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If GBP is on its way out, which currency is safe and how to invest in it?

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf. What to do with the money though? I dont want to keep it in GBP. Any recs on how I can shift out of GBP to CAD$, any ETF's that might do the trick? or any bank accounts which will let you hold you cash in CAD$? Which currency are the GIM'ers most fond of? Thanks in advance.

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A lot of people seem to be recommending Canadian.

I have gone SFr because it is a neutral country, a lot of people in positions of influence have money in CHF and because it has an historical reputation as a "safe haven" currency.

That said, I think Switzerland is affected horrendously by the crisis and will suffer too.

I am not sure any currency is safe. I think we will go through a horrible period of deflation then inflation until the dust settles (10 years or so) and people start to trade again or until there is some kind of world war.

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A lot of people seem to be recommending Canadian.

I have gone SFr because it is a neutral country, a lot of people in positions of influence have money in CHF and because it has an historical reputation as a "safe haven" currency.

That said, I think Switzerland is affected horrendously by the crisis and will suffer too.

I am not sure any currency is safe. I think we will go through a horrible period of deflation then inflation until the dust settles (10 years or so) and people start to trade again or until there is some kind of world war.

 

Surely, regardless of economic conditions, when one currency falls, another must rise. So, as long as the CAD$ is not in as much trouble as the UK there is money to be made. I just have no idea how to gain exposure to the CAD$.

 

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Another alternative is to use a spread-betting or CFD account to open a position equating to a certain sum of Aussie or Canadian dollars. Selftrade CFD accounts do this.

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Another alternative is to use a spread-betting or CFD account to open a position equating to a certain sum of Aussie or Canadian dollars. Selftrade CFD accounts do this.

 

I'm not cut out for spread betting. I lose my nerve too easily and trade out too quickly.

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf. What to do with the money though? I dont want to keep it in GBP. Any recs on how I can shift out of GBP to CAD$, any ETF's that might do the trick? or any bank accounts which will let you hold you cash in CAD$? Which currency are the GIM'ers most fond of? Thanks in advance.

Gold has fallen many times of the last 9 years and recovered. Why gamble?

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I've got some c$ in my TDwaterhouse account, they also support holdings in AUD, HKD, SGD. I also hold a number of the Canadian energy trusts (penn west etc..) from which the dividends are paid in c$ straight into the account

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf. What to do with the money though? I dont want to keep it in GBP. Any recs on how I can shift out of GBP to CAD$, any ETF's that might do the trick? or any bank accounts which will let you hold you cash in CAD$? Which currency are the GIM'ers most fond of? Thanks in advance.

Norwegian Krona. You can open an account with DnB.

 

 

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Norwegian Krona. You can open an account with DnB.

 

I like that suggestion who are DnB ?

 

Also never thought id suggest this but think about exchanging a portion of your EFT for physical gold, offshore, somewhere safe

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf. What to do with the money though? I dont want to keep it in GBP. Any recs on how I can shift out of GBP to CAD$, any ETF's that might do the trick? or any bank accounts which will let you hold you cash in CAD$? Which currency are the GIM'ers most fond of? Thanks in advance.

 

You could use a hedging strategy by selling half your long gold ETF and place the proceeds in the short gold ETF LSE:SBUL. Once you're happy the correction is over reverse the trade or you could unwind the hedge little by little in case your timing is incorrect.

 

An alternative is Rydex Curency Shares Candian dollar trust ETF - NYSE:FXC costs 0.49% p.a there a $billions AUM. J P Morgan are the counterparty risk.

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A lot of people seem to be recommending Canadian.

I have gone SFr because it is a neutral country, a lot of people in positions of influence have money in CHF and because it has an historical reputation as a "safe haven" currency.

That said, I think Switzerland is affected horrendously by the crisis and will suffer too.

I am not sure any currency is safe. I think we will go through a horrible period of deflation then inflation until the dust settles (10 years or so) and people start to trade again or until there is some kind of world war.

 

Switzerland threatened with bankruptcy

 

http://www.creditwritedowns.com/2009/02/sw...bankruptcy.html

 

"Swiss banks have given billions of credit to Eastern Europe - now the customers cannot pay back the money. Switzerland is threatened with the fate of Iceland, says economist Arthur P. Schmidt."

 

and

 

"Switzerland, like Iceland, is threatened with a potential national bankruptcy. One consequence would be that the Swiss currency could fall massively in value — possibly even crash."

 

 

odd.

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf. What to do with the money though? I dont want to keep it in GBP. Any recs on how I can shift out of GBP to CAD$, any ETF's that might do the trick? or any bank accounts which will let you hold you cash in CAD$? Which currency are the GIM'ers most fond of? Thanks in advance.

 

gold ETF <> gold

 

A lot of people seem to be recommending Canadian.

I have gone SFr because it is a neutral country,

 

Norwegian Krona.

 

the central banks of Canada, Norway and CH all have multi billion dollar swap lines with the Fed. their respective fiat currencies will all sink together.

 

when cgnao warned you we face a 'worldwide hyper-inflationary monetary holocaust' he wasn't kidding.

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If you were to open a Goldmoney account, you could use that to move money between the major currencies and physical gold and silver as you please. Not the cheapest when it comes to fees, but almost certainly the most convenient..

 

 

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gold ETF <> gold

 

 

 

 

 

the central banks of Canada, Norway and CH all have multi billion dollar swap lines with the Fed. their respective fiat currencies will all sink together.

 

when cgnao warned you we face a 'worldwide hyper-inflationary monetary holocaust' he wasn't kidding.

They can print base money all they like for all I care.

 

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf.

 

Its obvious, get rid of the ETF on a peak and look for a dip to buy real gold, in your hands.

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I like Moneyweek and dominic frisby.

 

However, Dominic has called things wrong in the past and he is wrong this time about gold as well. It all depends on your timeframe. If gold dips I will buy more and he will feel that he called it right. If I buy & hold for 20 years - who will be right? Will we still be around to care?

 

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Right now, I am invested in Gold, but given that quite a few people (including Dominic Frisby) think that gold might head downwards over the next few months, I am anxious to move out of my gold etf. What to do with the money though? I dont want to keep it in GBP. Any recs on how I can shift out of GBP to CAD$, any ETF's that might do the trick? or any bank accounts which will let you hold you cash in CAD$? Which currency are the GIM'ers most fond of? Thanks in advance.

I also think goldmoney is a good option. I am using it to trade US dollars.

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