Saturday, January 08, 2005
Swiss Bank Account
How or why to open a Swiss bank account? This article should help.
One reason - maintaining the value of your hard-earned money in a local currency other than the US$. Consider how much the $ fell against the euro in 2004. It was in the US Gov's interests to let the $ fall in order to make exports inviting to US businesses, and reduce our trade deficit. At least one currency didn't fall against the US$, since it is pegged to it - the Chinese yuan (The US has been pressuring the Chinese to change that - probably only a matter of time.) One thing the US Govt. can't/shouldn't do, is let its currency devalue too much. That would stop people from wanting to invest in the US$. Catch 22s all around - eh?
Btw, the British pound may also figure in your decision of what local currency to invest in.
One reason - maintaining the value of your hard-earned money in a local currency other than the US$. Consider how much the $ fell against the euro in 2004. It was in the US Gov's interests to let the $ fall in order to make exports inviting to US businesses, and reduce our trade deficit. At least one currency didn't fall against the US$, since it is pegged to it - the Chinese yuan (The US has been pressuring the Chinese to change that - probably only a matter of time.) One thing the US Govt. can't/shouldn't do, is let its currency devalue too much. That would stop people from wanting to invest in the US$. Catch 22s all around - eh?
Btw, the British pound may also figure in your decision of what local currency to invest in.
