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abouttime

Preparing For The Next Sterling Crisis

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Or "How I learned to stop worrying and love the US dollar"

Thought I would start this thread given the recent sterling crisis thread in the main forum.

Basically, I've been looking for something USD denominated into which I can move a large chunk of my savings into given that how things stand with the UK's current account, a large fall in the value of sterling seems pretty likely. Plus, by all accounts, there's likely to be increased dollar demand over at least the next year or so.

I'd rather not buy gold or equity type securities as I don't want to be exposed to the additional risks which are associated with those asset classes. Plus it'd be good to hold something which won't lose too much value if US rates do move next year. Short of somehow getting hold of actual US $ (which seems to be hard to do in the UK unless you're an expat), the only product I've managed to find available for UK retail investors is the iShares ETF which holds short-dated (1-3 year) Treasury bonds.

However, I'd be v interested to know if anyone's got any better ideas....!

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Ah interesting though from the looks of it there doesn't seem any obvious way to just move the sterling in my current account to dollars in the HSBC account. It might be a case of withdrawing from current, converting to dollars, paying into HSBC, and then the reverse if I wanted to go back to sterling.

That'd mean getting hit with the spread on the way into and out of sterling and also the 1% charge mentioned on the HSBC site. Not cheap...

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How about (all jokes aside) property or other asset in one of the numerous dollar-using countries around the world?

Liquidity I guess - ultimately that money is meant for use in this country as opposed to for investment purposes.

Plus I've yet to even become of an owner of any property in the UK thanks to Osborne and his 12mths of HTB inspired madness in London.

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