Other Currencies

[dinarmite]

Has anyone invested or speculated on other currencies?I just went to the bank today to buy $1000 in euros since the euro is down now against the dollar and also plan to visit Europe soon.Is anyone investing in China yuan,
afghanis,vietnamese,etc?Is it true that if one had invested $1000 in Kuwait dinars during the last gulf war it would be worth 3.3 million today.
Also are most people here Americans?

[Copedawg]

Um...I am an american...I think most people here are. I do believe (and will be supported by the following replys) that yes you would've profited considerabley if you bought $1000 of KD in 1990. As far as buying other currenies and steady exchanging it for profit, sounds like a hastle and a half, maybe even 2 hastles!

[Jeffrey]

Yes Dinarmite...anyone can trade in foriegn currencies. You can search the internet for "FCX" (foreign currency exchange). Trillions of dollars (I use the word dollar to represent all currencies)....are traded daily. It is the largest, most liquid market on the planet.

You can even do it online, much like a day trader in the stock market. Mind your P's&Q's though....while huge gains can be made trading world currencies...you can lose you shirt before you know it.

The "experts" say that it takes about 5 years for a novice to become at all skilled in the FCX...hope that helps... :wave:

[Psycho for Dinar]

Right now I have 3 million Dinar with another 200,000 in route and plan to buy another quarter million this Friday.....don't think I can afford another currency opportunity! :D

[Marilyn]

I admire the young men and women who do this for a living. It's a wild ride...

[dinarmite]

Yes,I know about forex which uses leverage of like 100:1 to electronically buy electronic euros,swiss francs,etc.I was referring to hard currency.It seems paper money collecting is a small subset of coin collecting,but the collectors are interested in their collectible values.I think in places like Pakistan there are currency brokers that deal in paper money as investments.

[geowhiz]

Right now I have 3 million Dinar with another 200,000 in route and plan to buy another quarter million this Friday.....don't think I can afford another currency opportunity! :D


How do you feel about it now..

[baz]

Has anyone invested or speculated on other currencies?I just went to the bank today to buy $1000 in euros since the euro is down now against the dollar and also plan to visit Europe soon.Is anyone investing in China yuan,
afghanis,vietnamese,etc?Is it true that if one had invested $1000 in Kuwait dinars during the last gulf war it would be worth 3.3 million today.
Also are most people here Americans?

Dont know how many Euros you got for your Dollar but you might be a bit surprised as to how much goods have gone up in Europe as well...i was.

Petrol has risen sharply, food up, eating out up, one item that was 8 Euro in March 08, was 11 Euro in May 08. Perhaps not as much as my country or yours but increased never the less.

[REITman]

WOW! You know the news is slow when geowhiz resurrects a thread started in July of 2004! :lmao::lmao::lmao:

[geowhiz]

WOW! You know the news is slow when geowhiz resurrects a thread started in July of 2004! :lmao::lmao::lmao:


Going through the archives and the annals (Dude, he just said annal) :rofl: :rofl:

[geowhiz]

[b][u]

Dont know how many Euros you got for your Dollar but you might be a bit surprised as to how much goods have gone up in Europe as well...i was.

Petrol has risen sharply, food up, eating out up, one item that was 8 Euro in March 08, was 11 Euro in May 08. Perhaps not as much as my country or yours but increased never the less.


It's interesting you bring that up. Unless you are an Arab living in one of the rich Persian Gulf countries and your gas is subsidized and your money is basically handed to you, then your country's currency value is relative to the prices you pay for your goods. So even though the strong Euro has more exchange value than the dollar, folks that live in Europe are still feeling a pinch due to high fuel and food prices, just the same that Americans feel with our "weak" dollar. It's all relative unless you are the cream on top of the Cappucino.