lippy 771 #1 September 30, 2008 I'm Canadian but I live in South America and I get paid in US. With all this talk of the US economy crashing, I'm wondering if it's time to take my money elsewhere before it's not worth shite. Any thoughts or recommendations on where to put it?I got nuthin Quote Share this post Link to post Share on other sites
Squeak 17 #2 September 30, 2008 everywhere seems to be hurting, i think asia (Japan) might be the only place doing okYou are not now, nor will you ever be, good enough to not die in this sport (Sparky) My Life ROCKS! How's yours doing? Quote Share this post Link to post Share on other sites
skyjumpenfool 2 #3 September 30, 2008 First of all, your money is probly already worth Shit! Secondly, if our economy gets any worse, it'll take out most of the worlds economies as well. And finally, why don't you just spend it jumping. That, at least the last time I looked, still has value!Birdshit & Fools Productions "Son, only two things fall from the sky." Quote Share this post Link to post Share on other sites
Butters 0 #4 September 30, 2008 If the U.S.A. economy crashes it's likely (according to history) that every economy will crash."That looks dangerous." Leopold Stotch Quote Share this post Link to post Share on other sites
cocheese 0 #5 September 30, 2008 Buy South American drugs and sell them in the US and Canada? Quote Share this post Link to post Share on other sites
lippy 771 #6 September 30, 2008 Unfortunately my work doesn't give me a lot of time for jumping, and since my boss found out all of the excess baggage charges on my expense reports were due to me lugging my rig all over South America with me he stopped signing off on them I got nuthin Quote Share this post Link to post Share on other sites
shropshire 0 #7 September 30, 2008 Quote Buy South American drugs and sell them in the US and Canada? Great minds (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
npgraphicdesign 2 #8 September 30, 2008 Quote Buy South American drugs and sell them in the US and Canada? Ahhh...Canadian grass...a$$holes! Bonus points if you can identify that quote... Quote Share this post Link to post Share on other sites
bigway 4 #9 September 30, 2008 actually no. What you should do right now as the usd is stronger than ever today, over the last five hours it has gone up against the gbp. You should contact HIFX and open an account with them and put your savings in to their bank. Then buy gbp with it. Keep it in their account until the usd gbp goes back up and them buy usd. The gbp on Thursday was worth 1.86 usd Five hours ago it was worth 1.80. Just now it is worth 1.77 I have a shot Load of money in their as Gbp waiting for it to go back to around 1.85 ad wollthen buy usd. Once the nail out has been announced it will go back to around 1.90. The usd is gettig stronger against all currencies while this bail out is not looking so good The reason I know this is because I have been monitoring this every 30 minutes for the past month. I have thirty thousand that I am waiting to exchange so my post is dead serious. It will drop slot more before Thursday and then on Friday will be more stable depending if re bailout is passed. It has to be passed or the world is stuffed. If by Friday it is not passed I will bite the bullet. I just wish I was in your shoes and had I the otherway round where I would instead have usd and be able to right now buy gbp and then change it back when the usd gets weaker. Most people probably think all this going on makes the usd weaker but it is actually making it very strong. It has not been this strong in two years. .Karnage Krew Gear Store . Quote Share this post Link to post Share on other sites
Andy9o8 0 #10 September 30, 2008 No. If your account balance is under $100K, it's protected by the FDIC. Quote Share this post Link to post Share on other sites
lippy 771 #11 September 30, 2008 Right, I'm not worried that I won't have my money, I'm just worried that it will lose value in comparison to other currencies. Bigway, thanks for the suggestion I'm going to do some research on that.I got nuthin Quote Share this post Link to post Share on other sites
Andy9o8 0 #12 September 30, 2008 QuoteRight, I'm not worried that I won't have my money, I'm just worried that it will lose value in comparison to other currencies. Bigway, thanks for the suggestion I'm going to do some research on that. Well, the US Dollar may fluctuate a bit relative to other currencies, but in the long run it's still one of the most stable, powerful currencies in the world. And as said up-thread, when the US economy sneezes, the world economy gets a chill. Oh, and don't listen to bigway. Fucker just wants you to bolster the value of the gbp's he's got stashed in his mattress. Take care of your USD instead. Quote Share this post Link to post Share on other sites
