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US dollar - good investment?

Bingbong Avatar
9y, 1m agoPosted 9 years, 1 month ago
Hi, what do people think about buying US dollars as an investment? My neighbour bought £2k worth of dollars and said it's worth the money?!

Is he a loony or should I be tempted, sell my house and use the money to buy US dollars??!
Bingbong Avatar
9y, 1m agoPosted 9 years, 1 month ago
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#1
Has he just bought them and keeping them under his bed? No interest while waiting for the Dollar to strengthen again. You also lose out a percentage on buying and then selling them.
#2
Bingbong
Is he a loony or should I be tempted, sell my house and use the money to buy US dollars??!


LOL :lol:

I'm getting married in Florida next year so will be buying a load soon.
[mod]#3
Bingbong

Is he a loony or should I be tempted, sell my house and use the money to buy US dollars??!


YES!! :w00t: Sell everything you own and snap them up. :thumbsup:



Don't know what you're going to do for the next 5-10 years though while you're waiting for the US economy to recover. :giggle:
banned#4
Bingbong
Hi, what do people think about buying US dollars as an investment? My neighbour bought £2k worth of dollars and said it's worth the money?!

Is he a loony or should I be tempted, sell my house and use the money to buy US dollars??!


Barking mad. The dollar will continue to go down as it has been doing so. No doubt it will recover at some point, but as an investment?

The only reason to buy $ is if you are going there or somewhere that uses it as currency.

Ive got $1500 left from my last trip in April...wished Id blown the lot now. Pointless changing back - but losing interest and value by the day!
#5
Worth buying from America though if it works out cheaper. :)
banned#6
£2000 worth!- must have more money than sense
#7
spudgun
Has he just bought them and keeping them under his bed? No interest while waiting for the Dollar to strengthen again. You also lose out a percentage on buying and then selling them.


Actually, yes... the currency is just being kept in his house. That's the part I don't like. If money like that was in my house, my children will find the it, think it's toy money and either stick the whole lot down the loo or use it as confetti and throw the whole lot in our garden :w00t:
#8
Experts are saying the dollar should fall to around 2.2 or around there so would buy just yet, and it is high risk.
#9
dont do it , people make money out of projections used as a guarantor on a cash base but its very very risky , long term projections , other than that people buy currency with the hope it will move a large amount , figure say you have 100000 to play with so buy some euros and they rise in value by 1% over night you just made a 1000 , not bad for a days work , as a projection of a yr thats 364,000 profit ,,,,,, no use to know this at all if you dont know the money markets or have a hundred grand available
#10
Thanks all. The thumbs down will mean my family will have a roof over their heads for Christmas. :santa:

These get-rich-quick schemes are not for faint hearted. Oh, if only they brought back the Green Shield stamps. Life was much simpler then! :whistling:
#11
stanley
Experts are saying the dollar should fall to around 2.2 or around there so would buy just yet, and it is high risk.


These so called " experts " know nothing for certain, they can only make educated guesses like the rest of us.;-)
#12
stanley
Experts are saying the dollar should fall to around 2.2 or around there so would buy just yet, and it is high risk.


Do you have a source for this as I'm going at EAster and wondering when to change money. I have about £2k currently.
#13
part2
Do you have a source for this as I'm going at EAster and wondering when to change money. I have about £2k currently.


Trust me, there are no " experts " that can guarantee how a currency will go from one day to the next, my advice, if you are happy with today's rate, then go for it.
banned#14
part2
Do you have a source for this as I'm going at EAster and wondering when to change money. I have about £2k currently.


Everything is always a gamble. Next week something might happen in the UK and the £ take a nosedive. But gut instincts are usually good to go by. The $ is weak and there are no signs from anywhere that this is going to change.

If it was me going next Easter, I would hang fire. Maybe set youself a target "if it reaches $X to the £1" jump in at that point. But the truth is no one can say for 100% certainty what is going to happen.

Have you had a look at the crown exchange site? They always give a good deal - where you pay now and they give you a guarranteed rate for the date you choose to collect. Ive used them in the past - and been happy with what Ive got. Never lost anyway - even though when I went last Easter, the $ did fall to near enough the rate I got for jumping in when I did. But at least I had peace of mind - which is the important part for me.

Edit just took a quick look. Currently its $2.10 for the time you want to go.

http://www.crowncurrencyexchange.com/assets/images/rates/rhs_offer.gif
#15
Exactly what I was thinking tbh. The experts saying 2.2 will be employed by people with loads of dollars, and they'll all offload much earlier.
#16
guv

Have you had a look at the crown exchange site? They always give a good deal - where you pay now and they give you a guarranteed rate for the date you choose to collect. Ive used them in the past - and been happy with what Ive got. Never lost anyway - even though when I went last Easter, the $ did fall to near enough the rate I got for jumping in when I did. But at least I had peace of mind - which is the important part for me.


I did have a look a few weeks ago. Good to hear someone has used them. I'll go and have a look again:)
banned#17
part2
I did have a look a few weeks ago. Good to hear someone has used them. I'll go and have a look again:)


Yeh, Ive used them twice. But if you nip over to [url]www.thedibb.co.uk[/url] you will find an awful lot of people who do use them. Ive never heard of any problems.

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