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Sleekstep

Is it possible to convert my money into euros? If so, how do I go about it?

SUE:

With the economy in such bad shape globally, extreme care and extensive research are prudent, I mean right now, almost any currency can go belly up on any given day...

SUE:

Your best bet right now would be to invest in the tangibles such as gold, silver, and platinum, as they do not share the current volatility of currency and are more widely accepted forms of true value in times like these where the value of currency is so fluid...

.......:

Check with a major bank in your area. And you won't be alone!

Sleekstep:

Really?

SUE:

Yeppers, simply go to any international monetary exchange, usually you will find one in most of the major banks in big cities. Some use this as a form of money market investment. I have done so myself when the U.S. dollar was champing the other currencies of the world. But, you best be real careful because it can be a pendulum that swings both ways in this economy.

Sleekstep:

Thanks. I'll be careful.

Ginger:

Or, you could buy shars in an exchage traded fund that tracks the euro.

http://finance.yahoo.com/q/pr?s=FXE

SULLY:

Why in the world would you want to do that right now? Tread carefully and speak to an accountant
before making this move.

Sleekstep:

Not sure, but the euro looks stronger.

Porkenstein AKA Pork, Porky, Porkens:

It was much stronger a year ago and is steadily falling. You'd do better to do the reverse actually and convert Euros to dollars.

Jim:

You'd be better off buying gold with your money.

Think about it- If the dollar collapses, it'll bring down the euro with it.
If you are holding gold coins, you can exchange it for whichever currency has value at that time.
There will never be a day when gold will be worthless- Even the Egyptians knew that!

Don't get suckered into buying gold notes- get real gold you hold in your hand. Bury it in your backyard- just avoid any buried telephone lines, and you'll never be without a means to buy food or whatever.

Porkenstein AKA Pork, Porky, Porkens:

Gold is a sucker investment. It has historically failed to outpace inflation and is one of the worst long term investments.
There is this crazy idea that if the fiat money backed by the Government collapses then Gold will be worth something. Gold is no different than paper money, it only has value because someone says it does. Think about it. If we were in an apocalyptic world of anarchy would you really trade your food/water/shelter for a gold chain?

Jim:

I didn't mean to go and buy a gold chain-
What I meant was to invest some money in raw gold or coins.
If you bought gold with confederate money before it became worthless, you would retain something of value to be exchanged for the excepted currency. If you look at the price of gold since 1890, you'd see it would be quite a jump in value. (I don't know nor do I care when confederate money went valueless- it's irrelevant for my point)
I would hope that people didn't think to try to invest in some jewelry to hold value with the mark up from the store compared with what they would receive in weight value.
In an apocalyptic world you'd have a much better chance to eventually trade something that has historic value for an excepted currency- otherwise, you'll have a mattress full for euros, dollars, franks, or pesos, that aren't worth anything more than toilet paper.
If we're talking apocalypse- invest in food and a solid water system- like the one that creates water out of humidity

Porkenstein AKA Pork, Porky, Porkens:

If you look at the price of Gold over the last 100 years or so it hasn't even beat inflation over the long term. If you are really worried about the US dollar becoming the equivalent of Confederate money, that is a silly analogy unless your alternative is putting cash money in a jar and burying it in the yard. Equity and debt instruments have a value and pay interest regardless of the currency they are demoninated in.

John P:

bank airport

Porkenstein AKA Pork, Porky, Porkens:

The Euro has been falling for 6 months against the dollar and the European banking system is looking like it is in worse shape than ours. I'd suggest thinking twice about that move.

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