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10-04-2008, 07:43 AM
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Destroyer of Limbaugh Loonies & F#x Fools
Status:
"Bring the Bush/Cheney war criminals to justice!"
(set 21 days ago)
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Join Date: Oct 2006
Location: Capitalism is Cancer
1,453 posts, read 908,522 times
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strong currency?
I want to open an acct at Everbank in a foreign currency. Any thoughts on which one is likely to be strongest in the near future? I'm thinking Swiss, Canada, Yen.
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10-04-2008, 08:39 AM
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Senior Member
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Join Date: Dec 2007
Location: Albemarle, NC
7,576 posts, read 3,377,278 times
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Japan has its own mess. I would recommend the Loony. They've got oil, gold, and diamonds coming out of the ground now. And have been running a government surplus for a while.
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10-04-2008, 08:55 AM
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We really do surround them if we STAND UP!
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Join Date: May 2007
Location: Glacier Park area
5,367 posts, read 3,549,974 times
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Quote:
Originally Posted by paperhouse
Japan has its own mess. I would recommend the Loony. They've got oil, gold, and diamonds coming out of the ground now. And have been running a government surplus for a while.
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Besides the money looks nice!  |
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10-04-2008, 08:59 AM
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Senior Member
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Join Date: Jun 2008
638 posts, read 317,886 times
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Unfortunately Canada is tied too tightly to the US so I don't see great appreciation in loony. We better hope not. Something like 80% of their exports come right here and the inflation would be a killer.
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10-04-2008, 09:26 AM
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Senior Member
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Join Date: Sep 2006
2,224 posts, read 1,706,257 times
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So far the yen has proven to be the most stable.
To be sure, Japan has an aging population problem that rivals or surpasses that of Europe and the United States.
The bet is whether Japan will hold up better because of it links to Asia than Canada because of its commodities or Swiss because of its links to the EU and its safe-haven status.
Of all these, I like the yen the best, but consider very carefully the costs of maintaining such an account.
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10-05-2008, 08:38 AM
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Senior Member
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Join Date: Jun 2008
638 posts, read 317,886 times
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I read today that Canada is worried because their tar sand oil has a cost of production between $90 and $100. Prolonged recession keeps prices down and the oil becomes not worth the price of recovery.
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10-05-2008, 02:23 PM
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Senior Member
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Join Date: Nov 2007
Location: Ohio
1,909 posts, read 1,034,228 times
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Quote:
Originally Posted by jimmyP
I read today that Canada is worried because their tar sand oil has a cost of production between $90 and $100. Prolonged recession keeps prices down and the oil becomes not worth the price of recovery.
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That's bizarre because it never sold for more than $104/barrel, and some of the crappy stuff never sold for more than $94/barrel, and that was when oil prices peaked at $147/barrel for WTI. |
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10-05-2008, 02:30 PM
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INFP
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Join Date: Sep 2007
Location: Winnipeg/Austin
382 posts, read 467,807 times
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As long as oil stays pricey, the Norwegian Krone should stay strong.
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10-05-2008, 07:20 PM
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Senior Member
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Join Date: Nov 2007
Location: Ohio
1,909 posts, read 1,034,228 times
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Quote:
Originally Posted by lndigo
As long as oil stays pricey, the Norwegian Krone should stay strong.
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Go Norway! Go Norway! Go Norway!
Just wait until $1 = 10 Rubles. Y'all gonna love that. Won't be long now. |
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10-05-2008, 08:25 PM
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clear the way!
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Join Date: Jan 2007
1,682 posts, read 1,152,544 times
Reputation: 451
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Quote:
Originally Posted by geos
I want to open an acct at Everbank in a foreign currency. Any thoughts on which one is likely to be strongest in the near future? I'm thinking Swiss, Canada, Yen.
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Unsure right now......think the Swiss Frank is safe. Yen? Well from what I was hearing a couple of weeks ago. Even though the Japanese economy is weak they do have a very good saving rate and seem to have the extra cash right now to spend if they desired. I think it is possible that it may gain strength against the dollar.
Here's a question for those of you out there. What do you think of the Brazilian real 2 years out? |
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