Home Site Map

 
Go Back   Kitco Forums > The Markets > The Economy, Banking, Markets and Global Stocks discussion group
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

Reply
 
Thread Tools Display Modes
  #21  
Old 05-17-2012, 04:32 PM
beachman beachman is offline
Member
 
Join Date: Nov 2011
Posts: 195
Default

Yea.... I would exchange it to dollars or Swiss Franc.

Depending on how much money you have, I would open a premier account with HSBC.
Reply With Quote
  #22  
Old 05-18-2012, 01:04 AM
Fitero's Avatar
Fitero Fitero is offline
Member
 
Join Date: Oct 2009
Posts: 64
Default

Just some info; Andorra, though lovely, is expensive, and the population density is much higher than Asturias and Galicia. Average annual rainfall is also less than Asturias and Galicia. Both of these provinces have moderate climates, and receive less snow than Andorra. Easier to survive without being noticed. Most older houses in Galicia have their own well. Many have artesian springs.

Last edited by Fitero : 05-18-2012 at 10:14 AM.
Reply With Quote
  #23  
Old 05-18-2012, 01:49 AM
ChrisofAmerica's Avatar
ChrisofAmerica ChrisofAmerica is offline
Member
 
Join Date: Mar 2011
Posts: 90
Default

Quote:
Originally Posted by beachman View Post
Yea.... I would exchange it to dollars or Swiss Franc.

Depending on how much money you have, I would open a premier account with HSBC.
The Swiss have pegged the Franc to the Euro and are committed to buying euros to insure a runaway Swiss Franc doesn't happen
Reply With Quote
  #24  
Old 05-18-2012, 06:12 AM
Lorian's Avatar
Lorian Lorian is offline
Member
 
Join Date: Mar 2011
Posts: 4,997
Default

Quote:
Originally Posted by StephenHawkinsVoiceBox View Post
I live in Spain. As we all know things are getting pretty bad here at the moment. Greece looks like it is going to implode fairly soon. The people are getting their euros OUT of the banks (almost a Billion euros since 6th May).

Apart from precious metals/food etc etc what would you recommend I do with the few euros that I have tied up in a Spanish bank should I wish to remove it.

Is there anything I could do you offset a collapse of the euro and preserve what I have? Excahnge it for a different currency?

Any answers would be gratefully received.
Did you already hoard enough stuff that you would have to buy over a year or 5 or 10 anyway?
If so, exchange it for a different currency, XAG is a good one at the moment.
__________________
the void
Reply With Quote
  #25  
Old 05-19-2012, 01:08 PM
Silvercoin's Avatar
Silvercoin Silvercoin is offline
Member
 
Join Date: Mar 2008
Posts: 7,272
Default

To the original poster :

Get your Passport.and travel documents in order and buy a plane ticket. The flood of people trying to get out once you the collapse begins will lead to closing of visa issuing offices for foreign countries.

If you don't have citizenship somewhere else and you are stuck where you are, build a large stockpile of food and other basic essentials like toothpaste, soap, toothbrushes, medicine..etc. Get lots of your prescription meds.etc.

Finally stockpile lots of US and Canadian dollar CASH. Leave nothing in a bank.
Reply With Quote
  #26  
Old 05-19-2012, 01:27 PM
cpr_metro's Avatar
cpr_metro cpr_metro is offline
Member
 
Join Date: Jun 2009
Posts: 656
Default

YES, Open at HSBC outside of the USA, iike in Hong Kong where they are still accepting accounts from USA citizens. If you are of the opinion that the US Dollar will be stronger temporarily, but want a hedge in the event of a dollar devaluation, I would buy the Hong Kong Dollar which is currently pegged to the US Dollar. The HK economy is VERY strong. If the USD went into the crapper I think they would either unpeg or repeg favoring the HKD.
Reply With Quote
  #27  
Old 05-19-2012, 01:30 PM
cpr_metro's Avatar
cpr_metro cpr_metro is offline
Member
 
Join Date: Jun 2009
Posts: 656
Default

Regarding Plane Tix, thats a good idea. I believe that you can buy a 1st Class ticket that has the privilege of rescheduling without fees. It makes sense to buy one, and then re-sked your flights once a month so you will always have a ticket to leave !
Reply With Quote
  #28  
Old 05-19-2012, 01:37 PM
seascape195's Avatar
seascape195 seascape195 is offline
Member
 
Join Date: Jun 2011
Posts: 2,514
Default

Quote:
Originally Posted by Silvercoin View Post
To the original poster :

Get your Passport.and travel documents in order and buy a plane ticket. The flood of people trying to get out once you the collapse begins will lead to closing of visa issuing offices for foreign countries.

If you don't have citizenship somewhere else and you are stuck where you are, build a large stockpile of food and other basic essentials like toothpaste, soap, toothbrushes, medicine..etc. Get lots of your prescription meds.etc.

Finally stockpile lots of US and Canadian dollar CASH. Leave nothing in a bank.
Hmmm.. so, are you saying leaving cash in the bank during more debasing printing is different than holding that same cash stashed away at home? The security of it being in your hands aside, your buying power for that fiat gets devalued just as much at home as it does in the bank, right?? I'll say it again, the security of having it in your hands vs the bank not-withstanding, strictly in reference to the buying power it has, location of it is irrelevant, right?? Investing it into a better wealth preservation means is the only way to keep its purchasing power. Trade fiat for an appreciating asset, after debasement plays out, sell that asset for (at least) the cost+ the loss in fiat purchasing power from said debasement. Wealth was preserved, anything less is a loss of purchasing power. if you held that cash in your hands instead of moving it to an appreciating asset, it lost the debased purchasing power, same as if it was sitting in the bank (more or less), bank you would have at least got a crappy .05% interest return. Did I miss something or miss interpret that cash position?
__________________
"An investment in knowledge always pays the best interest."
- Benjamin Franklin

"Knowledge talks, wisdom listens."
- Jimi Hendrix

United we stand, Divided, we fall.
Reply With Quote
  #29  
Old 05-19-2012, 01:42 PM
Llama Dog Llama Dog is offline
Member
 
Join Date: Mar 2012
Posts: 1,163
Default

If I had a considerable amount of , and lived in the E.U, i'd leave immediately.

I'd leave yesterday.
Reply With Quote
  #30  
Old 05-19-2012, 07:40 PM
lenny_k lenny_k is offline
Member
 
Join Date: Apr 2012
Posts: 166
Default

Quote:
Originally Posted by Silvercoin View Post
To the original poster :

Get your Passport.and travel documents in order and buy a plane ticket. The flood of people trying to get out once you the collapse begins will lead to closing of visa issuing offices for foreign countries.

If you don't have citizenship somewhere else and you are stuck where you are, build a large stockpile of food and other basic essentials like toothpaste, soap, toothbrushes, medicine..etc. Get lots of your prescription meds.etc.

Finally stockpile lots of US and Canadian dollar CASH. Leave nothing in a bank.
This is complete nonsense! Spain is too big to fail. It would take months before the whole system collapsed entirely. I would gradually move cash into PM's but without panicking.
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 11:26 PM.


Copyright@ 2007 Kitco Inc.