Avanza is one of the largest banks in Sweden, and in their monthly blogg, they’re noticing a big movement where Swedes are selling their American funds and shares, to buy Swedish/European instead.
Avanza is one of the largest banks in Sweden, and in their monthly blogg, they’re noticing a big movement where Swedes are selling their American funds and shares, to buy Swedish/European instead.
Back when I lived in Britain, in the run-up to and during the Leave Referendum I felt that the country wasn’t really a safe place to keep investments and moved almost all of my savings out of the British Pound.
In the week following the results of the referendum coming out, the value of the British Pound went down around 20% against other major currencies.
So simply by having those savings outside that currency, not counting any investment gains I was spared a 1/5 loss of my savings.
I seems to me the USD is very much in such a situation, possibly much worse if it loses its status as a Reserve Currency.
Oh yeah I remember that time well! I signed up for a job with a UK company (I’m french) and just lost 10% salary overnight :'(