To put this into perspective though, consider the devastation of the USD. My interest is in New Zealand, where I reside for much of the time. The USD/NZD exchange rate on this day 2001 was 2.41663
<http://www.oanda.com/convert/classic>
Today the USD/NZD exchange rate is 1.54696
This shows an increase of 56% over the 2001 price.
Thus, I have been MUCH better off keeping my money in a NZ bank at an interest rate of 6.5% than I would have been if I had kept it in gold.
Can you recommend an NZ bank that accepts deposit accounts (preferably with VISA debit card) from "non-natives", offers that 6.5% rate, and doesn't soak you on conversion fees ?
Mike.
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