Where does one get the best rate, safest harbor, for Euros?

[Gabi Hayes]

Not to mention cheapest handling fees.

Ruble going to Euros did it for me.

been thinking about it for over a year, in which time the $ has gone done, what, twenty percent?

If it's good enough for Russia, Buffett, Gates, I guess it's more than good enough for me.

anybody insane enough to put their money in the stock market now, w/o insider info could use some ECT, IMO.

so, where can I go for some advice on where to move my vast fortune?

das vedanya

[Dogmudgeon]

1. Uh ... Europe?

That's my guess.

--p!
But I'm an idiot. In any language.

[Gabi Hayes]

2. how DARE you dash my hopes of lazily finding out information,

putting forth no effort???!!!?????

[Gabi Hayes]

5. gotta start somewhere; from schwab, as of 12/04

The U.S. dollar has continued its two-plus year decline, pushing to new cyclical lows as U.S. officials have signaled they’re not opposed to an orderly decline in the greenback. Data on foreign investment in U.S. securities shows a declining trend in private investment, but foreign central bank purchases continue to underwrite the U.S. current account deficit. This is likely to continue, in our opinion, as our major trading partners (particularly in Asia) recycle excess savings (due to trade surpluses) and are incentivized to stem the rise in their currencies. >>>>oh, yeah? still think so today?

Nevertheless, we believe the dollar will continue to decline—particularly against the euro—though the timing is difficult to ascertain and it could be a rough ride, as the global imbalances (lopsided trade balances) correct and China potentially moves from pegging the yuan to the dollar to a basket of currencies.

In our view, the overall decline in the dollar will be more additive to European returns compared to that of Japan's, while broadly supporting emerging market returns. Consistent with our expectations for U.S. equities to advance further and growth in China to continue at a solid pace, we recommend an overweight allocation to emerging markets

[amazona]

3. do you live in the U.S. ?

Then you will off the top lose in transaction fees. Not to mention that you are buying after the boat has already sailed and the dollar already crashed.

The goal of investors is to buy low, sell high. Not to buy at the very height of the dollar vs. the euro.

What an entity the size of Russia or Bill Gates can afford to do has nothing to do with what you can afford to do.

Most amateurs who play the currency game lose. I've heard the claim that 90 percent are losers. You wouldn't expect to take the basketball court against Michael Jordan but you expect to play on a level field with those who have insider knowledge of currency trading, which is an extremely specialized area of investment?

I don't mean to be so negative, but I think this plan to be madness.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Gabi Hayes]

6. point I was trying to make is that, do people believe the dollar will

continue its decline?

apparently you don't; why not?

Paul Krugman, among others, does

doesn't Greenspan, as well? as I said in header, I'm well aware of the decline, but wonder if it's too late to get on the bandwagon, and make a few percent over what one would make in banks/money funds/bonds, etc

I'm not quite as stupid as my original post makes you think I am; close, but not all the way there

I also am curious, as you mentioned, about the fee load, which sounds as if it's onerous for those of us here in the US

someplace I can go to educate myself on this?

thx

[Squeech]

8. I agree with you

I don't think the euro has peaked, I think dollar has further to fall.

I don't know how to do a pure play in euros, however. My strategery so far is to invest my 401k money in an international stock fund, in hopes that the stronger currencies give me better returns than I can get in the US market.

And I have a place to stay in Brazil if I need it.

[Gabi Hayes]

11. got room for an air mattress/sleeping bag?

I have Sirius; we can get Air America there

it even gets Tierra del Fuego!

[amazona]

29. don't think you're stupid, it takes a smart person to lose money this way

I have sometimes entertained a theory that the more a person educates herself about finance, the more she trades, and the more she trades, the more she churns, and the more she churns, the more gets eaten up by transaction fees. At the end of the day, the old people I know who have done best in getting the money and then keeping it for decades got it by investing in either real estate or T-bills/CDs.

