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sash777

£32k sat in my current account...

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http://www.thomasexchangeglobal.co.uk/ These guys are pretty good.

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In keeping with the mantra of "go physical", I guess you could buy some at the airport. Which is what I plan to do on my next trip. Though I have heard Yuan is difficult to buy outside China. Theoretically, I think diversifying in the strongest currencies is the way to go... trouble is, until now I have been unable to refrain from buying the natural currencies.... just diversified into silver. :)

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So I basically get my currency from the same place I get my holiday money.

 

I that case, MSE have a really good price checker

 

http://travelmoney.moneysavingexpert.com/#results

 

I still feel a bit uncomfortable about keeping £10,000 RMB in the house and the money laundering rules when I want to change it back.

 

Has anyone here actually walked into a post office / currency exchange and tried to change £1,000 of foreign currency in to cash Sterling.

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Some Fund Companies offer diverse range of Currency funds useually mainstream eg GBP, USD, EUR, CHF, AUD and perhaps Nordic.

YEN funds areout as the interest rate on these is not enough for the Management (Mngt Fee is taken out of income not capital).

 

If you can get into these via a fund supermarket even better (but I doubt it).

 

Arn

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I would like to at some point buy some kind of index tracker.....not yet. Is there a way I can do this without Spread Betting but with using a little leverage? Thanks.

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Northern Wreck is safe as houses surely (oops, can't really say that any more can we!) in terms of actual cash holdings - but is the fear not that if Hyperinflation hits then any money in a Northern Rock Cash ISA is pretty worthless anyway?

 

You might consider putting most of it in Gold Money and buying some gold for insurance and leaving the rest there on deposit earning interest. Should the SHTF then you can immediately utilise the remainder.

 

 

 

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What’s the best way to trade currencies with only a small amount of money?

 

Say, I’ve got £1000 and I want Yuan.

 

I can only think of the Post Office and then they might suspect me of money laundering when I try to change it back to Sterling or another currency.

 

There are currency ETFs but I can't see any for yuan, shorting the dollar at some time in the near future might be something to be considered. (This is not a recommendation as I have n't used any of them yet)

 

http://www.currencyshares.com/

 

http://www.invescopowershares.com/products...aspx?ticker=UDN

 

http://www.invescopowershares.com/products...aspx?ticker=UUP

 

 

 

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I would like to at some point buy some kind of index tracker.....not yet. Is there a way I can do this without Spread Betting but with using a little leverage? Thanks.

 

You probably need to use ETF's, Proshares do 2x leverage on the main US indices http://www.proshares.com/funds Look for their "ultra" range of products. Having said that they are more of a traders vehicle than a buy and hold investment as you will not get 2x the performance because of the 2x negative erosion of your capital each time the index drops back.

 

I'm not aware of any leveraged ETF's on other major indices but if you come across any please let me know.

 

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There are currency ETFs but I can't see any for yuan, shorting the dollar at some time in the near future might be something to be considered. (This is not a recommendation as I have n't used any of them yet)

 

http://www.currencyshares.com/

 

http://www.invescopowershares.com/products...aspx?ticker=UDN

 

http://www.invescopowershares.com/products...aspx?ticker=UUP

 

There is a Yuan ETF issued by WisdomTree. Ticker is CYB on US exchange and there is an ETN (Exchange Traded Note) Market Vectors Renminbi, ticker CNY, the difference being the ETN is a debt instrument issued by Morgan Stanley so there is some default risk

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There is a Yuan ETF issued by WisdomTree. Ticker is CYB on US exchange and there is an ETN (Exchange Traded Note) Market Vectors Renminbi, ticker CNY, the difference being the ETN is a debt instrument issued by Morgan Stanley so there is some default risk

 

Thanks, just discovered CYB today but did n't know of CNY. Similar couterparty risk is present with CYB as it's backed by about 68% commercial paper.

 

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What about something like Gazprom?

Rather than visiting a casino which was Goldfingers idea, I notice the lovely Russian ladies made an appearance on this website again today. I personally have avoided their offers.....

 

No perhaps not :lol:

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If you are concerned about your money being inflated away why not consider spending it now.

 

If you are a homeowner you could purchase solar panels/wind generator, a wood burning stove or two, abit more garden/land, an electric car etc... all these things would help you save money each month and no one can ever take them away from you. (your savings could purchase more gold every month). You'd also not be worrying about how safe your money is plus you'd feel secure in the knowledge that you could be abit more self sufficient if it was necessary.

 

If you can heat and feed yourself for free - who cares if there is hyperinflation.

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So I basically get my currency from the same place I get my holiday money.

 

I that case, MSE have a really good price checker

 

http://travelmoney.moneysavingexpert.com/#results

 

I still feel a bit uncomfortable about keeping £10,000 RMB in the house and the money laundering rules when I want to change it back.

 

Has anyone here actually walked into a post office / currency exchange and tried to change £1,000 of foreign currency in to cash Sterling.

 

 

Yes. tried it eight years ago with yen. They were very unhelpful but did it in the end. I had to show my passport though and got a rubbish rate.

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