High yeild savings´s last blog post..Best high yield certificate of deposit rates.

Quick post before the weekend to let everyone know of a new site, My Last Name Means Money [MLNMM], we launched silently but successfully ten days ago. MLNMM is a blog all about both the U.S. and global economy, money, savings, jobs, investments, and a…

Assuming you’ve got those important areas covered, yes offshore assets and federal debt are safer places to move your money to. I’ll argue that diversification is crucial. Moving some assets offshore is sound advice, though I’d recommend moving assets to China, Japan and other Asian countries or the increasingly self sufficient South American countries, ahead of Europe. Asian countries, with their heavy share of the world’s manufacturing processes are slightly more insulated from a downturn. Worldwide, more and more consumers will be looking for cheap goods and China is the master of those cheap goods.

On a final note, I agree that the government should not be blocking short selling, however I’m sure you’d agree that short selling would cause a market panic and likely further increase the losses we’ve seen the past few days. Though, such losses are not necessarily bad. After all, the sooner we hit rock bottom the sooner we can begin recovering.

On September 19, the SEC suspended short selling for 799 financial companies to “protect the integrity and quality of the securities market and strengthen investor confidence“. Since then the Dow has lost 165 points. The ban ends tomorrow.

Eric Roseman says the legislation targets the wrong traders. Short sellers make the market more transparent. By blocking them, the SEC is violating the free market.

The ban has so far failed to stabilize the markets. Don’t be surprised if the government now moves to target other safe havens such as gold and offshore accounts. Eric recommends investors move quickly to secure their assets in European strongholds like Switzerland and Liechtenstein.

http://www.contrarianprofits.com/articles/why-you-need-to-move-assets-offshore-now/5762

This bailout bill represents a very, very slippery slope and, unfortunately, I believe you are right that it could lead to hyperinflation. The fact that nearly every major economist is opposed to the bailout, yet congress continues to cite “experts” stating that we need a bailout just proves to me that rationality is not a trait many politicians possess.