oliklom

Hello everyone,

I have to move £100.000,00 to France and have been waiting for so long for the euro to loose strength but to no avail!!!!

I have been looking into various ways to get more than 105.000,00 Euros ish, but no luck!

I did hope that they could be a currency out there which was lower against the sterling and stronger against the Euros, so that I could do a three way transfer...fat chance!

I thought of buying £100.000,00 worth of gold and sell it back once in France with a profit which would give more euros than with the regular transfer of currencies, but no. :curse:

I am obviously not good in economy but still think someone, out there, has a great idea how to get more euros than with the regular transfer using a currency broker!

Could they be some kind of product that I could buy in the UK and sell on in France with a small profit which would cover part of the losses of the basic transfer of currencies????

For example I could buy a Roll Royce for £100.000,00 in the UK and sell it on in France, does this sound crazy????

Another example, a Volkswagen car costing £22.000,00 in the UK cost 28.000,00 Euros in France, this mean if I sell it in France I make 6.000,00 Euros profit, therefore getting 26.000,00 Euros for my £22.000,00!, OK I know that the stearing wheel is on the wrong side, that there are various taxes also, but wouldn’t the principal work?

I’m sure some people might have a great laugh at my great expertise in Economy (I don’t think) any light / help would be greatly appreciated.

G-J-B

I'm not laughing, I'm in a similar boat, though luckily I've 3-4 years in hand to hope the pound creeps back to something semi respectable. I'd be reluctant to try any crazy schemes unless you're a betting man who likes to play the odds. I'm afraid if you don't have time in hand to see what the market is going to do, you're going to have a painful conversion. The pound is almost at a record low right now (it did reach about 1.12 to the euro a month or so ago), if you can hold boat for just a short while you could be the difference of a few thousand given the amount you want to convert, but even then it's still a betting game.

Ka Ora!

Open a HSBC Premier Account with a £100.000.00 you can Transfer with no Commission and Fees It's a start. Forget about trying to sell RHD cars in France you will loose money quick. You might make money on some of the more exotic Cars like a Morgan or something but I doubt it. Just wait it out or except it the rate is crap and it's a pot luck thing. Falling that harass Brown about joining the Euro as it's still set at 1.33 for the UK.

treskillard

Is that true?

Novocastrian

Or he could invest in euro denominated credit swap guarantee futures derivatives and make a billion or two.

<To the OP, this is a joke, for Christ's sake don't listen to me>.

treskillard

Is that the one the government promises to buy out whatever happens?

Andrea50

Believe me, I am in the same (sinking) boat without a lifejacket.

I too have considered some rather weird and wonderful ways of getting my hundred thousand smackaroonees out there by the middle of May.

I have a feeling well-bred racehorses or polo ponies are worth more in France, but I have nowhere to keep one in a first floor flat so that's out.

Gold we looked at (just as it levelled out), Art we looked at but as we are both dreadful philistines it could have been a 5 year old's attempt with two potatoe halves dipped in cake colouring or a Picaso and we wouldn't have known the difference. We looked at boats, but having been sick on Brittany Ferries I bottled out at that as I have no intention of sailing it to Arcachon meself, and in the end I bought two forward contracts, stuck em in a file in the cupboard and got drunk.

Thank God for Jack Daniels .........

Ka Ora!

I hear shares in Icelandic Banks are hot at the mo, For about £10,000.00 you can buy a bank with a few billion in debt

Matello

With the devalued pound and the UK government about to print more money (Quantitive Easing) this could devalue the pound further against the Euro unless the European central banks start to do the same.

This will make British exports cheaper though as people see the pound as worth less due to the QE.
There may be a market for importing some goods from the UK to France and making a profit on them.
What goods they might be I have no idea, nor am I sure how this works in terms of setting up a company to do it.

Matello

Ka Ora!

Yes time to import Kebabs and Curry

Andrea50

Trust a bloke to think of his stomach before his wallet!!

Roger O

If Brits (well, Murdoch & Co) didn't have this terrible "paranoic thing" about joining the euro (about 2 years ago), then all would have been well, wouldn't it!

fred uk

Not really. The pound will recover once that bunch of cretins in the labour government have been booted out and, once again, the pound will actually be worth something.

The Euro is toy town money built on lies and supported by more lies with dodgy accounting. The pound will recover.

Andrea50

Hm.

Andrea50

Fred, I presume you are waiting at the bus stop for a bus that says "cloud cukoo land". If your money is in sterling, suggest you book a forward contract for the fare, or you won't even have enough to pay for THAT!