Safest Currency?

jago25_98

Now that we're devaluing the pound, a rip off just like bank bail outs I wonder,

how are other currencies doing?

Do you know of any that are doing better than us?

Rochdale_Pioneers

The Dutch Gilder is the only safe currency.

Cleaver

jago25_98 wrote: »

how are other currencies doing?

Do you know of any that are doing better than us?

The Mongolian Krone was the recent winner of the 2008 Currency World Championship, which was held in Denmark. It beat the Chilean Dinar on penalties in a thrilling final.

globalds

Iraqi Dinar is on the way up

Yoshua

If you bought Japanese Yen with your pounds not long ago you would have doubled your money already and soon (asuming the pound get even weaker) its looking like your money has gone up a lot more.

Its still worth buying Yen now and holding it, not trusting banks or anyone.

Im sure those in Iceland wish they bought Yen when they were in the same place us Brits are in now.

StevieJ

Cleaver wrote: »

The Mongolian Krone was the recent winner of the 2008 Currency World Championship, which was held in Denmark. It beat the Chilean Dinar on penalties in a thrilling final.

I bet the old Italian Lira would have tonked them both with its hands tied behind its back

Degenerate

The safest currency is the one of the country you live and work in - as the Icelanders and now the Hungarians are finding out.

StevieJ

Degenerate wrote: »

The safest currency is the one of the country you live and work in - as the Icelanders and now the Hungarians are finding out.

Correct 10 ot of 10, you have to make sure you match your liabilites.

econo_2

Yoshua wrote: »

If you bought Japanese Yen with your pounds not long ago you would have doubled your money already and soon (asuming the pound get even weaker) its looking like your money has gone up a lot more.

Its still worth buying Yen now and holding it, not trusting banks or anyone.

Im sure those in Iceland wish they bought Yen when they were in the same place us Brits are in now.

You could do this comparison looking at hindsight with a hat of investments; gold being the most obvious and that still looks a far better gamble than the Yen long term.

Furthermore while correct up to now in this turmoil, this doesn't take into account any repositioning the Japanese government may try and do to weaken the Yen. They will not let things remain forever.

Also, in the short term, it is too simplistic (not meaning you have said this Yoshua) to just equate an increase in money supply to a falling currency. The Dollar has done the complete opposite even though it should have collapsed already. In the end it is inevitable it will, but who knows how long its swan song will last and manipulation by many countries trying to prevent it will hold on.

Generali

StevieJ wrote: »

I bet the old Italian Lira would have tonked them both with its hands tied behind its back

The trouble with the Italian Lira would their slavish adherence to the Catenaccio (door bolt) system - it's just not suited to modern political economics where the trend is to use it after the horse has gone.

jago25_98

Degenerate wrote: »

The safest currency is the one of the country you live and work in - as the Icelanders and now the Hungarians are finding out.

I heard that Iceland went bankrupt, but I don't know who now owns Iceland during that bankruptcy procedure.
I'm guessing you are saying that both Iceland and Hungary tried to use alternative currencies to avoid inflation from money printing? I can't find much info on this
Did people get in trouble for avoiding the inflation on thier currency?

I guess if alternative currency was attempted this would redirect power away from those creating that currency.

Who is recieving the new money? I heard that assets are being bought with it but I don't know who owns those assets. Whatever is in control of the Bank of England must own them I guess.


edit: I think I've figured it out, it's forcing them to join the euro, because the public don't want to join because they know what it means(56% opposed). So the answer I guess is, whoever owns the Euro now owns Iceland.