bigway 4 #13 September 30, 2008 I wish I had USD and wanted GBP. Anyway, HIFX is who i use to get a better conversion rate when paying my gear manufacturer orders. They hold your money in a trust and sell you other currencies at around 1 cent different (ex GBP/USD) from the market rate, alot better compared to the banks. I would not get in a habit of trying to make money out of this as it is the most risliest situation if you fall into that area. But if you just want to put your money ssafe somewhere for as long as you want, i would buy GBP with them now and leave the money in that account for as many years as you like at no charge and then buy USD back again when the pound is stronger against the USD. Not only will you make a nice amount of cash you will also have it kept safe. For example, right now 10,000gbp is 17,770USD. Last week it would have been $18,600 usd. at some point it will go back to $20,000 USD. I am only waiting till it goes back to $18,200 usd. If you do this, only do it once, cause doing it now would make you money over the next couple of weeks. That is a given considering the politicians are coming back with a change on the bailout tomorrow as they are up for reollection and need to save the world. I reakon they only denied it so they could make themselves look good when they agree to it.. you know, panick americans even more and then look like heroes. So if you make money, dont get greedy and then try to doo it again as then you are going to more than likely lose money. It is not every day you get a chance like this to know that when this bailout gets passed that other currencies will restore some value. You got to realise, banks all over the world have vested interest in the USD and the entire world needs the bailout. America wants to save the world, they know if they dont come up with a bailout that they will be doing more damage to the world than bin laden ever has. You can even put your money in the account and not do anything with it. It costs about $10 a transaction. If the GBP?USD changes by 10 cents (it has dropped 30cents in 2 months) you will make $1000 USD for every 10,000gbp. So change your USD to GBP with them now and then in a week change it back and make a shit load of money but thats it. Then keep it in their account or open an offshore account and have them wire it there for you. .Karnage Krew Gear Store . Quote Share this post Link to post Share on other sites
LuckyMcSwervy 0 #14 October 1, 2008 Quote Quote Buy South American drugs and sell them in the US and Canada? Ahhh...Canadian grass...a$$holes! Bonus points if you can identify that quote... Uhhhh, meow.... Super Troopers, chickenfucker!!Always be kinder than you feel. Quote Share this post Link to post Share on other sites
futuredivot 0 #15 October 1, 2008 Convert to gold, ship it to me and I'll bury it in the yard You are only as strong as the prey you devour Quote Share this post Link to post Share on other sites
yarpos 4 #16 October 1, 2008 yes...gold and swiss francsregards, Steve the older I get...the better I was Quote Share this post Link to post Share on other sites
futuredivot 0 #17 October 1, 2008 You forgot the "ship it to me" ppart. That was the most importantYou are only as strong as the prey you devour Quote Share this post Link to post Share on other sites
Bmore_chrissy 0 #18 October 1, 2008 You didn't say where you're money is in the US (asset type-wise), which makes a difference. Unless you have over the FDIC-insured amount, and you believe that the US economy is going to permantly collapse - ever heard of 'buy low-sell high?' Why would you take your money out when the market is very low? Keep it diversified (probably in non-financials for now) and you'll be fine. Otherwise, you're just another person yanking their money out drive the markets lower. Quote Share this post Link to post Share on other sites
Misternatural 0 #19 October 1, 2008 lil by lil everyone seems to be chilling out, we'll get a turn around in '09 if we all keep our itchy fingers off the big red shiny irresistible candy like PANIC BUTTON!! I like stocks right now....and pie. Beware of the collateralizing and monetization of your desires. D S #3.1415 Quote Share this post Link to post Share on other sites
yarpos 4 #20 October 10, 2008 thanks for the thought but I have sufficient thank you, just trying to help others.....given recent events since that post I stand by my suggestionregards, Steve the older I get...the better I was Quote Share this post Link to post Share on other sites
SuFantasma 0 #21 October 10, 2008 Quote Quote Buy South American drugs and sell them in the US and Canada? Great minds DON'T ! The US Government hates competition and the CIA has enough stash to pay the national debt (shhhhh....it's supposed to be a secret!)Y yo, pa' vivir con miedo, prefiero morir sonriendo, con el recuerdo vivo". - Ruben Blades, "Adan Garcia" Quote Share this post Link to post Share on other sites
