Foreign Currency Account?

[Ag_man]

What you you folks think about opening a foreign currency account with Everbank? And if so, what currency would be the best choice?
http://www.everbank.com/001Currency.aspx

I know it is still a US bank and not the same as holding an offshore account.

[cigarlover]

If you are talking 10k or more then the Chinese Rinminbi should hold up above all others.. JMHO though

[ConfusedUs]

The Swiss Franc is partially backed by gold. Altho due to Swiss secrecy, no one is sure exactly how much exposure to bad debt they are exposed to. Your money may not move up much with the Swiss Franc, but it probably won't go down much, either.

[Plastic]

How about wampum?

[ShinyThings]

For safety, I would hold Swiss Francs. It is one of the funding currencies of the carry trade. When stock markets crash, the franc gains value. If you have enough to swing it, I would also hold Aussie dollars. As the commodity bull continues, the AUD will benefit. This is also an offset for Swiss Franc, as the AUD is often the bought currency of the carry trade.

If you want renminbi, consider MEAFX, Merk Asian currency fund which holds 43% renmindbi.

ST

[Buster]

They have several currency baskets which can spread the risk a bit. Settle in dollars which could save some exchange fees. Used to have some cds linked to gold $ price movements.