1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Safest currency

Discussion in 'BlackHat Lounge' started by juggalomc, Sep 30, 2008.

  1. juggalomc

    juggalomc Junior Member

    Joined:
    Jul 28, 2008
    Messages:
    121
    Likes Received:
    36
    Hi,
    In times of changing economics- how do You think what is the safest currency? Is euro safe?
     
  2. niwoad

    niwoad Newbie

    Joined:
    Sep 17, 2008
    Messages:
    5
    Likes Received:
    0
    id probably say euro
    defo not usd or pound sterling
     
  3. billu512

    billu512 Power Member

    Joined:
    Aug 17, 2008
    Messages:
    510
    Likes Received:
    154
    Occupation:
    Weedism
    Location:
    Prison
    I Think Dinar. ;)
     
    • Thanks Thanks x 2
  4. tanya7zhou

    tanya7zhou Jr. VIP Jr. VIP Premium Member

    Joined:
    Jul 22, 2008
    Messages:
    276
    Likes Received:
    63
    Occupation:
    Internet Consultant
    Location:
    Great Britain
    With USA owing China so much money, i don't know if the US dollar will come back to form. I believe the Euro is gaining strentgh slowly and quietly.

    Euro seems to rule the world in the future. The revival of the old Roman Empire
     
  5. Zak_A

    Zak_A Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 16, 2008
    Messages:
    808
    Likes Received:
    873
    Gender:
    Male
    Occupation:
    WP designer & developer
    Location:
    Western Europe
    I second that the Euro is the surest currency for the future.

    Since it has been created, it has always been strong and stable, gaining strentgh slowly year after year.
    You may be convinced of that by seeing the way the ECB (European Central Bank), european governments and european banks are rulling european economy : quietly, slowly and wisely.

    Contrary to the US, europe don't run for maximum and quickest profits (which eventually leads to a sure downturn one day or another, you can currently get proofs of this in your daily newspaper's headlines), but it rather use a strategy of growing more slowly but in a safe and sure manner.
     
  6. anon7

    anon7 Newbie

    Joined:
    May 4, 2007
    Messages:
    38
    Likes Received:
    58
    The Euro would be my bet too. And expanding on tanya7zhou's comment about the USA owing China so much money, maybe that makes the Chinese Yuan a pretty decent pick too. :p
     
  7. Zak_A

    Zak_A Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 16, 2008
    Messages:
    808
    Likes Received:
    873
    Gender:
    Male
    Occupation:
    WP designer & developer
    Location:
    Western Europe
    I don't really think so. The Yuan is worth next to nothing, as China doesn't really seem to give a **** about it.
    A you both said, China owns an amazing bunch of US' money, and as when they started to grow the dollar was still a good bet, the decided to use it in every big deals.
     
  8. voxclan

    voxclan Regular Member

    Joined:
    Feb 11, 2008
    Messages:
    267
    Likes Received:
    274
    wheat - rice -water and ammo

    of sh*t, I think read too much Ga*y No*th
     
  9. almir

    almir Power Member

    Joined:
    Jul 11, 2008
    Messages:
    728
    Likes Received:
    229
    Swiss Frank is most stable currency ever. You won't earn much trading it with Forex Killer, but if you keep your money in it, it's almost impossible to loose on devaluating
     
  10. sugarpimp

    sugarpimp Registered Member

    Joined:
    Jul 17, 2008
    Messages:
    60
    Likes Received:
    54
    Location:
    Virtual World
    I also think that Euro or GBP is one of the safest currency in this world now, China has really huge issues with inflation and price rates, if you would look for example how much meat jumped up (over 60% and more price rising than last year), you dont want to have Yuan;)
    Also I think that China will have serious sideaffects of the current situation on the US market and last but dont least, I would not rely on the chinese government, who control the whole financial market.
     
  11. almir

    almir Power Member

    Joined:
    Jul 11, 2008
    Messages:
    728
    Likes Received:
    229
    They control it pretty good for some time, don't you think ? I don't remember they had any problems like USA has these days for long time
     
  12. anon7

    anon7 Newbie

    Joined:
    May 4, 2007
    Messages:
    38
    Likes Received:
    58
    I saw a spot on CNN last week where the news anchor made a comment relating to the government take over of major banks & AIG, saying that the U.S. is looking more like China (State owned banks, etc.) and China is looking more like the way the U.S. should be looking... pretty sad.
     
