Euro CDs

[DWPC]

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?

 

[haha]

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

 

[DWPC]

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.

 

[Andy R]

I felt the same way. Here is a link to the discussion from earlier this year. Up 15% from this bet so far...

 

[DWPC]

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.

 

[FIREd]

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.

 

[Florida]

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.

 

[DMS]

Declining Dollar

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