What to do? I am thinking of buying gold and holding it outside the U.S.. Is there any advantage to buying gold in Thailand? I have some Canadian maple leaves (.9999)gold. Any problem with bringing them to Thailand? Selling them in Thailand? (any premium?) If I wanted to take the gold out of Thailand; is that a problem? This gold is to provide diversification since I'll have a very modest U.S. pension. Would keeping the gold in a safe deposit box in, say, Hong Kong be a better choice?

[dean]

I took two Australian gold pieces to Thailand last year to possibly sell. I bought them in 1997 and then the price fell about $100. The price had risen to where I could get about what I paid for them. It turns out that, if I had gone back to Perth and sold them, I would have received a premium by selling them there instead of in Bangkok. Obviously, it depends on what the gold rate is.

[nordicman]

Dean, Yes, I understand, but I was told that these Canadian maple leaves might fetch a price a bit above the current price of gold. apparently, they are some what in demand in some other countries.

[buffalo_bill]

nordicman ,

 

unless you feel heavily troubled by old family instincts of the buccaneer-type , I cannot see any point in buying gold in tons and travel round the world with it. If it must be gold, buy gold-certificates. But they deliver no income, pure speculation. If you say your poension is medium size, you might want to add some income to it , so I would buy some dead safe bonds or what.

 

The easiest way to travel with gold in Thailand is to hang it round your GF's neck, nobody will be asking questions and she lub you.

 

BuBi

[nordicman]

Buffalo_bill, Well, I really wasn't planning on dragging my horde of gold around with me. I'd have it safe in a vault somewhere. I want to have it as a hedge against the inevitable decline in the dollar and other currencies.

[dean]

It would be time consuming to go to Chinatown and check with as many gold shops as possible. I checked with 7-8 shops about my Austrailian gold pieces and no place offered even the "buy" rate that is displayed. Unless your gold pieces are world renound for being an exceptional buy, I wouldn't expect that they will offer you any more than they offered me (except for adjustment in gold rate).

[nordicman]

My main question is: should I just buy the gold in Thailand? I wasn't going to since I don't know much about buying "baht of gold" Does one really know what you are buying? No Hallmark, etc. with the Canadian maple leaf you are assured of it being .9999 gold.

[buffalo_bill]

If I say gold will suffer from an " unevitable decline " , buy USD like stupid , where am i wrong ?

[nordicman]

Buffalo_bill, yes, you are right......but you might be wrong. From what I have been reading and I am by no means any kind of expert, it looks like the purchasing power of the US dollar is going down.

[dean]

In terms of Asia, the purchasing power of the u.S. would be tied to the re-valuation of the Chinese currency. Thailand would follow suit (more than likely). Not being very knowledgable about currency fluctuations, I wouldn't bed my retirement money on it.