I think the dollar is limited in how much further it can decline because it's too low already and it is interfering with international trade between the U.S. and European Union because Americans have to cut back or cut out on EU products. Just about everyone has switched to Australian wine by now, for one example. The French are not happy. If only for the sake of diplomacy, at some point, Caligula is going to have to let up on the soft dollar policy. I don't think a cold war with the EU is in anyone's interest, and I would hope that even the chimpster's advisors might see that after awhile.

I am not necessarily a believer in the momentum theory of investing. Most people believe that an investment will tend to continue to do what it is already doing. The dollar is falling, so it will keep falling. Well, maybe it will, maybe it won't. Momentum investing sure didn't help me when buying stock or metals, so I don't feel it will help me when buying currency. Your mileage may vary.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Gabi Hayes]

30. excellent points; sound logic

how bout joementum investing; his stock's pretty high right now

you've hit the crux of the issue, though, as regards investing

unless you're like Martha Stewart's bud (and lookie what happened to him....had he held on, honestly, he'd have made bick bux!), or BUSHIT, investing is just a gussied up word for gambling.

nobody can tell the future

get me a time machine, then I'll feel a bit more comfy

[BernieBear]

38. Foreign Currency easy to hold and do well on

The dollar has gone back up giving new Euro buyers a good entry point. The foreign currency market that you refer too where amateurs often lose money is the "Forex" or Foreign Exchange Market. This is like "day trading" currencies with a leverage of 10 to 1. Losing all one's money is common. However, purchasing foreign currency is a totally different ball park. An easy way is open an account at www.everbank.com and then pick your currency to hold your dollars in - or choose a guaranteed CD in a foreign currency. The transactiion cost is 3/4 of 1%. Good luck. BB

[Gabi Hayes]

39. thanks, BB...this is beginning to make sense

I is BB in real life, btw

[Robbien]

4. Are you sure you want to buy Euros

or Invest in Euros. I believe you want to invest, right?

[Gabi Hayes]

7. invest, I guess, as the other would mean buying a bunch and

putting them under my mattress?

[Robbien]

10. Okay,

Since you are a novice and are looking for safety, the only bank in the US which sells Euro CD's and money accounts for non-Bill Gates type people is EverBank.

Take a look around their site, they have a lot of information. Read it all. Do not jump in blindly please. Take your time and evaluate.

There are riskier options, but I will refer you to your broker if you are going for risk.

www.everbank.com

[amazona]

27. everbank

I wasn't going to advise anyone to invest in foreign currency but if they are going to do it anyway, then the rumor I've heard is that the New Zealand CD is the way to go.

Don't ask me why.

Currency speculation is a bit too advanced for my blood.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Gabi Hayes]

28. why?

had to

[amazona]

33. gabi I don't remember why

Probably means I didn't understand the reasoning in the first place. Several people I know are buying the New Zealand CDs from everbank, but I honestly honestly do not know why they think this is a good play. I might just be blocking because I am trying to resist going with the thundering herd on this occasion. :-)

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[Ian David]

14. My guess is they're looking for a safe place to keep their money

If the dollar eventually crashes catastrophically, it would be nice to have something you can use to buy food.

Can you buy something like Travelers Checks backed by Euros?

[Gabi Hayes]

17. my guess is that if $ crashes maximally, the world economy will

be very badly affected as well, so I wonder what investments will be safe



know any lephrechauns?

[Robbien]

22. Did you see

my post #10? Best bet is to take look around the link.

The CD's start at $10,000.

[Gabi Hayes]

23. yeah, but my head is spinning at all this

it does sound the most sensible, and I should switch my laying around in money fund cash to something I can let sit for awhile, and watch the entire US economy collapse.

thanks for the advice; will check that out

[Robbien]

20. Really the best bet is the Euro CD

through EverBank. Travelers checks are just money sitting around doing nothing and not even earning minimal interest.

