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follow junkmail 2010 Oct 10, 11:47am
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I'm asking for some advice/projections...
I have to move $250K to the UK in the next 6 months or so. (Buying an income rental property in London) I don't have the house picked out yet so I have some wiggle room (time-wize). I moved some of it about 6 months ago when it was around $1.48 to the Pound. Now I have to send more... We're hovering around $1.59.
I got really nervous recently when the Feds alluded to not ruling out QE in the next stimulus phase. The dollar took a bit of a beating since then to what it is now. I was unable to avoid the bump the pound got as I was property hunting in France. I almost sent the money last Thursday, but now I'm reading that the UK has double-dipped a bit too and may also may try to print their way out of this...
Seems to me these 2 nations are making a run for the bottom. With China stiff-arming them.
I guess my question is... what's going to happen in the next 6 months? Obviously the dollar is in a weak position and the Feds/Administration seem ok with that as it helps the trade issue and reduces the value of the US debt.
Anywayz... I can just smell something brewing and I don't really want to be caught up in it (or on the wrong side of it).
All crazy conspiracy theories entertained.
Since nobody on here is psychic, why not buy some hard asset like silver as a hedge against fluctuation?
Ok. Cool 2 great ideas. Will do.