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What cyurrency should I invest in if the eurozone collaspes

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Comments

  • #32
    hmmm
    Registered Users, Registered Users 2 Posts: 11,203 ✭✭✭✭hmmm


    JMMCapital wrote: »
    Gold is a great investment. Most money managers worth their salt suggest you keep 5-10% your portfolio in gold are you saying they are idiots?
    Most money managers do not suggest anything like 5 to 10% in gold.

    BTW bitcoin is down 5% in the past day.


  • #33
    JMMCapital
    Registered Users, Registered Users 2 Posts: 373 ✭✭JMMCapital


    hmmm wrote: »
    Most money managers do not suggest anything like 5 to 10% in gold.

    BTW bitcoin is down 5% in the past day.

    Yes they do. John Paulson, Stanley Druckenmiller, Ray Dalio, Paul Tudor Jones, Peter Schiff, Jim Rogers to say the least I could name hundreds.

    https://www.linkedin.com/pulse/paradigm-shifts-ray-dalio/

    www.youtube.com/watch?v=GTruXijTQ9A - Jim Rogers: Buy Gold Coins and Silver Coins as Global Crisis Is Coming

    Don't mind bitcoin total waste of time.


  • #34
    El Tarangu
    Registered Users, Registered Users 2 Posts: 1,623 ✭✭✭El Tarangu


    hmmm wrote: »
    OK. Stop listening to idiots telling you the Euro will collapse and suggesting you put your money into Bitcoin/Gold/Seashells.

    Hey, cowrie shells are due a bounce.


  • #35
    CelticRambler
    Registered Users, Registered Users 2 Posts: 7,155 ✭✭✭CelticRambler


    hmmm wrote: »
    BTW bitcoin is down 5% in the past day.

    Typo? It's down 15%. ;)


  • #36
    davegilly
    Registered Users, Registered Users 2 Posts: 707 ✭✭✭davegilly


    What about Oil? As there is a finite supply then surely the only way is up? Over time obviously! And any middle East craziness will only drive the price up also, no?


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  • #37
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    Kole Ripe Martinet wrote: »
    Don't the Euro notes have a serial indicating their issue/print location, a bit like coinage?
    There was a slight bit of panic around Greek euro notes not too long ago. Perhaps somewhat unfounded.

    It does not matter where the things are printed. This is in the tinfoil hat area.


  • #38
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    ezra160192 wrote: »
    Hey. So i Have a bit of savings in the bank. Honestly who knows what will happen to the eurozone after brexit but I want to be prepared as possible for the worst outcomes. Obviously one of these outcomes will be the euro plummeting or worse just disappearing all together.

    We know exactly what will happen to the Euro, the Dollar, the Franc etc... absolutely nothing. And if anything was to happen to anyone of those currencies then it would not matter what currency you had been using, you'd be screwed.


  • #39
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    Allinall wrote: »
    I've my money split between the German Euro and Canadian Dollars.

    I swap between both currencies regularly, tracking the CSI in France.

    Think it's working so far.

    There is not such thing as German Euro, it does not matter where they are printed. And BTW, German has a long history of letting financial institutions fail, so good luck with that.

    Your strategy worked so far because the type of event you are trying to defend against has not happened. The ECB and the SNB have the deepest pockets, if either of them get wiped out then it will not matter what currency you have been using, you'll be screwed.


  • #40
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    pearcider wrote: »
    Gold is God’s currency. It has no counter party risk and cannot be printed hacked or created from other substances.

    Gold is just a commodity, but unlike other commodities it's value can be driven by fear and greed. Treat it exactly the same as any other commodity and diversify.


  • #41
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    drunkmonkey wrote: »
    Ahh cause everyone outside of Europe thinks we're on a sinking ship. The banks are in a jocker, were about to lose one our biggest countries and the German economy is looking like a clapped out beetle.

    Stop listening to the talking heads and do some proper research.


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  • #42
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    JMMCapital wrote: »
    Gold is a great investment. Most money managers worth their salt suggest you keep 5-10% your portfolio in gold are you saying they are idiots?

    Gold is a commodity and like any other in a big portfolio for diversification purposes it is recommended to hold a small amount in commodities. But in 30 years working in the business I have never come across a fund manager recommending you hold 5 - 10% in gold, usually the strategy is to hold between 5 - 7% in total in commodities.


  • #43
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    JMMCapital wrote: »
    Yes they do. John Paulson, Stanley Druckenmiller, Ray Dalio, Paul Tudor Jones, Peter Schiff, Jim Rogers to say the least I could name hundreds.

    They are all hedge fund managers, so unless you are going to manager your investments as a hedge fund, holding a high percentage of a fund in hold as part of a hedging strategy is very different to using it for diversification purposes.


  • #44
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    davegilly wrote: »
    What about Oil? As there is a finite supply then surely the only way is up? Over time obviously! And any middle East craziness will only drive the price up also, no?

    June 2008: $164 a barrel, August 2019: $55... the only way is up? Seriously! Have you heard of the green movement?


