Change Euro into different currency for safety?

Randy Anders

Hi folks, hope I have this in the right forum, if not mods feel free to move

Basically,I have savings of 8000 euro accumalated at the moment. Now I know this isn't huge money but it's vital for me that I keep it safe with the financial position I find myself in at present

With the Euro the way it is, would it be wise to change my euro into a foreign currency such as Kroner, Aus Dollars, Swiss Franc?? I wouldn't be too afraid of losing a small sum of the money in the currency exchange if it was to give me piece of mind and relative financial safety

Any opinions?

Thanks

The Apprentice

I,d just like to say.. ure moneys fine.. the euros going no where !!

Stop panicking

YellowSheep

Gold!

ssbob

The Apprentice wrote: »

I,d just like to say.. ure moneys fine.. the euros going no where !!

Stop panicking

Would you repeat your sentiment thsi morning given that both France and Germany were buying bonds at all time highs late yesterday.

I watched David McWilliams interview with Mike Murphy again last night(I had it recorded(=) and he reckoned the end game would be that the only way out of this recession for Ireland was to print money and that we can only do that with the consent of the ECB or else we get our own currency back whereby the exchange rate is more suitable to our needs rather than Europes needs.

But to answer your question, i would say your money is relatively safe for now but if you were very worried why don't you put half in Sterling to hedge your bets so to speak

srsly78

You won't be able to open an offshore account with such a small sum. You would have to go to another country and declare yourself resident (sure you can hop on plane home once it's open). Should have done this ages ago, euro has dropped a lot vs other currencies in recent weeks.

talktojesus

Gold or else Silver!

CRASH J.P MORGAN, BUY SILVER.

Look around, anyone with alot of capital is investing it in the metal market.

I have no gold myself, cant afford it but I have bought 20 ounce's of Silver which is held in mint and I have 10 ounces's of .999 pure silver coins hidden under the mattress!
Any spare euros I have is going into buying Silver
Gold and Silver are going to go up and up. Mark my word.

Merrion

I think you would be well advised to keep it in the currency you do your daily living in and thus have no FX risk at all. In the stupendously unlikely event that the euro zone collapses your money on deposit will be converted using the same mechanism that your salary and tax do...

Keep it in Euro.

The Apprentice

Didnt warren buffet sell most if not all of his gold reserves/stocks in the last couple of weeks with the "Seemingly" stablising markets ???

ssbob

talktojesus wrote: »

Gold and Silver are going to go up and up. Mark my word.

Change the word "Gold/Silver" for "Property" and you sound like the auctioneers about 5 years ago!:D