pby Posted August 29, 2008 Share Posted August 29, 2008 I’m not much of money whizz, but I was wondering with the markets changing so much what people think is the best currency to have your money in at the moment? Or is the whole worlds currency system f*cked and should I be getting plenty of sheep (bring on the sheep jokes ) and salt in for when we start trading in livestock and ye old minerals? Quote Link to comment Share on other sites More sharing options...
sbn Posted August 29, 2008 Share Posted August 29, 2008 Some people who used to hang around here think they have the answer to this question..... Look through a few older threads. Quote Link to comment Share on other sites More sharing options...
nicebuyer Posted August 29, 2008 Share Posted August 29, 2008 I'm liking GBP/USD at the moment but worth a punt for a quick short term gain would be AUD/JPY. Perhaps the high has already passed in which case some might suggest the NZD pair would see some good action at the start of next week. But it's anyone's guess at the moment Quote Link to comment Share on other sites More sharing options...
Jason Posted August 29, 2008 Share Posted August 29, 2008 Hmmm... If I had to pick one, I'd say the one which you use to pay for your groceries. It'd be quite difficult otherwise. Quote Link to comment Share on other sites More sharing options...
nicebuyer Posted August 29, 2008 Share Posted August 29, 2008 BTW, if you have money to invest then forget currency, you want to buy some antimatter. I believe it's seen a four trillion % rise since 1999 hehe. Seriously, antimatter, Cocaine or Saffron would be a solid investment right now. Isn't LSD up there too? Quote Link to comment Share on other sites More sharing options...
1929crash Posted August 29, 2008 Share Posted August 29, 2008 I'm liking GBP/USD at the moment but worth a punt for a quick short term gain would be AUD/JPY. Perhaps the high has already passed in which case some might suggest the NZD pair would see some good action at the start of next week. But it's anyone's guess at the moment Good job you're not a doctor. Quote Link to comment Share on other sites More sharing options...
kiwi Posted August 30, 2008 Share Posted August 30, 2008 both RBA and RBNZ will cut, both by 0.25% IMHO NZD/JPY on a downward path for sure, maybe a collapse at some point if we can get global risk aversion ... can see a 4 fig figure move in a day or so if the carry traders get nervous... you have to make decisions on a day by day basis if the russians cut off oil next week i see oil up and eur up.... this is a real possibility oh will be a technical fault with the pipeline... make no mistake they have had a guts full of american expansionist policies... missiles in poland = higer oil prices... us to decide... Quote Link to comment Share on other sites More sharing options...
Injin Posted August 30, 2008 Share Posted August 30, 2008 Injindollar. Quote Link to comment Share on other sites More sharing options...
the_austrian Posted August 30, 2008 Share Posted August 30, 2008 I’m not much of money whizz, but I was wondering with the markets changing so much what people think is the best currency to have your money in at the moment? Or is the whole worlds currency system f*cked and should I be getting plenty of sheep (bring on the sheep jokes ) and salt in for when we start trading in livestock and ye old minerals? Sterling doesn't look too bad it has weakened (vs Euro) over the last year and should be near to bottom. For some reason money supply is still rising at 14%+ (link) but that can't be sustainable. Bottom line: buy whatever you think you might need. Quote Link to comment Share on other sites More sharing options...
nicebuyer Posted August 30, 2008 Share Posted August 30, 2008 both RBA and RBNZ will cut, both by 0.25% IMHONZD/JPY on a downward path for sure, maybe a collapse at some point if we can get global risk aversion ... can see a 4 fig figure move in a day or so if the carry traders get nervous... EUR's a safe bet but I wouldn't empty my coffers of those yankee $ just yet, they'll continue to get stronger I'm interested to see by midweek if your NZD prediction is correct. Betcha a pip it's not Quote Link to comment Share on other sites More sharing options...
nicebuyer Posted August 30, 2008 Share Posted August 30, 2008 Bottom line: buy whatever you think you might need. Housing?... Quote Link to comment Share on other sites More sharing options...
