Quote:
Originally Posted by RummyBoy
These days everyone is bullish on the Yuan (RMB) and with good reason - the best bet is to get your Yuan in a Chinese bank account. The problem for Americans is that its now more difficult to get a foreign bank account and some foreign based institutions wont easily give a bank account to an American citizen.
As regards Yuan, its appreciating a lot already.... there are ways to get it outside of China in a bank account like in Hong Kong or even Australia (soon, I think). Not sure on that one.
Do you hold Yuan?
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Not currently no, looking at ways to get into it though. Up until around November I was holding physical gold but I sold it as I was in the process of purchasing property.
At this point I don't want to have any money in $, ? or £s and due to what happened in Cyprus I believe that will set a precedent going forward with depositors in many EU countries i.e. Greece, Italy, Ireland, Portugal etc
I also think it's only a matter of time before banks throughout the EU & UK start charging customers monthly fees for bank accounts which is another reason not to bank in those regions.