I'm from the UK and I work in China and keep the money I earn in a Chinese bank account in CNY. I was planning on transferring some of this money back to my pound Sterling bank account in the UK. Would it be a good idea to hold onto all my money in China for the foreseeable future and speculate on the pound crashing if the UK does go for a hard brexit? Would that put me in a better financial situation for say, acquiring property in the UK in the future? I'm an absolute brainlet when it comes to this stuff, so thanks for any help you can provide.
I'm from the UK and I work in China and keep the money I earn in a Chinese bank account in CNY...
Parker Howard
Adrian Taylor
>working in a foreign country for foreign currency and wanting to bet against gbp
Traitor
Nicholas White
I thought everyone on this board was a cut throat wolf of wall street?
Brandon Rivera
Get back you fucking Jow Forumsnigger. This board is for financial discussions.
It is, don't let this faggot make you believe otherwise. I think keeping your money in CNY atm is the best you can do. Europe is going into a recession, and fast. Good on you that you're in a good position
Hudson Hernandez
>muh fuckin GOD SAVE THE QUEEN
All bongs should be killed
Elijah Morgan
If you move back to the UK make sure you inform HMRC (it pains me to say this) BUT not informing them of foreign accounts the fines can quickly add up to more than what is in the foreign account!
Why not move the funds to Singapore or HK? I wouldn't trust the chinks or the banks here
Also Cambodia offer 10% interest on dollar deposits! its obviously risky or the rate wouldn't be so high...maybe for a portion of your funds?
Logan Sanders
the UK's a failure of a country and a police state in the making.
t. fellow britbong
Jayden Cruz
It's not sure if the price of brexit is already priced in, however hedging against GBP isn't really a bad idea, I highly doubt it is ever going to get up in the next few years unless they stop with the brexit shit and act drastically to save the situation in some unprecedented way for the British government.
However given the Chinese situation I wouldn't really recommend you to hedge on that asset, it doesn't seem to be a strong currency and China is going trough one of the biggest bubbles ever, with the Chinese economy slowing down your Chinese dosh may turn to much less than what you might like.
It's funny to think about it since you are talking in a Crypto centric board, but BTC might unironically be the best place to put your money in as long as you are thinking in terms of at least one year ahead
Just put your money in btc on a paper or a ledger/trezor wallet and wait, it's also indipendent from any government or bank which removes the worries of big China taking all you money with it in some "fuck foreigners" possible scenario
Colton Hernandez
This
Logan Wood
solid advice