what currency is safest for my money?

[safest currency]

with another global recession iminent, what currency should i put all my money into? bank of china had told me that i can have it under several currencies of my choice. just until i figure out what to invest my money on as i am a relatively new player at 25 in the financial market

cheers!

[SimonTheBear]

The safest for you is the one you will eventually want it in. If you are American and buy USD now you know just how many USD you will have when you move back. Yes you might have missed out on some gains, but you will have certainty.

[Even]

Two choices, the Chinese RMB that is set to continue its appreciation against the USD or the HKD, currently fixed to the USD that IF maybe one day is de-pegged could then quickly catch up with the RMB in its appreciation.

If it doesn't de-peg, no real loss, just convert to USD at a fixed rate.

The SGD these days is also pretty good against its basket.

[no safe currency]

The "safest" currency is that which constitute the bulk of your expenses. If you expenditure is largely in USD, then keep it in USD. If you spend most of your money in Singapore, then keep most of it in SGD.

Even if you have plenty of cash left over, I don't think you should take a view on currency and invest in FX.  Property is a good hedge against inflation.

[Paddy O'Toole]

The "safest" currency is that which constitute the bulk of your expenses. If you expenditure is largely in USD, then keep it in USD. If you spend most of your money in Singapore, then keep most of it in SGD.

Even if you have plenty of cash left over, I don't think you should take a view on currency and invest in FX.  Property is a good hedge against inflation.

When I bought a house in UK in 1982, thereafter the price was stable for 15 years then it leapt 300%. Today house prices have leapt and leapt, they are exhausted. They will remain flat or fall and when they do the banks will legally inherit the vast number of homes, currently over-priced. Then the banks will return to high street banking rather than reckless speculating.

[It's in the hills]

Gold. Bullion. Move quick it's a snip at $1680 now.

[Dr. Phil]

Gold. Bullion. Move quick it's a snip at $1680 now.

Ever hear of "Buy Low, Sell High"?
Its too late for gold but do not worry.
Like property, it will crash just as the rising USD and GBP will do, once the spoilt Greek children come to terms with their peasant status, kept from them for a decade by their profligate government. And opportunists manipulating currencies have earned their monthly crumb.

The sooner Greece understands its true worth all will be well and I will buy Athens.
Next Portugal, Spain and Italy will re-issue their original currencies but there's nothing there of interest. Perhaps Vatican City as a weekend retreat but that will most likely be time-share?

When will banks pay us interest on our savings?  

[Slimeball]

Okay guys, GBP 1.93 up to 2.01 in 2 weeks its time to sell and take the suckers' money.
Same time next month? 

[name]

When will banks pay us interest on our savings?  

Hopefully only after I've paid off my mortgage

[kaki11]

If you are worried about banks and their ability to turn off internet banking or even ATMs in a crisis, then a biscuit tin of SGD1,000 notes takes some beating. That's about as close to pure, easy to store liquidity that you can get.

[somersa]

Gold. Bullion. Move quick it's a snip at $1680 now.

  The real average price of gold in 1980 was $1,500 USD.   If you bought it then you would not have seen a gain in 30 years.  It's all a matter of timing - which most are not good at.  Volatile investments are rarely a reliable investment for amateurs (of which I am one).

If anyone recommends "buy gold" to you this is a loud announcement that they know nothing about investing.

[Phil the Fool]

Gold. Bullion. Move quick it's a snip at $1680 now.

Ever hear of "Buy Low, Sell High"?
Its too late for gold but do not worry.

Gold 1769.50

[GoldFinger]

Target for gold is 5000 in three years.

Don't miss the golden boat!

[Agent007]

Gold or Singapore property.

same same.

[same same?]

Gold or Singapore property.

same same.

gold US$1692, well down from highs of US$1900

same same indeed