Should I be converting my money to Euros before they pass the 700 billion bail out? Is that

[JohnnyBoots]

the only real way to protect against the value of the dollar dropping like a rock? Any econmics/money people out there?

[Warpy]

1. I don't think there's anything you can do

because we won't know the right course of action until we're nearly through the crisis.

After all, there were stories during the Depression of people trading very expensive gold items for just a couple of meals at a cheap diner, just enough to keep them going another few days.

Economic collapse, something I sincerely hope we're not facing, is just that. Everything is topsy turvy and few things maintain their pre collapse value.

You won't be able to spend those Euros when you're hungry, you know.

[Winterblues]

2. I doubt seriously the Euro will decline in value

The dollar I have serious doubt about. Investing in foreign currency is probably a very smart move in these dire times. The world is not impressed with American economics at the moment. After a few months with a President Obama you may want to switch back.

[daa]

3. Threre is an ETF you can buy

that is BWX. That is a bond fund denominated in foreign currency, not dollars.
there are also ETF funds that you can buy that are foreign currency. Here a list of currencies"
http://etf.stock-encyclopedia.com/category/currency-etfs.html

[CoffeeCat]

4. I don't think there's anything you can do...

..as far as monetary issues, because who knows how this will all shake out.

I think the best thing you can do is STOCKPILE the things that you need. I can't stress
that enough. If the dollar is devalued or if inflation hits--it pays to all ready have many
of the things that you need.

Start stockpiling canned goods and foods that will keep for a while (peanut butter, tuna fish, oatmeal).
Batteries are essential. Think about the things that you use daily--toilet paper, shampoo, toothpaste,
deodorant, soap, razors. Replenish your medicine cabinet--have a first-aid kit, band-aids, pain reliever,
cold medicine.

Also, here's my couponing tip of the day. In my area--if you purchase 2 boxes of General Mills cereal at Target--you
get a Target $5 gift card. Cheerios are $2 a box. So, 4 boxes = $8. Buy the 4 boxes, get your $5
gift card--and go back through the line, buying another 4 boxes--using that $5 gift card. This time your
total (for 4 boxes of Cheerios) is $3 $8-$5 gift card). That's 75 cents for a big box of Cheerios.
Lather, rinse, repeat until you have a stockpile of Cheerios. Cookie Crisp is also $2, and many other
cereals are $2.38 and $2.50.

Check your local Target ad, so see if this deal is available in your area. Go to www.target.com Click
on "weekly ad" and enter your zip. The ad will tell you if the cereal deal is going on in your area.
Some stores are giving free milk with the cereal...some are giving the gift cards.

Stockpile, stockpile, stockpile...

[RB TexLa]

5. A couple of years late. It would be nice to see more places accepting Euros, and I'm sure we will

[enid602]

6. non-dollar funds

No, but you can purchase non-dollar stock or bond mutual funds, whose assets consist of foreign stocks/bonds, and will go up in value should the value of the dollar plunge. For example, check out:

MERK HARD CURRENCY FUND INVESTOR CLASS MERKX
LOOMIS SAYLES GLOBAL BOND FUND RETAIL CLASS LSGLX
T ROWE PRICE INTERNATIONAL BOND RPIBX
T ROWE PRICE EMERGING MARKETS BOND PREMX
AMERICAN CENTURY INTERNATIONAL BOND FUND BEGBX

Those are just some of the examples I´ve found.

The beauty is you don´t have to withdraw funds from your IRA/401K (no penalties/taxes), and don´t have to worry about foreign banks, wire transfers, etc.