Eur Wedge On De Edge


#1701

I wouldn’t do anything through an Irish broker if you’re worried about bail-ins…


#1702

Good advice. Thanks Mantissa.


#1703

There were mass protests in Cyprus but ironically they came from the bank employees (protesting about loss of jobs and pensions).


#1704

Any opinions on bringing 100K wedge back to Ireland from Canada? How to get best conversion rate, at lowest commission? Thoughts on CAD strength against euro and timing of changing it into Euro? Or do something else with it? Will probably spend it on a gaff down the country eventually. Any opinions apprecaiated. Cheers.


#1705

best FX transfers - by miles:
transferwise.com/


#1706

Irish sovereign should be bailin safe.
Sov default your obv risk though.
10yr is around a 3.5% yield these days.


#1707

doesn’t do CAD or USD at present?

I tried currencyfair - similar peer to peer concept, but disappointed by lack of liquidity.

WorldFirst is great and HiFx seems similar


#1708

Oh sorry, didn’t realise, I’ve only used them for GBP and CHF.


#1709

I tried WorldFirst but found them pretty poor. Their homepage makes it look like they are offering very close to the interbank rates, but you need to login to see the real charges, which were close to 1% if i remember correctly. Their only claim to fame was being able to beat the high street banks, which is not exactly impressive.


#1710

Any idea if money invested in Prize Bonds would be safe from a bail-in tax?

They are tax free, but are they deemed as being similar to a bank deposit or are they different because they reduce the need for the NTMA to issue bonds (by about 1.5 billion)?


#1711

Prize bonds are sovereign - so your only risk is sovereign default not bailins.


#1712

Anyone put their wedge in property a few years ago? Seems easy to get it out again
independent.ie/irish-news/tw … 40218.html


#1713

Anyone know about the legality of this sort of cash? I mean, presumably you can’t be arrested for burying and digging up cash. I would have thought it would have to be tied to crime somehow?


#1714

Not illegal but unusual behaviour so it would lead to suspicion that it comes from illegal behaviour.


#1715

Ask Tom McFeely!


#1716

This isn’t going too well is it?

Get out now before you lose any more money.


#1717

Oh the brain trust arrives.
Zero’s are about flat, but you’re down on your currency as EUR/USD has rallied circa. 600 ticks since post; about 4%.
Now here’s the complicated part, concentrate: it’s a hedge for those long of Euros (the clue is when I say “hedge” in the above post). So net/net, you should probably be up, maybe flat! At least wait until it’s definitely in the red before putting your hands down your trousers, you imbecile!
Which reminds me; gold’s down 10% in the same period… :laughing: :blush: :cry: :laughing:

Edit:
Obviously “Turbobaby” is an , but apart from him, the trade still works, still looks good, and still protects for those who are long Euro and worried about potential crisis in 2014. Met family office last week who have done a ton of it; of course easier for those who don’t have mark-to-market issues; in this case $25MM was leveraged to c. $50MM and purchased c. $150MM of zeros, maturity c. 2039. Euro blows up along the way and they look even better.


#1718

You’re a gas character!

You’re infatuated with gold. One down year in 11 and you can’t keep your mouth shut about it.

For your information, the majority of gold bugs have been buying gold as a ‘hedge’, for longer than one year.

“Zero’s are about flat”

You know gold is down 10% but you don’t know by how exactly much your Zeros have moved? About flat sounds like down to me.

You also constantly berate the ECB and clearly aren’t a fan of the Euro. It’s rallied despite all the ‘good news’ coming out of the US.

Get ready for more margin calls.

It was a bad hedge and will be an even worse hedge going forward.


#1719

Au contraire Turbobroke, au contraire.


#1720

You’d get a job in Anglo for that trade. Borrow short term at 3% and lend long term at 4%. All on margin. What could go wrong?! 8DD