Discussion in 'BlackHat Lounge' started by juggalomc, Sep 30, 2008.
In times of changing economics- how do You think what is the safest currency? Is euro safe?
id probably say euro
defo not usd or pound sterling
I Think Dinar.
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
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.
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.
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.
wheat - rice -water and ammo
of sh*t, I think read too much Ga*y No*th
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
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.
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
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.
Only two mediums of exchange never devalue in the long term. Gold & Real Estate.
Forget currency, inflation erodes your returns.
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!
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.
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.
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?
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.
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!
I guess nobody hasn't read this
Anyone remember any problems with CHF ever ?
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