Some Cool Things you can do with a Falling Dollar
Even though the American media has tried to pretend it is not happening – the U.S. dollar has been losing value since the beginning of 2017. Our friends at the BBC estimated that a dollar lost about 10¢ when traded against the Euro between January and August.
American patriots might cringe at this collapse of the greenback, but there are many positive side effects. Shrewd investors can make a lot of money and have a lot of fun with a falling dollar.
Some of the fun stuff you can do with a falling dollar includes:
- Go grocery shopping – Over all food prices in the US fell by around 1.3% last year and prices of some foods dropped even more, the United States Department of Agricultural Economic Research Service reported. Egg prices fell by around 20% over the last year. To add icing to the cake, some observers think prices will fall more as the Aldi’s expansion heats up the US grocery wars and forces more deep discounting at Walmart, Kroger and Safeway. What’s even more interesting is food prices can fall a lot more because they’re still growing 4.5% faster the rest of US economy.
- Learn to cook or start cooking – With all those cheap groceries you can save a fortune by not eating out. If you’re skeptical of your culinary skills try a meal kit, prices for them are sure to drop now that Amazon (NADAQ: AMZN) has entered the business.
- Short the U.S. dollar – Persons that buy foreign currencies which trade against the dollar such as the pound, Euro and Canadian dollar made some money over the past year. Holding such currencies long term might lead to even higher profits.
- Visit America – The falling dollar means this is a great time for Europeans, Canadians, Chinese and others to visit America. Tourists’ money will go farther here in the USA. If you’ve always wanted to see Disneyworld, Hollywood, Yellowstone, Las Vegas or a Broadway show now is the time to come.
- Take a Road Trip – Now is a great time for Americans to forgo that European vacation and take a trip here at home. For example low food and fuel price makes this a great summer for a road trip. It’s a great time to see all the sights here at home you’ve wanted to take in ranging from Mount Rushmore to Miami Beach. It’s also a time to take in all that dream stuff you’ve always wanted to do at home; such as visit Yosemite, see a NASCAR race, gamble in Las Vegas, see a Broadway show, take in a game at Yankee Stadium or go shopping on Rodeo Drive, because your dollars go further.
- Buy some stock – Purchasing shares especially in value investments is a great way to protect your cash from deflation (loss of value) and inflation (loss of buying power). Since dollars are cheaper your money might go farther on the stock exchange although stock prices are high right now because a lot of other people have the same idea.
- Sell some stock or real estate – Now is a great time to sell stock or real estate because prices are high and the dollar is low. That means you’ll have more money after the sale. If you hold it you can start buying again when stock or real prices fall as we all know they will.
- Buy dollars – Seriously now is a great time to buy dollars because many of the fundamentals of the US economy are still great. A lot of the lost faith in the dollar is driven by the clown in the White House; who will be sent to back to his penthouse in New York at some point in the near future. Once he’s gone, the dollar will rebound and those who hold it will make money.
- Buy some cryptocurrency – Cryptocurrencies are booming right now because of the weak dollar. Ethereum’s value increased by 2,873.70% between August 21, 2016 and 21 August 21, 2017. Bitcoin’s value grew by 588.73% during the same period, and Litecoin owners saw their investment increase by 1,064.50% during the same 12 months. Some lesser currencies have grown even faster NEO, a new altcoin launched last year saw its value increased by 347.5% between September 1, 2016, and 21 August 21, 2017. The value of a unit of DASH went from $13.94 on August 21, 2016 to $280.14 a year later.
- Start using a cryptocurrency debit card. Several companies are offering plastic and virtual Visa debit cards that allow users to make purchases with cryptocurrencies in the real world. This means you do not have to lose the value of your cryptocurrency if you want to buy something in the new world because almost every business with a cash register accepts Visa. Some of examples of such products include:
- Shakepay which offers a Visa that can covert DASH, Ehtereum and Bitcoin to US dollars or Euros which can be used at 35 million merchants and 2.3 million ATMs worldwide.
- Bitpay which offers a Visa that can be used with any Bitcoin Wallet.
- TenX is planning to launch Visa or MasterCard products that are supposed to convert eight cryptocurrencies; including Bitcoin, Ethereum and DASH into fiat currencies such as dollars.
- Uquid offers a Visa debit card that can be loaded with several cryptocurrencies including Litecoin, Bitcoin, DASH and Ethereum. They offer free shipping on new cards and a host of other financial services. Virtual Visa debit cards are also available from Uquid.
As you can see a falling dollar can be fun, educational and profitable – if you know how to take advantage of it. Do lots of research because there are many ways you can make money from the Greenback’s decline.
