|Comments on Wednesday 8 October 2003:|
|Grarh. My moneys, most of which are in American dollars, are becoming worth gradually less to me, because the US dollar is declining relative to the Australian. This is likely to accelerate, since people are apparently converting their currency into metal (gold, platinum, etc.), fearing the collapse of the US dollar, and simultaneously accelerating it. I'm tempted to jump on this bandwagon, through the power of e-gold; the transfer fees wouldn't have ruled it out for me, but their outrageous 1% annual drain does. |
The practical alternative would be to move to another currency. That, too, has its impractical side; I can very easily convert to Sterling, Canadian dollars, Euros or Yen, but two of these seem likely to follow the dollar and the others would require another conversion to be useful to me. With a bit more effort I could convert to Australian dollars, but I'm not yet sure of my immigration capability, which again means potential double-fees and awkwardness.
There's the option of stocks, but most of those are intimately tied to the American economy, which is what I'm trying to get away from in the first place. Current intent is to hope the US dollar doesn't collapse too quickly, and convert to Australian dollars if-and-when I stabilise here. Anyone got a better idea? [10:03]
|Get your money out of America very fast. Arnie has just been elected in California. There's no better sign that the country is about to die.|
|Percentage wise, what would you loose from converting to Aussie dollars, and then to Sterling (assuming you were to fail immigration, and end up back over here)?|
It can't be much more than the cost of sitting and waiting while all the time the US Dollar diminishes in value. It's even better if the Aussie Dollar is rising against Sterling. I can't be bothered to find out if that's the case, but you've most probably covered that anyway.
If it were me in your shoes, apart from complaining about how some bastard had cut off the soles, I'd move the money to Aussie Dollars. In fact, I'd move it to pretty much anywhere *but* America. After all, the US economy has screwed you're former family out of massive amounts of cash in past. That would scare me off enough to take the potentially beneficial risk.
|You could always give it to a friend of mine under the sole condition that he give half of it to me.|
|Why not buy into gold? Being that I;m a minor withno significant assets to speak of, I haven't looked into the matter, but shouldn't it be fairly easy to find a way to buy gold without paying the ridiculous fees of e-gold?|
|Convert to Euro and get a credit card company linked debit card, which should maximize exchange rates for each transaction. Not to mention allowing online banking.|
Of course, this will label you a terrorist in the eyes of the American Machine, but It probably tagged you long ago anyway.
|ow that doesn't sound good|
|Yo could always keep it for your self or burn it|