From the blog :- http://www.thisismoney.co.uk/news/article....56&in_page_id=2

My question is this (and excuse my lack of knowledge)

If the pound is due for a large fall, where is the best place to put your savings to take advantage of this? Euros or Dollars.

What are the best vehicles for transferring savings into a foreign currency without incurring large charges.

What % charges should I expect if I was to do this?

Thanks in advance for your mighty advice

You probably will hate this but...

if you don't know you shouldn't do it.

Unless you are an active and trained trader, why take the chance?
Yes, I'm serious. There are serious people out there who lose - why would you win?
Be v careful with your hard won gains.
Just trying to be helpful.

Thanks for the advice.

I guess I should have made it clear that it was more of a hypothetical question.

I'm just interested in how people can take advantage of currency adjustments, and what the costs and pitfalls are. I assume there's ways of investing in currency without the usual tourist rates of commission?

So the question still stands...

If have cash in sterling and are worried about it devaluing, the easiest 'retail' way to hedge against this risk is to open a spread betting account, deposit 500 pounds, then 'buy' the currency you think the pound will devalue against (e.g. Euro, SFR, Dollar)

Spread betting allows you to hold a highly geared position with only minimal deposit (like buying a house!), so you could easily get yourself a £30,000 exposure to the Euro strengthening with very little outlay.

Your gains are tax free. Take a look at igindex.com, tradindex.com, etc.

Fingers

Normally the opposite of what you read in the paper will happen.

You are correct BP. Now the pound seems to have stabilized against the dollar and Euro.

The so called experts generally seem to comment after the events have happened, like looking through the rear view mirror.

If they had any insight, they would have become rich like Warren Buffet.

All fiat currencies are 100% doomed to fail. The dollar, pound and euro will all collapse in time (in that order).

got gold?