    Last edited: Sep 30, 2008
  13. DeadEyesOpened

    DeadEyesOpened Junior Member

    Joined:
    May 24, 2008
    Messages:
    150
    Likes Received:
    69
    Location:
    Brisbane Australia
    Only two mediums of exchange never devalue in the long term. Gold & Real Estate.

    Forget currency, inflation erodes your returns.
     
  14. Uptownbulker

    Uptownbulker BANNED BANNED

    Joined:
    Oct 21, 2007
    Messages:
    960
    Likes Received:
    477
    Well, one thing for sure; everyone wants to do business in the USA but we use dollars here, not Euros and we're not going to, so you'd better get used to it!
     
  15. soctal

    soctal Regular Member

    Joined:
    Jul 28, 2008
    Messages:
    243
    Likes Received:
    76
    The euro? i have heard that the euro will crash not long after the dollar and some european countries are trying to leave EU.

    i think perhaps housing stock has lost value, but actual land is always a good investment.


     
    Last edited: Sep 30, 2008
  16. Zak_A

    Zak_A Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 16, 2008
    Messages:
    808
    Likes Received:
    873
    Gender:
    Male
    Occupation:
    WP designer & developer
    Location:
    Western Europe
    I'd forget about real estate seeing the situation in the western world since last summer... Only gold stays the surest way to avoid devaluation.

    I think what you've heard was bullsh**. No european country wants to leave the EU, and some more countries still want to join. And the crisis in america have reached europe already and the consequences have already been overcome.
     
    Last edited: Sep 30, 2008
  17. caretaker2007

    caretaker2007 Power Member

    Joined:
    Dec 20, 2007
    Messages:
    720
    Likes Received:
    454
    Occupation:
    To create income streams
    Location:
    In a 6 by 3 plot
    Home Page:
    The thing about gold is that it isn't much different than any currency, other than it is shiny. They keep producing, a touch over 2,400 metric tons per year. If people truly considered this wouldn't they lose faith in it being a 'stable' monetary platform?

    The mass media could cause a sever price drop if they put the production spin in the spot light. The only value gold, or any metals and minerals, has is only what any one person perceives it to be.

    How is gold, considering production is ongoing, any different than tulip bulbs?
     
  18. BozoClown

    BozoClown Junior Member

    Joined:
    Jan 4, 2009
    Messages:
    150
    Likes Received:
    106
    The idea that gold doesn't lose value over the long run is nothing but a myth.

    Look at the gold charts for the past 50 years and reconcile them with the corresponding inflation rates. You will notice that it does lose value. The gain in value of a gold nugget over the period of 2 years or greater has never exceeded the increase in inflation.

    Gold is not independent of market forces, when a new significant gold mine is found somewhere in the world, the global price decreases.

    What historical data tells us about investing in gold is this, your value will depreciate albeit less than any other management-free commodity you could ever choose to lay your investments.
     
  19. themagician

    themagician Regular Member

    Joined:
    Mar 25, 2008
    Messages:
    221
    Likes Received:
    1,084
    Location:
    Brit in Thailand
    '...Gold!

    Here in Thailand gold is still used as a form of currency as it is sold by weight, regardless of what fancy design it has been turned into.

    When girls have money they purchase gold which is 96.5% pure here. Later, if backed into a tight financial corner they can take the item into any gold dealer, of which there are many in any main street, and get paid out on the weight. They often do this with gifts given to them by foreign boyfriends. The same with mobile phones.

    Failing that, definitely the Euro, which will not be allowed to fail.

    I remember living in Spain when the Euro was introduced and everyone argued it was a flash-in-the-pan, expecting it to fail and return to the original currency. People can be so stupid.

    When I sold my property I had two-thirds of the money in Euros and one-third paid in Sterling. The Sterling was spent purchasing a new home and the Euros are off-shore earning enough interest for us both to live off without ever lifting a finger. Financial crisis! What financial crisis? It cannot affect you if you are cash-rich. Cash is king, especially when there is a downturn.

    Work smarter - not harder!

    themagician
     
  20. almir

    almir Power Member

    Joined:
    Jul 11, 2008
    Messages:
    728
    Likes Received:
    229
    I guess nobody hasn't read this :D

    Anyone remember any problems with CHF ever ? ;)