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Reply to: Which is the safest currency to hold in the short term?

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Previously on "Which is the safest currency to hold in the short term?"

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  • gingerjedi
    replied
    Originally posted by fullyautomatix View Post
    During the German hyper inflation, a woman dragged a basket filled with money to buy a loaf of bread. She propped up the basket outside the shop and went in for a minute. Came out and saw her money thrown out and a thief had made off with the basket.
    I keep hearing about this hyperinflation but I'm still waiting... I'd love to be able to waltz into my bank with a sack of cash and pay off the mortgage.

    Leave a comment:

  • HairyArsedBloke
    replied
    Originally posted by thunderlizard View Post
    For an individual, the safest currency to hold short term is the one that enables you to buy things in the country where you live. Any additional currencies you hold are speculative.

    That is only exchange rate risk. What about inflation? If local currency inflation is higher than foreign curreny inflation then the 'safer' one is the foreign one.

    Leave a comment:

  • thunderlizard
    replied
    For an individual, the safest currency to hold short term is the one that enables you to buy things in the country where you live. Any additional currencies you hold are speculative.

    Leave a comment:

  • fullyautomatix
    replied
    Originally posted by VectraMan View Post
    Buy baskets. Safer than currency.
    During the German hyper inflation, a woman dragged a basket filled with money to buy a loaf of bread. She propped up the basket outside the shop and went in for a minute. Came out and saw her money thrown out and a thief had made off with the basket.

    Leave a comment:

  • HairyArsedBloke
    replied
    Guns (and bullets, LOTS of bullets), food (and water), gold.


    Qualify 'safe'

    Leave a comment:

  • AtW
    replied
    Originally posted by VectraMan View Post
    Buy baskets. Safer than currency.


    caskets

    Leave a comment:

  • VectraMan
    replied
    Originally posted by AtW View Post
    If you want to reduce currency risk then you'll need to hold basket of currencies so that movement in one of them would be negated by the other.
    Buy baskets. Safer than currency.

    Leave a comment:

  • DimPrawn
    replied
    Buy UK property, goes up 10% in a recession.

    Leave a comment:

  • Scary
    replied
    Originally posted by AtW View Post
    If you want to reduce currency risk then you'll need to hold basket of currencies so that movement in one of them would be negated by the other.
    They're all toast. Devaluation race to the bottom.

    Leave a comment:

  • AtW
    replied


    If you want to reduce currency risk then you'll need to hold basket of currencies so that movement in one of them would be negated by the other.

    There is no such thing as a single "safe" currency meaning that they all go up as well as down.

    Leave a comment:

  • xoggoth
    replied
    Zimbabwean dollar?

    Leave a comment:

  • TimberWolf
    started a poll Which is the safest currency to hold in the short term?

    Which is the safest currency to hold in the short term?

    16
    Dollar, Euro, Pound
    12.50%
    2
    Dollar, Pound, Euro
    18.75%
    3
    Euro, Dollar, Pound
    0.00%
    0
    Euro, Pound, Dollar
    12.50%
    2
    Pound, Dollar, Euro
    6.25%
    1
    Pound, Euro, Dollar
    0.00%
    0
    AndyW's mattress
    50.00%
    8
    In order of unsafe to totally screwed (see poll).
    Tags: None

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