Quote:
Originally Posted by Paul
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.
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Not to mention that $, ? and £ all have serious debt problems and are currencies which are likely to depreciate over the long term. That said, the downside with all paper currencies is that all countries are forced to engage in competitive devaluations in order to prop up their export economies (even China can't stray too far away from the USD). That's why (after a decent correction) I still view Gold as an excellent long term opportunity.
Still, If you're seriously looking at Yuan then I have to mark you down as intelligent because its the best of all the paper options out there. Make a trip.