  • #45
    JMMCapital
    Registered Users, Registered Users 2 Posts: 373 ✭✭JMMCapital


    Jim2007 wrote: »
    Gold is a commodity and like any other in a big portfolio for diversification purposes it is recommended to hold a small amount in commodities. But in 30 years working in the business I have never come across a fund manager recommending you hold 5 - 10% in gold, usually the strategy is to hold between 5 - 7% in total in commodities.

    Yes Jim I know that but you have to admit it is a good investment specially in the current environment it has numerous benefits which people tend to overlook.


  • #46
    Victor
    Registered Users, Registered Users 2 Posts: 78,690 ✭✭✭✭Victor


    davegilly wrote: »
    What about Oil? As there is a finite supply then surely the only way is up? Over time obviously! And any middle East craziness will only drive the price up also, no?
    When the price of oil goes up other sources of oil, that would be otherwise uneconomic to operate, become economic.


  • #47
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    JMMCapital wrote: »
    Yes Jim I know that but you have to admit it is a good investment specially in the current environment it has numerous benefits which people tend to overlook.

    You may think that, but I certainly don't. It's a commodity that can have a good impact as part of an over all portfolio strategy. But it has one major disadvantage over other commodities - it's value is often determined by fear and greed.


  • #48
    SlowBlowin
    Registered Users, Registered Users 2 Posts: 1,924 ✭✭✭SlowBlowin


    I know several people who have large sums in German Euro.

    That is euros in a German bank, the idea being that Germany would never devalue their euro due to their huge surplus.

    Here's an page on it.

    https://www.poundsterlinglive.com/eurusd/10606-the-euro-ends-when-germany-is-ready-to-print-deutsche-marks-again-greece-s-varoufakis


  • #49
    dxhound2005
    Registered Users, Registered Users 2 Posts: 22,587 ✭✭✭✭dxhound2005


    If there is a predicted Euro collapse, this will cause panic. All the good advice about drip feeding money into different assets will go out the window. People will pile into gold or whatever is flavour of the month.

    The thing to watch out for now, is those with an interest in certain assets trying to stoke a feeling of panic, to make a killing from whatever they are holding. I saw something similar when there was a bank share flotation. A lot of advice suddenly appeared warning prospective investors off, and extolling the virtues of another bank's shares.


  • #50
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    SlowBlowin wrote: »
    I know several people who have large sums in German Euro.

    That is euros in a German bank, the idea being that Germany would never devalue their euro due to their huge surplus.

    Here's an page on it.

    https://www.poundsterlinglive.com/eurusd/10606-the-euro-ends-when-germany-is-ready-to-print-deutsche-marks-again-greece-s-varoufakis

    And you base this kind of nonsense on a complete failure such as Yanis Varoufakis, a man who led his country to the brink of disaster and then was clueless what to do other than run away. Good luck with that kind of advisor.

    Oh and by the way, the huge Euro surplus is held by the SNB.


  • #51
    SlowBlowin
    Registered Users, Registered Users 2 Posts: 1,924 ✭✭✭SlowBlowin


    Jim2007 wrote: »
    And you base this kind of nonsense on a complete failure such as Yanis Varoufakis, a man who led his country to the brink of disaster and then was clueless what to do other than run away. Good luck with that kind of advisor.

    Oh and by the way, the huge Euro surplus is held by the SNB.

    I said I know several people, it was one of them who showed me the video.

    I do not have a German bank account.


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  • #52
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,794 Mod ✭✭✭✭Jim2007


    dxhound2005 wrote: »
    The thing to watch out for now, is those with an interest in certain assets trying to stoke a feeling of panic, to make a killing from whatever they are holding. I saw something similar when there was a bank share flotation. A lot of advice suddenly appeared warning prospective investors off, and extolling the virtues of another bank's shares.

    You obviously need to get out more... as this practice is very very common for all flotations.


  • #53
    dxhound2005
    Registered Users, Registered Users 2 Posts: 22,587 ✭✭✭✭dxhound2005


    Jim2007 wrote: »
    You obviously need to get out more... as this practice is very very common for all flotations.

    As is the rumour mongering that X country has fired up their printing presses to produce Drachmas, Punts or whatever, due to the imminent collapse of the Euro. And financial journalists are not immune to trying to make money out of this game. So again everyone be careful to consider whether there is an ulterior motive when someone tries to push a particular asset, or tries to rubbish the Euro.

    https://www.theguardian.com/media/2005/dec/08/pressandpublishing.mirror1


  • #54
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,800 ✭✭✭✭Marcusm


    LeinsterDub wrote: »
    Where they are printed makes no odds it's one currency

    While it remains functioning you are correct. However, few arrangements are in place to deal with any collapse. Back in 2010, greater demand existed for Bundesbank series notes as these are its liability and would be expected to have greater backing in the event if a collapse. Likewise deposits in German banks would likely get redenominated in a new German currency whereas deposits in Irish Banks would get redenominated in any new Irish currency. If the euro collapsed, these would not, at least in the immediate aftermath, maintain parity of value.


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