9
   

When is a good time to withdraw savings and move them to EU?

 
 
spendius
 
  1  
Reply Mon 11 Aug, 2008 09:19 am
dag--

I was merely trying to avoid you being misled by a jingoistic, brainless numbskull who evidently knows nothing about financial affairs but who likes to present himself condescendingly as a guru.

It is quite obvious that " if the USD recovers its value against the Euro" you should prefer dollars to Euros.

So obvious in fact that the statement ought to be offensive to your dignity. There are a few grandmothers who need advice on how to suck eggs but none of them need advice like Settin' Aaa-aah provided.

He's a poseur.
0 Replies
 
Setanta
 
  1  
Reply Mon 11 Aug, 2008 09:21 am
OCCOM BILL wrote:
Shocked Jeepers Set, you sure know how to make an ass of yourself. 2 more posts containing absolutely nothing of value. But, it is clear the questioner doesn't care what's relevant, so neither do I.


I'm sure you didn't understand them, but i am not here to enlighten you. See my previous post. The certificate of deposit is a preservation of capital instrument. Dashenka's capital in US dollars is preserved, and it is increased by the amount of interest guaranteed on the instrument. Taking the money out right now and converting it to Euros guarantees a loss of capital value as compared to the amount in Euros which the capital was worth when it was converted to US dollars. Therefore, the only questions which are relevant are whether or not she will need the money right away (a point which seems to have escaped you entirely), and whether or not the US dollar can be expected to regain its value with regard to the Euro. If the latter is a reasonable probability, the best thing to do would be to continue to earn money through an instrument which guarantees the preservation of the capital in US dollars, as well as a modest return, until such time as the US dollars can be converted to Euros without a loss in reference to the original capital value of the money in Euros.

It's certainly no fault of mine if you can't understand that.
0 Replies
 
Setanta
 
  1  
Reply Mon 11 Aug, 2008 09:24 am
spendius wrote:
He's a poseur.


The only reason to lend that credence would be that as you are the King of Poseurs, one expects that you would know.

Apparently you didn't carefully read the initial post in your rush to take the piss of me. Dashenka intends at some future point to convert her US dollars to Euros, and is concerned about losing the capital value her invested funds had in Euros at the time she converted to US dollars. She asked that she be advised as though she knew nothing. So i pointed out the simple terms to her.

I see you pissing and moaning here, but i don't see you offering any substantive advice with the reasons why you offer it.
0 Replies
 
OCCOM BILL
 
  0  
Reply Mon 11 Aug, 2008 09:26 am
Laughing What you've proven Set is that you know as little about gambling as you do about the Foreign Exchange, which leaves you acutely unqualified to opine about the similarities. You're probably confusing Dag, while certainly making a fool of yourself.
0 Replies
 
spendius
 
  0  
Reply Mon 11 Aug, 2008 09:26 am
Pure fanny Settin'.

Any money dag needs "right away" should be in her handbag.

I did mention somewhere the "next tick of the clock".
0 Replies
 
spendius
 
  0  
Reply Mon 11 Aug, 2008 09:29 am
Settin' Aah-aah wrote-

Quote:
spendius wrote:
He's a poseur.


The only reason to lend that credence would be that as you are the King of Poseurs, one expects that you would know.


One assumes you apply that principle to all the names you have called others.
0 Replies
 
Setanta
 
  2  
Reply Mon 11 Aug, 2008 09:31 am
Given that i have responded to this question as was requested, and given that i apprehend no danger to Dashenka from the palaver with which O'Bill and Spurious are clogging this thread, i intend to revert to my standard response to those gobshites, which is not to respond to them at all.
0 Replies
 
OCCOM BILL
 
  0  
Reply Mon 11 Aug, 2008 09:34 am
Laughing
0 Replies
 
spendius
 
  0  
Reply Mon 11 Aug, 2008 09:36 am
They don't half bolt fast do these anti-IDers.
0 Replies
 
spendius
 
  0  
Reply Mon 11 Aug, 2008 09:50 am
Settin' Aah-aah wrote-

Quote:
Dashenka, Thomas is saying cash in and convert to Euros or Crowns. I'm saying not to. I doubt that he and i will agree on this.


