Dear Elite Traders,
I am not a big shot, not a big trader, and not looking to get rich.
However, I have lost a lot of my faith in the American dollar. What I am wanting to do is to buy foreign currency as a form of 'diversifying' my savings.
I figure that the Euro and the Yuan will both grow in value at least as fast as a plain old savings account would.
I would very much appreciate any advice you can give on this matter.
Is simply buying foreign currency the 'wrong way' to do this? Should I instead be buying foreign mutual funds or foreign savings accounts? How can that be done?
Thank you for any help you can provide.
I am not a big shot, not a big trader, and not looking to get rich.
However, I have lost a lot of my faith in the American dollar. What I am wanting to do is to buy foreign currency as a form of 'diversifying' my savings.
I figure that the Euro and the Yuan will both grow in value at least as fast as a plain old savings account would.
I would very much appreciate any advice you can give on this matter.
Is simply buying foreign currency the 'wrong way' to do this? Should I instead be buying foreign mutual funds or foreign savings accounts? How can that be done?
Thank you for any help you can provide.