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Euro CDs
Old 09-09-2009, 09:09 PM   #1
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Euro CDs

I believe that the US$ is going to get slammed hard and soon. I was surprised to find only one bank; Everbank in FL, advertising CDs in euros; almost non-existent interest but FDIC insured. Is anyone else looking for ways to hedge against a falling dollar other than metals?
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Old 09-09-2009, 10:39 PM   #2
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Originally Posted by DWPC View Post
I believe that the US$ is going to get slammed hard and soon. I was surprised to find only one bank; Everbank in FL, advertising CDs in euros; almost non-existent interest but FDIC insured. Is anyone else looking for ways to hedge against a falling dollar other than metals?
You have the tense wrong. The USD has been slammed hard already.

I suppose it may continue, but at this point there is a lot of weight on the sell dollar bandwagon and there might be a pretty good snapback.

ha
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Old 09-10-2009, 12:12 AM   #3
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The USD has been slammed hard already.
I'm looking at current levels vs a year ago. The US$ is still several points higher than its 08 low vs the euro, and I think that's unsustainable.
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Old 09-10-2009, 12:18 AM   #4
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I felt the same way. Here is a link to the discussion from earlier this year. Up 15% from this bet so far...
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Old 09-10-2009, 11:10 AM   #5
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Thanks for linking. I searched on "euro" and that thread didn't come up. FDIC notwithstanding, I'm still a little leery of the banks; I think lots are still in deep doo-doo but the Fed has them on life support. We moved all our cash to a federal credit union.

I looked into Everbank but when I saw that it has a substantial mortgage business that I assume is largely in the FL market, plus their being essentially a local FL bank, I backed off. I was hoping to find European banks with US operations that sold euro CDs, but came up empty. I don't like currency ETFs (e.g. FTX) because of commissions.

I worked in Canada for a few years in 80s and Canadian banks offered accounts in many currencies. US banks act like the US$ is the only currency.
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Old 09-10-2009, 11:18 AM   #6
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I personally keep my Euro deposits in a European Bank with no branch in the US. I can get access to more investment options (savings accounts, CDs, checking account with ATM card to easily access the money states-side, etc...), higher interest rates and still government protection for my deposits.
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Old 09-10-2009, 06:21 PM   #7
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I believe that the US$ is going to get slammed hard and soon. I was surprised to find only one bank; Everbank in FL, advertising CDs in euros; almost non-existent interest but FDIC insured. Is anyone else looking for ways to hedge against a falling dollar other than metals?
Commodities, TIPS and some Canadian banks will open accounts for US citizens. Currency diversification is offered by some.
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Declining Dollar
Old 10-15-2009, 10:15 AM   #8
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Declining Dollar

Has anyone used MERKX or MABFX to protect against a declining dollar?
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