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No such thing as a free lunch, though. Plenty of people's savings went poof that way.
by genwin 12y ago
No such thing as a free lunch, though. Plenty of people's savings went poof that way.
- neilsharma 12y agoWhy? Indian banks defaulting? Corruption/theft issues? I haven't tried this method -- just regurgitating advice other's have given me. Always thought it seemed more profitable than keeping money in US banks, and India always seemed accommodating of foreign money coming in.
- jonknee 12y agoForex is risky because unless you have a use for the foreign currency you are at the mercy of exchange rates. For example, INR lost 0.74% vs the USD just today.
- genwin 12y agoFor example, savers around the world were enticed by Iceland's high interest rates, and then this happened: http://en.wikipedia.org/wiki/2008%E2%80%9311_Icelandic_financial_crisis http://en.wikipedia.org/wiki/2008%E2%80%9311_Icelandic_finan... Turned out those savers were the suckers needed by those banks, in an attempt to remain solvent.