The US dollar is now in a free-fall. The M3 data shows inflation at 15% and a GDP of less than 1%. This inflation rate is increasing rapidly and is showing no signs of declining.
I am looking to get entirely out of US dollars. I would like to open an offshore account so that I can move everything into yen, Swiss francs, and yuan and trade my account like a regular brokerage account -- buying stocks, ETFs, CEFs, etc. on the US exchanges as well as foreign exchanges.
Any ideas?
I am also interested in working with an overseas broker that I can open an account with, who will allow me to trade a "multicurrency sandwich."
HSBC bank in Singapore allows Americans to open a multicurrency account that will let you move all your US dollars into up to 9 other currencies. The Hong Kong HSBC branch will let you move into Chinese yuan. You do not have to be present to open these accounts, although you will likely need help from the Buffalo NY branch of HSBC to communicate with these foreign branches properly.
I am willing to share more information such as this if others can answer my initial questions about offshore accounts and multicurrency sandiwches. Please post web links or post phone numbers/email address.
Thanks in advance!
I am looking to get entirely out of US dollars. I would like to open an offshore account so that I can move everything into yen, Swiss francs, and yuan and trade my account like a regular brokerage account -- buying stocks, ETFs, CEFs, etc. on the US exchanges as well as foreign exchanges.
Any ideas?
I am also interested in working with an overseas broker that I can open an account with, who will allow me to trade a "multicurrency sandwich."
HSBC bank in Singapore allows Americans to open a multicurrency account that will let you move all your US dollars into up to 9 other currencies. The Hong Kong HSBC branch will let you move into Chinese yuan. You do not have to be present to open these accounts, although you will likely need help from the Buffalo NY branch of HSBC to communicate with these foreign branches properly.
I am willing to share more information such as this if others can answer my initial questions about offshore accounts and multicurrency sandiwches. Please post web links or post phone numbers/email address.
Thanks in advance!
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Re: Exiting US dollars -- offshore accounts, multicurrency accounts, yen, francs, yuan, gold, etc.
Thu, February 7, 2008 - 11:04 PMThe yuan is pegged to the US dollar so no sense in investing there. Helps keep us full of cheap crap here stateside.
If they do let the yuan free, could be a good play.
I can't see any reason to covert to anything but Euro's. But seeing what the Loonies are doing up there in Canada has got me thinking. From a long term perspective, the Canadian dollar could bo a good bet when this global warming thing blows up.