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do this NOW or soon.

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  • do this NOW or soon.

    there was a thread a lil while back with someone asking about the stock market and this thread is for you,..........and anyone else who has cash/saving on hand.

    CONVERT YOUR MONEY INTO EUROS

    i say this as usually the euro is about 60 cents or more valuable than the usd when it's healthy and you have a chance to make some money pretty easy by doing absolutely nothing but keeping it in currency form. it could still drop some more but i'm sure it'll get back to where is usually is in a year or so like it always does.

    think of it this way = if you have $100,000, that would be 83,333 euros at a rate of $1USD to 1.2 euros. if and when it goes back up, the rate will be 1.6 euros to $1 USD. you will make $33,300 on doing nothing.


    vagina, it's what's for dinner.

  • #2
    This sounds like a good idea, but I don't know anyone who has $100,000 laying around right now.

    -Dan

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    • #3
      Not a wise idea me thinks.

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      • #4
        how do you convert, isnt there a percentage fee from companies that do so

        ig: @jonnie86

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        • #5
          Or even us canadians could buy US cash and wait for it to go back up.
          That US dollar has been sitting too close to us for way too long. It's gotta go back up at some point.

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          • #6
            Originally posted by Tuck&Poke View Post
            how do you convert, isnt there a percentage fee from companies that do so
            IN for answers
            @jroc561
            71' 240z, 03' CL55, 04' CayenneTT

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            • #7
              yes, there are fees but nowhere near what you can make. if i had enough money to make a difference i'd do this just for the fact that earning 30% on doing nothing is a great feat when it comes to money.

              here's the idea behind it: the euro is used by the countries which decided to go this route so that they would have a strong currency. in return this is the reasoning of why it's value is always worth more than the usd as there are many countries supporting it's value. you could go this route or the british pound route as they too are at a low right now as well and are another money that is always worth more. what you need to remember it that all this is being affected by greece alone and they are only one of the many countries who use the euro which means there is someone else there to get the value back up. this is unlike the usd which is affected by our country alone which is why our dollar value is always trailing since there is no one else to pick up the slack when we are doing bad. it's a bunch of bullshit in reality but that is how the world works.

              this is the exact reason that the united states is discussing the "amero". more countries = money worth more.

              our money may one day look like this:

              Last edited by chev_chelios; 05-20-2010, 11:40 AM.


              vagina, it's what's for dinner.

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              • #8
                Any idea how much you would have to convert to actually make a decent profit.

                -Dan

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                • #9
                  Originally posted by wheelfetish View Post
                  Any idea how much you would have to convert to actually make a decent profit.
                  its percentage based, so you'd make a profit at any amount if indeed you bought low and sold high. Its much like the stock market but instead of betting on company stock your betting on the strength of the currency of a country.

                  ig: @jonnie86

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                  • #10
                    i've never done this as i don't have that kind of money to make anything worthwhile off it. i do however keep mentioning this to family members but of course they know everything. kind of like how i told them to buy gold and apple stock after the crash LULZ.

                    anyway, if you want to go the safer of the two routes, go the british pound way since their money is actually backed by silver unlike ours and the euro flat-rate system. guess we should of never left gold as our money backer because we'd be a friggin rich economy right now


                    vagina, it's what's for dinner.

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                    • #11
                      What happens if the US dollar goes back up soon? Then you fucked yourself hilariously hard.

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                      • #12
                        Originally posted by chev_chelios View Post
                        i've never done this as i don't have that kind of money to make anything worthwhile off it. i do however keep mentioning this to family members but of course they know everything. kind of like how i told them to buy gold and apple stock after the crash LULZ.

                        anyway, if you want to go the safer of the two routes, go the british pound way since their money is actually backed by silver unlike ours and the euro flat-rate system. guess we should of never left gold as our money backer because we'd be a friggin rich economy right now
                        its much more complicated than that. Your talking about global economics and there are many variables that will affect the strength of a currency, like the countries economy, deficit, inflation which in itself is tied in to many factors. I used to know more about this but its been a few years since i took economics classes.

                        ig: @jonnie86

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                        • #13
                          Originally posted by M.Burroughs View Post
                          What happens if the US dollar goes back up soon? Then you fucked yourself hilariously hard.
                          Well that can generally be said about any investment (stocks, etc). However, this still doesn't seem like an amazing idea because as someone said, you're talking global economics.

                          So basically...eh.
                          Sam | SICKTRACKS

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                          • #14
                            Originally posted by M.Burroughs View Post
                            What happens if the US dollar goes back up soon? Then you fucked yourself hilariously hard.
                            like any bet, nothing is guaranteed and predicting trends consistently is extremely difficult and at some level, impossible. why do you think investment firms are always looking for ways to "cheat" the system and sway the odds in their favor. Hedging is one example. Even if they lose, they win.

                            Your family members are probably reluctant because they know about the risks of those kinds of investments. When its your $100,000 your a bit more careful as to what you do with it.

                            ig: @jonnie86

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                            • #15
                              I definately dont think this is a slam dunk comparing the states of the 2 economies currently. Like mike said, if the US makes a rebound before euro, bad deal.

                              Flickr

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