Best way to change CAD to EUR?
 

Hi,

I'm quite a fish in these matters, so I apologize if this is a weak question.

I'm quite worried about the US market direction, the September market crash controversy/predictions etc. I live in Canada, and while the Canadian dollar has remained steady in the last 5 years, while the USD has been taking a dip, the Canadian economy is largely connected to and influenced by the US economy, and I'm afraid that a significant drop in the face value of the USD could bring our dollar down with it. You can say it's paranoia, or maybe you agree, but the bottom line is that, while I'm not very knowledgeable, I hear Euro is considered an investment these days for us North Americans. I don't want to argue about this claim, rather, if you'll be so kind, I'd like to get some advice on the best way to go about it. I want to do this ASAP.

What's the S.O.P to convert, say, 50,000CAD, and how should I go about it? I hold a primary account with the Toronto Dominion bank.

Re: Best way to change CAD to EUR?
 

bump

Re: Best way to change CAD to EUR?
 

I didn't want to say it before but just buy gold. It's much more liquid and you don't take as much of a hit on conversion fees.

Re: Best way to change CAD to EUR?
 

would you recommend a specific approach? I'm aware that gold is considered a good holder of value right now. I just thought that getting gold is more difficult and wanted to secure my assets quickly.

I wouldn't be so worried if I had property, but I'm a young poker player and most of the fruits of my work are in cash right now, which keeps me edgy with the financial updates these days.