Peter Schiff - what do you all know about this? How does one invest in non-usa dollars

[2Design]

In past speeches he advises to only do 0% down on housing, take all the equity you can out over the last few years and put that money in non-usa dollars for investment

First, what are some ways to invest in non usa dollars or stocks. His company is a brokerage firm. Are there others? Ways to invest directly? - if the dollar is in a big slide it does seem like it is best to put money somewhere else

Also, if people did as he said and just brought houses and pulled out all the money they could - those houses are worthless and will be part of draining the banking system in usa and the only people hurt will be those who played by the rules and put a percentage down on a home or have their dollars invested in usa areas

How legal is his advice and company? He was an adviser to Ron Paul
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http://www.europac.net/newsletter/newsletter12.htm?ref=patrick.net
As I prepare my application for the upcoming Las Vegas Money Show, it dawns on me that this is the first time in at least five years that I am changing the title of my editorial presentation. For years, the title had been "America's Bubble Economy: Implications for your investments when it finally bursts". (If you have not seen this presentation, watch my presentation from the 2005 Orlando Money Show on YouTube here. http://www.youtube.com/results?search_query=peter+schiff+money+show&search_type=) My new title is "America's Bubble Economy: Implications for your investments now that its burst". To me this represents a significant change that profoundly affects the nature of my message.

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I am feeling like it might have been better to get a home and have lived in it for just the mortgage payments and as he says in one of his many videos - taken the money and put it offshore

[justinsb]

1. You can just go to the bank

and buy foreign currency.

[2Design]

2. that would be like putting money in the mattress and not investing

his company invest in stocks and other products outside usa

[justinsb]

3. Not really...

If you invest in a foreign currency and it increases in value you make money: It's pretty much like stocks. It could go up or down. But 'investors' are frequently able to buy currency AND leave it in the bank so that it also draws interest.

[selador]

4. it's easy

i trade currencies frequently (mostly i trade stock index futures, but do fair volume in currencies)

you can use the FOREX market (foreign exchange) which many brokers offer acccess to.


FOREX involves the trading of currencies in pairs.

like if you buy EURUSD you are long the EURO and short the USD.

for every pip (1/100 of a cent) the euro goes up vs. the dollar, you make money.

or you can trade currency futures through any # of brokers.

or you can trade currency ETF's (there are a few)

ETF's are funds that trade like stocks (bid/ask posted intraday), unlike a mutual fund that does not trade intraday but merely has a daily closing price

the FXE etf. mirrors (essentially) the EURUSD forex contract.

if you want to be long EURO short dollar, you buy FXE

alternatively if you want to be long dollar, and short EURO you short FXE

FOREX is nice because thye have so many pairs.

you can trade pound vs. dollar, canadian dollar vs. dollar, aussie dollar, etc.

the yen carry trade was nice for a while

great opp's out there

but the best opp is past.

that was long EURO a while ago. now it's a bit overbought imo