I have been hearing alot about Euros lately. how do i setup a bank account in euros living in the us> thanks in advance
kevin
kevin
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Free registration at the forum removes this block.I have been hearing alot about Euros lately.
just my 2 cent tidbit here for long term macro thinking- the Euro can only do as well as the US$... remember that currency trading is a zero sum game: at the end of the day, the currencies are all pitted against each other thus the cummulative values remain constant and European economy is dead meat if the US economy continues to slide... the currency game is really headlined by gold vs. US$ and/or yuan vs. US$.
you will need a sharp eye for bond trading to win this game to determine how much the yuan climbs against the US$.
my opinion is while trading Euro can be profitable, long term speculation of buying Euro means you are aligning with US$ at this juncture.
if anyone here has a subscription to the Atlantic Monthly, please refer to the state of the nation article regarding the Chinese ownership of the US$/treasuries for probably one of the best primers regarding the dynamics of US$ currency ... I wish I can post it here, but I cant access the site.
this is definitely not true, since right now new money is pumped into the markets like there is no tomorrow, and most of it is US$...currency trading is a zero sum game: at the end of the day, the currencies are all pitted against each other thus the cummulative values remain constant
and this, I believe, is also a little exaggeration. Personal debt and savings are in a much better condition in good ol' europe, so I'd be surprised if things get worse than in the US. But for every two analysts you get four opinions these days...and European economy is dead meat if the US economy continues to slide.
You can get a liberty reserve account if you have a business and have people pay you in euros/usd/gold.
The euro is going down. Probably parity by end of 1st or second quarter.
Going top take a major screw up in the US to stop it.
BTW The yen is smokin hot right now. kickin both their arses.
this is definitely not true, since right now new money is pumped into the markets like there is no tomorrow, and most of it is US$... ...
and this, I believe, is also a little exaggeration. Personal debt and savings are in a much better condition in good ol' europe, so I'd be surprised if things get worse than in the US. But for every two analysts you get four opinions these days...
I have been hearing alot about Euros lately. how do i setup a bank account in euros living in the us> thanks in advance
kevin
new money pumped into the markets further skews the dollars value so the dollar is and always will be pitted against other currencies to determine its own intrinsic value. my statement is absolutely correct.
As bad as American banks got nailed, the European banks have already succumbed to their plank walks...
largest banks of England, Germany, Belgium, Iceland among others have already been nationalized. now people are holding their breath for Swiss and Scandavian countries to follow suit....
the real kicker is that european banks & IBs are leveraged at higher rates (up to 50x) vs. Americans at 8x-12x
go look at unemployment histories for europe vs. USA.... chart is here:
http://www.ncpa.org/pub/ba/ba475/ba475.pdf
a little insight to european problems:
Explaining European Unemployment
if what you say is true, then you should be buying loads of european equities with US dollars but I am not sure where you get the impression that Europe is in better shape, but if you have data that proves my thinking and data are wrong I'll be the first to buy you a beer .
Our guess is that China, Russia, Brazil, and India, affectionately known as the BRICs are
change‐agents for the rest of the emerging market (EM) world. And our next guess is
that banks with the most lending to the EMs could some under some serious pressure
given the seeming drought of liquidity flowing their way. And by extension of these
guesses, we guess there will be multiple EM defaults sometime in the future. And by
use of real logic, one would expect those holding most of the paper that may be
defaulted upon would feel some pain.
Thus, the fact (or statistic we saw) that European banking holds (incredibly) an
estimated $4.4 trillion of the $4.8 trillion in loans to EMs suggests to us that more
SUBSTANTIAL pain could be heaped on the Eurozone banking system adding to the
already tremendous stresses we know are in the system. Thus, the idea that the euro
will challenge the US dollar for world reserve currency is a “rational†thought bubble
that could pop in a very big way.
Just got another view from Black Swan Capital
Our guess is that China, Russia, Brazil, and India, affectionately known as the BRICs are
change‐agents for the rest of the emerging market (EM) world. And our next guess is
that banks with the most lending to the EMs could some under some serious pressure
given the seeming drought of liquidity flowing their way. And by extension of these
guesses, we guess there will be multiple EM defaults sometime in the future. And by
use of real logic, one would expect those holding most of the paper that may be
defaulted upon would feel some pain.
thanks for the link.... that looks like a good service, how are you doing with it?
Russia and Brazil have been making money hands over fists with their oil exports.... now that oil pricing is pressured down, you can bet your bottom dollar, ruble or real that Russia & brazil are going to feel squeezed every which way.
....
knowing that it's absolutely a traders market, I'm still not too sure if anyone has the cojones to trade euros against the US dollar... Spain's unemployment at 13.9% with more to come. UK and other countries hitting multi year highs with more expected.
“This is going to continue because there’s no motor in the Spanish economy that allows us to see an improvement in the labor market,†he said.
Bloomberg.com: News
and now... even worse news for Europe? looks like theres policy pressure to bring UK rates to zero....
Bloomberg.com: News
we've already seen an amazing unprecedented flight to US treasuries just this year and we'll probably see it again
:bsflag:hmmmmm
I think we're about to watch Europe blow up.... the USA was leveraged thick, but Europe was much more leveraged and it's unwinding now in a big way. Lot's of articles out there regarding currencies... and saw that Japan's economy is starting to crack again....
looks like US$ is going to be the creme of currency for a while
There is a bank called Everbank in Florida that allows you to hold Euros in a cd. It is FDIC insured. The other option is to go offshore. It is pretty easy to open a Euro denominated bank account in Panama. Just make sure that you get an attorney if you are planning to do offshore.
US$ continues to be refuge and safe haven and will be for quite some time.
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