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USD Account ($2)

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    USD Account ($2)

    Now that the USD/GBP has gone over $2 (me love you long time) is this now an oppotunity to make some dosh. Anyone know the best way of doing this. Was thinking of opening a $ Account.
    Any other ideas?

    #2
    Buy tulip loads of dollars, wait for the prices to adjust back into the yanks favour and sell up. Is that illegal, or do you just have to be a bit cunning to get away with it?

    Often wondered whether it's possible to cash in on the exchange rate discrepancies when looking up multiple currencies.
    "If it floats, flies, or f***s, lease it." - Evel Knievel when he wasn't jumping buses or women

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      #3
      don't think it's illegal to open a USD account - hsbc and bank of scotland do them. going to hsbc lunch time to ask.

      Comment


        #4
        Originally posted by TheRightStuff
        Now that the USD/GBP has gone over $2 (me love you long time) is this now an oppotunity to make some dosh. Anyone know the best way of doing this. Was thinking of opening a $ Account.
        Any other ideas?
        A lot of the 'experts' in the FT, Times, etc seem to think the $US is going to fall a lot further yet so maybe not such a good idea quite yet. However some of the same experts seem to think that Sterling will also tank at some stage. Both the US and UK have been living beyond their means for a good while and running big deficits and eventually the currencies will suffer. Maybe open a Yen or Euro account !?

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          #5
          historically the GBP/USD is $1.6 so I'd wait untilt then.

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            #6
            So buy euro's and wait for the pound to drop as well before buying back? Is there a more stable currency than the euro?
            Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson

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              #7
              Originally posted by Captain Dispensable
              Often wondered whether it's possible to cash in on the exchange rate discrepancies when looking up multiple currencies.
              There was a lad at school with me whose dad did that for a living.
              Insanity: repeating the same actions, but expecting different results.
              threadeds website, and here's my blog.

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                #8
                Originally posted by threaded
                There was a lad at school with me whose dad did that for a living.
                Ah, was it Mr Schwartz' little boy, György?

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                  #9
                  Originally posted by TheRightStuff
                  Now that the USD/GBP has gone over $2 (me love you long time) is this now an oppotunity to make some dosh. Anyone know the best way of doing this. Was thinking of opening a $ Account.
                  Any other ideas?
                  It's easy to open a USD account in the UK. Normally you need to keep a high balance in it though. It fine if, like me, you have income/expenditure in USD, but it's crap for FX speculation because the exchange rate the bank charge is rubbish.

                  There are far better ways to speculate on FX.
                  Drivel is my speciality

                  Comment


                    #10
                    Originally posted by Buffoon
                    It's easy to open a USD account in the UK. Normally you need to keep a high balance in it though. It fine if, like me, you have income/expenditure in USD, but it's crap for FX speculation because the exchange rate the bank charge is rubbish.

                    There are far better ways to speculate on FX.
                    In that case can you let us know what are the other ways?
                    Cater Allen are giving an exchange rate of 1.998415 and an interest rate of 4.13% (>$10K) or 4.59% (>$25K). Doesn't sound too bad to me.

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