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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (6650)	4/28/2008 3:20:10 PM
From: Elroy Jetson	Respond to of 71463

Everbank does not really offer multi-currency accounts. Everbank offers US dollar CDs, a portion of which are invested in FX futures or swaps. You never hold a foreign currency or pay an exchange fee. The interest rates Everbank has on offer have also been substantially below the actual rates offered in the target foreign currency. In contrast, setting up a foreign account will incur an exchange fee when you convert your money from US dollars. A number of years ago I found it worth the exchange fee to flee the US dollar. It has proved to be a wise investment. Exchanging the appreciated currency back into dollars does not incur a tax, although all interest paid each year, currently 7%, is taxable. .