Question for all you brainiacs...
Pardon my ignorance, but can someone please explain if holding USD is still the safest currency and why?
Got a little cash on hand and deciding which is best currency to put it in or keep in HKD??
Any advice is highly appreciated.
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Further to previous post... (can't seem to edit it)...
Given the state of the US economy, is USD still the best? Or would Gold or another currency be safer?
Thanks
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given hkd is pegged to USD, why would anyone hold USD? HKD does the same or even better, has some upside if repegged to RMB
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So should we just keep it in HKD?
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Ed
13 yrs ago
There's a theory expounded upon somewhere on this thread http://hongkong.asiaxpat.com/forums/hong-kong-property/threads/148154/financial-chat:-danger-in-qe-etc/
that says that, in the event of a bad outcome in the global economy, the USD will be the 'last man standing'... so if one is to hold currency the USD is it...
There is another theory that says physical precious metals such as gold and silver are the ultimate hedge against a huge crash or hyperinflation. Gold has never gone to 0 - most fiat currencies have throughout history
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In the event of a "bad outcome" I would favour real assets over fiat assets and free floating currencies of countries with good finances (debt, deficits etc) - Norway, Canada and Australia come to mind - over the USD. That said, the USD has often been the destination of flight to safety money in the past and may well maintain that role for some time.
Like malka, I'd spread it around a bit.
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