GaYeled 0 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..ty Link to post Share on other sites
Balloon guy 158 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..tyooops, nevermind Link to post Share on other sites
cubsfan44 0 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..tyWell here is what I do...errrr wait nevermind. Link to post Share on other sites
chrozzo 19 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..tydammit, yeah add me to the list Link to post Share on other sites
chuckpalms 0 Posted June 1, 2007 Share Posted June 1, 2007 do you actually live in america? if so, just have them cut you a check... works like a charm. Link to post Share on other sites
jben 0 Posted June 1, 2007 Share Posted June 1, 2007 GaYaled,If you are concerned about the dollar, you can always hedge your home currency against it. Since you are in Israel, I'll assune it is the shekel. What you are buying is technically a "put option" ... the right to sell US dollars for a fixed amount vs the other currency. If the dollar moves lower than the fixed price, you exercise the option. If it doesn't you let it expire. In other words it insures you against a drop in the dollar.However, as with any insurance, there is a cost. Unless you are moving large dollars, it is generally not worth it.Find a local broker and tell him you want to hedge against a drop in the US$. He will be able to tell you how much it will cost.Jben Link to post Share on other sites
GaYeled 0 Posted June 1, 2007 Author Share Posted June 1, 2007 GaYaled,If you are concerned about the dollar, you can always hedge your home currency against it. Since you are in Israel, I'll assune it is the shekel. What you are buying is technically a "put option" ... the right to sell US dollars for a fixed amount vs the other currency. If the dollar moves lower than the fixed price, you exercise the option. If it doesn't you let it expire. In other words it insures you against a drop in the dollar.However, as with any insurance, there is a cost. Unless you are moving large dollars, it is generally not worth it.Find a local broker and tell him you want to hedge against a drop in the US$. He will be able to tell you how much it will cost.Jbenty for that post Link to post Share on other sites
Chicago99 0 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..tyLook, its certainly possible the dollar will decline further. It might not. You could hedge your position in US$$ as the previous poster suggested...but wow, you'd need a lot of cash in there to make it worthwhile (for the hassle alone). More importantly, if you have that much cash just sitting there, withdraw it. After all, if the dollar falls, you can redeposit at a better exchange rate. If you are referring to money you are planning on winning, but haven't won yet, you aren't really losing anything. Link to post Share on other sites
TR1N1TY 0 Posted June 1, 2007 Share Posted June 1, 2007 its so easy to stash money offshore its not even funny. I have so many pre paid Visa cards from offshore banks now its ridiculous. The IRS can blow me...oh and as far as exhange rates go...who gives a shizzle. GL collecting taxes from me pencilnecks. Link to post Share on other sites
litlebullet 0 Posted June 1, 2007 Share Posted June 1, 2007 its so easy to stash money offshore its not even funny. I have so many pre paid Visa cards from offshore banks now its ridiculous. The IRS can blow me...oh and as far as exhange rates go...who gives a shizzle. GL collecting taxes from me pencilnecks.you sure are the model citizen huh? Link to post Share on other sites
Zach6668 513 Posted June 1, 2007 Share Posted June 1, 2007 I was holding as much as I could in $CAD for a while, but I needed to make a deposit to reload my bonus account.There's not too much you can do about it though, however, now would be a good time to sell any $CAD you hold for $USD, once the $USD strengthens again, you can convert back to $CAD and make some money, in terms of the $CAD.It really doesn't matter though, because in relation to the USD, it's still the same, and the USD is too big to really worry about stuff like this. It's influence on every other currency is too big.I don't know what I'm talking about. Link to post Share on other sites
JaNnN 0 Posted June 1, 2007 Share Posted June 1, 2007 Haha yeah, if I converse my pokerwinnings to my own currency I'm losing money without even playing...almost everyday!! Link to post Share on other sites
Jam-Fly 8 Posted June 1, 2007 Share Posted June 1, 2007 At the momeny it is 1euro for $1.35. This was 1euro=>$1.38 not long ago. Come mid july, I would estimate it will be 1euro for $1.32.Well, theres my opinion FWIW Link to post Share on other sites
JaNnN 0 Posted June 1, 2007 Share Posted June 1, 2007 Whohooo!!!!It's 1 euro for 1.28 dollar now. We're going in the right direction!!!!Now I'm making money without even playing. Link to post Share on other sites
mtdesmoines 3 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..tyWorst. Brag. Post. Ever. "OOOO, all my brazillion american dollars are declining in value. What do I do? What do I do?" Link to post Share on other sites
Purify 0 Posted June 1, 2007 Share Posted June 1, 2007 I saw something on the news that said its quite possible the CAD and USD are going to be even monies this summer....... Link to post Share on other sites
Scanner313 0 Posted June 1, 2007 Share Posted June 1, 2007 you sure are the model citizen huh?Hey, I don't blame him one bit for his attitude. The way the US government is wasting OUR money, I wouldn't be giving them a nickel more than I have to to stay out of prison. If they can't find my hidden income, **** 'em! Link to post Share on other sites
socalpoker_j 1 Posted June 1, 2007 Share Posted June 1, 2007 Can someone who knows something about the situation with the american dollar please give me some advice. I have a lot of money on online poker sites and i cash out my money under my mom's name who lives in canada. So I'm losing lots of money because of how crappy the dollar is doing. So what advice would you give me? Because from what I read on google and various sites is that the american dollar is going to go on a big decline. Please no stupid replys...i want serious info..tyI'm always trusting the Internetz. Maybe it's to make way for the.. dun dun dun.. [conspiracy theory] "Amero" and "North American Union". Link to post Share on other sites
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