I did almost the same thing Slik. I got the idea from Peter Schiff in his Crash Proof book, but it's bascially the exact same thing. We're using the (still available) equity in our houses and setting up a carry trade. As long as our after-tax take on investments keeps above the 6% mortgage we're alright.
I especially like the foreign dividend yielding stock play since not only are the dividends of these relatively conservative companies paying quite a bit above 6%, but they're paid in the local currency which are all pretty much rising against the dollar.
Silver is a great place to be too as a hedge against the dollar, but mainly since it remains so wickedly undervalued and capped by the concentrated short positions. We've got a long way to go before the correct silver price is found and we're all in at the bottom as far as I'm concerned. SLW is probably the PREMIERE stock play to leverage the climbs ahead for silver.
The concentrated short entity is there to control the small silver market and 'control' the price and frustrate those seeking escape from the dropping buck. Banks are resting on their self-made precipices and I expect more bail out news. But it isn't just the banks. Debt is EVERYWHERE. Consumers carry huge debt loads and I've been reading that some now can't pay their home equity bills (another time bomb). Cities are in debt as well as states and corporations. All just in time for baby boomers (baby doomers?) to retire. They'll expect trillions in promised entitlements, but there will be no money to pay them. It's too late to let all this work itself out now. In my opinion the Fed has no alternative but to inflate. They will of course protect their own first, because after all, the Fed IS the banks: JP Morgan, Chase, Citigroup, Goldman Sachs, Warburg and so forth. One of the reasons these banks took so many risks is that they knew they were too big to fail and if something bad happened they could, in effect, bail themselves out with money out of thin air. That's what they're doing now. The rich hyper elite makes sure they can't fail, and they do it at OUR expense.
The money they create to patch up the leaks hurts the rest of us through inflation. It's a hidden tax. It truly is taxation without representation. We get no say in the buyout of Bear Stearns. Even BSC shareholders had no say--their wealth was simply stripped from them by the fascist Fed. We need another revolution to remove the bankster cabal.
Until that happens, the smart thing for us to do is to buy silver and gold and get the word out to friends and family. The banks don't want that and their corporate happy face media remind us that gold is in a bubble and a terrible 'investment' and on and on. They can't allow Americans to rush to gold and silver. That would mean we're cutting into their action. They want us to remain in crispy dollars. Makes it easier for us to be their bag holders. Their slaves. Therefore they manipulate the COMEX and commodities futures exchange to make the rules favor the shorts. (Themselves). They'll do anything to scare us away from our out of precious metals. They will keep doing this as long as they can. They will go down fighting gold and silver until all the paper arrows are gone from their quivers. The Cabal controls the entire market and its institutions. It's all built on lies and manipulation. I for one will stick with the 'reality' of gold and silver.
To be honest Slik, I was a little skeptical at first, or at least unsure as to how to proceed regarding buying foreign stocks. I thought maybe I could go it alone by working with E*Trade or Interactive Brokers or something, but then as I started messing around with it more I decided I liked the idea of working directly with Euro Pacific Capital (Schiff's company.)
Since I've been onboard with them I've been receiving a very healthy dividend stream on stocks like Hyflux and Essential Energy and a few others. I'm looking forward to adding more to my account with them and reinvesting dividend monies. I'm still in the early stages, but I like what I've seen so far.
I'm trying to stay diversified by also purchasing physical metals and resource stocks on my own (ie, accounts I manage myself.) Also, I've eliminated all debt but my home mortgage which has been the most freeing financial experience I've had in a long, long time.
Lastly, I'm looking for ways to cut costs and raise more cash to buy yet more of the stuff above. I commute to work on my bike which has saved me tons of money. I'm incrementally replacing all the topsoil in my yard to make it more fertile for growing vegetables (my family already has year-round lettuces and such which helps us keep food costs down and feel better by eating home-grown food.) I'm also installing at 2 kilowatt solar panel system on my house because I think electricity is going to get very expensive one day soon.
Bottom line is I'm trying to protect my family from a storm that is gathering. I try to tell friends and family to consider doing something similar but they really think I'm a kook. No problem though, I've been called worse.