How do I invest in foreign currency?

I am worried about dollar devaluation. I have seen that Buffet and Gates are pulling out of dollars and investing in Euros and other foreign currencies. They are going as far as taking out full page ads in papers to warn others, so I gather that they are serious. My bet is that the dollar will tank later this year or in the near future. Also, if I open a Swiss bank account, do they keep my money in Euros? Basically, I am just looking to buy and hold. I don't want to be a forex day trader. An ideal investment to me would be to put my money in a foreign currency and then buy some sort of stock or mutual fund or index or commodity or whatever. I just want to get some of my money out of dollars for when the bottom falls out, i.e housing market crash, Iran war, countries reducing $ reserves holdings, GM bankruptcy, etc.

Public Comments

1. If $ will drop catastrophically, euro will drop too, since America and Europe are connected tightly. Thus better to diversify your money among currencies of countries which don't depend on America in such a great extent. You will laugh, but i recommend you to invest into Russian rubles (not much, say 3-5%). You can check, Ruble will grow during nearest months. Also Brazilian Real is growing, and there are some economical reasons to this growth. If you need I can explain. Also governmental securities of Russia and Brazil denominated in home currencies are extremaly fruitful. It will be reasonable to buy gold now.
2. In the Forex
3. There are several ways you can invest in foreign currency: 1) You can buy Euros (The Actual Bills) at any bank, airport or Money Exchanges and store them in a safe box. This is no very wise because you don't get any interest. 2) You can open a FREE acount at PayPal (An Ebay Company) in USD and in Euros. This is no very wise because you don't get any interest. 3) You open a bank account denominated in Euros at any European Bank. When you need money just transfer your money to a US Account. Once you have your account opened you can transfer your money to Euros from any bank in the World. Swiss Bank Accounts are multi currency. This means you can keep a USD Balance and a Euros Balance and a Yen Balance and so on. By the Way, the currency of Switzerland is not the Euro is the Franc. I suggest you to visit your local UBS or Credit Suisse bank for more detailed information. http://apps.ubs.com/locationfinder/searchForm.do?GeoEntityId=3&GeoEntityType=3 http://www.credit-suisse.com/where_to_find_us/en/office_locator.jsp If you want to invest you can open a brokerage account and trade stocks just like you do here in the US but on European Stocks denominated in Euros. The same for mutual funds You can also invest in Gold if you are worried about housing market crash, Iran war, countries reducing $ reserves holdings, GM bankruptcy, etc. I can help you with all your international financial needs. Drop me a line for more detailed information about Euro Investments.