Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

So How Does One Purchase Other Currencies as Protection? Financial Freepers? (Vanity, Vanity)
10.05.09 | chickensoup

Posted on 10/05/2009 5:21:30 PM PDT by Chickensoup

I called my brokerage accounts today, Fidelity and Scottrade and neither handles other currencies. How does one tranfer monies to other currencies. Is it only for the rich and super rich with off shore accounts? Can a little Jane do it too?

Are there any financial freepers who could weigh in?


TOPICS: Business/Economy; Foreign Affairs; Miscellaneous; Your Opinion/Questions
KEYWORDS: chat; currency; vanity
Navigation: use the links below to view more comments.
first 1-2021-4041-53 next last

1 posted on 10/05/2009 5:21:31 PM PDT by Chickensoup
[ Post Reply | Private Reply | View Replies]

To: Chickensoup
it's called gold...
2 posted on 10/05/2009 5:23:23 PM PDT by Chode (American Hedonist *DTOM* -ww- I AM JIM THOMPSON!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

There are funds that invest in currencies. Don’t ask me which ones.


3 posted on 10/05/2009 5:24:03 PM PDT by Brilliant
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chode

Besides Gold?


4 posted on 10/05/2009 5:24:07 PM PDT by Chickensoup (Angry about where our country is going with the current regime at the helm.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Chickensoup

Stick to what you know and understand.


5 posted on 10/05/2009 5:24:40 PM PDT by Glenn (Free Venezuela!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

learn about FOREX


6 posted on 10/05/2009 5:24:44 PM PDT by omega4179 (pos approval rating -11)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

everbank.com

You can get worldcurrency CD and world currency index CDs.


7 posted on 10/05/2009 5:25:14 PM PDT by Frantzie (Do we want ACORN running America's health care?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

http://www.ehow.com/how_2063477_invest-foreign-currencies.html

I’m guessing you’d go thru any brokerage firm that handles FOREX trading.


8 posted on 10/05/2009 5:25:32 PM PDT by benjibrowder (For Neda. May God bless those fighting for freedom.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

How much money are you talking about - and what currency are you looking for?

Indeed, I’d be curious, insofar as I can’t think of any currency I’d really want to hold as an alternative to the U.S. dollar in the event of a catastrophic collapse - the Yen, the Euro, the Pound - of the major currencies - are at least as vulnerable as the Dollar (the Euro possibly moreso). The minor stable currencies - the Canadian and Australian dollars, for example, would be adversely effected by anything that happened to the U.S. dollar.

I mean, if you really want Euros - and we’re talking in the thousands or so - I’d withdraw them in cash and put them in a safety deposit box or a safe somewhere. But if you really want hard currency to hedge against the Dollar, I’d say go Gold.


9 posted on 10/05/2009 5:25:49 PM PDT by furquhart (Would it not be easier to dissolve the people and elect another?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Frantzie

I like the Global Power Shift index with 25% weighting ofr Aussie Dollar, Norweg Krone, Brazilian Real and Canadian Dollar.

They all have energy and other resources.


10 posted on 10/05/2009 5:27:40 PM PDT by Frantzie (Do we want ACORN running America's health care?)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Chickensoup

If I understand your question, you should be able to go to any large bank and buy any currency that you want.

Not sure about the limits on each exchange amount nor if you tried to physically take those currencies out of or into another country. I think there is a $10k limit when traveling.


11 posted on 10/05/2009 5:28:02 PM PDT by luckybogey
[ Post Reply | Private Reply | To 1 | View Replies]

To: furquhart

Though, I’d add - that if you’re worried about inflation or currency risk, your better bet would be to hold blue-chip stocks. Look to Zimbabwe for an example of how this works - if inflation runs away, it’ll drive the market up. Sure, your money will all be held in inflated dollars, but it’ll keep inflating all the way up, especially if you hold the right sort of stocks. I’d say, for this sort of scenario - food producers would be a good place to start. Off the top of my head, I’d say that, at this point in time, there will be a Coca-Cola for at least as long as there’s an America.


12 posted on 10/05/2009 5:28:30 PM PDT by furquhart (Would it not be easier to dissolve the people and elect another?)
[ Post Reply | Private Reply | To 9 | View Replies]

To: furquhart

I am not sure how to go. I just want to know how to do my options. I am not sure i can hold gold. And I look at silver that looks more do-able and negotible, but I dont know where to keep it. I have a bank safety deposit box but if banks close I am not sure what would happen to the contents if I kept precious metals there.


13 posted on 10/05/2009 5:28:46 PM PDT by Chickensoup (Angry about where our country is going with the current regime at the helm.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Frantzie

But these are investment funds that use and pay out in dollars. At least this is my understanding


14 posted on 10/05/2009 5:29:36 PM PDT by Chickensoup (Angry about where our country is going with the current regime at the helm.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Chickensoup

It’s easy to deal in currencies in the futures market.

Learn more at http://www.forex.com/land-demo2-gen.html?v=searchactivegen&src=ID.01.01.01.01.1926&gclid=CI3oy4OVp50CFSYoawodj0ytiw&ef_id=1688%3A3%3As_224b91cf4185490ed76b56ce1119415b_3040203221%3ASsqPQtBkAk8AAA1IT7IAAAFA%3A20091006002850

Good luck.


15 posted on 10/05/2009 5:31:01 PM PDT by OldNavyVet
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant

Learn about ETF’s- I intend to


16 posted on 10/05/2009 5:32:34 PM PDT by silverleaf (If we are astroturf, why are the democrats trying to mow us?)
[ Post Reply | Private Reply | To 3 | View Replies]

To: OldNavyVet

but this is currency trading, I was talking about currencies to hold


17 posted on 10/05/2009 5:35:40 PM PDT by Chickensoup (Angry about where our country is going with the current regime at the helm.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: silverleaf

do you mean electronic transers?

Where will you learn this?


18 posted on 10/05/2009 5:36:24 PM PDT by Chickensoup (Angry about where our country is going with the current regime at the helm.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Chickensoup
That's a good question. I often wonder about that. Drudges' headline indicating that the Arabs have been secretly meeting with the Russians, China, France and Japan to stop using US currency for oil trading. I discussed it with my husband and he said this would raise oil stocks but drop the value of the dollar.

At the same time he doesn't think China would want to participate because they would take a big hit for owning so much of our debt. On the other hand China would love to knock us out of the number one slot when we are currently weak and wavering.

The question is what currency would you or should you think of putting some of your dollars in? When the next wave of "All Hell Breaks Loose", what countries will be left standing untouched? I would think every body's economies are affected off of each other, so I really don't know if there is a safe haven.

19 posted on 10/05/2009 5:37:34 PM PDT by classified
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chode

Yupper... it gold alright. My first choice... good flat rich black dirt laying over a recharged aquifer. But what do I know.


20 posted on 10/05/2009 5:38:33 PM PDT by Bubba (There's a revolution a-brewing!)
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-53 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson