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Minyan Mailbag: Currency Trouble Abroad


...I must still go with Mr. Practical...


Good morning Prof. Succo,

In reply to your remarks at 8:24am, this does not explain the yen's weakness towards the euro.

I haven't bought yen yet, as I'm waiting to see how much the ECB will raise rates. But I am not comfortable with all those euros. I just got back from the south of Spain, where the real estate bubble is in full force, while (for the first time in a long time) for sale signs are to be seen quite frequently, and Italy is as chaotic as ever. I wonder why this country is not bankrupt yet. My Swiss (university graduate) friends are complaining that "cheap" labor from Germany is undermining their salaries. My German friends are constantly complaining, but right now especially about the German IRS that supposedly is going berserk on the middle class. My French friend's (that rent in Paris) rates are going through roof......

Hope you are well,

Minyan Mousie


My opinion hasn't changed. I hate all currencies.

But I must still go with Mr. Practical, who remains living somewhere in Europe and has what little currency he needs in Euros.

His decision has nothing to do with the strength of economies, for that is a fleeting thing. He merely sees the Euro being printed less than other currencies over the long run.

But remember, he has enough gold and other metals to keep his "wealth" stable as all currencies decline.

All the best to you!

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