Truly unforseeable instability
this post was submitted on 18 Apr 2025
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you dropped this
/s
I want to start storing my money in EUR instead of USD. How do I do this digitally with minimal fees and complications?
Far as I can tell, Neobanks are the best option for less well-off Americans. I personally would go for Wise since it allows for banking through a desktop browser, but Revolut and Neon might be better options if you use smartphones. Neon in particular, since that is part of the EU bloc, uses IBAN Internation Bank Account Number, and is based in Switzerland. Revolut and Wise are based in London.
Mind, I haven't actually tried signing up for a neobank account as of yet. Do further research for any concerns you have, since I am pretty amateur at this fiscal stuff.
Can you store it in commodities instead? Like gold??
Not a bad idea.
Probably crypto, just get a euro stablecoin, anything else is gonna be pretty complicated
I'll probably end up doing this. Thanks for the idea.
What's so strange about it? Trump is trying to fire the chairman of the fed, a non political organization to install a sycophant that will lower rates and send prices through the roof so rich people's line can go up. He is intentionally trying to lower the value of the dollar. If he succeeds, we're fucked.
They touch on it in the article. What if the goal is to trade globally in cryptocurrency?
It’s strange mostly because it’s the first time in post war history that stocks AND dollar does down
Have they seen our current politico-economic stance? That’s the first time too, but seems like the expected response.
I haven’t ever tried lighting my house on fire but I can safely predict that if I did, things I care about will get ruined. It hasn’t happened before but that’s because I’ve never lighted my house on fire before. Otherwise, obvious cause and effect
the fed, a non political organization
Ha!
Reposting:
It’s not fucking “strange”.
It’s Canada, Japan, the EU, and our other former allies retaliating against the US trying to use absolutely asinine and ham-fisted tariffs as a cash grab/shakedown by engaging in strategic retaliatory fiscal policy.
This is actual 4D geoeconomic chess. Because if orangeboi doesn’t listen and they keep going, the USD standard goes away.
Of course it's not strange. It's not even necessarily retaliation! It's just smart business. The US is not reliable or stable, and the dollar is not reliable or stable. Neither are good investments right now.
I mean it IS retaliation though. It’s retaliation for thinking absurd tariffs are a great idea to apply to one’s allies.
And please do note that some particular countries who were until very recently considered geopolitical adversaries by our government (Russia; Belarus) are NOT targeted by any of the tariffs.
This is what happens when you switch teams, and all of your allies are not a fan of you switching teams, and they don’t want to be tied to your currency standard anymore.
Oh absolutely. Perhaps "necessarily" isn't the right word. But the point is that even if you were somehow perfectly neutral (or worse, supportive) toward this horrifying shift in geopolitics, you still wouldn't want to invest in the US dollar.
What trust? I'm from the EU and I have no trust in the US atm.
The thing is the US is done as a global leader. There is still what 3.75 years left of Trump. When the world moves away from USD there is no going back after Trump leaves.
Ass to mouth is actually one of the few things you can trust us to do well.
Who am I to kinkshame.
For anyone asking why it's strange, from the article
Traditionally, the dollar would strengthen as tariffs sink demand for foreign products.
If you're looking at the dollar with supply and demand, if international trade to the u.s. decreases with tarriffs, then the amount of dollars leaving the u.s. also decreases and thus the supply of dollars on the international market. Assuming demand remains constant then the strength of the dollar should go up.
For this decrease in strength you have to look to demand which has to decrease enough to counteract the tarriffs plus more. This decrease in demand is coming from both decrease in demand for assets priced in dollars (u.s. companies stocks, treasury bonds, real estate etc.) And retaliatory tarriffs which lower demand for u.s. goods.
While this has been historically true, it's not working this time.
But the dollar not only failed to strengthen this time, it fell, puzzling economists and hurting consumers. The dollar lost more than 5% against the euro and pound, and 6% against the yen since early April.
As with most things happening under this US administration, he pushes things to the breaking point to see how it reacts. He's stress testing the global economy. From there, I would guess that he'd back off just before the breaking point and move on to something else.
Exactly, when people and organizations are selling their American stocks and companies and customers around the world stop buying American, there is less need for dollars. When the demand decreases, the price decrease.
Who still has any trust in us outside of other fascists and autocrats?
There are a lot of fascists and autocrats in the world though.
Nearly all of them installed and empowered by the US.
Look man I hate the US as much as the next guy but this is gigawrong.
The list of us interventions ending in the installation of a dictator is has more entries than the total number of countries on the planet. It cannot be overstated how many dictators the US has directly, explicitly supported and installed.
Hell we usually end up fighting them, because they stop paying whatever we charged for installing them.
What’s your source for that?
Almost like investors don't trust a fucking criminal who is manipulating the markets... How strange!
"Strange" lol, lmao even
curious!