Location: carl sagan's universe
Posted on: 26-11-08 10:30:33
Hi happy
your location says India (back from Canada) and you are talking GICs?
If u r in Can depends where you put the moolah.Only certain provs have provincial guarantees for non Canadian funds and that too in credit unions not banks which are under CDIC rules.
That is if you are looking for super safe deposits.
Also if you think you might need the cash anytime soon place money in redeemable GICs.
Or just put into savings account which are offering pretty good returns.
Just for my info who is offering GICs in Yen and GBP?
Quote:Define unknown.
Originally posted by Happy
I feel that selling assets to get the cash is as risky as buying the unknown stocks in this market.
Would you say companies like JNJ, BNS, etc. are unknown?
Quote:Who is this "Chinese guy" and how come he is such an authority?
I talked to a chinese guy, he said that he is tracking the recession events very closely and suggest not to take any buying-selling transactions inshares, property or gold now.
What are his credentials and does he have a proven track record of making money during recession?
In other words, on what basis are you taking his advice?
Quote:As a Canadian resident, how can you invest in GICs in all these currencies?
just keep the cash in GIC and the best is divide your cash in CAD, USD, Euro, UK Pound and YEN and get GICs in these currencies that way you can minimize the currency risk during the recession time. He called it currency diversification.
As far as I know, Canadian banks offer deposits only in CAD, USD and EUR, not GBP, YEN, etc.
If you go with offshore banking for these variety of products, the costs might make this strategy prohibitive, unless you have millions to invest.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
As far as I know, HSBC Canada offers a wide range of Foreign Currency GIC products including GBP and Australian Dollars but not Japanese Yen (nobody in their right mind will give you interest on Yen, when that country's Central Bank does not offer one at all)
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When the going gets tough, the tough gets going!!!
Quote:Hm, apparently they do -
Originally posted by i_luv_canada
As far as I know, HSBC Canada offers a wide range of Foreign Currency GIC products including GBP and Australian Dollars but not Japanese Yen (nobody in their right mind will give you interest on Yen, when that country's Central Bank does not offer one at all)
http://www.hsbc.ca/1/2/en/personal/investing-retiring/term-deposits/foreign-currency
That's great to know.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
