If the Euro is so high at the moment, and the dollar is so low, shouldn't I buy lots of cheap dollars with me expensive Euros and wait? Hopefully sooner than later the dollar will get strong and I will become rich...
What do you people think about this idea?
Thanks!
2007-05-28 05:42:17 · 5 answers · asked by Micron 2 in Business & Finance ➔ Investing
Yep, that's the beauty of the free market. By having a lower dollar, it encourages foreign investment in the USA, because as you stated, you can buy more dollars.
2007-05-28 06:05:31 · answer #1 · answered by trancevanbuuren 3 · 0⤊ 0⤋
The dollar has been worth less than the Euro for many, many years.
Yes, you could purchase dollars while they are cheep with Euro's; however, you would only make pennies per dollar. The only way to really "bank" on the echange would be to spend an enormous amount of Euro.
Currently, if you spent 1 million Euro to buy dollars, you would have only made $345,250.
If your looking to invest in "paper money", I would consider investing in the Dinar. The exchange rate for $1 is 1,258.686 Dinar. Before Desert Storm in 1990, the Dinar was worth more than the Dollar!
Take a look at: http://www.bloomberg.com/invest//calculators/currency.html#results
The site will allow you to purchase Dinar, and it also has articles about the exchange rates.
2007-05-28 13:04:56 · answer #2 · answered by Sunny 1 · 0⤊ 0⤋
The way to take advantage of the cheap dollar is to come on over and give us a visit. See the Grand Canyon, Niagara Falls, Smoky Mts., NYC, Rocky Mt. National Park. And while you are here, check out the 500+ birds that are not found in Europe. You will find that you will share your visit with many of your own countrymen.
2007-05-28 14:23:40 · answer #3 · answered by Anonymous · 1⤊ 1⤋
People do it every day. Not sure they get rich, but, they making money. Many like the British Pound too.
Go here and play the game to see how you do;
http://fxgame.oanda.com/
Try to liquidate you start cash to what you would normally have in real money. $500, $1000 or whatever. It easy to play with $100,000 and make money. Do not let that fool you. Start with what you will start with in real cash.
2007-05-28 12:53:17 · answer #4 · answered by Snaglefritz 7 · 0⤊ 0⤋
Wait for what?
$10 Trillion in debt?
Nuclear Strike in New York?
Mexico buys Arizona?
All Public Schools are sold to the highest bidder?
Here is your tab:
2007-05-28 15:43:38 · answer #5 · answered by Anonymous · 0⤊ 2⤋