Comments on: Out of Dollar, Into Yuan http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 02 Oct 2011 19:26:45 +0000 hourly 1 http://wordpress.org/?v=abc By: Petr http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/comment-page-1/#comment-3483 Petr Thu, 25 Oct 2007 21:34:08 +0000 http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/#comment-3483 Great Post. I am totally looking for non US based investments at the moment. US currency is becoming more and more unstable especially with all of the additional dollars created by the Federal borrowing. I've bought some Silver ETFs and silver coins to preserve some value. I think your idea to diversify into Chinese currency is a good bet. Sooner or later US $ is going to collapse since banksters are printing money like toilet paper. As far as the housing loan crisis, that was the biggest farce there is. Tons of money was made, then all the debt was repackaged and resold back to consumers into their 401k. I was shocked to find that out of the three 401k accounts I have (two from previous employers) all switched from government bond funds to Ginie Maes. Go figure :(, but now they want government to bail out the banks? Funny. Great Post. I am totally looking for non US based investments at the moment. US currency is becoming more and more unstable especially with all of the additional dollars created by the Federal borrowing. I’ve bought some Silver ETFs and silver coins to preserve some value. I think your idea to diversify into Chinese currency is a good bet. Sooner or later US $ is going to collapse since banksters are printing money like toilet paper.

As far as the housing loan crisis, that was the biggest farce there is. Tons of money was made, then all the debt was repackaged and resold back to consumers into their 401k. I was shocked to find that out of the three 401k accounts I have (two from previous employers) all switched from government bond funds to Ginie Maes. Go figure :( , but now they want government to bail out the banks? Funny.

]]> By: Jason http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/comment-page-1/#comment-3481 Jason Wed, 24 Oct 2007 17:36:20 +0000 http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/#comment-3481 doesn't that assume that China will stop purposefully devaluating their currency? doesn’t that assume that China will stop purposefully devaluating their currency?

]]> By: Novice http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/comment-page-1/#comment-3480 Novice Wed, 24 Oct 2007 16:03:20 +0000 http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/#comment-3480 Frugal, Sorry I don't have to source to cite. Read in the last 7 days that of all the US physical dollars in circulation, a full 20% of the value is "backed" by gold held by the US government. In contrast, the Canadian government does not hold much gold at all. I think it would be a useful exercise for all of us to get some figures of the top 5 or 10 gold holding governments. Frugal,

Sorry I don’t have to source to cite. Read in the last 7 days that of all the US physical dollars in circulation, a full 20% of the value is “backed” by gold held by the US government. In contrast, the Canadian government does not hold much gold at all. I think it would be a useful exercise for all of us to get some figures of the top 5 or 10 gold holding governments.

]]> By: Lawrence Chiu http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/comment-page-1/#comment-3479 Lawrence Chiu Wed, 24 Oct 2007 14:11:24 +0000 http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/#comment-3479 Jim, check out my blog on currency ETF's. http://lcmarket.blogspot.com/2007/10/usd-taking-it-on-chin-today.html There isn't an ETF for yuan yet but Rogers is also buying yen and there's one for that. Jim, check out my blog on currency ETF’s.
http://lcmarket.blogspot.com/2007/10/usd-taking-it-on-chin-today.html

There isn’t an ETF for yuan yet but Rogers is also buying yen and there’s one for that.

]]> By: James http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/comment-page-1/#comment-3478 James Wed, 24 Oct 2007 13:19:58 +0000 http://www.1stMillionAt33.com/2007/10/out-of-dollar-into-yuan/#comment-3478 In your opinion, what would be the best way to invest in foreign currency, say yuan, from a retirement account? In your opinion, what would be the best way to invest in foreign currency, say yuan, from a retirement account?

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