There was no "if" in that.
0 Replies
 
OCCOM BILL
 
  0  
Reply Mon 11 Aug, 2008 10:29 am
Time to point out some truth:
Setanta wrote:
Dashenka, Thomas is saying cash in and convert to Euros or Crowns. I'm saying not to.

Setanta wrote:
Really, whether or not you let it stay in U.S. cds depends upon when you think you will need it. If you don't need the money right now, there's no reason to take it out of the U.S.

Setanta wrote:
My remarks were simply to provide Dashenka a basis upon which to make her decision--that if she thought the USD would regain its value, she would probably be well off leaving her money in the cds to earn interest until such time as she could cash in without losing value. I didn't predict anything, and i didn't lead anyone anywhere.


Set can't even make up his own mind whether he has an opinionÂ… but has provided sufficient proof that his opinion will be arrived at in ignorance and therefore be worthless anyway.

Dag's as smart as anyone here. Her opening post was clearly looking for predictive opinions.

Setanta wrote:
spurious wrote:
"If the USD recovers its value" is a prediction which wiser men in the money markets would like to know the answer to.


Apparently, the word "if" was a mystery to Spurious, so he chose to ignore it, and declared my remark a prediction.
In Set's haste to insult, back-pedal and appear knowledgeable; he scoff's at perhaps the best answer to Dag's opening question so far.

Dag, you seem to have dismissed Spendy's input here for not liking his delivery... or because you like Set. But the simple fact is; Spendy did you a favor by pointing out that Set has no clue what he's talking about. When someone gives foolish legal, medical or financial advice and that someone clearly doesn't know what they're talking about; it is a favor to you to have it pointed out.
0 Replies
 
dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 12:50 pm
Laughing guys, you might want to leave me out of the discussion for now- for the argument has nothing to do with me at this point....you seem to have some personal beef to chew, which is fine by me, but hey, don't use me for it.

i will need time to go back and pick whatever useful information i can from this back and forth...too busy with work and packing and moving these days, so it will take me some time.

but thank you all again. i am NOT dismissing anyone, including spendius. i did have objections to his style some 3 pages back (right now the same objections would extend to others, but nevermind), yes, but in terms of practical advice i need to go back to everybody's posts. that's all i can say for now.
0 Replies
 
dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 01:09 pm
few clarification:

i don't need any money right away;

i don't know if i'll be in europe for half a year, a year, two decades or forever. it can be as little as 4 months or as much as 60 years, no idea. I think there is a good chance I will live and work in the States again at some point, but who knows if and when;

Spendius, you wanted to know how much money we're talking. It's not a lot i guess (well, to me it of course is, since at one point I could have bought an apartment in Slovakia for that sum. Not anymore though), it is $20,000, to which I will hopefully be adding a few hundred dollars (200-300 each month) starting from september, since I will be able to keep working part time at my current job while working a new job in the Hague and will have extra $1,000 kicking around every month. I'll use most of it to pay off a loan I have, and some towards my CD, if I keep it, or whatever form it will take once I decide what to do with it. Hope that info helps.

I don't know if Setanta's advice was or was not sound...but, he offered something. Spendius and O'Bill both assert strongly that Setanta is mistaken (with invectives flying both ways). So, fine, but that unfortunately leaves me no wiser about my dilemma with which I came here. If that's perceived as me taking sides, so be it. It certainly wasn't intended....i just really dislike namecalling (Set knows this, we've been through it a few times, I call him out on it periodically too) and personal invectives. Ultimately, I need advice, so it's the substance I'm after.
0 Replies
 
dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 01:13 pm
Oh, and one more thing: things like "diversify" mean to me about as much as "build a spaceship" -- i really have zero experience, having been a student until now. my only financial focus was to not spend more than i make... so i will have to learn everything from scratch.

just to keep that in mind when you talk to me - assume i know really nothing.
dlowan
 
  1  
Reply Mon 11 Aug, 2008 01:14 pm
Er...to interpolate irrelevant (to this thread) material:

Daggles, are any of your papers readily available online?

