Currency accounts for US citizens
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Did you see Alan Greenspan on 60 Minutes tonight?  What a revelation, one of the most powerful political and economic forces, but until now, basically silent. There were so many interesting things in the interview, but one of them left me with an urgent action item. Lesley Stahl, the interviewer, asked what currency he got the advance on his book in? He said it didn't matter, because he could convert to whatever currency he wanted, begging the question. She pressed, and he volunteered that the best choice is to be diversified. Which of course is a conclusion every money manager would reach on their own, it's just like stocks and bonds, you never want to have all your eggs in one basket, the best strategy is to be diversified.  I've wanted to be diversified in currency for quite some time, but have found it's not so easy. I have an investment account and a checking account, both are in US dollars, and neither offers the option of anything other than that. I just spent a couple of hours with Google trying to figure out where I could open an account that would allow me to keep cash in euros, yen, yuan, dollars (Canadian, US, Australian or New Zealand), pounds, or... ? I found that I could become a currency trader, which is absolutely not what I want. What I'd like is something like a mutual fund for currency. Or failing that, a certificate of deposit that allowed me to specify what currency it would be in.  So I thought I'd ask the smartest people I know, the readers of this blog. Do you keep your savings in more than one currency? Is there an online bank that does this well, one that a US citizen can use (that is, it sends 1099's to the IRS). Any ideas would be much appreciated.
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The Euro today set a new record high, breaking through key 1.41 levels in the early part of the European trading session. The Dollar touched another record low against the Euro as investors continued to dump the U.S. currency after the aggressive rate cut by the Federal Reserve earlier this week. The Dollar's slump comes on the back of increasing worries over the U.S. economy in the wake of its mortgage crisis.
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The US dollar sank to a new all-time low against the euro Tuesday as a mini-rally in the US currency sputtered out. The euro rose to a new high of $1.3469 in European trading amid concerns over the US trade
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Investor's Business Daily - Net inflows totaled $97.8 bil, reversing an outflow of $32.8 bil in Sept., as the weak dollar lured foreigners into buying U.S. bonds and stocks. The result eased concerns that the U.S. would have trouble attracting enough foreign capital to cover its external funding. Foreigners bought $30.2 bil in equities, up from $2.6 bil in Sept. They also bought $49.8 bil in Treasuries, almost double the amount in Sept.
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The dollar is dipping again. After falling against major currencies such as the euro, yen, and Canadian dollar in 2002 and 2003, the greenback stabilized this year.
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The European Union's common currency, the euro has climbed to a new record high against the US dollar, reaching $1.4130 in trading in Frankfurt. Analysts say they expect the value of the euro to remain high for the foreseeable future. The euro was boosted last week when the US central bank cut its key interest rate by half a percentage point to 4.75 percent.
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The U.S. government will offer over the Internet low-quality images of its new $50 bill for artists, students and others who discover that their computers, scanners or printers won't allow them to view or copy pictures of the new currency...
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The US dollar fell yesterday against all the major currencies on international exchange markets except the Canada dollar. The Euro climbed to $1.3074 against US dollar, breaking a new record.
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The dollar fell within half a cent of  last week's record low against the euro on Thursday after  capital inflows data added to worries the United States may  struggle to fund its current account deficit.
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Little by little, a weapon against identity theft is gaining currency - but few people in the United States know about it. It's called the security freeze, and it lets individuals block access to their credit reports.
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In yet another troubling sign for the greenback, at least one of the seven wonders of the world is now off limits if you have only U.S. currency in your pocket
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DES MOINES, Iowa, Aug 20  - High foreign ownership of US debt is &quot;a healthy situation&quot; and the dollar will remain the world&#39;s preferred reserve currency, Treasury Secretary John Snow said on Friday.
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One measure of how much consumer technology you can get for the buck, yen or euro is today&#39;s lowly printer. The reproduction capability of basic inkjet models that can be had for well under â¬200, or even
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SEATTLE - Next time you write a check, be prepared for the money to come out of your account in record time. A new law gives banks access to your money within hours.
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The United States backs a strong dollar but believes the currency market should determine exchange rates based on fundamentals, US Treasury Secretary John Snow said on Monday during a visit to Ireland.
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BEIJING, Dec. 24 -- The US dollar on Thursday hit new record low against the euro, which topped 1.35 US dollars for the first time.
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The United States backs a strong dollar  but believes the currency market should determine exchange  rates based on fundamentals, U.S. Treasury Secretary John Snow  said on Monday during a visit to Ireland.