If you had some significant money but didn't trust the pound or the dollar..... for fear of both currencies losing value in the near future..... what would likely be the best option to change currency in to.
I don't trust the Yuan..... Chinese currency, solely on the reasonable premise that a strong stable currency can not be depended upon from a Communist regime which had deep rooted corruption issues and little framework of law.
Oh... and I think it helps if the country/currency rules have genuine firepower (the gun is always mightier than the dollar), and preferably resource wealth like oil, minerals ect.
I can't easily see a suitable candidate for a strong currency... oh and I rule the €Euro out because it's an insane currency.... one currency for like 10+ different countries who are often bickering at one another with totally different economies in each country.... it will be torn apart as a currency at some point.
2007-11-28 13:27:39 · 8 answers · asked by Narky 5 in Social Science ➔ Economics
Hmmm I've just realised the Russian ruble meets alot of my criteria. Not perfect (authoritarian government) but still....... hard hitter, loads of mineral wealth... emerging economy.
2007-11-28 13:36:25 · update #1
I hear what your saying beanie but still feel a major geopolitical change is coming which is going to rock the foundations of the pound and the dollar.
2007-11-28 13:41:50 · update #2
You are wrong to have faith in the Euro.... lots of individual member countries have serious problems... France is a basket case economy... Spain has massive consumer debt and many of the member countries are going to have massive property price falls...... leading to hurt for a lot of people.... and most likely bring about changes of Government and who knows what kind of new politics... radical... extreme..... people who might want immediate disconnection from Euro.
http://blogs.telegraph.co.uk/business/ambrosevanspritchard/nov07/europe-exchange-control.htm
2007-11-30 10:44:56 · update #3
I'd go with actual minerals instead, gold,silver,etc. You can always sell those.
2007-11-28 13:35:50 · answer #1 · answered by blishyeti 1 · 1⤊ 2⤋
That's quite difficult. Most of the countries with a lot of natural resources are poor, and don't have reliable currencies. The US is the only country that can do what it wants militarily, but you don't want the dollar.
The Euro is not an insane currency, and the fact that it is used by several different countries means that it is more stable than most. It really does seem to be the currency to use.
The only other major currency I can think of would be the Japanese Yen. Japan doesn't have many natural resources but has very strong high tech and manufacturing sectors, its economy is starting to look up after the recession in the 90's (Japan has a very low unemployment rate) and it has a bit of firepower (probably more than they would own up to). The only foreseeable problem is that Japan's ageing population could put a strain on the economy in the future.
If you get desperate, you can always go with the Swiss Franc, since I don't see them having a recession or war any time soon; or, as someone else has suggested, you could invest in something other than currency.
2007-11-28 21:44:58 · answer #2 · answered by Rembrandt Q. Einstein 3 · 1⤊ 2⤋
By ruling out the euro, dollar and pound, you've pretty much ruled out all the decent currencies for longetivity and with most reistance to hyperinflation. I see your point in the fear of losing value, but you have to take a long term view on it. Over a period of say 5 to 10 years, you will see that these 3 currencies decline the least compared to other currencies around the world. It all depends on economic stability and although the US and europe are having a bit of a blip, its the most stagnant when viewed from a longer standpoint.
However, if you are only speculating on a short term, then you need to play the market and move your money around currencies in order to make money and not just stick to one.
Finally, don't forget, a lot of currencies around the world index their local currencies to either the dollar, the pound or the euro.
2007-11-28 21:38:31 · answer #3 · answered by beanie 5 · 1⤊ 2⤋
Canadian, but for a short time then sell and find a stronger one at the time , they all move up and down but for now it's the Canadian paso lol
2007-11-28 21:36:50 · answer #4 · answered by jim m 7 · 2⤊ 0⤋
Actually I think the dollar is a fine candidate to invest in now. Buy on the dips. It's certainly dipped.
2007-11-29 01:19:52 · answer #5 · answered by Uncle Pennybags 7 · 1⤊ 2⤋
the us $ is weak the GBP £ is strong the euro is middling personally if its a long term thing I would opt for us $ as they probably will recover against the pound
2007-11-28 21:52:50 · answer #6 · answered by Anonymous · 1⤊ 2⤋
chinas currency. euros good.
2007-11-29 00:17:47 · answer #7 · answered by bullet b 4 · 0⤊ 2⤋
because of the political implications if there was a ....''failure'' I would go with the euro.......unfortunatelly.
2007-11-28 21:43:32 · answer #8 · answered by Anonymous · 1⤊ 2⤋