John T. Reed’s news blog

My book How to Protect Your Life Savings from Hyperinflation & Depression, 2nd edition says to acquire sound foreign currencies as a hedge against possible US hyperinflation. It also says you need to leave the U.S. in the event of U.S. hyperinflation so you should scout other nations as possible refuges during U.S. hyperinflation—which I expect would last 6 to 24 months..My recent trip to the Baltic nations was a bit of that. As always. I took my Schwab ATM card. I use that because it does not charge 3% or some such when you withdraw from a non-U.S. ATM..As...

Lot of kids although it was not as bad as you might fear. The usual casino is replaced by day-care facilities. Things to do were very heavily watching current and past Disney films and cartoons. But there is a sort of hole in the Disney past on the cruise. In the 1950s and 1960s, they were big on Davy Crockett, nature specials, science like outer space and nuclear power. That was great stuff. Now they do Black Panther and super heroes, not to mention The View and liberal politics ESPN.   The food was okay to my taste. Three restaurants—Rapunzel...

In a Facebook discussion, I said, 4. FINCEN only covers financial accounts. You are not required to report gold or other precious metals or cash held abroad. Your statement that the rules apply to the contents of safe deposit boxes is false. There is an IRS FAQ that says so. I linked to it repeatedly. Reader Dog Thorburn responded, On # 4, respectfully John, you are incorrect.I had such a case. My client thought reporting the contents of his safe deposit box in Switzerland might be required when this crap began to come down in '08. I didn't believe it,...

I advocate putting enough money to live on for 24 months into foreign currencies that are held abroad. Most mine are in foreign saving accounts denominated in the currencies of Canada, Australia, and New Zealand. I have a lesser amount in gold and foreign currencies (CHF, DKK, SEK) in cash in a safe deposit box in Canada. I would prefer savings accounts, but those countries have little or no inflation or even deflation and they make it near impossible for an American to have a bank account there.Anyway, if you follow my advice to do that—and the Venezuelans and Iranians wish...

The ruling class does not like Trump’s style, to make the understatement of the year. But here’s perhaps a more important problem. They consider themselves to be the ruling class. That means the person that they choose gets to be in the White House and the party of that person also controls both houses of Congress.In 2015 and 2016, the ruling class, which includes the media, not only directed the public to vote for Hillary; they laughed at the mere mention of Trump. Huff Post put any mention of him on their entertainment page.The ruling class is influential. What they...