Question about the Yen / Yuan???
Posted March 15th, 2008 by jfarbe1
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Hey all, i know everyone is hot on talking about buying gold and silver lately but i was wondering. Now that the dollar is crashing hard and china has all our debt, and japan has been very productive reaching 100=1 for the first time ever, would it make any sense to exchange some of our money for the yen or yuan and hold on to it in hopes this keeps moving in that direction. This could be a rediculous question i dont know, i was just curious if it made any sense??
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You'd be smart to look into
You'd be smart to look into investing in Europe and Asia for the long term. The yuan (RMB) is linked to the dollar at a rate of approx. 7 yuan to 1 dollar. This only changes when the Chinese government says it changes, so you're not gaining anything by investing in yuan, but you could POSSIBLY find some hot as a rocket Chinese companies to invest in... I personally don't because of the huge risk. To each his own.
I still like gold & silver.
I still like gold & silver. If by some chance our recession goes deep and pulls other countries down with us then China might not even escape from the misery. I think we'll see the rest of the world flocking to gold/silver before they flock to the yen/yuan. Some economists are expecting this to potentially turn into a worldwide recession.
I have been thinking the
I have been thinking the same thing. The famous investor Jim Rogers who predicted the commodities bull run is currently saying that he is not currently buying gold because the better bargain is the chinese currency. Personally, I think the returns in the currency will be better than gold long term since gold has already gone up significantly. Just search Jim Rogers on youtube, he's spot on.