Source: What's the opinion of this investment???? Look what the SGD did when everything hit the fan back in 2009... Hope my logic's right???? Buy $AUS100 000.00 worth of SGD and get SD130 000.00 When/if it retraces 2009...reconvert SD130 000.00 to AUS$130 000.00 I've read many times that the Singapore economy is very stable....and seemed to do well last time....
how you going to buy it, because electronically it may not be accessible, and ultimately fiat is fiat there is but one true money....
I think your on the money .The conversion fees to buy it then change it back kill it unless you know someone there you can transfer into their account .I'l only do it when & if the shtf like it did last time.
One option worth considering is the foreign currency denominated accounts from HSBC. Possibly an easier and more convenient way to speculate on foreign currencies.
What fees do they charge? You can get foreign debit cards from most banks just tell them your going on holidays & theyll convert it then give you it all in the required currency at the rate of the day but the exchange rate is horrendous
I've looked in to it a bit and there's a couple of ways.... Aust Post exchange but the spreads not great..... There's foreign currency accounts...Where the spreads great and fees are low. Minimum 10k....
Whos that with? i asked my both my banks & they said i couldnt keep other currencies indefinately. Maybe i wasnt asking the right questions
Citibank was one that stood out....Just flicking through my "ideas" book and I can't find much on it....If I think of the other one, I'll PM you....The rates really were quite good...I think from memory you lose about half a percent in and out....small account keeping fees....10k minimum....
Can't find a 5 year chart that'll work...I'll try Yahoo again later..... Seems to me you could put your money in most places that actually do stuff but aren't China, India, Russia, Brazil or anywhere in Europe.... It's great stuff. Thinking outside the square in the next ten years should put you way ahead of the crowd. Being in cash and precious metals and not owning a house over the past few years has put me about 20%pa ahead I reckon; particularly in my super... Now to diversify in to my SGD idea....
HSBC? Citibank? Ask Celente how safe your money would be! Use one of the single cost transaction changers at the airport with a zero cost buyback guarantee if you must.
If you don't travel alot try the two banks mentioned. Ive never used exchange kiosks that much but everytime I do I feel the fees and their own rate are a bit much. Might have to pay tax money made in bank account also
There are risks with everything. An old saying about eggs and baskets comes to mind here. Personally I am happy to accept certain risks with my speculative funds - ymmv.
Just what is your backup plan if TS really does Hit the Fan ? IE everything is shut down, The system as we know it becomes defunct markets are closed and the domino effect takes out everything ? Everyone has read time and again from the freaks to the experts if you cant hold it you don't own it, Which part of that message is not computing ? MMM I'll just speculate with a 100 G and then... Um...Err jeeze go knock on their door and ask for it back later? HELLO ! the worlds financial system is about to collapse and people are seriously considering placing that amount of trust in it. ?
What part of "with my speculative funds" is hard to understand? I have physical metal, physical cash, deposits, and a range of assets with varying amounts of risk.
Do you have a 100 G as the OP mentioned ? Sorry Dwayne you were being used as an entry to the dialogue ,my post was not aimed at you. Well in a way it was but I would guess that you are clever enough to only risk what you are willing to lose, that said tho risking any amount on spec in the current climate is sort of like playing the pokies when you know they are rigged. Jeeze stop being such a tesky bitch all the time, I have a physical milk cow, physical vegetables, Physical coffee, physical beef, pork, chicken, turkey, duck, wallabie, kangaroo,plains turkey and water, solar, biodiesel, diesel, wind and space. + Au and AG I know where I would rather be.
My point is that without knowing somebody's whole situation making blanket statements like that is dangerous. If that makes me a testy bitch then so be it. No offence taken though
