Market Curiosity: Exploring Markets And Systems

April 1, 2011

FT: Fund managers look beyond the dollar for a base — Thank you Interactive Brokers.

Filed under: Just Watching — Tags: , , — Jeff Fitzmyers @ 10:49 am

For the past few weeks I have wanted to mention how handy it is to buy Loonies and sell frn’s with a click. It is so convenient to easily keep the account mostly in Canadian dollars. But I did not have a nice way to present the info. Then comes this Financial Times article that suggests it’s not just me who wants a trading account bases on something that is not destined to zero.

Of course the offered suggestion is a basket of currencies, all of which history says are going to zero someday. But this is just a lead in to using special drawing rights. Nice try.

What option was missing? The one that has been used for 90% of 5,000 years. The only issue is that Interactive Brokers won’t, as of yet, allow gold as a base currency. Someday…

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