How do I get out of the dollar?

[shaunish]

I am asking this question, since everybody talks about it - but the only answers I ever see are "invest in gold - ampex.com"

I am looking to short the US dollar and make $ on its fall. Is this possible? what websites are good for trading currencies?

I mean, I could go to the currency exchange at the bank or airport and change my savings over to another currency, but I am thinking there is a much better, more efficient way of doing it. Online bank accounts? something? help?

Thank you, I really appreciate it. Somebody should write a tutorial or something on 'securing your assets' and post it as a sticky in here.

 

[torchbearer]

invest in european utilities was the advice from EuroPacific.

 

[Bradley in DC]

Everbank.com offers foreign currency-denominated accounts.

 

[brandon]

invest in european utilities was the advice from EuroPacific.

Good advice. Schiff has yet to be wrong.

 

[OptionsTrader]

Fund a trading account like scottrade or what have you and look into currencyshares ETFs as an easy way to sell the dollar and buy other currencies. I keep my cash in FXE or FXY when not trading usually.

http://www.currencyshares.com/home/overview.rails

 

[bander87]

Store everything with the swiss yo.

 

[shaunish]

thank you people!

does anybody do forex trading? i understand currencies but do not know where to start.

 

[Fox McCloud]

I know this is a stereotypical answer, but I'm going to say it anyway

invest in bullion, PHYSICAL bullion (as I've often heard "If you can't touch it, you don't own it")....I'll admit I'm one of those 'loons' who thinks the US is going to blow itself apart in less than a year, though.

silver, regardless, is an amazing deal; it's going for just under $20, when, in reality, it should be going for around $60+.

 

[jonahtrainer]

I mean, I could go to the currency exchange at the bank or airport and change my savings over to another currency, but I am thinking there is a much better, more efficient way of doing it. Online bank accounts? something? help?

Thank you, I really appreciate it. Somebody should write a tutorial or something on 'securing your assets' and post it as a sticky in here.

I assume you want answers for cash balances and not investments. GoldMoney is perhaps the most efficient route for cash balances (gold, silver, US$, CAD$, EURO, Pound).

 

[buffalokid777]

I am asking this question, since everybody talks about it - but the only answers I ever see are "invest in gold - ampex.com"

I am looking to short the US dollar and make $ on its fall. Is this possible? what websites are good for trading currencies?

I mean, I could go to the currency exchange at the bank or airport and change my savings over to another currency, but I am thinking there is a much better, more efficient way of doing it. Online bank accounts? something? help?

Thank you, I really appreciate it. Somebody should write a tutorial or something on 'securing your assets' and post it as a sticky in here.

I have to go like the others on this thread with

www.europac.net

Peter Schiff is a guy who really knows his stuff and europac has over a billion in accounts.....

Go check them out for a consulatation.....I can't think of a better company to handle your investments....

Schiff even has a radio show on wednesdays at 8pm est which you can listen to online from the europac website......You can actually talk to the CEO at that time by calling in.....definately check out euro pacific capital.....

Might be the best move you ever made in terms of finances.......

 

[DFF]

thank you people!

does anybody do forex trading? i understand currencies but do not know where to start.

www.forex.com

They offer training in foreign currencies and $50,000 worth of "Monopoly Money" to use in a practice account.

Be warned though -- the Forex Market is HIGH RISK; HIGH REWARD.

From what I've gathered, it's more complicated than any of the other markets.

So unless you really know what you're doing, it seems you can lose your ass on the Forex in double quick time.

 

[DFF]

Store everything with the swiss yo.

Ahh..the Swiss Franc. The most stable currency in the world.

 

[DFF]

Fund a trading account like scottrade or what have you and look into currencyshares ETFs as an easy way to sell the dollar and buy other currencies. I keep my cash in FXE or FXY when not trading usually.

http://www.currencyshares.com/home/overview.rails

So if you invested in the Euro Trust, depending on how much you invested, will determine "X" number of Euros you own?

It's kind of confusing since I've never associated the word "shares" with a foreign currency.

I've always associated it with stocks, commodities, etc.

The word "Trust" is confusing as well.

Perhaps you could un-confuse me, by explaining in ultra-lamens terms, exactly how this outfit works?

 

[rapidtrends]

Ahh..the Swiss Franc. The most stable currency in the world.

Actually, that title would go to gold.