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Re: Re: [sharechat] Gold Glistens in the Dark Clouds

From:	"Allan Potts" <ajp7079@excite.com>
Date:	Fri, 14 Nov 2003 12:27:30 -0500 (EST)


Rodney,

In answer to you query, I've had a brokerage account and a bank account in NZ 
for quite a number of years.  Over the past several months I've added a 
sizeable amount to the account. (quadrupling it's size)  This money is invested 
in NZ and Aussie shares, some for yield, some for growh and some for 
speculation, ie gold shares, but all for protection against a declining US 
dollar.  This money will stay in NZ as long as the picture looks good vis a vie 
the strength of the Kiwi/Auissie dollar and the outlook for the share markets.  
If it gets gloomy I would repatriate a portion of it, but will always maintain 
an account in NZ.  I also withdraw some of this money and spend it when we 
visit New Zealand.

As to the currencies.  I don't trade the forex.  I did those type of things in 
my youth, but now am much more conservative.  Everbank -- everbank.com has a 
number of CD's denominated in various currencies.  I currently hold a sizeable 
one in what they call the commodity currency indes CD.  It is invested 25% each 
in the Aussie, Kiwi and Canadien dollars and the South African Rand.  Current 
interest rate is 4.35% for a three month CD which is about 4% higher than you 
can get in the US, but the real kicker is the movement up in these curencies 
against the US dollar.  Principal value has increased 2.62% in the past 35 days 
plus the interest return.  Certainly forex trades would have  produced much 
more profit, but this is money I need to husband and not gamble with, ergo this 
vehicle is excellent for protecting against a declining US dollar.

I will continue rolling over this CD three months at a time, until the value of 
our dollar stops falling and our interest rates rise.

Hope this answers your questions, at least it gives you an idea of what one 
person is doing to protect the fruits of many years of hard work against the 
possible decimation of it's purchasing power.


Cheers,

Allan

 --- On Sat 11/15, Rodney Paterson < rod.paterson@paradise.net.nz > wrote:
From: Rodney Paterson [mailto: rod.paterson@paradise.net.nz]
To: sharechat@sharechat.co.nz
Date: Sat, 15 Nov 2003 22:20:56 +1300
Subject: Re: Re: [sharechat] Gold Glistens in the Dark Clouds

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<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Hi Allan, </span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>�</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>From your post Allan on currencies, the positions you hold
on the nzd aud etc, may I ask do you trade forex?, and to take the nzd what
events or value nzd/usd would you exit your positions?</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>�</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>I have an interest in and want to look further into
currencies.</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>�</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>It is good your portfolio has done so well 
lately.</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>�</span></font></p>

<p class=MsoNormal><font size=2 face=Arial><span style='font-size:10.0pt;
font-family:Arial'>Rod.p </span></font></p>

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