If so, might you pop a url or 2 here, or in a PM?


I'd be interested!
0 Replies
 
OCCOM BILL
 
  0  
Reply Mon 11 Aug, 2008 01:27 pm
dagmaraka wrote:
Oh, and one more thing: things like "diversify" mean to me about as much as "build a spaceship" -- i really have zero experience, having been a student until now. my only financial focus was to not spend more than i make... so i will have to learn everything from scratch.

just to keep that in mind when you talk to me - assume i know really nothing.
By diversify I mean split it up. NO ONE really knows if the dollar will slide further or recover; so the safest solution is to save in more than one currency, making you essentially immune to further fluxuation.

My guestimate would be in line with Thomas's that the Euro is likely to continue beating up the dollar in the long run; but wouldn't dream of telling someone else what to do with their dough based on my gut.

As stated earlier; I did study the trading of currency pairs looking for an angle and the sum total of what I learned is that it's among the harder markets to predict. Diversification eliminates the need to guess which currency will fair better.
0 Replies
 
dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 01:41 pm
dlowan wrote:
Er...to interpolate irrelevant (to this thread) material:

Daggles, are any of your papers readily available online?

If so, might you pop a url or 2 here, or in a PM?


I'd be interested!



One of the chapters I wrote recently (on Slovak citizenship) is available here:
http://www.centerforconciliation.org/ReadingRoom.html
Also, the newsletter there are put together by me. Not that they are too fascinating, those are mostly updates on our work at the Center.

Working on a new issue of newsletter now, and will be putting another chapter up there, so check back for updates.
Also working on an entirely different chapter, based on my diss research right now, that I can email to you in a week or two, if you feel particularly masochistic.
I'm also easily google-able: Dagmar Kusa is my name. No secret, it's been posted on a2k several times. I've no secrets to hide.

I'm pickled tink by your interest :-)
0 Replies
 
Thomas
 
  1  
Reply Mon 11 Aug, 2008 01:51 pm
dagmaraka wrote:
One of the chapters I wrote recently (on Slovak citizenship) is available here:
http://www.centerforconciliation.org/ReadingRoom.html

Not really -- the link on that page to your article redirects to some kind of directory. Never mind, I'll take a look at newsletters.
0 Replies
 
dagmaraka
 
  1  
Reply Mon 11 Aug, 2008 02:13 pm
yep, noticed it... that's because of a name change (of our organization)

fixing it as we speak...
0 Replies
 
hamburger
 
  2  
Reply Mon 11 Aug, 2008 03:19 pm
bill wrote :

Quote:
Quote:
dagmaraka wrote:
Oh, and one more thing: things like "diversify" mean to me about as much as "build a spaceship" -- i really have zero experience, having been a student until now. my only financial focus was to not spend more than i make... so i will have to learn everything from scratch.

just to keep that in mind when you talk to me - assume i know really nothing.


By diversify I mean split it up. NO ONE really knows if the dollar will slide further or recover; so the safest solution is to save in more than one currency, making you essentially immune to further fluxuation.

My guestimate would be in line with Thomas's that the Euro is likely to continue beating up the dollar in the long run; but wouldn't dream of telling someone else what to do with their dough based on my gut.

As stated earlier; I did study the trading of currency pairs looking for an angle and the sum total of what I learned is that it's among the harder markets to predict. Diversification eliminates the need to guess which currency will fair better.


i think what bill is saying :
leave half the money in your U.S. dollar account ,
put the other half into an account of a different and solid currency (perhaps the euro might be right) .

once you have done that : YOU ARE DIVERSIFIED !

to put it in simpler terms : don't put all your eggs in one basket ! :wink:
hbg
0 Replies
 
 

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