Diego Mamani, are you persian too? From your name, Mamani…
Waiting Hawk, everbank.com, highly rated online bank, lets you buy foreign currencies, FDIC insured. Pretty cool. Some are pro euro, others say the euro will weaken. I say, why not diversify? Is the euro weaker than the dollar? At least Germany, the strongest European economy (and my native country), is a net exporter. Why not hold some euros?
What do you all think about Schiff’s opinion, that the US dollar is propped up only by the government misleading us into a false confidence, because if we all knew the truth about the poor economy, we would lose confidence and our economy would be in turmoil. Foreign central banks don’t have a choice but to invest in T bonds or other US assets, because if they convert the dollar they get from exporting to us, into their own currency, their currency will appreciate and their exports will get more expensive for us, reducing exports. So the T bond purchases don’t mean they trust our economy at all. At some point, the Asian export countries will have to revalue their currency or increase wages, and that will increase prices and reduce exports, but also make them less export dependent, which is a high priority for them. Doesn’t China realize the US is starting a recession, and then who will buy all that stuff?
