TIP OF THE WEEK - How to Buy Foreign Currencies in the US; One Way to Guard Against a Dollar Decline ((tip of the week, foreign currencies, Everbank, Chuck Butler))

How to Buy Foreign Currencies in the US to Guard Against a Dollar Decline

Jason Brizic

May 20, 2011

The dollar is dying as the world’s reserve currency.  The Federal Reserve is debasing the dollar like never before.  You earn your money in dollars, you buy goods in dollars, you save in dollars, and you invest in dollar denominated assets.  This would be no problem if there was sound money in the U.S., but we have a fiat money system that is spiraling out of control.

You should have some of your liquid savings in investments denominated in something other than dollars.  But you also want FDIC insurance.  How can you do this?

I have found one U.S. bank so far that allows its customers to invest in foreign currencies without all the complexity of the Foreign Exchange market (FOREX).  That company is Everbank.  I don’t have an account with them yet, but I’m looking into it.  Here is what I found:

https://www.everbank.com/personal/foreign-currencies.aspx

P.S. One of the Everbank executives writes a blog called the Daily Pfenig.  Its good.  I suggest you check him out.  His name is Chuck Butler.  I’ve read him for years. http://dailyreckoning.com/author/cbutler-2/

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