Nicholas Cage Posted August 30, 2008 Share Posted August 30, 2008 The best currency for low risk doesn't really exist, you can buy and sell both to always stay level. So if you deal in two currencies you end up balanced with maybe a tiny imbalance every now and then. If you want to make lots of money you need to go against what everyone else thinks, know something nobody else does or make huge bets with massive amounts of short term borrwed cash. Quote Link to comment Share on other sites More sharing options...
kiwi Posted August 30, 2008 Share Posted August 30, 2008 Betcha a pip it's not AUD/JPY will bounce after traders realise RBA not go on cutting spree and only moved 0.25% , kiwi will bounce with them but AUD/NZD will go up.. then RBNZ will cut (this is 100% given .... 0.25% cut) many more to come.... my advice sell NZD/JPY around 77.35 have a buy order on AUD about 50 pips below market at announcement time, headline will drop but as statement is read it will rally and short squeze aussie is not as bad as people think... yet NZD sell if 68.2 broken maybe have a sell order at 67.95 its a long way down to 60 maybe we see 65 or 63 on this run Quote Link to comment Share on other sites More sharing options...
the_austrian Posted August 30, 2008 Share Posted August 30, 2008 Housing?... ...don't forget the need not to have a ridiculous mortgage!! Quote Link to comment Share on other sites More sharing options...
WiseBear Posted August 30, 2008 Share Posted August 30, 2008 Long term the best currency is GOLD. Quote Link to comment Share on other sites More sharing options...
'Bart' Posted August 30, 2008 Share Posted August 30, 2008 Bullets. 1 bullet = all your gold/silver/sterling. No better exchange rate exists IMO. Quote Link to comment Share on other sites More sharing options...
Injin Posted August 30, 2008 Share Posted August 30, 2008 Bullets.1 bullet = all your gold/silver/sterling. No better exchange rate exists IMO. Don't forget the smile. "You'll go a lot further with a gun and a smile than just a gun..............or a smile." Charlton Heston. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 30, 2008 Share Posted August 30, 2008 Currency speculation can seriously damage your wealth. Unless you really know what you're doing, the best currency(s) is/are the one(s) that you will be spending. Quote Link to comment Share on other sites More sharing options...
nicebuyer Posted August 30, 2008 Share Posted August 30, 2008 Long term the best currency is GOLD. No it is not, it's antimatter. Quote Link to comment Share on other sites More sharing options...
Injin Posted August 30, 2008 Share Posted August 30, 2008 No it is not, it's antimatter. Injindollars, obviously. You buy them knowing they are worth ****** all. This allows you to sleep soundly at night. You just can't put a price on that. Quote Link to comment Share on other sites More sharing options...
1929crash Posted August 30, 2008 Share Posted August 30, 2008 Injindollars, obviously. You buy them knowing they are worth ****** all. This allows you to sleep soundly at night. You just can't put a price on that. Roubles. Quote Link to comment Share on other sites More sharing options...
Justice Posted August 30, 2008 Share Posted August 30, 2008 BTW, if you have money to invest then forget currency, you want to buy some antimatter. I believe it's seen a four trillion % rise since 1999 hehe. Seriously, antimatter, Cocaine or Saffron would be a solid investment right now. Isn't LSD up there too? The war on drugs is not working and the output from afganistan has gone up 300% since we liberated them Heroin is now 700% cheaper then it was in the 1970's Gov could aways do a Oliver North and sell drugs on the street to finance a war. You might do better looking at food Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted August 30, 2008 Share Posted August 30, 2008 (edited) EUR's a safe bet but I wouldn't empty my coffers of those yankee $ just yet, they'll continue to get stronger I'm interested to see by midweek if your NZD prediction is correct. Betcha a pip it's not The trouble with currency dealing is you get a bunch of dealing costs and then have to contend with different interest rates. I could have fairly easily traded my STR fund into Dollars or Yen, but would have had to surrender a few percent in fees and then contend with low interest rates. So far Sterling has lost close to 10% against the Dollar, but switching in and then back again would cost probably 4% and I'd then get a lower interest rate, costing another 3%. Ok, if the Pound goes to 1.50, then yes there will have been a gain to be had had I swapped out at GPBUSD= 2.00, but that only 25% gross, probably 16% net and is quite high risk. That said, I am not convinced the Dollar's recovery is long term. I expect Sterling weakness for a bit against the Dollar, but actually the real issue is the Dollar, Euro and Pound are all western currencies that are overvalued against the Yuan. I wouldn't touch the Euro for now, the ECB is about 8 months behind the BoE. So I suspect the Euro will dive sometime in the new year. Edited August 30, 2008 by mikelivingstone Quote Link to comment Share on other sites More sharing options...
Errol Posted August 30, 2008 Share Posted August 30, 2008 Gold, followed closely by silver. Quote Link to comment Share on other sites More sharing options...
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