The ECB will eventually have to inflate the Euro. Just like the FED is already inflating the Dollar. Of this I am (almost) certain. Therefore, I should put my money somewhere else. But where?
Gold is ridiculous right now. I mean, I sure wished I had decided to buy it a year ago. But gold is useless. It's the biggest bubble in human history. The only reason gold is valuable is because people think that it is valuable. On the other hand, in the end, that is true for almost anything.
Alternatively I could buy some Switzerland bonds. Their central bank (SNB) has just decided that a 70% overpriced currency (compared to PPP) is too much. I would agree. The Swiss are currently buying German cars and laughing at the silly amount of CHF we want in exchange. That's not funny anymore. Of course, the Switzerland export industry is laughing as well - in disbelieve. They can't believe what is happening. Nobody here can afford to buy goods from Switzerland anymore.
The SNB is really between a rock and a hard place right now. Not intervening, however, might crush their industry. So .. I can't imagine the CHF to rise even more. Not a good investment, unless you're really desperate and fear some hyperinflation.
The other strong Euro economies, like Norway or Denmark are mostly about oil. And oil prices will decline in the coming crisis - at least in the timeframe that I am talking about.
This leaves me with exotic investments like Swedish bonds of which there aren't that many or some Asian bonds of which I don't know much.
These are the times, I'd really like to save and reload. Or at least be able to make a new char ;)