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?
Bingo! That’s what we did...about 13 years ago.
“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.”
Until they decide to tax that out of existence too. You know, so those of us with self control can buy healthcare for those with none.
apmex.com
Big Ben should be hearing the siren. Offering little to nothing on CDs and the dollar losing value is a recipe for change. The elderly who rely on interest income are hurting. Basically savers are paying for the Bank Bailouts.
any short-term or long-term gains in the ETFs due to currency moves are taxed at the ordinary rate up to 35%.
Thanks for your insight
Huge Beginner’s Guide to Forex (Foreign Exchange): http://www.babypips.com/
Good forum on Forex trading:
http://www.forexfactory.com/forum.php
This would be a wash for China ,, they lose some on the bonds but they are buying up oilfields/production like crazy (they’re heavy into Irans oil fields and moving into Iraq) ... They would love to stick it to us.
This is VERY bad for us ,,, the article infers that payment for oil will be required to be in a basket of currencies and gold ,, all of those currencies will be strengthened just by being included in the basket while the USDollar drops... If Obama needed any help holding the economy down in recession/depression mode THIS IS IT.
Chikensoup:
Wife and I have about 1/3 of portfolio with Everbank World Markets (St. Louis), the rest in their MM account (paying a dismal 1.65%). We are in Canada funds, but I’d like to have some in Norway (krone) as it is (said to be) a most stable currency in the world but can’t convince my better-half. Aussie and New Zeland is good too. Costs $500. to get in-—the same to get out, pays around 1/2 % int. depending on the $ you invest.
Call Everbank World Mkts. 800 926 4922. Everbank has a NY office,too (888 882-3837) but not for currencies. They do handle gold and can deliver to you one oz to 10 oz. (I think). I’ve been to the Jacksonville office (to hand-deliver a cashiers check) 904 260-6224) since I live in central FL. Jim
Buying junk silver remember a couple of things
$1000 face value is 90% or .715 oz of silver per $1 face value (A Dollar coin, 2 Halfs and so on) . $1000 in face value would give you a lump of coin larger than a football and weight nearly 60 pounds......
Silver is a good buy, as an industrial metal, it is always in demand. The down side is wieght, volume and expense to trade for greenbacks (seniorage).
But a couple of rolls of old dimes just could save your day....
Thanks for the information
You’re asking the wrong people. Fidelity and Scottrade are not in the currency business. They train their reps to teach you how to buy stock funds and hold them or trade stocks and pay the commissions. Beyond that they are useless. I worked there...I know. Google the MERK FUNDS or CURRENCY Trading or FOREX Trading. You’ll hit all you need. It’s not just for the rich....but buyer beware. The dollar is at a 10 month low it will likely rally soon when the fed makes a final push this quarter. Chart UDN you’ll see it.
No- “exchange traded funds”.
I’ll do my own reading- when I have time!
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