BREXIT & EURO

haveahappyday
haveahappyday

I live in Latvia.

I hold most of my savings in Euros.

Since Brexit is quite possible, how could it affect Euros and my savings and what would be the smartest move for me right now?

Convert some of EUR to USD?

cum2soon
cum2soon

@haveahappyday
btc

Deadlyinx
Deadlyinx

@cum2soon
Already did. BTC, ETH and DAO.

But I still have plenty of EUR left and I don't want to put it all in funny internet money. Need some conservative savings as well.

Garbage Can Lid
Garbage Can Lid

Got the same problem. I am going on holiday to Latvia, what is the best way to exchange my £ to Euros?????

Illusionz
Illusionz

@haveahappyday
Need some conservative savings as well.
physical silver

Evil_kitten
Evil_kitten

@Illusionz
You have to smuggle it over the borders if things go worse.

Im going to change all extra euros to USD and buy some low risk stocks(tomorrow actually), BTC has too high volatility for savings. And well, changing back to euros is costly when my goverment takes 30% off the wins.

idontknow
idontknow

@Evil_kitten
Silver if you plan to dig in. Gold If you wanna jewscape.

Boy_vs_Girl
Boy_vs_Girl

@idontknow
@Illusionz

I don't believe in precious metals. WB said it is autistic to hold them. They don't produce anything.

lostmypassword
lostmypassword

@Boy_vs_Girl
Precious metals are not suppose to produce, they are suppose to have the same role as money. Money does not produce anything if you are not willing to risk it. You only get small % of interest on your bank deposit, because you are risking bank defoult.
I bet you get such small interest on EUR/USD deposit that is eaten out by inflation.

In your original post you asked if you should get some USD. USD are in the same boat as gold. They are not producing anything. If you would ask what stock to invest I wouldn't even brough presious metals up.

LuckyDusty
LuckyDusty

@lostmypassword
The difference is, I can use USD to buy some stuff online or something.

I can't do that with gold. I have to exchange gold to another currency first and only then I can use it.

cum2soon
cum2soon

bump for opinions

JunkTop
JunkTop

There will be no brexit, most britfags are against it

Techpill
Techpill

@LuckyDusty
You can buy same shit in latvia with gold or USD ...that is nothing.
And you clearly have not googled bitgold.
Okay I will stop pushing gold down your throat. Clearly you dont like it.
Enjoy your FIAT.

Emberburn
Emberburn

@JunkTop

t. uninformed burger.

SniperWish
SniperWish

@Techpill
You can buy same shit in latvia with gold or USD ...that is nothing.

But I'm not buying stuff in Latvia. I use currency to buy stuff from all over the world online and such. So it doesn't matter much if I hold EUR or USD. I still diversify.

Nude_Bikergirl
Nude_Bikergirl

@haveahappyday
Euro will probably plummet without the possibility of the BoE bailing it out.
Greece will, without the possibility of more bailouts, go bankrupt, drop the Euro, and devalue sharply.

Spend it while you got it.

viagrandad
viagrandad

@Nude_Bikergirl
So would it be smart to just exchange part of my EUR to USD?

happy_sad
happy_sad

@viagrandad
What makes you think EUR will not drag USD down with the ship? Why not yuan,rubble, swedish krona ?

SniperGod
SniperGod

@happy_sad

This picture tells it to you. All the big ones are just hoarding USD atm --> USD is going to be last one that falls.

BlogWobbles
BlogWobbles

finn here, savings in US stocks

i hope this shit union burns to the ground and takes euro with it

Stark_Naked
Stark_Naked

@BlogWobbles
So funny. My American Friends are waiting for US to collapse and they are holding Stocks in Scandinavia.

Garbage Can Lid
Garbage Can Lid

@haveahappyday

Yeah OP, i'm sort of in the same boat (also from LV btw).
It's bad enough that i've missed euro fall in 2014 when it was 1.4 USD : 1 EUR and now this the Brexit is looming.
Not that i have alot of money, but i'd rather not see it shrinking once again.
I have a couple of thousand USD though, but that's not much.

@happy_sad
yuan

Well, China is interested in keeping their currency below the actual value, don't they? Also their economy is having problems lately.

rubble
Too effing volatile. Are you kidding me? Could jump up overnight, could tank to the bottom.
You need to have steel balls to buy RUR or invest in their stock market.

swedish krona
IF Euro will fall you think Sweden's economy will be unaffected.

inb4 CHF/NOK

latter depends on oil prices too much (like RUR) and former... well, i actually have no idea. Only that CHF also jumped up recently when their Central Bank un-pegged it from Euro.

viagrandad
viagrandad

@lostmypassword
I bet you get such small interest on EUR/USD deposit that is eaten out by inflation.

In my bank (few months ago):
0.3% annually for a deposit account
0.2% annually for a savings account

Inflation is supposedly low (officially), but the prices are going up all the time...

TalkBomber
TalkBomber

@viagrandad
That is very easy to figure it out. If the price has doubled in the last 10 Years that means you had 7% anual inflation. Just find some old magazine from 10 years ago. And check the price. It should be about 15-20% higher according to EU Lieocrats. with their 0.2-2% inflation targets

WebTool
WebTool

@viagrandad
@Garbage Can Lid

Sveiks, kura banka?

Vai tu kkur investee? Akcijaas, u.tml.? Interesee, kadas bankas vai firmu pakalpojumus izmanto?

TalkBomber
TalkBomber

@haveahappyday

Go for a reserve currency, Swiss Franc or Dollar.
I would have said GB Pound but with Brexit going to happen now I think it may be bumpy for a while, although much less so than the doomsayers are predicting.

Ignoramus
Ignoramus

is buying Yen a good move? I figure that Yen isnt as good a safe haven as it used to be, but im not sure if I want to buy ETH at these prices (sold mine foolishly at 12,70 bought them at 4,60).

MPmaster
MPmaster

bump for more opinions

StonedTime
StonedTime

came to Veeky Forums to ask same things. Brexit looming over euro. I think it will get shitter despite the outcome. Already have some btc, nice to see it rise, but still in doubt. Should I just yolo and pump 5k eur into it? I only have ~7000 total

Stupidasole
Stupidasole

@Garbage Can Lid
what about norway?

idontknow
idontknow

@StonedTime
no.

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