[cyclezealot]

9. Some of the largest banks have international cd's.?

Instantly converts to Euros...All international transactions are a gamble...Some economists think the US dollar could drop another .25 cents against the euro...Chance the dollar could rebound ten cents..They you might loose...I doubt it...
Fund I checked out with a large west coast bank..Euroe cd's. pay 2.5 % return on six months..The money is exchanged in Caymen...Not subject to FDIC...Minimum exchange is $250 K...
Your exchange there is in the hands of the bank we choose...that band has a large investment portfolio....But Caymen has not regulations...Laissez faire banking..Do you trust your chosen bank...The funds are supposedly not exchanged to third parties.] There are many European banks in New York...Need check out their investment/savings opportunities before utilizing a US bank...

[Gabi Hayes]

13. as in 250 THOUSand $$$?

guess I could sell my house......

and only 5% per year on the others

doesn't sound like such a hot play

I knew I should have jumped awhile ago, knowing what these crooks would continue to do to the economy

thanks for the info so far, though

and last time I had a real 'broker,' he made me unimaginably broker than I was before I started listening to him

[cyclezealot]

18. yes...250 k..

Our reason for the search..We have sold our home and our plans to convert enough before any more crashes..Will need the money to retire in the south of France..

[Gabi Hayes]

21. funny you should mention that....I guy I know has a winery in WVa

and has bought a house in France, prefatory to buying a vineyard there. he's got a 'partner,' who has to be the titular owner.

I may be staying there this summer. it's not in the south, though I'll be spending lots of time there, if I go.

ever read Durrell's book on Provence?

[cyclezealot]

34. We will be not too far from Provence..

Our area will be Roussillon...Just north of the Spanish border on the Mediterranean...Far less expensive than Provence...Provence is awesome...
Was the book, "My year in Provence." Have to find the book...Forget the author....If so, we have it...Have been on a bike tour of inland Provence...lavender fields galore..Area about Mt. Ventoux. Drive down to Barcelona next Winter, you will be at our doorstep if things go as planned.

[cyclezealot]

40. Works for us because by years' end

all our daily transactions will be in euros. If we had jumped earlier we could have purchased a home in Roussillon for about $100,000..Now it is about $150.000...A bargain compared to California.

[Gabi Hayes]

41. ou est Rousillon?

that's what I was talking about: fifty percent increase.

what time period?

[cyclezealot]

42. when the dollar bought you about 1.2 euros.

We could always downsize the house of our dreams..?still a pittance of California prices.tho.

[Nite Owl]

12. No saying where or when

the dollar will go. Everbank.com had cd's in Euros and other currencies. Right now the best of the play may be over though and the dollar may go up before it goes down again. The problem with the decline of the dollar will be inflationary so investing in TIPS (inflation protected treasuries) might be one good strategy. There's a fund, VIPSX which is good but there are others too.

[Gabi Hayes]

15. well, there's always gold, but that boat has already sailed, as well

thought about buying that at ~270, but after previous experiences, am loathe to pull trigger on just about anything

[Ian David]

16. I thought treasury bonds were being used to finance the war?

If I'm going to invest someplace safe, I want it to be someplace that doesn't feed the war machine.

[Gabi Hayes]

19. how much for a chunk of Carlyle?

remember what one of their big wheels had to say about * before he became political?

too funny on that one

I"ll see if I can find it....lots of threads on it here

[Gabi Hayes]

24. OK for now....this is making me nervous...time for some medicine

and watching the Ali G 1st season DVD

too much stress

[roguevalley]

25. Gabi, are those Hieronymous Bosch creatures? Interesting. :)

[Gabi Hayes]

26. mais oui...check it out

http://www.arcana-arcana.com/acatalog/Jheronimus_Bosch.html

maybe I should invest in these....much more fun than Hummels

[Sgent]

31. Any broker

such as Schwab, Fidelity, etc. should be able to sell you EU CD's or Government bonds.

[Gabi Hayes]

32. I know, thx....I have a couple discount brokers.....just haven't bothered

to call em yet

was going to call schwab today, but can't recall the number...used to have it memorized; too lazy to go over to the desk

800 435 4000....that might be it

don't feel like it now

[grasswire]

35. Did Bosch ever make a pug creature? (eom)

[Gabi Hayes]

36. I knew it; HA! I think this is a detail from the right wing

of the Garden triptych

[grasswire]

37. hahahaha!

What a mug of a pug.