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What Currency Is Best for Holding Cash?

Difficult? Any major American metropolitan area will have a commercial bank that has a foreign exchange desk and will have as much of the yen, pounds, euro, yuan as an average purchaser will be able to buy in a single transaction. If you live in Hootervile (why?) your local bank can order the currency for you. Not so difficult.

Yes when you must live in America (why?) you need a current (checking) account to clear transactions. However, you can reduce your dollar exposure by opening an account denominated in pounds or euro at Abbey International (or others) over the internet and international post (mail). You can use the visa debit card issued from that account to pay for goods and services. You'll pay a 2.5% exchange rate on each transaction but many view that akin to an insurance policy. The problem with any account in any fiat currency is the loss of purchasing power if the currency is debased.

Buy your gold at your local coin dealer or jewelry supply store. Buy Canadian Maple Leafs, Chinese Pandas or anything other than Eagles as the later come in both 96.5% and 99.9% making it possible to cheat yourself if you can't determine the difference.

Whatever you decide, good luck!


On Jan 13 03:18 PM Larry House wrote:

> There are times I am tempted to put every investment $ I have in
> gold. I have no confidence in our dear green back. On the other
> hand, as mentioned before, $$ are necessary to conduct business in
> this country, so it makes sense to hold $ in an emergency fund.
> Beyond one's reasonable cash needs, I think gold and silver are fine.
> It is a bit difficult for the average person to hold foreign currency.

What Currency Is Best for Holding Cash?

Jim Rogers has allot of his money in Yuan and has stated every time a camera is put in his face that he's methodically reducing his dollar holdings. All my dollar renumeration is converted within hours.